Chai develops new target: 80 billion yuan

The fourth party congress held by Yuchai Group recently proposed the global goal of Yuchai’s internationalization: 100,000 engines will be exported annually before 2010, focusing on the Asian, African, Latin American and Eastern European markets; North America will be attacked after 2010. In the Western European market, 300,000 engines are exported each year, accounting for 30% of the group's total annual sales. In the next 3 to 5 years, sales revenue will reach 350 to 55 billion yuan, and in 2015 it will reach 80 billion yuan.

After Yuchai’s annual sales exceeded 10 billion yuan, in 2006 it proposed the goal of “rebuilding a Yuchai in three years”. From January to September this year, Yuchai sold 460,600 sets of engines, which grew rapidly at a sales rate of 30% year-on-year, completed sales of 16.89 billion yuan, and realized profits and taxes of 1.5 billion yuan. It is estimated that by the end of the year, Yuchai’s sales revenue will exceed 20 billion yuan, completing the goal of “creating a Yuchai”.

Therefore, Yuchai put forward the business philosophy of “Excellent Quality, International Yuchai”, determined to implement an internationalization strategy, build a world-renowned brand, achieve a large multinational corporation group, implement the group's internationalization strategy, and achieve Yuchai products. "Made in China" has been transformed into "Created in China".

To meet the needs of economic globalization, on September 22, Yuchai had withdrawn the board of directors of Guangxi Yuchai Machinery Group Co., Ltd. and established the board of directors of Guangxi Yuchai Machinery Group Co., Ltd., and Yu Ping served as Guangxi Yuchai Machinery Group Co., Ltd. The first chairman of the board of directors, the six members of the president's team members had an average age of 36, including 1 doctor and 3 masters. The young and knowledgeable team laid the foundation for Yuchai’s internationalization of brands, internationalization of industrial layout, internationalization of capital operations, internationalization of product markets, internationalization of operations management, and internationalization of talents.

Upon request, the Yulin Municipal Committee agreed that on October 16, the Yuchai Group held the fourth Party Congress and decided to bring the Yuchai Co., Ltd. Party Committee, which originally had a parallel relationship with Yuchai Group, to the leadership of the Group Party Committee in order to better play the corporate party committee. The core role of the government is to guarantee the implementation of all policies and policies of the party and the state and the full implementation of the scientific concept of development. Chairman Mao Ping passed the election at the Party Congress and was elected as the party secretary of the new Yuchai Group Company.