Weichai Holding Group Co., Ltd., one of the top ten brands of diesel engines, was founded in 1946, is one of the earliest diesel engine manufacturers in China, and has automobile business/construction machinery/power system/luxury yacht/financial services/intelligent logistics and other business groups
Founded in 1946, Weichai is currently one of the most comprehensive automobile and equipment manufacturing groups in China. The group has more than 74,000 employees worldwide, and achieved operating income of 134.1 billion yuan in 2016.
Weichai Group is the only enterprise in China that has six business platforms of automobile business, construction machinery, power system, luxury yacht, financial services and smart logistics, and is an international company with cross-field and cross-industry operations, with subsidiaries in Europe, North America, Southeast Asia and other regions, and wholly-owned or holding subsidiaries in Shandong, Shaanxi, Hunan, Chongqing, Jiangsu, Fujian, Shanghai, Beijing and other provinces and cities in China. Weichai Power Co., Ltd. (HK2338, SZ000338), a holding subsidiary of the group, is an A-H listed company and the only enterprise group in China with a gold industry chain of power systems (engines, gearboxes, axles), heavy vehicles, automotive electronics and parts. Another holding subsidiary, Weichai Heavy Machinery Co., Ltd. (SZ000880), covers a full range of large, medium and small marine power and power generation equipment product platforms, and was listed on the Shenzhen Stock Exchange in April 2007. Among them, Weichai Power was listed on the Shenzhen Stock Exchange through the merger of Hunan Torch through share exchange, becoming the first blue-chip stock in China to return from H shares to A shares through share exchange and absorption merger, creating the "Weichai model" in the capital market. On January 10, 2012, Weichai Group reorganized the world's largest luxury yacht manufacturing enterprise, Ferretti Yachts of Italy, and the company began to enter the world's top yacht manufacturing field, and the industrial chain was further extended, marking a solid step forward in the adjustment of the company's industrial structure and international development. On September 3, 2012, Weichai Power, a subsidiary of the Group, signed a strategic cooperation agreement with KION Group, one of the world's leading manufacturers of industrial forklifts and a global leader in hydraulic technology, marking that the company's core technology has directly entered the world's leading level and completely changed the long-term dependence on imports of China's high-end hydraulic products. In June 2016, the company's overseas subsidiary, KION Group, wholly acquired the entire equity of Dematic, a global logistics and transportation provider, and became a global leader in intelligent intralogistics solutions.
The group has the industry's only internal combustion engine reliability enterprise state key laboratory, a modern "national enterprise technology center" and a domestic first-class product test center, with a "postdoctoral workstation", in the United States, Europe, as well as China's Weifang, Shanghai, Chongqing, Yangzhou, Xi'an and other places to establish a research and development center, to ensure that the company's technical level always keep up with the world's cutting-edge. Relying on the world's leading R&D platform, the company has undertaken and participated in 22 national "863 projects", scientific and technological support plans, international cooperation plans and scientific and technological research projects, obtained 2,489 product and technology authorized patents, and presided over and participated in the formulation of 65 industry and national standards. In 2013, the company's "Key Technology and Industrialization of Heavy-duty High-speed Diesel Engine" project won the second prize of National Science and Technology Progress Award, breaking the foreign technical monopoly on heavy-duty high-speed diesel engines. In 2016, the company's self-developed WP9H and WP10H high-end engines were successfully launched, setting the highest standard for the life of high-speed and heavy-duty engines with "1.8 million km/30,000 hours", interpreting the core needs of users of "reliable and durable", and the company has become an important force to promote the structural adjustment of the industry and the technology to the high-end.
Weichai Group is the first in the same industry in China to pass the GJB9001B, ISO9001 and ISO/TS16949 quality management system certification, has established a service network composed of more than 5,000 special maintenance service centers across the country, and has built nearly 243 maintenance service stations overseas, and its products are exported to more than 110 countries and regions such as Russia, Iran, Saudi Arabia, Vietnam, Indonesia, Brazil, etc. Brands such as "Weichai Power Engine", "Fast Transmission", "Hande Axle" and "Shaanxi Automobile Heavy Truck" are in a leading and dominant position in the domestic market, forming a brand cluster effect.
Weichai's rapid development has been fully affirmed by the superior departments and leaders, and has successively won the honorary titles of "China Industry Award", "National Advanced Grassroots Party Organization", "National Quality Award", "National Innovative Enterprise", "National Enterprise Culture Demonstration Base" and "National Civilized Unit". A number of party and state leaders have visited Weichai to inspect and guide the work, and spoke highly of Weichai's development.
With the mission of "Green Power, International Weichai", Weichai Group will strive to achieve the grand vision of sales revenue exceeding 200 billion yuan at the end of the 13th Five-Year Plan, and become a world-leading international industrial equipment enterprise group with core technology and sustainable development with the whole vehicle as the leader and the power system as the core.
