Dongfeng Motor Corporation (hereafter referred to as DFM) was first established in 1969 and has commanded a leading position in the PRC automotive industry ever since. After more than thirty years of construction, DFM has formed several major production facilities, which are distributed in Shiyan ( mainly engaged in the production of medium duty and heavy duty commercial vehicles, auto parts and components and vehicle manufacturing equipments), Xiangfan ( mainly engaged in the production of light duty commercial vehicles and passenger vehicles), Wuhan ( mainly engaged in the production of passenger vehicles) and Guangzhou ( mainly engaged in the production of passenger vehicles). On September 28th, 2003, DFM moved its operating center from Shiyan to Wuhan. Major businesses of the co***ny include the manufacture of whole serial commercial vehicles, passenger vehicles, auto parts and components, as well as vehicle manufacturing equipments. At present, the product mix in its automaking business is equally divided between commercial vehicles and passenger vehicles. By the end of 2004, total asset of DFM amounts to RMB 76.89 billion, with a net asset of RMB 33.9 billion and a total number of 106,000 registered staff.
Entering the new century, DFM focuses on participating in international competition and cooperation. Complying with the development strategy of ˇ° developing during integrating, cooperating during competing, growing stronger and bigger, building strength firstˇ±, DFM rapidly expanded its passenger vehicle business by aligning itself with leading international automotive co***nies. It successively entered into joint ventures for the manufacture of passenger vehicles with Nissan Motor Co., Ltd, Honda Motor Co., Ltd and Kia Motors Corporation. It expanded and promoted its scope of operations of Dongfeng Peugeot Citroen Automobiles Limited to include the manufacture of Peugeot passenger cars in addition to the Citroen passenger cars already manufactured by it. After comprehensive joining venture and restru
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