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Yuchai generally released the first prototype three to five years before the implementation of national engine emission regulations at different stages. Collapse of extensive enterprises has just made greater room for fine enterprises' development.
China's economic growth slowdown since the beginning of this year has had some impact on Yuchai's development indeed, but Yuchai has maintained healthy development.
In terms of sales, in the first nine months of 2014, Yuchai Machinery Co., Ltd. registered total sales of nearly 30 billion yuan and achieved positive growth of engine sales, remaining ahead of other domestic multi-cylinder diesel engine manufacturers.
In terms of overseas market development, Yuchai sold 461 engines in the ASEAN market in 2004; achieved overseas sales of 33,000 units in 2013, up 20 percent year on year; and is expected to maintain good momentum in 2014.
China is accelerating the domestic structural reform to boost market confidence. My most intuitive feel is that the country has no longer placed exclusive emphasis on GDP growth, but has paid attention to economic growth quality and residents' benefits from economic growth amid economic growth slowdown.
As far as the engine industry is concerned, the country's executive standards for motor vehicle pollutant emission have become more rigid, which is a major move of the country to advance restructuring. This can not only reduce air pollution, but also promote industrial upgrading. Capable enterprises never fear declines. From the national I emission standard to the national VI emission standard, as a promoter of national emission standards, Yuchai generally released the first prototype three to five years before the implementation of national engine emission regulations at different stages; collapse of extensive enterprises which could not cope with market environment and policy changes has just made greater room for fine enterprises' development.
To expand its market share, an enterprise needs to conduct continuous innovation and reform. Mode transformation and structural adjustment is the general trend of economic development and Yuchai is following the trend. Yuchai proposed the "second startup" focusing on transformation and upgrading this year, covering a wide range of fields such as product innovation, technology innovation and management innovation. Yuchai will speed up the construction of a new industrial city covering an area of 10,000 mu, expand domestic and international cooperation, introduce and apply high and new technologies, restructure its R & D system and manufacturing system, comprehensively update its existing product spectrum, develop and manufacture more competitive products in the European and American markets, focus on extending two industrial chains--"engine" and "petrochemical", and create two service platforms--"finance" and "logistics".
Talents are vital to the success of the "second startup" and survival of a manufacturer with poor location. In introduction of research talents, Yuchai has invested 500 million yuan in building a general R & D center in Nanning to dispel high-tech talents' worries about life with superior and developed working environment. In management team building, Yuchai emphasizes discipline, rules and regulations. Under my proposal, Yuchai's system stipulates that senior executives must go on duty with first-line workers and an early plan for replacing old executives with new ones must be worked out to adjust to internationalized operation.
Now we senior executives have breakfast with workers at the corporate canteen, and take bus to the airport for business travel. Whoever plays golf at corporate expenses will be punished. I don't believe we cannot make friends without golf. It is not easy to retain talents, we should not treat senior executives partially in order to retain talents and make them work hard. I am pleased that many people who ignored me at first now work with me for corporate development, which was what I have done over the past years since I joined Yuchai.