Zhang Shiyong: Yuchai Group expects to achieve overseas listing in mid-2010

The 6th China-ASEAN Expo "China-ASEAN Leaders Forum on Financial Cooperation and Development" was held in Nanning on October 21st. Zhang Shiyong, vice president of Yuchai Machinery Group Co., Ltd. made a keynote speech at the forum. The following are the speeches:

Our thinking on facing the financial crisis has twofold tasks. One is the recent task, and it is how to realize that the West is not bright. The second is the long-term task. How does the heavy industry company from the manufacturing center to the innovation center and the strategy from the cost control center to the value creation center build an innovation system with independent intellectual property rights. The immediate task is to solve the problem of the survival of the enterprise. The task of the period is how to build a mixed entity of industry and capital. After the task is put forward, we have a specific implementation step. We have drafted two major steps: One is to rapidly increase investment. The second is to build a complete business model or business model, to solve the rapid increase in investment, we propose that China's construction machinery, especially the neutral construction machinery manufacturers must run at a sprint speed.

Since the beginning of this year, the company has made a series of breakthroughs in product quality, including product research and development. This is basically in accordance with the company's strategic cooperation and has initially formed a breakthrough for the company. The rapidity is also reflected in the second aspect, that is, how to form a market curve overtaking in the context of marketing and market differentiation services. We use four words to summarize that the “creating scale” market is created. Under the guidance of this idea, our market share in China has increased by 4 percentage points this year. At the same time, we have implemented a differentiated nanny-style post-market service. This has caused our quality problems to disappear in the bud.

The second major investment, 2009 and 2010 is the peak period of our investment. If we count the static investment, we will reach 10 billion yuan. Through this investment, we will further reduce the operating costs of the company and meet the long-term development needs of the enterprise. .

The third part of my speech is the capital market breakthrough and regional sharing. When talking about this topic, I would like to share with you the strategic issues of the company, implement the strategy of going global in 2009, and start Yuchai’s strategy. The construction of the second base and the third base has initially completed the industrial layout at home and abroad. By 2015, we hope that our two affiliated companies will also come in. Yuchai is building a series of trade models, not aggressive or not. Blind.

Yuchai Group is also looking for a series of business plans through such a large investment. The first one is currently actively planning the overall overseas listing of the company and is expected to be realized in mid-2010. The realization of this goal is the first in the Yuchai Group's capital market. Steps are also the first step towards achieving the goal of Yuchai Group's investment and financing strategy. With the opening of this market, financing channels will be opened and development will also enter the fast lane. Yuchai’s desire to seek cooperation in information service informatization consulting is even greater. Strong, demand is more extensive. The second is that we are also actively accelerating the strategy of advancing internationalization. Our strategy for domestic companies is relatively high. We have established an agency relationship with more than 30 countries. With the continuous expansion of overseas markets, although the group's major markets are concentrated in Europe and the United States, what we have here to say is that some of ASEAN’s national group market is still a blind spot, so we are also exploring how to promote services in exploring regional economic cooperation issues. Cooperation in the field, especially after-sales market services.

We also do not rule out the OEM mode of service cooperation mode and seek a foothold in the Southeast Asian market through technological means. Before I conclude my statement, allow me to make some personal suggestions on the development of regional cooperation. I think these suggestions also help the Western region to realize the desire to go abroad and introduce it, to make bad decisions, and to make rash decisions. The investments may bring losses or even cause financial crisis. I have three suggestions:

First, a highly transparent cooperation mechanism under the legal framework. We know that some manufacturers in Korea and Japan chose to be in Thailand, although there were some reports on the Thai evidence some time ago.

Second, set up a platform for cooperation in the field, through the platform for risk warnings, which play a great role in business operations.

Third, to build a platform for the exchange of talents and business contacts, talents must first go through communication, through cultural communication, social culture, legal integrity, and other issues.

With the cooperation between ASEAN countries, China and ASEAN countries will certainly be able to break the trend in the global financial crisis and practice regional communication.