From January to October 2010, Yuchai Group achieved a sales income of RMB 30.498 billion, a year-on-year increase of 37.79%. It completed its annual business target of RMB 30 billion in two months ahead of schedule, including 630,000 units of engine sales, a year-on-year increase of 10.21%, and sales of construction machinery. 5882 units, an increase of 43.53%. What is even more gratifying is that in the Group's six major industrial sectors, sales revenues for engines, construction machinery, lubricants and chemicals, and logistics, automobile and electronics sales have all increased by more than 30% year-on-year. Yuchai's core business, Yuchai Machinery Co., Ltd., has created a good sales record of over 470,000 engines and an 18% year-on-year increase in sales. It is rushing to reach 500,000 sales targets.
Yuchai Group's "Eleventh Five-Year Plan" is the perfect ending. It surpassed the previous year's sales revenue one quarter ahead of schedule, completed a full-year operating target of 30 billion yuan in two months ahead of schedule, entered the ranks of 30 billion yuan, and created a history. new highs.
From 2005 sales of 12.1 billion yuan to the current operating profit of 30 billion yuan, in just five years, Yuchai Group, a company that focuses on machinery manufacturing, has experienced ice storms in the south, global financial crisis, etc. After the impact, the adjustment of the corporate structure has improved and the operating efficiency has steadily improved. From the 231st place in 2005 to the 227th place in 2010, the ranking of the top 500 Chinese companies has been ranked.
In order to clarify the direction of future development, Yuchai Group has proposed the strategic goals for the next ten years of development. It is clear that it is necessary to expand the industrial chain around the main business and focus on the development of engines, construction machinery, special vehicles, auto parts, automotive chemicals, and modern logistics. Industrial products have built an operating platform with annual sales of 100 billion yuan, and established the vision of “building a world-renowned brand and accomplishing a large multinational enterprise group†and using international standards to regulate the development of the company.
In order to achieve its goals, Yuchai improved the company’s corporate governance structure, rationalized property rights relations, parent company management systems, established the group’s parent company status, and adopted a combination of “strategic control + financial management and control†as a hybrid management model for each subsidiary company. Management, focusing on strengthening and expanding the main industry cluster, and gradually withdrawing from subsidiaries with weak core business association and small scale, while implementing control over large enterprises with high correlation and core parts and components. The company's full-time chairman and financial appointment system, and give technical, financial, management, market support, and strive to make the subsidiary stronger and bigger.
Five years later, Yuchai's six industrial sectors go hand in hand, with the exception of the special automobile segment, the remaining sectors exceeded the scale of 2 billion yuan from January to October this year. Among them, the engine industry segment still maintains its advantages and core position in the group. The year has maintained a high growth rate of more than 30%. Yuchai Group's Other main plate engineering machinery plate has increased fourfold in five years, and the product brand has achieved diversification. There are more than 40 series and more than 150 varieties of products, and they are developing in the direction of Zhongda digging and rotary drilling. The construction machinery market has occupied a place in the professional market. The Lubricant Chemicals segment has risen to become one of Yuchai’s most promising growth sectors, with a year-on-year increase of over 114%. The number of subsidiaries with excellent assets of the Group has continued to increase. In 2005, Yuchai owned 27 wholly-owned, controlled, and equity-shared subsidiaries, and only 1 billion yuan of subsidiaries were Yuchai Machinery and Lubricant Company. Of the 30 subsidiaries of the Group in 2010, eight had sales of more than one billion yuan. With overseas operations in more than 80 countries including Southeast Asia, the Americas, and Africa, Yuchai Group not only takes root in Guangxi, but also moves toward the country and goes to the international stage.
From the outshining development of the engine plate to the development of the six industrial plates, the company has achieved a good result in the structural adjustments implemented by the Yuchai Group in the “Eleventh Five-Year Plan†from the increase in sales revenue to the improvement in the operating efficiency of the company. “Two product chains, many The industry clusters began to take shape.
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