Against the background of the severe impact of the international financial crisis, Weichai Holding Group bucked the trend and production orders continued to increase month by month. From January to March this year, all kinds of engine orders increased by 50% on average every month; in March, the output exceeded 40,000 units, and the output was close to 38,000 units, reaching the best level in history.
Tan Xuguang, chairman of Weichai, said that every economic crisis has given birth to a new round of growth. Under the impact of this round of financial crisis, Weichai was able to respond well. In addition to benefiting from the industry's revitalization plan, it also benefited from Weichai's efforts to build a well-known power brand and established industry. Technology leadership.
As a large-scale enterprise group integrating the production of engine assembly and auto parts in China, Weichai's independent innovation capability has always been at the forefront of the industry and has stood at the forefront of the world's internal combustion engine technology. In order to maintain its leading position in technology, Weichai actively introduced “outside the brain†and established R&D centers in Europe and the United States respectively, and took the lead in developing China’s first National III engine with independent intellectual property rights. Today, Weichai has developed more than 300 new products each year, and has obtained more than 100 patents. The output value of new products has already accounted for half of the total industrial output value.
For many years of market surfing, Wei Chai's keen mind was trained. As early as the end of 2007, Weichai sent a warning to the entire group that the global economic recession is approaching. In 2008, Weichai sent technical, marketing, and financial professionals to form a special research team and successively conducted research and evaluation of international capital markets, product markets, and talent markets in the United States, Europe, Southeast Asia, and other countries and regions. At the same time, the Group successively held various forms of strategic seminars in Hong Kong, Shanghai and Beijing to conduct careful and detailed studies on the future trends of the industry in both domestic and overseas markets, and formulated a set of countermeasures for corporate operations.
Since the financial crisis occurred, Weichai has taken product research and development, brand building, and value chain control as its core, promoted independent innovation, and created greater value for customers. Following the successful development of the LanQingGuo III engine, Weichai has successfully developed the National IV and National V engines with a high level of research and development capabilities. At the same time, Weichai also exploited its own industrial chain advantages to develop the world's first "powertrain" product for system matching and R&D of engines, gearboxes, and axles. The development cycle has been shortened by 1/5.
In market development, Weichai has continued to accelerate the adjustment and optimization of market structure. In the context of the overall decline in the market last year, Weichai sold more than 10,000 units in such supporting markets as bulldozers, automobile cranes, and agricultural machinery. From the orders of the first two months of this year, the sales growth trend continues unabated. In the truck market, sales of more than 20,000 units in February this year are still full of production. While consolidating the domestic market, Weichai implemented differentiated marketing measures and successively developed international markets such as Russia, Indonesia, Vietnam, South America, the Middle East, and Turkey, and achieved “the West is not brightâ€.
Confidence comes from its own advantages. As the crisis approached, Weichai’s product advantages and cost advantages became more prominent. Tan Xuguang said: “This is a winter of disappointment, but it is also a spring of hope. Weichai has the confidence to overcome difficulties and usher in another spring of career development. The more it is in the economic recession, the more it is the most innovative ability of the enterprise. A good comprehensive inspection, especially at the present time, the state has put forward a standard for improving the emission requirements of the engine and reducing energy consumption, which is definitely a rare market opportunity for engine brands such as Weichai, which has a strong advantage."
Weichai believes that financial winters, while freezing the international market, have also brought the industry an opportunity to reshuffle. In the current international market, asset prices are increasingly attractive, and Weichai has rich experience in capital operations, and it is a golden opportunity for resource integration. Tan Xuguang said that Weichai will use its abundant cash flow and advantages in capital operation to seize opportunities in the “winter swimming†and establish a new business structure for the group. In response to the storm brought about by the financial crisis, Weichai has resolved to “break the iceâ€.
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