Yuchai Group Becomes More International by Leveraging the OBOR Initiative

by Generator D. Diesel Generator

The Fifth Guangxi Tour of National Major Network Media, themed by “Energetic Southeast Guangxi, New Developing Highland”, chose Guangxi Yuchai Machinery Group Co., Ltd. as its first station. On the afternoon of July 3, an interview team of nearly 70 people composed of journalists and editors from 45 media outlets and network celebrities from all over the country walked into one of China’s top enterprises in the engine industry for a field visit.

It was learnt that Yuchai Group, founded in 1951 and headquartered in Yulin, Guangxi, is an investment & financing management company with over 30 wholly-owned, holding and joint-stock subsidiaries, nearly 20,000 employees and total assets of RMB 34.4 billion. It is an internal combustion engine manufacturing base with the most complete spectrum of products in China, with industrial bases in many areas like Guangxi, Guangdong, Jiangsu, Anhui, Shandong, Hubei, Sichuan, Chongqing and Liaoning. Yuchai ranks No.103 on the list of “China’s 500 Most Valuable Brands 2017”, and its brand value has increased to RMB 34,596 million, maintaining its leadership in China’s engine industry.

In the field of engine research, Yuchai Group is the first of its kind to launch engines conforming to Euro IV, Euro V and Euro VI emission standards, leading a green revolution in the engine industry and constantly providing cost-effective green power and machines for clients. Yuchai Group owns over 2,000 authorized patents, and multiple techniques have filled domestic technical gaps. “Key Technology and Industrialization of Energy-conserving and Environmentally-friendly Diesels” and several other projects won the second prize of National Prize for Progress in Science and Technology three times. In 2016, the new products of Yuchai Group witnessed a sales volume of 170,000 sets, accounting for 53% of total sales volume; sales revenue of new products reached RMB 7 billion, accounting for 55%. Yuchai’s marine & G-drive engine products have achieved a sustainable sales growth in recent years, and currently the domestic market share has increased to 32%. At the same time, the overseas market of Yuchai’s marine & G-drive engine products is expanding rapidly, and the sales have doubled from 2014 to 2016.

Yuchai performs very well in overseas market. This May, Yuchai received export orders for over 5,200 sets, which was the first time in the past six years that Yuchai’s export quantity exceeds 5,000 in a single month. For the structure of the export products, most of the oversea orders are for buying Yuchai’s truck engine and bus engine; while the latter gains significant growth in many aspects. “Yuchai will firmly seize the opportunity of ‘One Belt and One Road’ Initiative in the next step to expand the layout of overseas market and accelerate the pace of internationalization,” said Tan Guirong, Vice President of Guangxi Yuchai Machinery Group Co., Ltd.

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