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In response to the more challenging environment this year, Yuchai remains determined to push forward and aim for new heights, with a target of achieving an operating income of 13.8 billion yuan. This information was shared during the first meeting of the 15th Staff Representative Conference held on February 10th.
Last year, Yuchai achieved a sales revenue of 12.1 billion yuan, while producing and selling 267,500 diesel engines across various models, marking a 22.73% increase compared to the previous year. Industry analysts predict that the domestic diesel engine market will transition from rapid growth to a phase of comprehensive adjustment this year. As competition intensifies, Yuchai is expected to face significant challenges. In preparation, the company plans to focus on industrial restructuring this year.
By leveraging its existing parts and component companies, Yuchai aims to introduce industrial or financial capital through equity participation, as well as bring in strategic partners with strong technological capabilities. The goal is to establish a robust spare parts industry group under Yuchai Group and create an auto parts division. Additionally, the company will expand beyond traditional diesel engine components, entering the development and production of automotive parts, thus broadening its presence in the automobile and internal combustion engine sectors.
Yuchai will also work on integrating group resources, strengthening management foundations, and reforming its property rights system. It will enhance the parent-subsidiary management structure and build a modern enterprise system. On the product development front, the company will ensure the stable mass-market launch of national II-series engines like YC6M and YC4F, while advancing the development of nine series of electronically controlled III diesel engines for batch market entry. It will also follow schedule to develop six new models—3W, 4Y, 4H, 6H, 6K, and 6T.
In terms of market expansion, Yuchai will prioritize the heavy truck and light truck markets, while also focusing on rural and overseas markets. Cost management will be re-focused, with an emphasis on total cost awareness, improved systems, processes, and evaluation criteria. Responsibilities and performance metrics for management at all levels, especially middle and senior executives, will be clearly defined.
To support growth, the company will explore new financing channels, establish an investment company under Yuchai Group, and plan to list some subsidiaries to attract both industrial and financial capital.
(Yuchai's achievements include winning the "China Brand Annual Award NO.1" in the internal combustion engine category in 2007.)