On February 4th, leaders from around the world met in Weifang, China, for the fifth Shandong Heavy Industry - Weichai Power Global CEO Conference. This gathering brought together 58 top executives from Shandong Heavy Industry Group's operations in 13 countries. The goal was to discuss the future of the conglomerate and strategies for worldwide growth.

 

Tan Xuguang, the chairman of Shandong Heavy Industry Group and Weichai Power, led the event. He gave a speech called "Earning Respect of Global Customers Through Strength." Mr. Tan looked back on the group's achievements in the last 20 years, highlighting its global expansion and successful collaborations. He expressed a shared dream of creating a world-class corporation and ensuring the well-being of their 150,000 employees worldwide.

 

The pivotal move in Shandong Heavy Industry Group's global journey was Weichai Power's acquisition of Zhuzhou Torch Spark Plug in 2005. Initially specializing in engine manufacturing, the group expanded into various sectors like commercial vehicles, agriculture machinery, and marine transportation gear. This diversification solidified the group's position as a leading multinational conglomerate in China, with an annual operating revenue of US$72 billion and a global reach index of 48.57%.

 

Shandong Heavy Industry Group actively promotes open collaboration, expanding its alliance of strategic brands. Some of its portfolio includes Weichai Power, China National Heavy Duty Truck, and Shantui Construction Machinery Co., Ltd. The group also holds significant stakes in global firms like Italy's Ferretti and Germany's KION Group. With innovation centers in over 10 countries, the group delivers products and services to more than 150 countries.

 

In 2023, the group reported a remarkable 33% year-on-year increase in operating revenue and doubled profits, marking its most successful financial performance to date.

 

Mr. Tan emphasized the importance of assembling a team of elite CEOs to elevate the organization globally. He urged these leaders to be technologically adept entrepreneurs, visionary thinkers, skilled engineers, persistent performers, and cultural envoys. Their task is to create enhanced value for customers and position the firm as a respected powerhouse in the industrial equipment sector on a global scale.