The Weichai people said that the history of Weichai began with “dreaming.†Seventy years ago, the old generation of Weichai people who came from the war started their arduous pioneering work. Their dream was to get rid of the poor and weak caps. Say goodbye to a poor life and build a strong new China.
Weichai plant area top view
The Weichai people said that Weichai’s reforms started with “chasing dreams.†38 years ago, when the tide of reform and opening up began, they used the powerful driving force of emancipating the mind and seeking truth from facts, seizing the opportunities, meeting the challenges, and revitalizing the national drive.
Constantly seek new changes beyond self. Weichai people also have a dream that in the next 30 years, they will implement in depth an innovation-driven strategy, continue to promote the transformation and upgrading of enterprises, and turn Weichai into an international brand with a reputation for 100 years in China's manufacturing industry.
In 2016, Weichai ranked 171 in the Top 500 Chinese Enterprises, 73rd in China's Top 500 Manufacturing Companies, and 28th in the Top 100 Multinational Corporations in China, and continued to lead the internal combustion engine industry.
Establishing "Three Acts", Rejuvenating the Enterprise
In 1998, Weichai was struggling and was on the verge of bankruptcy. Tan Xu, 37, was in danger and became the youngest factory manager in Weichai's history. An aggressive and arduous reform and tackling battle has also begun.
In the Weichai Science and Technology Pavilion, along with the advanced powertrains, luxury yachts, etc., there is a display panel of “Approximately three chapters – the foundation for the establishment of a companyâ€, which is a short 72-character words and sounds like a manifesto. The opening ceremony of Kaichai Chai’s reform.
"About three chapters - the foundation for the establishment of the company" exhibition board
"Insist on principles, dare to grasp the courage to manage, do not be good old people, improper peacekeepers; throw down the body, really work hard, do solid things for the enterprise, do good things for the employees; set an example, honest and clean, require employees to do, we first We do not allow employees to do it. We will not do it."
Soon, Weichai also implemented the “three-three†system of property rights reforms that faced the market. In the industry, it took the lead in completing the separation of the main and auxiliary industries, the separation of social functions, the introduction of strategic investors, the completion of the joint-stock system reform, and the establishment of a modern enterprise system.
Weichai turns deficit in 1998
The reformed Weichai soon reborn. In 1998, it turned profitable. In 2002, it became one of the state-owned enterprises that completed the mixed reform earlier in China, and all the reformed units achieved healthy and rapid development.
With this foundation, Weichai plans development strategies according to market laws, industrial chain integration, international mergers and acquisitions, and overseas plant construction, stepping toward the future. Weichai today can be said to be reformed and reformed.
Pulling in the capital "bull nose" and perfecting the market-based operating mechanism
Holding the capital “boar nose†and perfecting the market-oriented operation mechanism is a focus of deepening the reform of state-owned enterprises.
On March 11, 2004, Weichai Power, which was formed from the high-quality assets of polymer companies, was listed in Hong Kong and became the first company in the Chinese internal combustion engine industry to list in Hong Kong, setting a record in the capital market.
Weichai Power listed in Hong Kong
Listing is not an end in itself but a means to organically combine the optimization of the structure of state-owned assets, promote the orderly flow of state-owned assets, and improve the corporate governance structure, so that state-owned enterprises can truly become market players. Listing in Hong Kong means that Weichai has embarked on the road to capital internationalization and has entered the fast lane of development.
On April 30, 2007, Weichai successfully absorbed the merger of the Hunan Torch and became the first listed company in China to convert its H shares to A shares in a merger-and-acquisition merger. This created the Weichai model for the Chinese capital market. Facts have proved Weichai's strategic vision. The combination of the Hunan Torch and Weichai has thus formed the industry's unique heavy truck gold industrial chain, achieving synergy and rapid development of all business segments.
In 2007, Weichai developed the world's first heavy truck powertrain
At the end of 2007, Weichai developed the world's first heavy truck powertrain. Later, through a series of capital operations and resource integration, Weichai listed Weichai Heavy Machinery in a backdoor, strategically reorganized Yangchai Power, and Yangzhou Yaxing Passenger Cars, co-founded Shandong Heavy Industry Group, completed upgrading of the entire industry chain, and occupied an industrial layout. High-end value chain.
At that time, most companies in the industry had not fully realized the considerable benefits brought by mergers and acquisitions, Weichai had already put “capital operations + product management†into a “two-wheel drive†strategy, pushing the company forward and becoming a leader in the domestic industry.
Weichai production line
With the outbreak of the international financial crisis in 2008, the opportunity for the global industry to reshuffle has come. Weichai, aiming at the sights of the world, sharply regained the upper hand, turning crises into opportunities and turning challenges into opportunities. Through overseas mergers and acquisitions and other measures, we followed the trend and moved toward the world, used capital for technology to upgrade the industrial chain, and used capital to optimize the market. Complete the globalization strategy layout.
Weichai Strategic Restructuring The world's largest luxury yacht group Ferretti
In 2009, Weichai acquired Baudouin in France and took the first step in international operations. In 2012, Weichai strategically restructured Ferretti, the world’s largest luxury yacht group, and achieved a major breakthrough in the dual drive of investment-driven investment alone. It took a key step in the transformation of the industrial structure and further improved its anti-risk capabilities.
There is a word circulating in the construction machinery industry: The hydraulics have gotten the world. Throughout the world, Linde Hydraulics, controlled by the German KION Group, has mastered the highest performance hydraulics technology. Investing in the KION Group and acquiring Linde Hydraulics allowed Weichai to once again master the core industries and technologies of the global manufacturing industry, and also set the record for the largest M&A of Chinese companies in Germany at that time.
Invest in KION Group and acquire Linde Hydraulics
In May of this year, Weichai invested 58 million euros to build a new German Linde hydraulic plant in Aschaffenburg. Increased Linde hydraulic drive capacity from 150,000 units to 250,000 units. In Weifang, Weichai hydraulic technology production base has been put into use.
At this point, Weichai was quite familiar with the use of the two-wheel drive strategy. The two wheels of “Capital Operation + Product Operation†rolled forward and was unstoppable. In particular, in June of this year, the acquisition of shares in the world's third largest automated logistics solution provider Dematic Inc. through the KION Group marked the completion of the globalized layout through acquisitions or self-built factories.
Deepen supply-side reform and accelerate transformation and upgrading
Under the background of the Chinese economy gradually entering the new normal, how to improve the quality and efficiency of the supply system, improve the effectiveness of investment, accelerate the transformation and upgrading, and test the wisdom and courage of decision-makers in enterprises by deepening the reform of the supply side.
In the past long period of time, Weichai was only a single engine company. Today, they have built a strategic landscape of balanced, healthy and coordinated development of the five businesses of the automotive business, engineering machinery, power systems, luxury yachts, and financial services. Weichai engines, Shaanxi Auto Heavy Trucks, Fast Transmission, Hande Axle, Zhuzhou Spark Plugs, Ferretti Yachts, Kaiou Forklifts, Linde Hydraulics and other brands have become leaders and important poles of the industry, forming a powerful Brand agglomeration effect.
These are important foundations and prerequisites for Weichai to become a 100 billion-level enterprise. Let every penny and every power play a role. Focusing on achieving precise and precise production and operation, Weichai has closely linked the development of this engine with the engine-related industry, building a diversified industrial layout and establishing a leading position in many strategic markets. Advantage.
In line with international standards, Weichai actively promoted reforms in management and business model innovation. It has set a benchmark for the industry in terms of integration, smart manufacturing, popular entrepreneurship, and innovation, and has become the first professional in the country. The Zhongchuang Space has brought about innovation and entrepreneurship in the industry; and three projects, including the “Comprehensive Pilot Demonstration for Diesel Engine Smart Manufacturingâ€, were selected for demonstration projects and special application demonstrations in the intelligent manufacturing pilot project of the Ministry of Industry and Information Technology, and continuously enhanced the gold content produced in China.
Weichai Products
Reforming the traditional single product technology innovation model, Weichai “mainly focused on me and linked innovative†R&D model, realized the overall innovation of the industrial chain and R&D system, and greatly increased the overall industry chain that focuses on engine-related industries. value.
The powertrain built by “Engine + Transmission + Axle†has brought 33 billion yuan in sales revenue in less than 10 years; the “engine+hydraulic†technology fusion has created the only hydraulic powertrain system in the world; Bo Duane's advanced technology has filled a gap of more than 16 liters of high-speed high-power engines and further improved the product chain.
Adhering to the international vision, global benchmarking, and adhering to science and technology leadership, and innovation driven, Weichai has constantly broken the monopoly in the field of technological innovation and continuously climbed the peak. It is on the same platform as the world's leading companies. In China, the United States, Germany, Italy, France and five countries established a global collaborative R & D center, has a number of top national R & D platforms such as key laboratories, formed nearly 3000 technology and patents with independent intellectual property rights. Five years ago, the new product development cycle took 32 months to three years, and now it is compressed to 24 months or even shorter.
Today, Weichai has built a full range of product platforms with engine capacities ranging from 2 liters to 579 liters, power ranging from 33 kilowatts to 9,000 kilowatts, high-speed machines and medium-speed machines, and traditional energy and new energy. One of the most complete companies in the line.
Weichai engine production line
To increase the effectiveness of investment, Weichai has begun to expand sales of services and sell standards while some companies are still strengthening hardware sales. Weichai was one of the first enterprises in the state-owned enterprises to “go global†from the domestic planned economy. It established a number of overseas marketing platforms and established a global marketing service network.
The "One Belt and One Road" strategic opportunity has provided them with a better stage for deepening the international market. It has implemented local factories and local manufacturing in India and has promoted technical output and capacity cooperation in countries such as Myanmar, Ethiopia and Belarus. Today, Weichai's domestic and international businesses each account for half of the country, becoming the gold brand for Chinese equipment manufacturing with the highest level of global coverage and the most internationalized strategy. Weichai's banner fluttered high in the international market.
Weichai overseas factory
Weichai people said that Weichai can have today, is the result of dreams and dreams. From the enthusiastic passionate industrial dreams of the nation to the dream of national dynamics that dare to lead people, and to the international dream of sailing abroad, it is the generations of Weichai people who keep in mind why they should set off in the year. They are full of enthusiasm, deepen reforms, try ahead, and work hard. Selfless dedication and honest labor make dreams come true.
Weichai dream, the vivid practice of the great rejuvenation of the Chinese nation.
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