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常熟汽饰:与中信建投证券股份有限公司关于《常熟市汽车饰件股份有限公司公开发行可转换公司债券申请文件的反馈意见》之回复报告2019-04-04  

						603035
182332
         ............................................................................................... 4
1 ...................................................................................................... 4
2 ...................................................................................................... 7
3 .................................................................................................... 11
4 .................................................................................................... 12
5 .................................................................................................... 34
6 .................................................................................................... 49
7 .................................................................................................... 50
8 .................................................................................................... 63
9 .................................................................................................... 95
10 ................................................................................................ 101
        ............................................................................................ 105
1 .................................................................................................. 105
          1.                            36




                              36


                      2013   10     25                   2017
       2,596.21                   -135.66
           1.94% -0.6%
2017      11      21


        [2017]0501                6,000




                         (2010          )            8




                                                                   5,000
                                                          50,000


2018     12       26
                                 2015        1   1




2018     12       6
                                             [2018]137
        1




        2




        3




        4                       1




4




    2019           1       10
                           2018      1   1




    1       2017       6        22


                   [2017]1108                     100
    2
        2017   7                                      200


    3 2018     3       7


         [2018]191                              200
    4   2019       3       19


               [2019]150185          200




                                36




                                       36




                                           36




                                           /
/                                      /              36
2.
5%

5%
      1
                  2




            10%         2018
                  20%             10%




                      20%


      20%




10%
                            10%
                    36


            10%




                         10%




002239.SZ    2018
            3.                        18.9       /




                 18.9    /


-       -




                                                           2019
    8                                 3
                  2019   3       20       2019           0004721




                                      18.9           /


                             -    -
                                2019   8
                        3




                 18.9   /




                                           18.9
/




                                                18.9
    /




        4.2018   1-9               54.82%
                                                    1


                            2
                        3                   4
                                                5
       1
           1



                           60%                                           40%




                    100%
                                       100%




                                              2019      1
                                                                               50%
                                     90%



                                                                    50




           2
               MAGNA INTERNATIONAL
                HONG KONG LIMITED

                   51%               34%                      15%




                                                     Magna International Inc.”
1957
     3          SMP


          SMP Deutschland gmbh


            50.001%                                               49.999%




         100%                          100%                             100%




                                                  Peguform GmbH & Co. KG       2011
Peguform GmbH & Co. KG                 Samvardhana Mother Group
                                 SMP Deutschland GmbH




     4




          50%                                              50%




                             1949             3,650
22                           6




     5
           Greiner Perfoam
          GmbH

           49%                           51%




                    150




2




    25%           35%            10%   20%            10%




3


                          2010    8            2018     9   30
                100           100%
   2017 10
                 1,860                   52%      43%
                         5%




2017     2018




                                           2018
       997.99                   42.09%




                                                   “   ”


                                          SMP
                                              2018       3
      10%         10%   20%
                                            2018     5




                                        SMP




                                                   12


                                                         20%
                                              1

                                  30%
                              2
            70%




                                  20%




                                        1
SMP
                  2
 Greiner




                    1
            2                                               3
                                                            4

                                                                     5

                                                      50%




                    2017                 2016           2015
           33.32%       0.00%            145.67%            0.00%

                           70%                  70%
                -


                -
                -

                -

SMP
           78.12%       44.22%           106.36%            89.89%

Greiner         -
                -

                -


      1                          /
      2                              /




                                           33.32%     78.12%
1


          2018       1-9           2017                2016                   2015


          531.42       0.83%     736.24    0.73%     574.94    0.69%         392.09         0.54%
            1.97       0.00%     485.31    0.48%     301.34    0.36%          25.59         0.04%
                 -          -    147.99    0.15%     604.15    0.72%         731.77         1.01%
                 -          -    135.58    0.13%     179.33    0.22%              -             -
          163.42       0.25%     717.18    0.71%           -       -              -             -
                 -          -     52.80    0.05%           -       -              -             -
          696.81       1.08%    2,275.10   2.26%    1,659.76   1.99%     1,149.45       1.59%



                                                                  PP
          B8 PA                                PP
          PP
                           B8




                                                                       T15
    T15                                                                      T11FL2
             T11FL2
                                                                                        XC51
                     XC51
                                                                        2018          1-9




                                                                         43%
                                2017        2018
                                                   T15 XC51




    2


             2018       1-9                2017                 2016                 2015


            12,894.28     12.40%       15,920.67   11.89%   16,037.41   11.16%   15,193.65    14.88%
            11,857.53     11.41%       18,850.54   14.07%   17,372.99   12.09%   23,583.48    23.09%
            16,093.57     15.48%       10,227.97    7.64%   13,099.92    9.12%    5,341.90     5.23%
             8,061.41         7.75%     9,962.69    7.44%    7,367.09    5.13%    4,794.98     4.70%
             5,387.76         5.18%     1,074.14    0.80%           -        -           -          -
             2,637.68         2.54%      605.16     0.45%           -        -           -          -
                 4.91         0.00%         0.13    0.00%           -        -           -          -
                 7.50         0.01%         0.79    0.00%           -        -           -          -
                    -             -       13.18     0.01%           -        -           -          -
                    -             -       26.37     0.02%           -        -           -          -
               14.72          0.01%            -        -           -        -           -          -
               31.42          0.03%            -        -           -        -           -          -
            56,990.77    54.82%        56,681.64   42.32%   53,877.41   37.50%   48,914.01    47.90%



                                                                                 B7L    B8L
             C7 Q3 Q5


                                                                                    F18       F30
                C7 Q5                                B7L B8L
/
                                                                                             L550
L538 X260 X760                             CF11 CF16                       ES8
        /
                                                                                   X156       V213


                                                                                   KC-2       CS11
          A-SUV                             Z177                                 /


                                                                     K426




1-2




3


      2018       1-9             2017                2016               2015




      804.68       19.57%      756.99   15.00%     593.36   17.43%    469.34    14.88%
      580.39       14.11%      534.25   10.58%     520.66   15.29%    468.55    14.86%
      154.07           3.75%   162.79   3.22%      138.76   4.08%     195.61     6.2%
      153.69           3.74%    66.84   1.32%           -        -          -        -

             -             -        -        -      11.35   0.33%      150.1    4.76%

      357.21           8.69%   467.99   9.27%      385.49   11.32%    144.74    4.59%
       84.55           2.06%     1.71   0.03%           -        -          -        -
      2018     1-9               2017                  2016                      2015




     866.54      21.07%      1,248.28   24.73%            -             -             -             -
        2.99         0.07%          -        -            -             -             -             -
      76.25          1.85%          -        -            -             -             -             -
      10.26          0.25%          -        -            -             -             -             -
    3,090.63    75.15%       3,238.85   64.16%   1,649.63      48.45%        1,428.34       45.30%




1

                                                                                      /       /

                                          2018   1-9          2017           2016            2015

                                            20.67 21.70              20.67          18.85           18.75

                                                  21.00              21.00          21.00           20.00


                                            15.00 16.20              15.00          15.00           15.00

                                            16.67 17.50              16.67          15.00           15.00
                2018   1-9        2017           2016                2015


                        15.75            15.75          15.75                   15.00




 2

                                                             /          /

                         2018
                                      2017           2016                   2015
                         1-9

                                  -          23.89           24.50                 23.33

                              24.42          22.20           22.34                 22.20
                              24.42          23.33           23.33                 23.33

                                  -          23.33           23.33                 23.33

                              19.42          17.58           17.58                 17.58




  3

                                                             /          /

                       2018     1-9   2017       2016            2015



                              26.25      60.00           -                  -

                          35.31
                                         28.50           -                  -
                              35.81

                              26.67      25.40           -                  -

                              27.50      27.50           -                  -

2017
2017           60             2018
       2,200
    4

                                                                                                /            /

                                                       2018     1-9          2017             2016               2015

                                                                       -                 -               -              35.67

                                                                  47.47              43.23           39.23              33.33

                                                                       -                 -               -              43.50


                                                                       -                 -           43.50                  -




    5

                                                                                                /            /

                                                2018     1-9          2017             2016            2015
                                                          42.36              42.36              -                  -
                                                          42.36                  -              -                  -




4



2018    1-9      2017           2016            2015

          8.75          11.51          11.05            10.11



                  Kumeliusstrasse 1961440 Oberuseel/Taunus




5
2015      2016          2017      2018         1-9
                  920           905              1,093                936.14


1
2015 6
               58.50
   2014 12               2015    6
                                           AUDI C7 IP
                           1,000
   2016          8
                                           18.98       2016   12
                                                               B8L
                                     148           554.64




       2




           1            Karma
                                              Karma


2015                                                  Karma
                                                                                   450


           2              SGM980
                        SGM980
2015 11                                               SGM980


                                                                   142.31
           3           NCV3
                                                                            NCV3


NCV3
                       387.44
          4             fisker
                                                                    fisker
                                  Fisker
      181.50                                Fisker
                         172.29                         Fisker




      3
      2014 6       4                                                              1
  4,180            2015     6    4                                           12         2015
  7    3                2015


               4,180                                               34%
                                     2015    9     9
42,837,062.40           2015 9                                    4,180
      2018     7   3


                                  660
                                  2019 12          31


      4
      2018 2       9                        2018


                                                                                  20%
                                      27,500                       10%
                       27,500                               10%
    2015        2016     2017      2018   1-9
48,914.01        53,877.41        56,681.64        56,990.77
            47.90%   37.50%    42.32%   54.82%




                                   SMP Greiner




                        2006     2016
                                                  60%
                                                40%

                        2005     2016
                                                  60%
                                                40%

                                                  60%
                        2017
                                                40%
                                                   60%
                    2017
                                                 40%
                                                   51%
                    2004                         34%
                                                 15%
SMP                                  SMP50.001%
                    2001
                                              49.999%
                                              51%
                                     Greiner Perfoam GmbH
                    2017
                                          49%
Greiner
                                              51%
                                     Greiner Perfoam GmbH
                    2017
                                          49%

                                                 50%
                    2018
                                     50%
      2019 1
                           50%                                                   90%




  2017     2018
                                     2017        2018    1-9
1,679.43       8,076.49                                         1.25%    7.76%


  2017     2018


                                 VW236                   Q3                 GT
                                            02          03
                           A-class                        GLB
                          XC60
                             3
                           A-class                 GLB              Q3           Q4
          5
                                               4




      1


              Vendor Managed Inventory   VMI
VMI




      2
                60   -90
     60
                           60
60                   25         3
25               4         25




 1
          200




 2
                                   (%)                              (%)
1     1                                  5                                  5
1 2                                     20                                 20
2 3                                     50                                 50
3                                      100                                100




                2018-9-30      2017-12-31       2016-12-31     2015-12-31
              2018 1-9         2017             2016           2015
                    1,205.16         906.18           756.66         767.62
                      0.49%          0.40%            0.36%          0.61%
                      298.98         149.52           -10.96         157.84
                      0.96%          0.66%            0.05%          0.71%




          2018-9-30       2017-12-31          2016-12-31       2015-12-31
                1.03%            0.90%               0.89%            0.60%
                0.41%            0.49%               0.62%            0.77%
                6.15%            6.09%               5.89%            5.96%
                3.23%            5.03%               5.12%            5.48%
                0.41%            0.18%               0.55%            0.48%
              0.11%          0.01%          0.01%          0.00%
              0.20%          0.36%          0.38%          0.58%
              5.16%          5.38%          5.36%          5.43%
              2.09%          2.30%          2.35%          2.41%
              2.23%          3.34%          3.49%          2.43%
                                     2018




   1             1-2          2-3           3-5         5
 0.24%~0.38% 4.88%~39.18% 6.37%~46.90% 95.08%~99.95% 95.08%~99.95%
  3
0% 4 12           30%          75%          100%          100%
       5%
      5%          20%          50%          100%          100%
      5%          20%          50%          100%          100%
  6
                                       3-4   50% 4-5
0% 7 12           10%          30%                        100%
                                              100%
       5%
  6
0% 7 12           20%          50%          100%          100%
       5%
  6
0% 7 12           20%          50%          100%          100%
       5%
      5%          30%          50%          100%          100%
      5%          20%          50%          100%          100%
                2017
1


2
3


4


5




1


2
3


4
      5




          5.     2018 9   30           12.29       2018
1-9              3.41                   1
                                   2
                                               3
               50%             4
          2015      1    1                                     2015      12
                                                                31



49.999%          27,612.40              10,022.80   9,999.80          27,635.40
   40%                       2,110.98    1,568.22                      3,679.19
   40%            7,993.65               2,787.13                     10,780.78
   34%             771.24    5,995.81   -1,864.37                      4,902.68   771.24
                 36,377.29   8,106.79   12,513.78   9,999.80          46,998.06   771.24




          2015      12                                         2016      12
            31                                                  31



49.999%          27,635.40               9,025.56   8,999.82          27,661.14

   40%            3,679.19               1,353.05                      5,032.24

   40%           10,780.78               1,679.05                     12,459.84

   34%            4,902.68                 90.84                       4,993.53   771.24
                 46,998.06              12,148.51   8,999.82          50,146.75   771.24
           2016     12                                            2017       12
            31                                                     31



   51%                        510.00       -46.37                            463.63
   51%                        510.00       -31.45                            478.55
                             1,020.00      -77.82                            942.18


49.999%          27,661.14              11,284.97    9,999.80            28,946.31
   40%            5,032.24               1,986.04                         7,018.28
   40%           12,459.84               2,488.35    2,400.00            12,548.18
   34%            4,993.53          -     406.43                          5,399.96    771.24
   40%                       3,800.00     -986.54                         2,813.46
   40%                       1,000.00     -611.54                            388.46
                 50,146.75   4,800.00   14,567.70   12,399.80            57,114.65    771.24
                 50,146.75   5,820.00   14,489.89   12,399.80            58,056.83    771.24




          2017     12                                           2018     9     30
           31
   51%      463.63      255.00      -142.90                             575.73
   51%      478.55      255.00      -142.20                             591.35
   50%                 1,000.00                                        1,000.00
            942.18     1,510.00     -285.10                            2,167.09


49.999%   28,946.31                6,865.25   4,999.90                30,811.66
   40%     7,018.28    2,672.84    1,805.90                           11,497.02
   40%    12,548.18                1,557.69                           14,105.88
   34%     5,399.96                 -275.22                            5,124.73   771.24
   40%     2,813.46               -1,527.95                            1,285.51
   40%      388.46                  -388.46
   20%                27,500.00    3,728.69              27,500.00    58,728.69
          57,114.65   30,172.84   11,765.91   4,999.90   27,500.00   121,553.50   771.24
          58,056.83   31,682.84   11,480.81   4,999.90   27,500.00   123,720.58   771.24
             2015
    1                                                      2015 7
                                      1,500.00                 3,562.50
720.00                 1,545.00                                                     2015    8
                      21,109,770.00                   3,300,000.00
    2                                                      2015      12
                                          11,540.00                13,490.00
4,300.00                 5,080.00                                           17,121,046.80
         2,652,000.00
             2016
    2016
             2017
    1     2017    2               Greiner Perfoam GmbH


1,500                           51%            2017    4       7                     255
2017                                510


    2 2017        3               Greiner Perfoam GmbH
                                            1,500                                      51%
    2017     4         11                       255           2017                           510


    3 2016       8                                                   2016
                                                                                     2017 3
                                                      4,500                                  40%
                 2017       5                1,800                   2017    11


                                              9,500                   2017     12
2,000
      4 2016       8                                                   2016
                                                                                        2017 4
                                                        2,500                                40%
                  2017     6                    1,000


                2018     1-9
      1
2018 6


  400                                                                                  600
                                        1,545               2,545             2018 7
          26,728,400                     4,000,000.00
      2    2017    10
  Wirthwein AG
2,000                                     50%            2018    3                           2018
  4                             1,000


      3                                                                       1,500
          51%                  2017         510             2018     5                255


      4                                                                       1,500
          51%                  2017         510             2018     5                255


      5 2012       -2013                                                 10%


                       2018 2 9                                 2018
                  27,500                                  10%                 2018 3


          10%           20%
           2018   5




1
                             2




2




3




4


    1
                      2011




4,652.01


    2
    3
    4


                          2015
               300.72            399.95


    5                   1 ~ 4


5
2012      -2013                                               10%


                                                                          2018 2      9
                              2018                                    27,500
                        10%               2018   3
                                                                    10%         20%
        2018        5




                                                                                 2


                                                                          10%




                                       50%
1   2017        2                    Greiner Perfoam GmbH
                                                            51%
   4                     2




2 2017   3   Greiner Perfoam GmbH
 51%                           4                                         2




                                                      50%




                2018    1-9        2017            2016           2015
                         -142.90          -46.37
                         -142.20          -31.45
                        6,865.25    11,284.97        9,025.56      10,022.80
                        1,805.90     1,986.04        1,353.05       1,568.22
                        1,557.69     2,488.35        1,679.05       2,787.13
                         -275.22      406.43              90.84    -1,864.37
                       -1,527.95      -986.54
                         -388.46      -611.54
                        3,728.69
                       11,480.81    14,489.89       12,148.51      12,513.78

                        5,000.00     1,500.00        1,155.14       1,023.52


                          95.22       412.04

                       17,500.00
                       34,076.03    16,401.93       13,303.65      13,537.30
                                                          2018   3
                        10%
                      2018    1   19


        2018                                  500,000,000              2018    3
             5,000




3-6                                                  2017             412.04
2018 1-9                      95.22


                                                            17,500


                                                          10%




      2015           2016         2017             2018    1-9
13,537.30        13,303.65             16,401.93          34,076.03
1
        SMP




    1




    2
    3




        500




2
                  2018      1-9




       1
      2018
                              2


                      10%
 17,500                                                                         4,375
2018       1-9
                                                           3,728.69


       21,228.69                  2018   1-9                             62.30%


       2


                             2018
10%
2018 1           19
                                                                                        2018
                                  500,000,000                    2018     3                  5,000
                                                                  2015          2016           2017
                                                1,023.52       1,155.14           1,500.00
                            2018                                         2018    1-9
                      14.67%
       3
                                                              2018
                                                                                    2018
                                       2,049.13        2,049.06
0.87%     1.49%                                   1,735.10           1,726.00
        0.13%     0.64%


    2018    1-9




                  2018
                                  2017            21,525.55                  2018    9
88,069.01
                                                       2017
                          2018   1-9
-454.17
                                                                                2018     1-9




                                                                                    2018   1-9


                                                               2018    1-9




    1
2


3   50%




4


5




1


2


3    50%




4


5
1


2


3        50%




4


5




    6.
                          7.          2016                                           “
     ”                        2018    9
            1 “                                          ”“                                   70.5          ”“
                                                     ”


                 2018                                            2 “                                     ”
                      3        “                160                    ”


            4




                 “                                       ”     “                                70.5           ”
“                                                        ”


                      2018


          IPO                                                                               14
            33




                                      9,889.21                                     7,889.21
          2,000.00                                                               6,446.21
            3,443                                                            2              1    PU                   7
                                             2,000
             86.88                   109.38




      2018     7-12



                             11,041.28          7,224.61
                              1,156.01            582.01
      2018     7-12                                   1
                                                                 2018




                            2


                      3




                                     70.5
IPO                               70.5      /                       2
              42




                      35,000.00                      31,000.00
 4,000.00                                           15,063.18
      19,936.82
        4,000.00
            2018   7-12



                                16,900.00         4,327.63
                                 1,697.50          -155.09
            2018    7-12                                1
                                                                    2018




       2




                                                        4,914.80
                                500                     300
 3,914.90                             200
500                                                      4,414.80
                                             PC




       “                               ”




             2013     4    15
                                          “
                   ”




2018




2020                                           150
                    3,500
            2018-2020




                        160
       35                     100
              “               160   ”




                                                 7
                                                160
                                 35                   100


1




          2018




          2020
    150                    3,500
                     2018-2020




2
                                 160
                35                     100
            /


                                             2018
         8




     8


3


                                         2018
                                                7.1%


                           2018    8
             30                   SUV




4




                  “CAIP           ” “CAIP
”


                              MG        TF
     B
         5




                                                                                                    20




                                                   160
    24


              1   2   3   4   5   6   7   8   9    10 11 12   1   2   3   4     5   6   7   8   9   10 11 12
1

2

2

3

4

5

         “                                   35                          100
                  24


              1   2   3   4   5   6   7   8   9    10 11 12   1   2   3   4     5   6   7   8   9   10 11 12
1

2

2

3

4

5
1




           52,500
          326,459
    IP
          297,940

     &
          285,920
            90,000
            99,554
            44,933
             9,000
         1,206,306




2
30




                                          160
                          35                    100




                          160                                  24
             81,329.40                    10,176.40
          18.58%                   6.71
                         35                 100
     24                        75,658                 12,353
          14.38%                   7.12
                        “                                     160
”
     1
     2017 10    25


                                                  7,000
                             160
     2017 11    10                  2017
     2
         1
                             2017   10     25


         2
     2017 10    25




         3
               IPO                          2017 10   25




     3
     2017 10    26                                         www.cninfo.com.cn
                     www.sse.com.cn




     2017 11    11                                         www.cninfo.com.cn
                   www.sse.com.cn
                                                               2017


                                                                       2013
                           2   ——
    [2012]44


                      “                                         35                 100
                     ”
1
2018 1        24




                     36,433                                                    35
        100
2018 2        9                   2018
2
    1
                               2018   1   24


    2
2018 1        24




    3
          IPO                                  2018   1   24




3
2018 1        25                                           www.cninfo.com.cn
               www.sse.com.cn




2018 2      10                       www.cninfo.com.cn
               www.sse.com.cn
                                     2018


                                                   2013
                     2 ——
    [2012]44




1
    70.5




                     70.5
                         2018
           70.5


2


3                                      160
                                35           100
4




                              160
                         35         100




1
    70.5




                  70.5
                     2018
           70.5


2


3                                   160
                                    35           100




4


              8.                            “                             ”
                             1


     2
                                                          3
                                                               4


                                                                    5)


          6
         7




    2013                                   12.25% 2017
                   2,901.5       2,887.9               3.19%       3.03%
9
                                                   2018
                                                            2015
             119        /
500   /


           2018     6       30                  2.29               10
                             2,290




                    11           2007-2017
 10%-15%                         7%                                       8
                                                1:0.8                   1:1.7
                                 3




                                      2009   2017
24.16%                                        2018
             2018                                   9.73%
2018




                  54.01   /


       18.9   /
           2018      1-9
             74.60% 73.33% 59.32%     67.74%




                                               3,443
         2,000                1,443                    2
1   PU           7
          Vinfast




                    54.01   /
                                18.9   /




1


Vinfast


2
                                         54.01       /                                          18.9
          /




          1
                           30,211.84                                 30,211.84




1                           26,560.84     87.92%         25,794.65      766.19     26,560.84    87.92%
1.1                          6,851.36     22.68%          6,851.36           -      6,851.36    22.68%
1.2                         18,346.18     60.73%         18,346.18            -    18,346.18    60.73%
1.3                            342.11      1.13%            342.11            -       342.11     1.13%
1.4                            255.00      0.84%            255.00            -       255.00     0.84%
1.5                            766.19      2.54%                 -       766.19       766.19     2.54%
2                            3,651.00     12.08%                 -     3,651.00     3,651.00    12.08%
                            30,211.84    100.00%         25,794.65     4,417.19    30,211.84   100.00%
              1
                                       13,000
                  40,000


                                                                                 13,000
      1                                   2,730.76

                                                                                   40,000
      2                                   1,998.40
 3             700.21


 4            1,421.99

              6,851.36         -
      2




1.    1600T              3   800.00   2,400.00
2.    2700T              2   850.00   1,700.00
3.    850T               4   400.00   1,600.00
4.    1300T              7   500.00   3,500.00
5.    450T               1   120.00     120.00
6.                       1   200.00     200.00
7.                       1   360.00     360.00
8.                       1   160.00     160.00
9.                       1   550.00     550.00
10.                      1   150.00     150.00
11.                      1    70.00      70.00
12.                      1   200.00     200.00
13.                      1   140.00     140.00
14.                      2    80.00     160.00
15.                      1    60.00      60.00
16.                      2    90.00     180.00
17.                      1    10.00      10.00
18.                      1     5.00       5.00
19.                      1   270.00     270.00
20.                      1   550.00     550.00
21.                      1   250.00     250.00
22.                      1   200.00     200.00
23.                      1   120.00     120.00
24.                      1    60.00      60.00
25.                      1    20.00      20.00
26.                      1   670.00     670.00
27.                      1   650.00     650.00
28.                      1   300.00     300.00
29.                      1   650.00     650.00
30.                      1   100.00     100.00
31.   ABC                1   360.00     360.00
32.                      1   220.00     220.00
33.                      1   320.00     320.00
34.                      1   350.00     350.00
35.                      1    20.00      20.00
36.                      1   160.00     160.00
37.                      1    21.18      21.18
38.                      1   500.00     500.00
39.                              6                 90.00               540.00
40.                              1                150.00               150.00
41.                              1                300.00               300.00
                                60                     -            18,346.18




      3




                                                             2002
                                                                        15.00
               10
                                                             2002
                                                                        25.00
               10
                                                                        25.00
                                                   0.4%                 27.41
                                                   0.3%                 20.55
                                                                        34.26
                    0.5%
                                                                        68.51
                     2007 670
                                         2,100                          30.87
                                                           0.5%         91.73
                                         2,100                           3.78
                                     -                                 342.11
      4
                                 SAP+WMS+MES


      5
          766.19
              3%                                 2.54%
      6
                     3,651
           2        54.01       /
                     32,778.06                    2,066.71
                            30,711.35




1                  28,371.11        86.56%        27,544.81      826.34      26,304.44      85.65%
1.1                10,566.62        32.24%        10,566.62           -      10,566.62      34.41%
1.2                 2,066.71         6.31%         2,066.71           -              -            -
1.3
                   14,221.94        43.39%        14,221.94              -   14,221.94      46.31%
1.4                   689.54     2.10%               689.54            -        689.54       2.25%
1.5                   826.34     2.52%                    -       826.34        826.34       2.69%
2                   4,406.91    13.44%                    -     4,406.91      4,406.91      14.35%
                   32,778.06   100.00%            27,544.81     5,233.25     30,711.35     100.00%
               1
                                 35,441.41                    7,311.93




                                                                       35,441.41
                                                                   7,311.93
       1                               7,065.48




       2                               2,338.96


       3                               1,162.19
                                      10,566.62                      -
               2




      1.                                              1           500.00                 500.00
                           -CX11   -
2.                                     1      130.00      130.00
3.                                      1      105.00      105.00
4.                                      1      600.00      600.00
5.                                      1      180.00      180.00
6.                                     10        5.00       50.00
7.                                      2      365.00      730.00
8.    KM2700T                           2      880.00    1,760.00
9.    KM2300T                           2      600.00    1,200.00
10.   KM1300T                           5      330.00    1,650.00
11.   KM1300T                           1      440.00      440.00
12.   KM850T                            5      250.00    1,250.00
13.                                     1    1,000.00    1,000.00
14.                                     2       15.00       30.00
15.                                    14       24.95      349.30
16.                                    28        1.10       30.80
17.                                     3       60.00      180.00
18.                                     1       80.00       80.00
19.                                     1      400.00      400.00
20.                                     1      100.00      100.00
21.                                     1      450.00      450.00
22.   wip rack                          1      250.00      250.00
23.          -                          1       50.00       50.00
24.                                     1      350.00      350.00
25.                                     5       10.00       50.00
26.   MES        (             )        1      200.00      200.00
                                        1
27.                                            75.00       75.00
28.                                     1       5.00         5.00
29.                                     6       0.25         1.50
30.                                    30       0.45        13.50
31.                                    18       0.80        14.40
32.                                     1      50.00        50.00
33.                                     1      15.20        15.20
34.                   120KW             1      25.00        25.00
35.                   90KW              1      25.00        25.00
36.                                     1     250.00       250.00
37.                                     1      60.00        60.00
38.                                     1     100.00       100.00
39.                                     1     150.00       150.00
40.                                     1     250.00       250.00
41.         AUBS 50t/25t                1     150.00       150.00
42.         AUBS 25t/10t                1      60.00        60.00
43.                                     1     185.00       185.00
                                       158         -    13,544.70
                                                                     5%
677.24
      3




                                                             [2016]504
                                                                          105.67

                                                                          105.67
                          2007 670
                                                                            2.00
                                                              2002
                                                                          105.67
                 10
                                                              2002
                                                                           10.57
                 10
                                                                     (
                                                                           20.00
                        [2002]125   )
                                                      0.3%                 31.70
                                                                          123.94
                        0.5%
                                                      0.4%                 42.27
                                                             0.5%          67.72
                                            2,100                          61.53
                                            2,100                          12.81
                                        -                                 689.54
      4
           826.34
                 3%                                 2.52%
      5
                         4,406.91




  3       18.9      /
           26,519.22                         26,519.22
1                         24,380.32    91.93%   24,380.32   2,138.90     24,380.32    91.93%
1.1                        9,917.23    37.40%    9,917.23            -    9,917.23    37.40%
1.2                       13,577.54    51.20%   13,577.54          -     13,577.54    51.20%
1.3                          782.98     2.95%      782.98          -        782.98     2.95%
1.4                          102.57     0.39%      102.57          -        102.57     0.39%
2                          2,138.90     8.07%           -   2,138.90      2,138.90     8.07%
                          26,519.22   100.00%   24,380.32   2,138.90     26,519.22   100.00%
            1




            IP        (
      1.                                         1          250.00              250.00
      2.         IP      (                        1         150.00              150.00
      3.          IP       (                      1         105.00              105.00
      4.         IP      (                        1         800.00              800.00
      5.            IP       (                    1         280.00              280.00
      6.            IP       (                    1         250.00              250.00
      7.          KM2700 musell+                  1         840.00              840.00
      8.                 KM2300                   1         620.00              620.00
      9.                       KM1600             1         440.00              440.00
      10.                      KM1300             2         380.00              760.00
      11.                      KM850              2         260.00              520.00
      12.                 HT470                   1          65.00               65.00
      13.                 HT320                   1          40.00               40.00
      14.                                         1          80.00               80.00
      15.                                         1         600.00              600.00
      16.                                         7          22.00              154.00
      17.                                         2           1.80                3.60
      18.                     +                   1         300.00              300.00
      19.                                        10           3.00               30.00
      20.                                         1           9.00                9.00
      21.                                         2          27.00               54.00
      22.                                        16           4.00               64.00
      23.                                        30           0.35               10.50
      24.                                        40           0.50               20.00
      25.                                         1         370.00              370.00
      26.                                        18           1.00               18.00
27.                                              1     130.00            130.00
28.                                              1     800.00            800.00
29.                                              1     200.00            200.00
30.                                              1      20.00             20.00
31.                                              2       9.00             18.00
32.                                              2       8.70             17.40
33.                                              5       2.80             14.00
        MES syetems(include bar code,error
34.                                              1     200.00            200.00
                   proofing)
35.                                              80      0.40          32.00
36.                                              40      0.45          18.00
37.                                               1    150.00         150.00
38.                                               1     50.00          50.00
39.                                              20      0.50           9.90
40.                                               4      0.15           0.58
41.                                              10      1.62          16.20
42.                          120KW                2     18.90          37.80
43.                                               1    168.00         168.00
44.                                               1    130.00         130.00
45.                 AUBS 50t/20t                  2     60.00         120.00
46.                                               1    120.00         120.00
47.                                               2    180.00         360.00
                                                 323        -       9,444.98




                                                                  5%
  472.25
        2
                                       -     -


                                                            3




  6.4   /
                                                                122.34       ×
                          6.4   /
        3
                              [2002]125                      6.00
                                     0.5%                   47.22
                                  2,100                     36.75
                                  2,100                     12.60
                                -                          102.57
         4
             2,138.90




     4
                 11,800


         1




1                1                        500.00           500.00
2                1                      5,000.00         5,000.00
3                1                     10,000.00        10,000.00
4                1                     20,000.00        20,000.00
5                1                      4,500.00         4,500.00
6                1                      3,000.00         3,000.00
7                1                      2,000.00         2,000.00
8                1                      4,000.00         4,000.00
9                1                      5,000.00         5,000.00
10               1                      2,000.00         2,000.00
11               1                      2,800.00         2,800.00
12               1                      2,200.00         2,200.00
13               1                      2,000.00         2,000.00
14           2   (        )       99.2122          99.2122
15           2   (        )       198.537          198.537
16               1                 246.00           246.00
         2
                                                  2018-2020




    A
    2013        -2017                             85,185.23           108,835.07
102,122.39         143,685.03      133,937.85                                        13.88%
                        3
                                 2018     -2020                               13.88%
    B




            2017                   2018-2020
            =                   /2017


    C
            2018-2020                     =                            -


    D
    2018-2020                                                         =
        -
    E
                                   2018         2020




                 2017   /2017                 2018     /2018   2019   /2019   2020     /2020
                             133,937.85                   -       152,525.16      173,691.92      197,796.12
                             104,434.30                   -       118,927.23      135,431.43      154,226.00
                              10,791.32               12.80        13,044.84       14,099.20       16,811.76
                              41,954.19                2.99        59,996.28       56,102.42       76,107.95
                               3,149.60               44.95         3,637.03        4,091.41        4,709.54
                              20,627.46                5.72        20,933.45       26,395.10       27,501.50
                              76,522.56                   -        97,611.59      100,688.13      125,130.75
                              10,094.02               16.25         8,675.27       12,698.74       11,641.46
                              30,424.32                3.81        49,597.41       41,529.38       62,243.59
                               6,603.15               28.61         4,058.76        8,082.76        5,743.71
                              47,121.49                   -        62,331.44       62,310.88       79,628.76
                              29,401.08                            35,280.15       38,377.25       45,502.00
                                                                    5,879.07        3,097.10        7,124.75
2018-2020                                                                                          16,100.92
                                                                                          5,879.07
   3,097.10                  7,124.75                   16,100.92




       5


                                                                                   105,389.42
                42,485.35                               /


                                                                                                      /

                                                               44,440.18          18,346.18               2.42
        54.01          /                                       35,414.22          14,221.94               2.49
        18.9       /                                           25,535.02           9,917.23               2.57
                                                              105,389.42          42,485.35               2.48
            1
                                  5               /


                                           2017              2016           2015         2014         2013
                           114,753.11     133,937.85        143,685.03     102,122.39   108,835.07    85,185.23
                            56,485.59      73,538.11         62,764.92      56,222.38    48,216.03    41,686.53
            /
                                 2.05           1.82               2.29          1.82          2.26          2.04
               5           /               2.05


                   /                                                   5
               47%-50%                                                     /


           2
                       /


                                                                   /
                                                  [     ]

                               22,082.55               7,737.11        2.85

                               33,800.00              12,734.00        2.65
70.5   /

                               24,999.08               8,216.50        3.04




                   /


           3
                                                            /



                                                                   /

                                    7.38                    2.81       2.62
                                    4.43                    1.80       2.46
                   /




       1
                                      23.77%



                                                         766.19                0.77%
                                                       3,651.00                3.68%
        54.01       /                                    826.34                0.83%
                                                       4,406.91                4.44%
    18.9        /
                                                       2,138.90                2.16%

                                                      11,800.00               11.89%
                                                      23,589.34               23.77%
2




                54.01           /                                 2,066.71


                18.9        /                  ”                        -     -


    3
                                    122.34                              6.4    /
                        782.98
3
                                                    2018   11     9
                                    54.01    /
                                IP




                Vinfast


54.01       /                   DCY11
                            /




18.9    /




                          N01
                                     C26




        54.01         /
              18.9       /




                     /                                                   54.01
/




                                      37,469.04            2017


    42.32%           39.34%


             2017                                                 2017

                              56,681.64            37,469.04          94,150.68
                             133,937.85           105,389.42         239,327.27
                                42.32%               35.55%             39.34%
                               1                 2           3-4            5-10
 1                           14,869.74         30,911.22      44,440.18     44,440.18
 2                           13,114.78         27,125.29      38,433.64     38,353.92
 3                            1,661.44          3,586.33        5,720.81     5,800.53
 4                            1,661.44          3,586.33        5,720.81     5,800.53
 5                              415.36            896.58        1,430.20     1,450.13
 6                            1,246.08          2,689.75        4,290.61     4,350.40
      1
                              LEU               GPM1               EC001
                         M01                          SUV                          Sedan
              MAS861




                                       115.1          /
                 44,440.18

                                  1               2          3-4            5-10
                                   42.78          83.84            174.60          174.60
LEU                /              106.94         104.80            102.71          102.71
                                      0.40            0.80           1.70            1.70
                                   78.26         115.04            180.39          180.39
GPM1
                   /               78.26          76.69             75.16           75.16
                                      1.00            1.50           2.40            2.40
                                  616.79         867.26        1,699.83        1,699.83
MBU1
                   /              268.17         262.81            257.55          257.55
                                      2.30            3.30           6.60            6.60
                                  950.37        2,111.09       3,590.09        3,590.09
EC001              /              316.79         310.45            304.25          304.25
                                      3.00            6.80          11.80           11.80
EC001     +                       618.18        1,373.18       2,335.22        2,335.22
                   /              206.06         201.94            197.90          197.90
                              3.00             6.80            11.80            11.80
                           1,029.93        2,287.82          3,890.64      3,890.64
EC001
          /                 343.31           336.44           329.71           329.71
                              3.00             6.80            11.80            11.80
                            520.98         1,157.27          1,968.04      1,968.04
EC001
          /                 173.66           170.19           166.78           166.78
                              3.00             6.80            11.80            11.80
                           6,150.00       10,045.00          9,844.10      9,844.10
M01       /                2,050.00        2,009.00          1,968.82      1,968.82
                              3.00             5.00              5.00            5.00
                           2,250.00        3,675.00          3,601.50      3,601.50
M01       /                 750.00           735.00           720.30           720.30
                              3.00             5.00              5.00            5.00
                            849.26         3,440.05          5,274.37      5,274.37
SUV       /                 566.17           554.85           543.75           543.75
                              1.50             6.20              9.70            9.70
                            626.03         2,535.82          3,887.98      3,887.98
SUV
          /                 417.35           409.00           400.82           400.82
                              1.50             6.20              9.70            9.70
                            382.78         1,050.35          2,499.83      2,499.83
Sedan     /                 382.78           375.12           367.62           367.62
                              1.00             2.80              6.80            6.80
                            716.78         1,966.84          4,681.09      4,681.09
Sedan     /                 716.78           702.44           688.40           688.40
                              1.00             2.80              6.80            6.80
                             37.60           202.66           812.50           812.50
MAS861
          /                 188.00           184.24           180.56           180.56
                              0.20             1.10              4.50            4.50
                             26.90            61.90           105.40           105.40
                       14,869.74          30,911.22         44,440.18     44,440.18
      2




              1                       2               3-4               5-10
              13,115.13               27,125.48         38,432.73         38,352.54
               9,471.86               19,691.04         28,307.71         28,307.71
                  500.81                  701.90            1,098.51       1,098.51
               1,060.96                2,400.85             3,673.38       3,673.38
              949.35       1,978.72          1,978.72           1,898.72
                             80.19                80.19
                9.49         18.99                18.99               18.99
              148.70        309.11               444.40          444.40
              297.39        618.22               888.80          888.80
              676.57       1,406.46          2,022.03           2,022.03
     1
                                            ×                   ×
                                        ABS        PP     PVC




     2
                                                           ×




     3
               565                    505
                                                   60


     4


                               10                          5%
20       5%
                       3


     5
                                                          1%
                                                                 1%


     6
     3




                                                               44,440.18
                                                                      22.20%
                                                                5,800.53
                                                                      18.73%
                                                                      5.73
          54.01      /




                             1                2                 3-10
 1                            3,909.97        33,449.14             35,414.22
 2                            3,855.23        28,183.14             30,090.82
 3                               21.94         4,982.50              5,024.97
 4                               21.94         4,982.50              5,024.97
 5                                5.49         1,245.63              1,256.24
 6                               16.46         3,736.88              3,768.73
     1
                                              /


                         /




                             54.01        /
         35,414.22

                                1                 2             3-10
                                     880.00       8,536.00          8,272.00
            /                        800.00           776.00           752.00
                                       1.10            11.00            11.00
                                     529.78       1,835.29          2,489.94
DCY11
            /                        344.01           333.69           323.37
                     1.54           5.50                   7.70
                    16.62     2,519.24              3,466.68
V331
           /       472.21         458.04             443.88
                     0.04           5.50                   7.81
                   943.57     3,268.81              4,434.79
DCY11
           /       612.71         594.33             575.95
                     1.54           5.50                   7.70
               1,540.00       7,469.00              7,238.00
           /       700.00         679.00             658.00
                     2.20          11.00                  11.00
                        -     9,820.80              9,512.80
           /   1,150.00       1,116.00              1,081.00
                        -           8.80                   8.80
                     6.42          47.30                  54.01
               3,909.97      33,449.14           35,414.22

   2




               1             2               3-10
               3,855.23      28,183.14           30,090.82
               2,488.90      21,191.71           22,500.78
                    65.07         479.75             547.81
                   630.17     2,830.33              3,242.97
                   391.25     1,616.90              1,616.90
                    41.33          41.33                  41.33
                     3.91          16.17                  16.17
                    39.10         334.49             354.14
                    39.10         334.49             354.14
                   156.40     1,337.97              1,416.57
       1
                             ×                      ×
                            ABS     PP     PVC
         2
                                            ×




         3
                    528         467
                                      61


         4


                          10                5%
20            5%
                           50
         5
                                           1%
                                                   1%


         6




     3




                                            35,414.22
                                                   22.60%
                                             5,024.97
                                                   12.75%
                                                   7.96
             18.9    /
                                       1                   2                   3             4-10
 1                                    3,848.73           22,413.22           25,535.02         25,535.02
 2                                    4,014.06           18,425.18           21,053.87         21,656.31
 3                                     -197.67            3,801.16            4,271.19          3,668.75
 4                                     -197.67            3,801.16            4,271.19          3,668.75
 5                                       -49.42             950.29            1,067.80            917.19
 6                                     -148.26            2,850.87            3,203.39          2,751.56
         1
                                                  /




                                                  18.9       /
                          25,535.02

                                                                                               4-10
                                           1                     2               3

                                            664.66           3,870.65           6,270.46        6,270.46
                              /           1,777.16           1,759.39           1,741.79        1,741.79
     /
                                                  0.37                2.20            3.60             3.60
                                            688.60           4,010.08           4,877.40        4,877.40
         A45          /
                              /           1,157.31           1,145.74           1,134.28        1,134.28
                                                  0.60                3.50            4.30             4.30
                                            879.31           5,120.68           5,069.47        5,069.47
         X5                   /           1,293.10           1,280.17           1,267.37        1,267.37
                                                  0.68                4.00            4.00             4.00
                                          1,055.17           6,144.81           6,083.36        6,083.36
         X5                   /           1,551.72           1,536.20           1,520.84        1,520.84
                                                  0.68                4.00            4.00             4.00
                                            561.00           3,267.00           3,234.33        3,234.33
CS2B              /           /           1,100.00           1,089.00           1,078.11        1,078.11
              \
                                                  0.51                3.00            3.00             3.00
                                                  2.84               16.70           18.90            18.90
                                          3,848.73          22,413.22          25,535.02       25,535.02

         2
          1              2               3                     4-10
              4,014.06   18,425.18       21,053.87               21,656.31
              2,441.70   14,305.51       16,478.99               16,478.99
                68.64        403.75           456.94                  456.94
               883.27     1,592.09        1,806.79                1,806.79
               385.66        771.33           771.33              1,352.35
                     -              -                -                     15.66
                 3.86          7.71             7.71                       13.47
                38.49        224.13           255.35                  255.35
                57.73        336.20           383.03                  383.03
               134.71        784.46           893.73                  893.73
     1
                                         ×                           ×
                                        ABS     PP       PVC




     2
                                                          ×




     3
                 235                     175
                                                         60


     4


                               10                         5%
20       5%
                                 50
        5
                                  1%
                                             1%


        6




    3




                                   25,535.02
                                          23.52%
                                    3,668.75
                                          14.27%
                                          7.98




                            N01
                                       C26




1
            2
                3
4                       5
                    6
                                                             54.01   /   18.9    /
     2018
              2017      2016         2015
      1-9
     22.25%   22.03%        23.94%   29.00%         22.20%      22.60%       23.52%
      1.79%    2.04%         2.02%    2.64%          2.00%       1.04%        1.56%
     16.05%   13.22%        11.43%   14.97%          6.50%       6.53%        6.77%




                                              50%
                                                                     Vinfast




        2%                  54.01       /




1.04%                18.9       /




              1.56%


 1
                                                                         2
                                            54.01       /   18.9      /
2018
         2017     2016     2015
 1-9

 4.24%    3.33%    2.94%    4.52%   4.55%           4.00%          3.50%
    IPO




1




2




3


4
5




6


7




         9.
         1                                   2
                  “     ”
              3




2018 9


                              2018-9-30


                        7,008.00          23.81%
                        4,173.02          14.18%
                         305.52           1.04%
                         792.21           2.69%
                        4,260.31          14.48%
                          22.16           0.08%
                         128.21           0.44%
                          301.9           1.03%
                       12,438.25          42.26%
                          29,429.58               100.00%



                52.47%          42.26%




                         2018-9-30


                                       5,595.70    55.44%
                                        499.36      4.95%
                                       3,998.17    39.61%
                                      10,093.23   100.00%
                                       1,412.30    26.41%
                                       3,760.95    70.32%
                                        174.85      3.27%
                                       5,348.10   100.00%

   1


PP ABS




   2


         2017
2018    9




        2018 9                                                    42.26%




                   PPAP
PPAP


                                                 2018         9




                                       “        ”




       2018-9-30          2017-12-31        2016-12-31            2015-12-31
             627.58             654.94            719.09                759.35
             425.99             446.68            306.49                279.16
               1.99               2.01                 2.07                 2.14
             134.32             158.47            136.62                   97.75
              16.64                     -                 -                    -
                    -                   -                 -                    -
              11.95              11.14                 2.28                 1.72
             120.39              95.95                20.65                23.03
                    -                   -                 -                    -
            1,338.86          1,369.19          1,187.20              1,163.15
              2018    9



                                     1,488.35
                                       150.51
 /                                   2,876.35
                                     2,094.35
                                     1,251.18
                                      731.86
       NEVS                           598.27
                                      599.09
                                      306.55
                                      573.18
                                       37.26
                                      220.42
                                      149.15
                                      132.46
                                     1,154.63
                                        74.64
                                    12,438.25



                            PPAP
2018   9                      X35
                     PPAP
                                                             /
              2018         1-9            2017                   2016        2015
                                 13.11           13.90               16.59           16.57
                                 16.49           14.81               11.52            9.79
                                  5.16            6.13                6.04            6.09
                                  4.76            4.24                3.90            3.63
                                 14.60           11.37               10.94           10.31
                                  2.61            3.79                4.30            3.93
                                  3.04            2.99                3.14            2.99
                                  4.74            4.03                2.90            2.13
                                  8.06            7.66                7.42            6.93
                                  4.31            5.72                7.55            5.36
2018   1-9




                                                                     JIT




                                                         /
       2018   1-9                  2017                  2016                 2015
                    5.16                  6.13                        6.04              6.09
                    4.76                  4.24                         3.9              3.63
                    2.61                  3.79                         4.3              3.93
                    3.04                  2.99                        3.14              2.99
                    4.74                  4.03                         2.9              2.13
                    4.06                  4.24                        4.06              3.75
                    4.31                  5.72                        7.55              5.36
2018   1-9
   2018        9


                          1                     1-2                 2



               14,744.64         86.78%   1,352.56     7.96%      894.12         5.26%
                   9,190.17      73.89%   2,456.14     19.75%     791.95         6.37%
               23,934.81         81.33%   3,808.70     12.94%    1,686.08        5.73%
   2018        9                                                             1
   85%               2




                                                      2018 1-9                    4.31
                         83.53
2018     1-9                                                            71,912.27
       2018    9 30                                                         11,643.24
1
2


3




1
2


3




     10.




    2018   11   9
                           2018       5   9




                    2018   5      9




                    2018   5      9
        2018   3                                               Wirthwein AG
                                                       2,000
                           50%


                                            2018   7                                      (
    )                                                                           660
                     2019        12    31


                   2018     12        13


                                                                                2,400
                                                                           1,200
                                                   24
                                                                                        1,300




                                                           2018      5      9




1                         10,000                   4.55%       2018-7-24    2018-7-24    2018-12-28

2                           800                    3.80%       2019-1-18    2019-1-18     2019-4-18

3                           600                    3.64%       2019-1-24    2019-1-24     2019-4-24
           “     ”
4                                6,500           3.70%    2019-1-30    2019-1-30   2019-5-13
                2019
     221
5                                7,000           3.90%    2019-2-2      2019-2-2    2019-5-2

6                                1,300           3.85%    2019-2-20    2019-2-20   2019-5-20


7                                1,,400          3.85%    2019-3-26    2019-3-26   2019-6-26


                                                    6




           1 2018         6     25




                                                                                   400
                                                                 600
                  1,000
    1,545                      2,545
                                          40%
           2 2018         12      13


                                                Greniner Perfoam GmbH
                                                                            306
                Greniner Perfoam GmbH               294
                                                               51%
           3 2019         1       23
      40%                                             60%


            2019                     6


50%




                         15%                    5,462.50
                               90%
                   10%




                                         2018    5    9


                                                     2018   5   9




                                                     2018   5   9
                             2018
5     9




            1.




                2016    12


    2018   11      10


     2018-084
2016   12