Since its establishment in 1946, Weichai has grown from small to large and from large to strong; from the development of a single engine business to the formation of the only heavy-duty gold industry chain in the country with “engine + transmission + axle + vehicleâ€; from single product to full Series, full-range engines; From being subject to foreign technology to the successful research and development of Lanqing engines with independent intellectual property rights; From sales volume to sales of high-speed and high-power engines, the world's largest, sales revenue jumped from 580 million yuan in 1998 to 2010. In the year of 91.1 billion yuan, Weichai took a leaping development path and scored a grand chapter in the “sound of powerâ€.
In the face of fierce market competition, Weichai combined the traditional advantages of state-owned enterprises with market-oriented mechanisms, carried out a series of reforms and innovations in institutional mechanisms, and improved Weichai's execution, innovation, and sustainable development capabilities. The results. In the field of production, Weichai vigorously promoted the reform of the production system, steadily improved product quality, relied on the reputation of Weichai products, did a good job in the effective operation of the ISO9000 quality management system, accelerated the research and development of new products that meet market needs, and promoted high-configuration strategies. High power machine is stronger. In the management system, financial management was strengthened, efforts were made to reduce costs, shareholding system reform was implemented, a modern enterprise system was established, the organization was streamlined, redundancy was eliminated, the labor personnel system was reformed, and the salary system was implemented, and a unique WOS management was implemented. In terms of the talent mechanism, Weichai has implemented a strategy to strengthen talents in enterprises, with particular emphasis on the cultivation and introduction of college students, scientific and technological talents, financial talents, and overseas talents. Since 2008, Weichai has introduced 47 talents from overseas.
Technological transformation, R&D and innovation are another important aspect of Weichai’s reform. Weichai has started to accelerate technological transformation since the second half of 1998. Weichai people know that technology research and development capabilities, especially the strength of independent innovation, are directly related to the survival and development of enterprises. They set aside 1 million yuan and set up a technology innovation incentive fund. In 2005, China’s first self-owned intellectual property high-power diesel engine, “Lan Qing,†was launched in Weichai, ending the history of “Foreign Hearts†driving Chinese cars, allowing China’s internal-combustion engine manufacturing to gradually gain control of the world stage. .
Wei Chai took the lead in the industry to put forward the model of "mainly based on me and linked innovation." On the basis of integrated knowledge, this unites the value chain links of industrial supply, business management, and brand operation to form a deep-linked and interlocking of superior resources, so as to achieve a strategy model of extending and innovating the industrial chain and forming a win-win cooperation. The proposal received high attention and recognition from the industry. At the end of 2007, the world's first "powertrain" product that matched the engine, gearbox and axles was developed in Weichai, and it was one of the important results of the strategy of "mainly based on me and linked innovation".
In all reforms, the most outstanding thing for Weichai to do is capital operation. Since 1998, Weichai has successively carried out capital operations such as the reform of the three-three system with the theme of extricating state-owned enterprises, joint-stock reform, listing of Weichai Power's H-shares, mergers and acquisitions of the Hunan Torch, Weichai Power's return to A-shares, and restructuring of Shandong Juli. project. Leveraging on the capital operation, Weichai has grown from a partial diesel engine plant to the most powerful equipment manufacturing group in China.
More than ten years of continuous reform and innovation, with great concentration on building core competitiveness, enabled Weichai to achieve leapfrog development, established a leading position in China's automobile and equipment manufacturing industry, and gradually took a certain amount of power in the global market. At the business conference held in December 2010, Weichai proposed a strategic vision of "challenging the global first goal." Under the guidance of this vision, Weichai will strive to realize the goal of “breaking sales revenue exceeding 200 billion yuan and advancing into the world’s top 500†within the next five years. It will become an international vehicle with the core technology of the powertrain as a whole vehicle and complete machine. Enterprises, and strive to create a unique, global leading equipment manufacturing group.
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