Yuchai Group's “Twelfth Five-Year Plan†has entered its fourth year this year. However, due to the constraints of international and domestic economic environment and various factors within the company, the Group’s development situation and expectations have a large gap. Since 2011, The scale of the Group’s marketing has been hovering at 43 billion yuan for three consecutive years, highlighting the bottleneck of development. Under the background of changes in the internal and external environment, the Group responded to the situation and proposed the concept of “second pioneeringâ€. In conjunction with its own development, the Group made adjustments to the development strategy. At the end of April 2014, the Group officially released “The Second Venture of Yuchai Groupâ€. And the Outline of the Strategic Plan for 2014-2018.
This plan outline redefined the strategic positioning, direction of development, business focus, and major initiatives of Yuchai over the next 3-5 years, and will play an important role in the development of Yuchai in the next 3-5 years and the “second ventureâ€. effect.
Build "Two Industrial Chains, Two Service Platforms"
The Outline defines the development strategy for 2014-2018: “Accelerate the construction of Yuchai Industrial New City, expand the domestic and international joint ventures and the introduction and application of high and new technologies, and focus on expanding the two industrial chains of 'engine' and 'petrochemical' and build 'Finance' and 'Logistics' are two major service platforms that integrate resources, optimize structure, promote transformation and upgrading, enhance core competitiveness, and realize sustainable and healthy development of the company."
The Outline clearly targets the 100 billion yuan sales scale and establishes the strategic positioning of the group as “two industrial chains, two service platformsâ€, namely “engine†and “petrochemicalâ€, and “finance†and “logisticsâ€. Two service platforms. This has made significant adjustments to the strategic positioning of the “two product chains and multiple industry groups†proposed by the Group in the “Twelfth Five-Year Planâ€.
Zhou Sunhai, vice president of the group, stated that after two years of development in the “two product chains†of the “Twelfth Five-Year Planâ€, the development of the engine's product chain was relatively healthy. Last year it achieved double-digit growth, but the construction machinery product chain, Volume, market share, and overall industry development trends are far from the expected goals. At the same time, the rapid rise of the energy and chemicals sector has formed the second largest business segment and profit growth point in the Yuchai system. Under this circumstance, the original strategic positioning must be adjusted in a timely manner so as to concentrate resources advantages, develop advantageous industries, and form new industrial structures and product structures. The Group established a new strategic position based on a thorough investigation and analysis of the macroeconomic environment, industrial environment and Yuchai's internal environment.
Cut into the terminal market and create a full value industrial chain
In the new strategic plan, the original “six business segments†concept has faded out of the stage of history, replaced by “two industrial chains†and “logistics service platformsâ€, the original parts and components, engine blocks, and engineering machinery plates. The special-purpose automobile plate is categorized into the engine industry chain, while the original petrochemicals plate is upgraded to the petrochemical industry chain, and the logistics and auto-gasonomy plate is transformed into the logistics service platform. The "two industry chains" will be based on the original industry, extending to the upper and lower reaches, going up to the source of the industry chain, down into the terminal market, the formation of a full-value industrial chain.
Among them, the engine industry chain will use Yuchai headquarters as the engine production base, Yuchai Industry New City as the main platform, and focus on the development of the engine. It will actively extend it to the upstream and downstream, and eventually form the "parts - the whole - Terminal "integrated equipment manufacturing system to create a gold industry chain. The petrochemical industry chain will use high-efficiency industrial clusters with existing lubricants and petrochemical products as the core, and Qinzhou Petrochemical and Petrochemical Phase II projects as the main carriers to implement the strategy of integrated upstream and downstream development, focusing on the development of “heavy oils— C4 - Aromatic / MTBE - Fine Chemicals / Automotive Chemicals Industry Chain.
Zhou Sunhai said Yuchai’s efforts to achieve an intermediate product scale of 100 billion yuan is very difficult. It is necessary to introduce terminals, we must have our own complete vehicle, we must have our terminal products, and we must have our own Right to speak, have their own end customers, in order to expand profitability and profitability.
Industrial chain and service platform interact in an orderly manner to form a three-dimensional development pattern
Zhou Sunhai introduced that “two industrial chains and two service platforms are mutually reinforcing and support each other and constitute a three-dimensional development pattern.†While the Group is optimizing and enhancing the industrial chain of the engine, it is also building a petrochemical industrial chain. Improve and integrate resources to build a logistics service platform and financial service platform.
The existing logistics system of Yuchai, based on the existing business, is based on the transportation business and warehousing and distribution business that serves the engine industry chain, and extends upstream and downstream, implementing integrated management of industrial supply logistics, production logistics, and sales logistics. Build a professional, standardized and comprehensive national logistics service platform.
The financial service platform, through deepening the integration of industry and finance, establishes the interactive relationship between industry and finance, value-creating relationship, and service relationship, and improves the investment and financing platform of the Group through listed companies and financial companies, and penetrates into the financial fields such as fund trust and security, and taps. New investment models, broadening financing channels, and innovating business models to enhance profitability will continue to promote the adjustment and optimization of Yuchai's industrial structure. Through participating in the operation of financial projects to create revenue, it has become a new economic growth point, at the same time providing cash flow for the development of the Group's industries, realizing Yuchai's industrial restructuring, and serving Yuchai Group's two major industrial chains.
Emphasis on the realization of the goal of ensuring planning through "internal training"
“This plan is more focused on ensuring the achievement of goals through 'internal training', which is to focus more on the reform and innovation of the original institutional mechanisms to gain momentum for development. This is an important difference from the 'Twelfth Five-Year Plan'. One of them, said Zhou Sunhai.
The plan points out that through the establishment and implementation of the "one core, two reforms, three innovations, and five upgrades" strategic assurance system, relying on a number of key projects to ensure that the Group's second venture, transformation and upgrading and the realization of strategic objectives. Among them, one core, that is, the core competitiveness of enterprises, must focus on six elements such as “development, teamwork, innovation, product, market, financing, and managementâ€, that is, through this series of measures, nurture strong product and market forces. , innovation, management, financing, and teamwork to consolidate and enhance the core competitiveness of Yuchai Group. Two reforms, namely, institutional reforms and institutional reforms; three innovations, namely business model innovation, management system innovation, and cultural system innovation; five upgrades: product structure upgrades, technology research and development upgrades, quality control capability upgrades, and marketing capability upgrades. Investment and financing capacity upgrade. From this we can see that the "one core, two reforms, three innovations, and five upgrades" strategic assurance system is within the scope of internal training. For project construction support, it is mainly Yuchai Industry New City and Petrochemical Phase II and more than a dozen key construction projects.
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