Weichai Group is the only enterprise that possesses automotive, construction machinery, powertrain system, luxury yacht and finance & services five business platforms in China. It is an interdisciplinary, multi-industry international company, with branch companies locating in Europe, North America and Southeast Asia, with wholly owned or holding subsidiaries setting in Shandong, Shaanxi, Hunan, Chongqing, Jiangsu, Fujian, Shanghai, Beijing and other cities. Group holding subsidiary-Weichai Power Co., Ltd. (HK2338, SZ000338) is an A + H listed company, is the only enterprise group possesses the gold industry chain of power system (including engine, transmission and axle), heavy vehicles, automobile electronics and parts; Another holding subsidiary-Weichai Heavy Machinery Co., Ltd. (SZ000880), covering the product platform of large, medium and small whole series of marine power and power generation equipment, and was listed in Shenzhen Stock Exchange in April 2007. Among them, through the merger and absorption of Xiang Torch listed in Shenzhen Stock Exchange, Weichai Power became the first Chinese enterprise of realizing back from H shares to A shares of the blue chip through merger and absorption, creating the “weichai model” in capital market. On January 10, 2012, Weichai Group restructured the world’s largest luxury yacht manufacturing enterprise-Italy Ferretti, began to enter into the world’s top yacht manufacturing field, and its industrial chain got further extension, marked the enterprise has made a solid step on industrial structure adjustment and international development. On September 3, 2012, Weichai Power，a subsidiary of the group signed a strategic cooperation agreement with one of the world premier industrial forklift truck manufacturer and the global leader of the hydraulic technology — KION Group Germany, marked the core technologies of enterprise directly into the world’s leading level，revolutionized the situation of long-term dependence on imports of China’s high-end hydraulic products completely. In June 2016, KION Group, one of Weichai overseas subsidiaries, took full control of Dematic, a global logistics transportation service provider, making Weichai a global leader in intelligent internal logistics solution. Weichai’s global business is further expanded and diversified, especially in North America, which strengthens its anti-risk ability.
With the sole enterprise-based national key laboratory for the testing of reliability of internal combustion engine, modern “national enterprise technology center” and the first-class level product experiment center in China, with ” postdoctoral workstation”, the group has set up R&D centers in the United States, Europe and Weifang, Shanghai, Chongqing, Yangzhou, Xi’an in china, which keep enterprise technical level always on the world leading level. Relying on the leading global research and development platform, the enterprise undertaken and involved in 22 national projects, scientific supportting plans, international cooperation plans and scientific research projects, achieved 2489 product and technology patent licenses, presided and participated in establishing more than 65 industry and national standards. In 2013, the “Key technology and industrialization of heavy-duty and high-speed diesel engine” project won the second prize of the National Science and Technology Progress Award, breaking the technology monopoly of foreign companies in the high-speed and heavy-duty diesel engine field. In 2016, WP9H and WP10H, two high-end models independently developed by Weichai, were successfully launched. They can run as long as 30,000 hours/1.8m miles, which establishes the highest standard in high-speed engine life-circle and fully meet customer’s core request for reliability and durability. Weichai has become an important drive for structure adjustment and technological advancement of the industry.
Weichai Group takes the lead in passing ISO9001 and ISO/TS16949 quality management system authentication in the same industry, sets up a service network consists of 5000 special maintenance service centers in the whole nation, with nearly 243 overseas servicing stations, the products are sold well in Russia, Saudi Arabia, Vietnam, Indonesia, Brazil, more than 110 countries. Brands such as “Weichai Power engine”, “Fast Gear”, “Hande Axle”, “Shaanxi Heavy Duty Truck” are playing a leading and dominant role in the relevant domestic market, enjoying the concentration effect of brands.
Weichai’s rapid development was fully affirmed by the superior departments and leaders, has won the “Chinese Industry Award”, “National Advanced Basic-level Party Organization”, “National Quality Award”, “National Innovative Enterprise”, “National Demonstration Base of Enterprise Culture” and “National Civilized Unit”. Several party and national leaders visted and inspected Weichai successively，gave high evaluation on Weichai’s development.