Weichai Holding Group Co., Ltd. was founded in 1946 and has a history of more than 70 years. It is a key backbone enterprise supported by the state in the field of internal combustion engine research and development, manufacturing and sales. Now it is a large provincial enterprise group managed by the State-owned Assets Management Commission of the Shandong Provincial People's Government. It owns seven listed companies at home and abroad such as Weichai Power (2338.HK; 000338.SZ), Weichai Heavy Machinery (000880.SZ), Yaxing Bus (600213.SH), and German KION (KGX.F), and nine stocks. On September 4, 2018, Weichai Group, together with the German Bosch Group, a global auto parts supplier, initiated an initiative to "resolutely win the battle to defend the blue sky" to global partners and industrial chain clusters. In March 2020, it was awarded the "Award for Overcoming Difficulties" advanced collective recognition by the Shandong Provincial Party Committee and the Shandong Provincial People's Government.
The group's main business covers six business sectors including power systems, commercial vehicles, agricultural equipment, construction machinery, intelligent logistics, and marine transportation equipment. It has well-known brands at home and abroad such as Weichai Power, Weichai Lovol Smart Agriculture, Fast Gearbox, and German Linde Hydraulics. The group has 100,000 global employees, an annual operating income of more than 300 billion yuan, ranking 86th among the top 500 Chinese enterprises, 31st among the top 500 Chinese manufacturing enterprises, 18th among the top 100 Chinese multinationals, and a multinational index of 39.06%.
Weichai adheres to the international development strategy and has created a coordinated industrial layout globally. In 2004, Weichai Power was listed in Hong Kong, becoming the first internal combustion engine company listed in Hong Kong in the domestic industry, opening up the path of internationalization of capital in one step. In 2005, Weichai Power merged the Xiangtan Torch Automobile Group, creating a heavy truck golden industrial chain (Weichai engine + Fast gearbox + Hande axle + Shaanxi Heavy Duty Truck), and then through a share swap absorption merger of Xiangtan Torch, it returned from H shares to A shares, creating the "Weichai Model" in the capital market. Since 2009, Weichai has successively merged the century-old French Baudouin Engine Company, strategically reorganized the luxury yacht manufacturing enterprise Italian Ferretti, carried out strategic cooperation with the industrial forklift and service provider German KION Group, merged and acquired the German Linde Hydraulics and realized its localization, supported the KION Group to acquire the automated logistics provider American Dematic, strategically invested in the alternative fuel power system provider American PSI Company, the solid oxide fuel cell provider British Ceres Company and the hydrogen fuel cell provider Canadian Ballard Company, and strategically reorganized the German EODS Company and the Austrian VDS Company, realizing the strategic business covering the world and balanced development. At the same time, through technology output, capacity cooperation and other means, Weichai has established production bases in places such as India to realize the landing of local manufacturing.
Weichai attaches great importance to technological innovation and has national-level R&D platforms such as the National Key Laboratory of Internal Combustion Engines and Power Systems, the National Engineering Technology Research Center for Commercial Vehicle Power System Assembly, the National Industrial Innovation Strategy Alliance for New Energy Power Systems of Commercial Vehicles and Construction Machinery, and the National Specialized Mass Innovation Space. It also has research bases such as "Academician Workstation" and "Postdoctoral Workstation", and has built a national intelligent manufacturing demonstration base. R&D centers have been established in Weifang, Shanghai, Xi'an, Chongqing, Yangzhou and other places in China, and cutting-edge technology innovation centers have been set up in many places around the world to build a global collaborative R&D platform to ensure that the enterprise's technical level always follows the world's cutting-edge.
With the mission of "Green Power, International Weichai" and the purpose of customer satisfaction, Weichai has formed a unique corporate culture. Weichai's strategic goals are: by 2025, the traditional business should firmly remain at the world-class level, and by 2030, the new energy business should lead the global industry development; before 2025, it will achieve an income of 100 billion US dollars, and before 2030, it will achieve an income of 1 trillion RMB; the core businesses of each main industry will enter the top three in the world and firmly remain in the top 150 of the Fortune 500, and build a respected intelligent industrial equipment multinational group.
