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The Shandong State-owned Assets Supervision and Administration Commission announced in a document issued on March 20 that the former China National Heavy-duty Truck Group Co., Ltd. referred to as China National Heavy Duty Truck Co., Ltd.'s 100% Weifang Diesel Engine Plant (referred to as Weichai Plant) shares transferred to Shandong Province SASAC directly Holding, Shandong Province SASAC will hold 100% of the two major companies. The Weichai plant also holds 23.53% of Weifang Diesel (hereinafter referred to as Weichai). After the equity transfer, Weichai Power and Weichai Power Plant and China National Heavy Duty Truck will no longer have any equity relationship.
SINOTRUK and Weichai completely parted ways.
On December 1 last year, Weichai Power and Shaanxi Heavy Duty Truck held a joint meeting in Xi'an and officially announced that it would stop providing engines for its parent company and its largest customer, China National Heavy Duty Truck.
In the face of Weichai’s approach, China National Heavy Duty Truck Co., Ltd. did not show weakness, and announced that from January 2006, it would stop placing annual orders for Weichai Power and transfer most of its orders to its wholly-owned subsidiary Hangzhou Engine Plant.
The separation of Sinotruk and Weichai Power is the result of intensified contradictions between the two sides. It is still unpredictable what kind of situation will be created after the breakup. At present, the China Economic Times reporter learned from the positions of both parties that both sides have temporarily left off The grievances of the other party, to create their own independent industrial chain, but the two sides have become inevitable competitors.
In the "Eleventh Five-Year Plan" Outline for the Development of Shandong Province's Quality and Technology Supervision Undertaking, with the exception of Haier, Shandong Province made it clear that it will give priority to bolstering international brands such as Sinotruk, Tsingtao, Hisense, Aucma and Weichai Power. .
“The separation of Sinotruk and Weichai Power is for the needs of the two companies.†A person in charge of the Shandong State-owned Assets Supervision and Administration Commission's Property Department told reporters, “At present, China National Heavy Duty Truck Group is preparing for the whole of Hong Kong, and at the same time, weichai. Starting a diversified market layout, Sinotruk and Weichai Power are the backbone enterprises in Shandong and believe that these two companies will develop in accordance with their respective goals and create a well-known brand in Shandong Province.â€
How are the contradictions between the two sides intensified?
Before the formal separation, China National Heavy Duty Truck has always been the largest customer of Weichai Power. It purchases 50,000 sets of Weichai engines each year, accounting for nearly 40% of the total sales of Weichai engines, and purchases of about 2 billion yuan.
Why are such important partners finally parting ways?
In early 2005, CNHTC Hong Kong’s overall listing plan was initiated. Since Weichai is a wholly-owned subsidiary of China National Heavy Duty Truck, the company is expected to include Weichai as the main body of its listed company in accordance with CNHTC’s listing plan. At the same time, because Weichai Power Plant is the controlling shareholder of Weichai Power, CNHTC hopes that Weichai Power shares held by Weichai Factory will be transferred to Sinotruk to increase the gold content of CNHTC.
In fact, the Weichai allocated by the government to CNHTC has always been an independent development and has achieved remarkable results. The control of China National Heavy-duty Trucks for Weichai Power is also becoming more and more difficult. Therefore, the plan of China National Heavy Duty Power for the Hong Kong listing of Weichai Power held by the Weichai Power Plant was strongly objected to by the Weichai Power Plant. Once it is incorporated into the overall listing of the group system, the independence dream of Weichai Power will be difficult to do. The contradictions between the two sides have therefore intensified.
In order to obtain independent chips as quickly as possible, in August 2005, Weichai Power Plant acquired the Hunan Torch through its Weichai Power Investment Co., Ltd. to indirectly control Shaanxi Heavy Duty Truck and publicly stated that it would develop to complete the vehicle and build its own heavy-duty automotive industry chain. Competition with China National Heavy Duty Truck.
In October 2005, Sinotruk regained control over the Hangzhou engine plant that had been handed over to the Weichai plant, and China National Heavy Duty Trucks decided to take back the original intention of Hangfa by using Hangfa to fight against Weichai.
In December last year, Weichai Power formally announced that it would stop providing engines for Sinotruk. Sinotruck also announced in January this year that it would stop purchasing engines from Weichai Power.
“At that time, the Provincial State-owned Assets Supervision and Administration Commission meant that the two companies had a strong alliance to create a heavy truck industry chain and laid a good foundation for stabilizing Shandong’s dominance in the machinery manufacturing industry. However, as Weichai Power was listed in Hong Kong in 2004, both The frictions began to increase frequently.†According to the Shandong State-owned Assets Supervision and Administration Commission, the Shandong State-owned Assets Supervision and Administration Commission has coordinated several times, but they all ended without results.
China National Heavy Duty Truck: Wechat has no effect
On April 18, the inauguration ceremony of CNHTC Jinan Power Co., Ltd. (Jinan Power) was held in the newly established engine workshop in Jinan. This is a production base of China Heavy-duty Trucks that specializes in producing China's heavy-duty engines. .
"Weanqing's supply can be said to have little impact on us. At present, the engine output of Hangfa is increasing month by month, and it has been fully able to supply China National Heavy Duty Truck. Its output exceeded 5,000 units last month, with China There is still room for improvement in the production of steam moon. In addition, with the establishment of Jinan Power Co., Ltd., the Jinan engine production line has been officially put into operation and the cost is low.†A person in charge of the CNHTC Propaganda Department told reporters Say.
It is understood that Jinan Power's annual production and design capability is 100,000 heavy-duty vehicle engines, which has reached 2,000 units in the first two months of trial production.
China National Heavy Duty Truck currently has Steyr, HOWO two series of engines, Jinan power production of "China Sinotruck" brand engine is a lifting engine, based on the original Steyr technology made 17 upgrades, but also in the cost Big cuts.
According to China National Heavy Duty Truck, China National Heavy Duty Truck has assembled 140,000 Weichai engines. After the separation, after-sales service will be undertaken by China National Heavy Duty Truck Co., Ltd. and Weichai will not be responsible for any new engine parts. The use of Weichai engines for interchange has attracted people’s attention.
“The Weichai engine is the basis of Sinosteel's introduction of Steyr's technology. It digests and absorbs domestically-made products. It is produced by Weichai and Hangfa. At present, the “Chongqi†engine and Hangfa have completely used the same standard. , And has carried out 17 items of promotion, we have the test data, after promotion, each index must be superior to the original use Weichai engine.†Wang Wenyu, Wang Wenyu, vice general manager of the marketing work of China National Heavy Duty Truck, told reporters.
Weichai: Seek for the rapid expansion of diversified development
On February 15, at the Weichai Power Business Conference 2006 held in Weifang City, Shandong Province, Tan Xuguang, chairman and chief executive officer of the company, together with the general manager and distributor representative of Bosch China Co., Ltd., jointly launched the symbol of the Weichai industry chain. VCHINA planning model button.
Weichai originally only made heavy-duty engines, but after Tan Xuguang took office in 1998, he proposed a strategic approach to market diversification and successively developed new products in different fields such as construction machinery, ships, and generator sets.
Zhang Quan, general manager of Weichai Power Market, revealed to reporters that in January it had sold 14,000 engines of various types, of which only WD615's single product sales exceeded 12,000 units, and February orders had exceeded 15,000 units, continuing to maintain a substantial increase year-on-year. WD615 series of diesel engines for construction machinery is based on the Steyr WD615 series of truck engine, digesting and absorbing advanced foreign technology and development and innovation, has now become a new type of construction machinery power.
In 2005, the heavy-duty truck industry experienced the first negative growth in the past eight years, leaving many manufacturers caught by surprise. Weichai, on the other hand, relies on its own reasonable market layout, and has a market share of more than 70% in construction machinery, heavy-duty automobiles, ships, and generator sets, and it is the first place in the industry.
According to forecasts of relevant departments of Weichai, in 2006 the company’s sales of construction machinery engines will exceed 60,000 units, and the passenger car engines and marine engines will each sell 10,000 units, which is expected to increase significantly from last year.
Comprehensive confrontation
China National Heavy Duty Truck official said that although the engines produced by CNHTC are currently mainly used by the Group for their own use, with the expansion of Jinan Power and the monthly increase in the production of Hangfa, the engines of CNHTC will sooner or later go into the market and the future Chai Power's competition is inevitable.
Weichai Shaanxi Automobile, which is controlled by the Hunan Torch, wants to transfer the market share left by Sinotruk to the Shaanqi Industry Chain. However, Shaanxi Automobile and Cummins have a project to co-produce high-power engines. Therefore, Weichai must Find new customers or open up new markets.
At present, the structure of the domestic heavy truck engine market is relatively stable. The first-tier heavy-duty truck engine has a relatively stable market structure. The first-generation heavy-duty truck engine uses a combination of Dachai and Xichai, and Dongfeng uses a Cummins engine. Under the scramble for Weichai, this relatively stable market structure will gradually change, but domestic overcapacity has become a surplus. In the foregone conclusion, Weichai and China National Heavy Duty Truck are actually facing real pressure.
According to industry sources, with the end of the ownership relationship between China National Heavy Duty Truck Group and Weichai Power, competition will surely be on the table. On the one hand, Weichai's goal of resuming the entire vehicle after the reorganization of the Hunan Torch is very clear. In the heavy-duty vehicle market, competition with China National Heavy Duty Truck is inevitable. In addition, China National Heavy Duty Truck launched the engine in the field of the two armies of the engine can not be avoided.
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