During the corresponding time, Sorl Auto Parts Inc recorded a revenue increase by 23.64 % year on year, sequentially revenue grew by 35.77 %. While revenue at the Sorl Auto Parts Inc 's corporate clients
We continue to expand our business with Beiqi Foton Motor Co.,td., Dongfeng Motor
Co.,td, and FAW Group, which ranked in the top ten highest saes commercia vehice
manufacturers in China during 2015. The Company is a “core suppier”
to FAW Group, and a strategic partner with both Beiqi Foton Motor Co., td., and
Dongfeng Motor Co., td. (through product co-deveopment contracts and priority
suppy agreements). The Company achieved a new business breakthrough with severa
top tiered vehice manufacturers such as Sinotruck and Shaanxi Automobie Group
Co., td, as we expanded our businesses with them from suppying ony automotive
eectric components to deivering entire air-brake systems. Furthermore, Baotou
Bei Ben Heavy-Duty Truck and Vain, two fast-growing companies in the heavy truck
market, continued to be our major customers.
Chinese Aftermarket - The Company’s Chinese aftermarket saes network consists
of 26 authorized distributors covering the foowing seven regions throughout
China: Northeast Region, North Region, Northwest Region, Southwest Region, Centra
Region, East Region and South Region.
The 26 authorized distributors se ony “SOR” products and in turn
distribute the products through over 2,000 sub-distributors.
Internationa Market – With the truck production decine and currency depreciation
in some countries in 2015, our export saes in 2015 decreased compared to 2014.
Our strategies in the export market incude the foowing:
We focus on both the overseas aftermarket and OEM customers at the same time.
The Company aso activey participates in internationa trade shows incuding
more than ten internationa exhibitions such as Automechanika in Frankfort Equip
Auto in Pairs, Automotive Aftermarket Products Expo in as Vegas, Automechanika
Midde East in Dubai and China Import and Export Fair in Guangzhou, to attract
new customers and new orders.
In December 2015, we divested a of our equity interest in SOR Internationa
Hoding, td., a joint venture we formed in 2009 in Hong Kong. Going forward,
we pan to distribute our products in the Asia-Pacific region primariy through
our inhouse saes teams.
The Company strives to create a arger footprint in Europe, the Midde East
and Africa with a target to create a truy goba distribution network. The Company
presenty has internationa saes centers in the United Arab Emirates (“UAE”),
the United States of America (“USA”), and Europe. They carry out ocaization
strategies to meet the different market demands and to strengthen service support.
Sources:
Sorl Auto Parts Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Sorl Auto Parts Inc’s corporate clients.
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