Weichai Power: The future will increase overseas market development efforts
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Weichai Power recently disclosed the "Investor Relations Record Form" in which it stated that overseas markets are an important part of the company's "three-thirds" strategy. In the future, the international market strategy will focus on the deployment of markets in developing countries, and increase the overseas market layout of the vehicle and engine businesses. Market demand in developed countries will strive to grasp.
It is understood that Weichai Power's international market strategy will account for 1/3 of total revenue. This plan will be realized within 5 to 10 years; in addition, the domestic main business and service-oriented manufacturing post-market will also share 1/3 of the total revenue. The source also revealed that Weichai Power intends to deepen its development in the areas of existing engines, powertrains, construction machinery, hydraulics, and newly added yachts.
On October 10th, the company held a conference with the theme of "strategic leading the dream to set sail" in Yaxing Automobile Industrial Park, newly completed in Beishan, Yangzhou. The company announced that by the end of the twelfth five-year period, Weichai's business income reached 1800. From the hundred million yuan to the thirteenth five-year plan, the business income reached 300 billion yuan and entered the top 500 in the world.
Under this strategic framework, through the adjustment of the business structure, the leading role of the whole vehicle will be further enhanced, the contribution will exceed 60%, and the international market revenue contribution will exceed 1/3, initially establishing a favorable global market balance; the latter market will exceed 10%, initially forming a stable structure across the economic cycle.