On the 2014 Commending Meeting of Yuchai Group held on May 15, Yuchai Group Chairman Yan Ping stated that the Group has seized opportunities this year and kicked off the second entrepreneurship campaign as well as the transition & upgrading strategy, thus securing the wonderful business start for the year.

In January-April this year, the major business indicators of Yuchai Group kept growing. The aggregate revenues rose by 1.38% YOY. The engine industrial chain harvested a YOY growth rate of 5.56% in sales volume with the sales revenues increasing by 10.78% YOY. The sales revenues of oil & chemical industrial chain reached RMB 2.889 billion. The engine production and sales volume of Yuchai maintained the leading position in the industry with the market share continuing to grow. And the engine sales volume in January-April grew by more than 11% YOY with the sales volume increasing by nearly 15% YOY.

According to Yan Ping, in the backdrop of severe industrial environment, Yuchai has received strong support from the CPC Municipal Committee and Municipal Government, thus kicking off the second entrepreneurship cored on transition and upgrading. The second entrepreneurship will use the building of Yuchai Industrial New Town as the opportunity and platform. By integrating the Groups resources, it will build the Yuchai Industrial New Town into the national new-type machinery manufacturing (combustion engines) industrial base, thus forming the industrial layout of high-end machinery manufacturing industry. In 3-5 years, it will try to realize the annual output of more than RMB 100 billion (including the Head Office of Yuchai). Yuchai will reform its original 6 industrial sectors, which include 2 product chains and multiple industrial clusters, into a new layout consisting of two industrial chains of engines and oil & chemicals, and two service platforms consisting of finance and logistics. By re-positioning the Groups development model, it will pool its advantageous force and resources, optimize the structure and push forward industrial transition and upgrading.

(Song Yonggeng)