HIG(SZ:000548) Zhong Guo Qi Che Bao Wang·2026-01-27 07:28Core Viewpoint - Yuchai Group has been a significant player in China's industrialization and global power equipment landscape for 75 years, emphasizing innovation and collaboration with global partners to drive future growth [2][6]. Group 1: Company Achievements - In the past year, Yuchai achieved double-digit growth in sales revenue and profit, with brand value surpassing 114.3 billion yuan, leading the industry for 20 consecutive years [5]. - The cumulative production and sales of engines exceeded 12 million units, with products exported to over 180 countries and regions [5]. - Yuchai has transformed from a local factory into China's largest independent engine manufacturer [6]. Group 2: Customer-Centric Philosophy - Yuchai's chairman emphasized the importance of customer success for the company's survival, stating that the company does not compete with customers but focuses on meeting their needs [8]. - A loyal customer shared positive experiences with Yuchai's reliable products and responsive service, highlighting the company's commitment to quality and customer satisfaction [8]. Group 3: Strategic Initiatives - Yuchai is implementing the "1335" strategy to become a world-class power system supplier, focusing on traditional power, new energy, and intelligent equipment sectors [11]. - The company aims to sell 600,000 engines by 2025, with a 30% year-on-year increase, particularly in commercial vehicle power sales, which are expected to grow by 54% [11]. Group 4: New Energy and Intelligent Equipment - Yuchai is advancing in the new energy sector, targeting a 155% year-on-year increase in new energy power system sales by 2025 [13]. - The company introduced a flywheel range extender system, which optimizes efficiency and reduces costs in commercial vehicle charging [13]. - In the intelligent equipment sector, Yuchai is integrating AI with manufacturing processes, expanding into high-end machine tools and autonomous driving equipment [13]. Group 5: Global Expansion - Yuchai's overseas engine sales are projected to exceed 130,000 units by 2025, reflecting a significant transformation from "product export" to "system export" [17]. - The company reported a compound annual growth rate of over 43% in overseas engine sales during the 14th Five-Year Plan, with plans to establish over 10 localized factories globally [19]. - Yuchai's strategy includes deepening cooperation in domestic markets while expanding its global footprint, particularly in Southeast Asia and Latin America [20]. Group 6: Collaborative Future - Yuchai invites global partners to collaborate in technology development, market expansion, and supply chain coordination, emphasizing the importance of open cooperation in navigating industry changes [23]. - The theme "123GO" represents Yuchai's commitment to unity with partners, driving development through technological innovation and global strategy across three key sectors [23].