Core Viewpoint - The article highlights the transformation of Schaeffler in China under the leadership of Zhang Yilin, emphasizing the importance of local management and innovation in adapting to the Chinese market [2][11]. Company Development - Schaeffler entered the Chinese market 30 years ago, with Zhang Yilin leading the company for 21 years, growing from a small team to nearly 19,000 employees and achieving sales of nearly 5 billion euros [4][10]. - The company established six major R&D centers and 17 factories in China, focusing on local innovation and development to meet market demands [4][10]. - The initial sales target set by Zhang Yilin was 1 billion euros by 2010, which was achieved through building a skilled local workforce and fostering a culture of innovation [4][5]. Talent Development - A significant investment was made in training local talent, with many German engineers providing hands-on training to Chinese employees, resulting in a robust local R&D capability [5][7]. - The training system categorized technical skills into five levels, fostering a competitive environment that led to high-quality outputs [4][7]. Market Adaptation - Schaeffler adapted to the changing Chinese automotive landscape by shifting focus from traditional clients to local brands, which required lower costs and faster development cycles [8][10]. - The company successfully navigated challenges posed by new domestic car manufacturers by enhancing local R&D capabilities and maintaining high-quality standards [10][12]. Strategic Positioning - Schaeffler China has become the third-largest segment of the global group, accounting for nearly a quarter of total revenue, and continues to show strong growth [10][11]. - The company has begun to export talent to other regions, indicating a shift in its operational dynamics and increasing confidence in local capabilities [7][10]. Future Outlook - Zhang Yilin aims for Schaeffler China to achieve 8 billion euros in sales by 2030, transitioning into a technology-driven company while becoming a more authentic "Chinese private enterprise" [16].

Core Insights - The overseas business of A-share listed companies has shown significant growth, becoming a new engine for performance improvement in 2024 [1][2][3] Group 1: Overall Performance - In 2024, companies listed on the Shanghai Stock Exchange achieved overseas revenue of 6.09 trillion yuan, a year-on-year increase of 7% [1] - The Shenzhen Stock Exchange reported that 2007 companies generated overseas revenue of 4.18 trillion yuan, reflecting a growth of 11.62% [2] - High-tech products such as high-end equipment, integrated circuits, smart home appliances, and electric vehicles have driven overseas revenue growth in various sectors [1] Group 2: Company Highlights - Notable companies with overseas revenue exceeding 100 billion yuan include Luxshare Precision, BYD, Midea Group, Weichai Power, and CATL [2] - Shandong Wantong Hydraulic's overseas market revenue grew by 62.71% in 2024, indicating strong demand for customized products [3] - Zoomlion's overseas revenue accounted for over 51% of total revenue, with significant international market presence [5] Group 3: Strategic Developments - Companies are increasingly focusing on localizing their operations abroad, with examples including the acquisition of Leoni Group by Luxshare Precision and the establishment of overseas warehouses by CIMC [6][7] - China Communications Construction Company reported a new contract value of 359.73 billion yuan for overseas projects, with a 12.5% increase year-on-year [4] - Arrow Home's overseas revenue surged by 137.73% in 2024, driven by enhanced organizational structure and targeted market strategies [8] Group 4: Market Trends - The trend of "going global" is evolving into "going local," with companies emphasizing local integration and development [6][7] - The focus on enhancing product and service competitiveness is evident, as companies invest in technology and innovation to support overseas projects [4][5] - The importance of cultivating local talent and improving cross-cultural communication is highlighted as essential for future success in international markets [8]