At present, as economic development enters the “new normal”, economic growth slows down, unprecedented innovation-intensive and industrial transformation times have come. Corporate development is facing severe challenges and new endogenous growth drivers must be found. Transformation and upgrading are imperative. .

At the recent Shandong Heavy Industry Group's work meeting, Chairman Tan Xuguang stated that under the current situation of severe overcapacity and homogenous competition in the industry, companies must stand firm and invincible and must upgrade and upgrade. This is the only way for companies to break through.

Wei Chai and Tan Xuguang: Transforming development is the only way to break through the company

Adversity fosters change. At present, Weichai , a subsidiary of the Heavy Industry Group, is focusing on the transition from general technology to core technology, from manufacturing to service-based manufacturing, from investment-driven to investment-driven dual-transformation, from domestic development to global integration, and from product operations. Five major transformations such as brand operation transformation.

Leading industry development can take the initiative. Currently, Weichai is accelerating its strategic restructuring and expanding to the high-end of the industry chain. It is committed to promoting the coordinated development of the five major business segments of powertrains, commercial vehicles, construction machinery, luxury yachts, finance, and services; and upgrading its core competitiveness through technological innovation. The three most competitive products of “cost, technology, and quality” are dedicated to building five technological solutions for commercial vehicle powertrains, construction machinery transmission systems, ship propulsion systems, hydraulic control systems, and new energy powertrains; Efforts to promote the realization of overseas revenue account for one-third of the target. Mergers and acquisitions of Baudouin, the acquisition of Ferretti, and the strategic restructuring of KION shifted from general trade to global integration, building the world in global competition, and continuously promoting innovation in business models. The integration of manufacturing and services. The Weichai post-market business company has developed rapidly in recent years. It has been guided by customer value and supported by an information platform. It has continuously integrated and expanded services such as services, parts, logistics, remanufacturing, and finance to provide life-cycle services and gradually established Unique post-market service company.

Tan Xuguang stated that the future Weichai must be an internationalized Weichai, a diversified Weichai, an innovative Weichai, and an open Weichai. To achieve this blueprint, transformation and development are the best way.

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