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In the past year, operating income was nearly 50 billion yuan, a year-on-year increase of 21%, and exports were 785 million US dollars, a year-on-year increase of 67%. This year, Shandong Weichai Holdings Group quickly rushed out of the trough of last year's sharp decline in production and sales, and all types of engine production and sales. Volume increased month by month, and nearly 35,000 units were produced in March, setting a record high for the same period in history.
Weichai Holding Group can take the lead in rushing out of the bottom, which is the result of many years of independent innovation. Ten years ago, Weichai fell into a near-bankruptcy situation. They firmly grasp the independent innovation and do not relax, forming a strong competitive strength and ability to resist risks. In the past 10 years, the Group's annual sales revenue has grown from more than RMB 500 million to RMB 50 billion, total assets have increased from RMB 1.5 billion to RMB 31.8 billion, and annual exports have increased from US$ 20 million to approximately US$ 800 million.
In recent years, Weichai has invested hundreds of billions of yuan and established six research and development centers in the United States, Europe, and China to ensure that the company's product R&D is synchronized with the world's advanced level. They have successively undertaken 6 national "863" projects and 29 provincial-level research and development projects, which greatly accelerated the pace of new product development. At present, the output value of new products of enterprises accounts for half of the total industrial output value. Especially since last year, Weichai has taken product research and development, brand building and value chain control as the core. After taking the lead in developing China’s first national III engine with independent intellectual property rights, Weichai has successfully developed the National IV and National V engines. At the same time, Weichai also used its own industrial chain advantages to develop the world's first "powertrain" product for system matching of engines, gearboxes and axles.
In the past, weichai engines had a single product. Although the market share was high, the risk was high. Last year, in the market downturn, Weichai sold more than 10,000 units in bulldozers, agricultural machinery, and other ancillary markets. The order growth trend in the first three months of this year remains unabated. In the truck market, Weichai’s engine sales exceeded 20,000 units in February this year. Weichai also made full use of product advantages, adopted differentiated marketing measures, and developed international markets such as Russia, Indonesia, Vietnam, and South America and the Middle East, greatly increasing the room for maneuvering.
Tan Xuguang, chairman of Weichai Holding Group, said that Weichai can quickly emerge from the trough, first of all benefiting from a series of policy measures to expand domestic demand and maintain growth. He said that we must seize the opportunity to lower the asset prices in the international market, give full play to Weichai's cash flow adequacy and rich operating experience, and strengthen the company's core competitiveness.
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