Weichai Power (Shenzhen Stock Exchange stock code: 000338) released its 2009 performance report and its 2010 first quarter financial report on April 27. The report shows that in 2009 operating income reached 35.525 billion yuan, an increase of 7.2%, a net profit of 3.407 billion yuan, an increase of 76.4%, in 2009 earnings per share of 4.09 yuan, an increase of 76.3%.

The first quarter of 2010 report showed that operating income was 15.173 billion yuan, an increase of 146.1% year-on-year; earnings per share was 1.94 yuan, an increase of 351.2% over the same period last year.

In 2009, the company rose in contradiction under severe conditions, and a number of indicators ranked first in the industry

Affected by the global financial crisis, the heavy-duty truck market in China showed a tendency to decline afterwards in 2009. In the face of a complex economic environment, Weichai Power has led the industry development trend with a complete product structure, a complete industrial chain, a diversified market layout, leading products and technologies, and has strong anti-risk capabilities, enabling Weichai Power. The market advantage has been further improved, and various operating indicators continue to rank first in the industry. In 2009, a total of 226,170 heavy-duty truck engines were sold, an increase of 14.6% year-on-year; the market share of the 5-ton (or more) loader market reached 80.0%; and the market share of large passenger vehicles reached 20.0%, setting a record high.

The entire vehicle market is developing rapidly and the auto parts market continues to lead. In 2009, Shaanxi Heavy Duty Truck sold 58,498 heavy-duty trucks. Although it decreased by 8.8% year-on-year, its market share increased rapidly. It increased from the highest of 6.8% in 2005 to over 12.0%, making it one of the fastest growing companies in the industry. Fast sold 532,049 transmissions, a year-on-year increase of 14.5%, and the heavy truck market share reached 80.0%, maintaining its leading position in the industry. In the auto parts business, spark plugs have exceeded 100 million in sales, occupying more than 60.0% of the total in the mainframe market, and are in an absolute monopoly position. The total scale ranks first in the country and the top six in the world. The production and sales of automotive air-conditioning compressors exceeded 600,000 units, ranking the forefront of the industry.

In 2009, due to the decrease in demand for coal and iron ore and the shrinking area of ​​new real estate, the overall construction machinery industry experienced a significant decline. Weichai sold 82,125 construction engine engines and continued to outperform the industry.

Efficiently Integrate Advantageous Resources at Home and Abroad, Perfecting to Enter the International Market Service Network

In January 2009, in the context of the economic crisis, Weichai Power seized the opportunity to successfully acquire the French Boduuan Engine Company with 2.99 million Euros. Its leading product, the M26 engine, is an ideal power for luxury yachts, ships and power generation equipment. It is highly complementary to Weichai's existing product portfolio. At the end of 2009, the reorganization of Weichai Power's Yangzhou Diesel Engine Co., Ltd. was completed, which created the conditions for the construction of a million small-diameter power manufacturing base, marking the company's full implementation of the Yangtze River Delta business strategy.

While actively integrating high-quality resources at home and abroad, Weichai Power gradually improved its international network construction and enhanced its export advantages. In 2009, the construction of Weichai Power International Service Station was fully rolled out, and the number rapidly expanded from 25 to 70. It was distributed in 17 major markets, more than 60 countries and regions, and offices and branches were established in 25 countries. It has laid a solid foundation for the products to enter overseas markets. With the acquisition of Baudouin in France, it has expanded the market for high-end ships and power generation equipment in Europe and South Africa. With the establishment of the Weichai Singapore Baudouin branch, the company has established its sales service support center and logistics distribution warehouse in Southeast Asia. Training and remanufacturing center.

With the support of a powerful service network system, the company’s product exports have gradually increased, and the future has great potential. Engine exports have maintained a doubling growth and have become a stable contribution to the growth of the company's performance. Heavy truck sales of Shaanxi Heavy Duty Truck continued to rise sharply. The export volume accounted for more than 20.0% of the company's total sales of heavy trucks. It far outperformed the industry's 7.0% export share and remained the largest heavy truck export company in China.

Strong technical R&D strength and level of technological innovation to ensure products lead the market

Relying on strong technical R&D strength and technological innovation level, Weichai Power continues to lead the direction of China's power market in terms of new product launches, technology route selection, and technology promotion and application. In October 2009, Weichai Power obtained the approval of the Ministry of Science and Technology, and established the nation's only national commercial vehicle powertrain engineering technology research center, marking that Weichai Power has become China's commercial vehicle power system standards maker, further consolidating the company’s momentum. The leading position of the assembly product market.

2009 is the key year for the implementation of the National III standard. The high-powered high-speed “blue engine” engine with independent intellectual property rights, which Weichai Power has promoted, has won wide recognition in the market for its advantages of energy saving, environmental protection, and reliability. The high pressure common rail engine market dominates. The "Lan Qing" IV engine has entered the verification stage of the small-batch market and has successfully matched Shaw Zhongqi and Foton Motor. In China IV and China V products, Weichai and Bosch and other internationally renowned companies have deepened their cooperation to ensure that key parts are always in a technologically advanced position. Through the acquisition of the French Baudouin company, the reorganization of Weichai Power's Yangzhou Diesel Engine Company and the signing of a small-bore engine technology introduction agreement with VM, the company further has more than 16-liter and 2-3 liter high-speed machine products, and the engine plate has initially formed a full range of Product layout.

As an important business segment of Weichai, Shaanxi Heavy Duty Truck Co., Ltd. has broken the market sales record once the new MANF3000 model is launched, becoming the leading product of Shaanxi Heavy Duty Truck in the future.

Fast Transmission continues to shift from 9th to 12th-16th gears. In 2009, the sales volume of 12-16 gearboxes approached 100,000 units, becoming a hot spot for market demand, and vigorously advancing product structure adjustments. The newly launched 7 gears and small The 8-speed, small-eighth-speed medium-speed light trucks, agricultural vehicles and passenger car gearboxes, with updated configurations and higher cost-effectiveness, have become new economic growth points and market highlights.

Relying on the strategic alliance of industrial technology innovation, entering the new energy field

In recent years, Weichai Power introduced CNG, LNG and other gas-fired power series products for large passenger cars and heavy trucks, and achieved good market results.

In January 2010, the Ministry of Science and Technology approved the strategic alliance for industrial and technological innovation of new energy and power systems for commercial vehicles and construction machinery with Weichai Power as the chairman unit, which will help the company to integrate domestic high-quality resources and build a common technology platform. Collaborative development of new technologies for energy saving and emission reduction and industrialization. In the next few years, the company will rely on industry alliances to fully enter the field of new energy and build a new energy industry cluster by leveraging its own R&D and innovation capabilities.

Adhere to connotative development and promote four management innovation projects

In recent years, Weichai Power has relied on the management model of information and modernization, and vigorously promoted management tools such as comprehensive budget management, Six Sigma management, and lean management within the Group, further improving the company's management level and operating efficiency, and making the company account for three expenses. The proportion of sales revenue has gradually decreased, and the average decline in the past five years has reached about 8.5%.

In the context of the economic crisis, the company focused on the overall situation, persisted in the connotative development, and realized the transformation in the crisis and the development in the transformation. Based on the continuous improvement of lean management tools and management and control models, the company focused on introducing the WOS management model, launching an innovative performance management system, launching a centralized training program for leading cadres, and reorganizing the four management innovation projects of the marketing system organization and process. For the company's long-term development to provide support.

In the future, we will continue to integrate superior resources and move forward to the world-class equipment manufacturing group.

Looking ahead to 2010, the heavy-duty truck industry is expected to maintain rapid growth in the first half of the year, driven by continued improvement in the economy, high investment in fixed assets, and improved environment for the development of automobiles and equipment manufacturing. With the imminent implementation of China National IV emission standards for transport vehicles, the Chinese engine market will become more competitive in the next few years. Weichai Power, with its leading technical strength, high-quality product manufacturing, and a solid and loyal customer base, is at a high level of power. The engine market will continue to lead.

Therefore, in the next stage, Weichai Power will further increase its R&D efforts, implement the first strategy for talented people, core technology transformation strategy, advance the promotion of small-batch marketing of China IV products, and do a good job for the upcoming implementation of the National IV regulations. reserve. At the same time, the company will further advance the product and market structure adjustment work, and in the high-power segment, accelerate the optimization and localization of more than 16 liters of engines of the French Baudouin company, and build a complete Weichai industrial power product line; in the small and medium power In the segment, relying on the newly developed 5-7 litre engine, the company continued to explore emerging markets such as passenger cars, non-loader construction machinery and medium- and heavy-duty trucks; in the low-power segment, it relied on the platform of Yangzhou diesel engine to accelerate the digestion, absorption and upgrading of small-bore engine technology. Undoubtedly create market diversification advantages, form a vertical and horizontal coordinated market layout.

At the same time, Weichai Power will accelerate the development of the commercial vehicle segment, powertrain segment, and auto parts segment in accordance with the principles of “strategic unification, independent operation, and resource sharing”, further consolidate its advantageous resources, and maximize the company’s resource synergies. The effect enhances the company's resistance to wind and waves. Determined to build the engine segment into a global leading, full-range, and full-range power provider in the next five years, and ultimately to turn Weichai into a global-oriented enterprise group oriented to the core technology of the powertrain and develop it into a single company. An important global equipment manufacturing industry has a very important pole.

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