readytorunbook Chapter 401 2009 Annual Revenue of 616 Billion Yuan
Chapter 401 2009 Annual Revenue of 616 Billion Yuan
This year, Future Technology Group’s annual meeting was held in Shenzhen.
This means that it is inconvenient for Yuecheng employees to attend.
For them, it doesn’t matter whether the annual meeting is held or not, but the rewards for the annual meeting activities cannot be missing.
The group has no shortage of reward funds for annual meeting activities, and Hao Qiang signed and agreed to it. This has become a company practice.
At four o'clock in the afternoon,
The annual meeting begins,
The event was held in a large training classroom, where the new car launch was held. It was much more comfortable than on the basketball court, as it was so warm indoors.
Today, Pengcheng has about 8500 employees, all of whom participated in this annual meeting.
At this time, all participants have taken their seats in an orderly manner.
As the time was almost up, Group Chairman Hao Qiang and other senior executives walked towards their seats on the stage.
Reporters from several media outlets and several Shenzhen government leaders were also present at the event.
Human Resources Manager Qiu Xueya announced the official start of the annual meeting and extended New Year greetings to all employees present.
"Last year, the group's employee headcount reached 16150, including 8450 employees of Renjian Fireworks Catering Company.
In February 2009, Renjian Fireworks Catering Company was separated from the group in order to raise funds for listing.
This year, the number of employees in our group has reached 15,000, with the proportion of R&D personnel reaching 32.2%, transforming into a technology-intensive enterprise.
In the next few years, the proportion of R&D personnel in the group will become higher and higher.
On November 12, 2009, senior leaders visited our company..."
Qiu Xueya spoke leisurely and elaborated in detail on the development and changes in the group's scale and the government honors it has received.
The Group has undergone tremendous changes in the past year.
After Qiu Xueya finished her report, the general managers of the group took turns to come on stage to give their work reports.
Lin Yan, General Manager of Future Motorcycle Company, began his speech: "In 2008, Future Motorcycle Company sold a total of 230.1 million electric motorcycles.
In 2009, our company's electric motorcycles were still in short supply, with total sales volume climbing to 250 million units and total revenue of approximately RMB 88 billion.
Future Motorcycle has been the sales champion of domestic electric motorcycles for three consecutive years..."
The chairman did not agree to add production lines, personnel and factory buildings, so Lin Yan had to find other ways to increase production capacity, such as optimizing equipment, improving production efficiency, working overtime, and increasing the proportion of exports.
When Lin Yan finished his report, the employees in the audience still gave him warm applause.
Although the group is no longer focusing on the electric motorcycle industry, its contribution cannot be underestimated.
For peers, such revenue and profit margins are undoubtedly enviable.
However, for Future Technology Group, it will continue to operate as long as it is profitable, and will decisively eliminate it once it is no longer profitable.
Just like the Renjian Fireworks Catering Company, it no longer belongs to the core business scope of Future Technology Group.
The group's strategic positioning is very clear, and only high-tech industries can enter its system.
The chairman has told the group’s employees that they should have the spirit of reform and innovation to keep pace with the times, be enterprising, be diligent in exploration, and be brave in practice.
The company provides a training and learning platform. If you can't adapt, you will really be eliminated.
Future Technology Group does not have a last-in-first-out system, but if you are not suitable for a new position, you can only be assigned to an unimportant position or leave.
After Lin Yan finished his report, Wang He, General Manager of Galaxy New Energy Company, gave his report:
“In 2009, Galaxy New Energy Company achieved an annual production capacity of 15GWh, a year-on-year increase of 10.95GWh;
Revenue was 143.5 billion yuan, a year-on-year increase of 109.75 billion yuan..."
This year, due to the launch of new energy vehicles, automotive lithium batteries have increased significantly, and Galaxy New Energy Company's revenue has soared.
Next, Luo Hao from Future New Energy Vehicle Company gave a report:
"Thanks to the support and assistance of all our subsidiaries, the group's first car, the ES6, was launched nationwide on September 1, 2009.
In three months, a total of 81544 ES6s were sold, with sales reaching 382.6 billion yuan, and approximately 16.6 billion yuan in taxes paid to the country.
As soon as Luo Hao reported the revenue, many employees at the scene exclaimed in surprise.
More than 80,000 vehicles were sold in just three months, with revenue of nearly 40 billion yuan. It's terrifying.
As for the 16.6 billion yuan in taxes, most colleagues are not very clear about it. Some employees only know that Pengcheng Company has a three-exemption and three-reduction policy for corporate income tax.
In fact, 16.6 billion yuan is mainly composed of several parts:
1.增值税:汽车行业的增值税税率通常为17%（自2019年4月1日起为13%）。
【提示：2009年1月20日至12月31日期间，1.6升及以下排量的乘用车享受减按7.5%的税率征收增值税的优惠政策。】
[Pure electric vehicle policy: tax rebate ratio is 100% (pay first, then refund)]
Assuming that the deductible input tax accounts for about 70% of the output tax, the VAT payable is approximately:
Sales volume*13%*(1-70%)=14.9 billion yuan
This value-added tax will eventually be refunded to Future Technology Group.
2. Consumption tax: Automobile consumption tax is usually levied at the automobile retail stage, not at the production stage.
As a producer, OEMs generally do not pay consumption tax directly.
However, since Future Technology Group has directly-operated stores, it will need to pay this tax.
Generally speaking, traditional fuel vehicles are required to pay consumption tax. The tax rate varies according to the displacement, generally between 1%-40%, with an average of 5%.
According to policy, new energy vehicles are exempt from consumption tax.
3. Urban maintenance and construction tax: usually 7% of the total value-added tax and consumption tax:
(14.9 billion + 0 billion) * 7% = 1.043 million yuan
4. Educational surcharge: usually 3% of the total amount of value-added tax and consumption tax:
(14.9 billion + 0 billion) * 3% = 0.447 million yuan
5. Local education surcharge: usually 2% of the total value-added tax and consumption tax:
(14.9 billion + 0 billion) * 2% = 0.298 million yuan
Total: 16.688 billion yuan
In fact, including the tax refund, only 1.788 million yuan in taxes need to be paid.
It’s really too little!
I have to say that the national policy is good.
Otherwise, even if corporate income tax does not need to be paid in the first three years, if fuel vehicles are produced, and all of them have a displacement of 1.6 liters or above, then it is estimated to be 24.64% of the revenue, about 94.272 billion yuan.
Tsk tsk, this tax is really horrible.
If I do the math with my peers, I’d be really jealous.
No wonder private car manufacturers are rushing to enter the new energy vehicle industry.
However, due to various factors, the joint venture factories acted much more slowly.
The general managers of the three subsidiaries did not disclose the actual profit situation.
I dare not announce it because the group is now exempt from corporate income tax and the after-tax profit is too high.
After Luo Hao finished his report, it was Liu Yixiang's turn to report from Future Intelligent Technology Company.
The car system Future 1.0 and the controller system were developed by this company, and Future Motorcycle Company and Future Automobile Company need to pay for them.
These systems have a cost.
Liu Yixiang did not report his income, so there is nothing to report.
This part of revenue will not be included in the calculation of the group's total revenue, otherwise there will be double counting.
Next, Guangxi Future Motorcycle Company and Guangxi Future Automobile Company gave their reports.
These two subsidiaries in other provinces had a revenue of approximately 10 billion yuan last year.
Most of the 10 billion yuan in revenue came from orders from the group headquarters, and there was duplication when calculating the group's total revenue.
Therefore, in 2009, the Group's revenue was approximately RMB 616 billion.
As for the actual net profit after tax, only the group's top management knows it, which is approximately 263 billion yuan.
With so much investment in fixed assets, the amount announced to the public is definitely not that much.