Zhejiang Wanfeng Auto Wheel Co., Ltd.2020 Annual Report
ZHEJIANG WANFENG AUTO WHEEL CO., LTD
2020 Annual Report
April 2021
Zhejiang Wanfeng Auto Wheel Co., Ltd.2020 Annual Report
Section I: Important Notes, Contents and Definitions
The Board of Directors, Board of Supervisors, Directors, Supervisors and
Senior Management of Zhejiang Wanfeng Auto Wheel Co., Ltd. (hereinafter
referred to as the “Company”) hereby guarantee that the information presented
in this report shall be authentic, accurate, complete, and free from material
misstatement whether due to false record, misleading statement or significant
omission, and they will bear both individual and joint legal liabilities.
Chen Bin, the Company's legal representative, Dong Ruiping, the person in
charge of accounting work, and Chen Shanfu, the person in charge of the
accounting department (accounting officer), hereby declare that the financial
statements in the annual report are true, accurate and complete.
All directors attended the board meeting to review this report.
The information pertaining to future plans and performance forecasts in this
report is uncertain and does not constitute a substantial commitment to
investors. The Company are exposed to risks of macroeconomic and industry
conditions, fluctuations in the RMB exchange rate, raw material prices, rising
labor costs, trade barriers, and the impact of COVID 19. Investors are advised
to pay attention to investment risks.
Pre-arranged profit distribution plan approved by the Board of Directors:
distribute 1.0 Yuan cash dividends per 10 common stocks (tax inclusive) and 0
stock dividend to all shareholders, on the basis of 2,072,107,520 shares (total
issued shares of 2,186,879,678 minus repurchased shares of 114,772,158).
If there is no specific explanation or otherwise stated in tables, the currency in
this report is RMB or yuan used interchangeably.
This report and its abstract have been prepared in both Chinese and English.
Should there be any discrepancies or misunderstandings between the two
versions, the Chinese version shall prevail.
Zhejiang Wanfeng Auto Wheel Co., Ltd.2020 Annual Report
CONTENTS
Section I: Important Notes, Contents and Definitions......2
Section II: Corporate Profile and Key Financial Indicators......6
Section III: Corporate Business Overview ......12
Section IV: Management’s Discussion and Analysis ......21
Section V: Significant Events......47
Section VI: Changes in Shares and Information about Shareholders ......88
Section VII: Information of Preferred Shares ......99
Section VIII: Information about Convertible Bonds......100
Section IX: Information about Directors, Supervisors, Senior Management......101
Section X: Corporate Governance ......113
Section XI: Corporate Bonds......123
Section XII: Financial Statements ......124
Section XIII: Documents Available for Reference......348
Zhejiang Wanfeng Auto Wheel Co., Ltd.2020 Annual Report
Definitions
Items Refers to Definition
Company, the Company, Refers to Zhejiang Wanfeng Auto Wheel Co., Ltd
Wanfeng Auto Wheel, We
Group, the Group Refers to The Company and its subsidiaries
Wanfeng Group Refers to Wanfeng Auto Holding Group Co., Ltd.
Wanfeng Motorcycle Wheel Refers to Zhejiang Wanfeng Motorcycle Wheel Co., Ltd.
Ningbo Aoweier Refers to Ningbo Aoweier Wheel Co., Ltd.
Guangdong Motorcycle Wheel Refers to Guangdong Motor Wheel Co., Ltd.
Weihai Magnesium Refers to Weihai Wanfeng Magnesium Technology
Development Co., Ltd.
Weihai Wanfeng Refers to Weihai Wanfeng Auto Wheel Co., Ltd.
Jilin Wanfeng Refers to Jilin Wanfeng Auto Wheel Co., Ltd.
India Wanfeng Refers to Wanfeng Aluminum Wheel (India) Pty. Co.,
Ltd
Chongqing Wanfeng Refers to Chongqing Wanfeng Auto Wheel Co., Ltd
Shanghai Dacromet Refers to Shanghai Dacromet Coating Industry Co., Ltd
Ningbo Economic and Technological
Ningbo Dacromet Refers to Development Zone Dacromet Coating Industry
Co., Ltd
Shangda Tu Fu Refers to Zhejiang Wanfeng Shangda Coating
Technology Co., Ltd.
Wanfeng Meridian Refers to Wanfeng MLTH Holdings Co., Ltd
Meridian New Material Refers to Wanfeng Meridian New Material Technology
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