On August 28th, 2009, Weichai Power released the 2009 interim report. The report shows that although WeiChai Power's operating income has declined due to the financial crisis, Weichai's earnings chain has come out of a reversal trend. The quarterly net profit increased by 138.5% from the previous quarter, and the profit level has returned to the high level of the same period of last year.

As one of the major manufacturers of high-speed high-speed diesel engines in China, Weichai was also deeply affected by the financial crisis. However, when other companies are still struggling in winter, Weichai has ushered in early in the spring. It is reported that from January to June 2009, Weichai’s engine production per month was 14,000 units, 21,000 units, 35,000 units, 26,000 units, 24,000 units, and 25,000 units. After March, the production of Weichai has been restored to normal levels. From June onwards, Weichai’s monthly sales exceeded 30,000 units, while in August, the orders reached 35,000 units, refreshing Weichai Group’s single-month production record.

Why did Weichai achieve a converse trend? There are many reasons for this, but one of them must be mentioned is the product diversification strategy it advocated in recent years. As we all know, as the vanguard of China’s engine industry, Weichai Power Group has a market share of 32% in heavy-duty truck engines and 80% in high-power loader engines. Weichai has an absolute leading market position in these two product areas. . However, Weichai has not met, on the one hand, it has used its advantages in the industry to consolidate its leading position in the heavy truck field. On the other hand, it has actively enriched its product range and expanded its industrial chain. It has expanded the supporting market from a single heavy-duty vehicle to construction machinery, large passenger cars and ships. , generators and other fields.

Heavy truck wins with high pressure common rail

Since July 1, 2008 when the National III standard was implemented in China, what kind of fuel injection system has been used has been controversial. However, Weichai Power always believes that high pressure common rail technology is the development direction of advanced emission technologies. Because energy conservation and emission reduction have become a basic national policy, China's internal combustion engine market needs a new driving force for energy conservation and environmental protection. It is understood that the application of high-pressure common rail technology, Weichai Lan engine, emission indicators than similar products by 20%, fuel consumption rate decreased by 10% -15%. The engine's high temperature resistance, cold resistance, exhaust brake technology, noise reduction technology, etc. have significantly improved compared with similar products.

Practice has proved that Weichai's sticky high-pressure common-rail line has been successful, and Weichai's high-pressure common-rail engine is being recognized by more and more users. It is with this recognition that even the Weichai Power Blue Engine III engine has achieved a good sales performance even under the backdrop of the international financial crisis. It is reported that by May 2009, the cumulative sales volume of the Weichai Power Blue Engine III engine has exceeded 120,000 units. More important than sales, the share of Weichai Power's blue engine in the heavy-duty truck market has increased from 36% last year to the current 39%.

The construction machinery policy has boosted sales

Affected by the financial crisis, the market demand for construction machinery has shrunk dramatically, but with the gradual implementation of the national 4 trillion investment plan, the expansion of domestic demand and the growth of fixed asset investment, the construction machinery market has begun to recover, and Weichai has also adopted policies. The spring breeze achieved a contrarian increase. The person in charge of Weichai's marketing department told reporters that orders from construction machinery, dump trucks and other manufacturers have continued to increase, and the overall market has recovered faster than originally expected. Tan Xuguang, chairman of Weichai, also stated that Weichai’s contrarian growth was primarily due to a series of favorable policies and measures for national growth and expansion of domestic demand, especially the introduction of key industrial restructuring and rejuvenation plans, creating a new market for enterprises. demand.

In addition, on June 18, Weichai reorganized Shandong Heavy Industry to realize the unification of Shandong auto parts, and also gave Weichai an opportunity to further expand and stabilize the downstream engine market. The share of ShanGong Group in the machinery market and the capacity of the SAIC Group's light trucks will both provide a stable demand for the enrichment of Weichai Power's engine assembly series. In fact, the Shangong Group, which has occupied the loader market share, was also Weichai Engine's major engineering machinery customers, and the establishment of Shandong Heavy Industry, Weichai Power can take this to expand the business scope of the upstream machinery industry.

Bus optimization product structure expands new markets

As a rookie in the passenger car market, since entering the passenger car market in 2001, Weichai has been working hard to develop a passenger car engine with domestically-owned independent intellectual property rights, and through continuous adjustment and optimization of product structure, it has expanded into emerging markets.

At the 2009 annual business meeting, Weichai launched a three-year development of the WP5 and WP7 small and medium-power engines. The introduction of this product changed the pattern of only heavy-duty engine products in Weichai, making Weichai begin to expand into the field of light engines, and solved the problem of the incompleteness of the product line of passenger car engines in the length of 8 to 11 meters.

It is understood that in 2008, Weichai's large-displacement passenger car engine achieved sales of more than 8,000 units, and currently accounts for nearly 50% of the 12-meter passenger and tourist bus market. In 2009, Weichai launched the WP5 and WP7 series diesel engines while further expanding the supporting market for large passenger cars, sounding a clarion call for Weichai to accelerate its entry into the 8- to 11-meter passenger car market.

In addition, in 2009, Weichai also gained a lot in industries such as ships and large generator sets. In particular, the sales of marine medium-speed engines increased by more than 60% year-on-year. Through the acquisition of the French Boduuan Engine Company, Weichai also obtained the research and development technology and production capacity of the 16L-33L engine, laying the foundation for further improvement of the company's product line.

The diversified market strategy laid a good foundation for Wei Chai’s contrarian growth. Therefore, despite the decline in revenue caused by the impact of the external environment in the first half of 2009, Weichai has continued to maintain its leading position in the industry. According to statistics, the heavy truck market with a capacity of over 14 tons in Weichai accounted for 37.1%, up 0.6% from the same period of last year; the market share of loaders with 5 tons (and above) was 80.9%, and the leading position in the industry was maintained; passenger and ship engine sales The increase has reached about 40%.

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