Forging the Future: Weichai Power's Global Strategy for Supply Chain Excellence

Strategic Partner Conference Focuses on Innovation and Collaboration in the Evolving Global Supply Chain Landscape

HAIKOU, China, Dec. 11, 2023 /PRNewswire/ -- From December 10 to 11, 2023, Weichai Power (HK2338; SZ000338) hosted the Global Supply Chain Strategic Partner Cooperation Conference in Haikou, Hainan, China. The event brought together over 400 suppliers globally to celebrate the accomplishments of 2023, deliberate on forward-thinking supply chain integration plans, and formulate strategies for future growth.

Tan Xuguang, Chairman and General Manager of Shandong Heavy Industry Group, Chairman of Weichai Power, and Chairman of China National Heavy Duty Truck Group, attended the conference and delivered a keynote speech entitled "Chain Integration Innovation, Challenging the Future". He highlighted Weichai Power's efforts to promote the industry's advancement through collaboration with global supply chain partners, resulting in a broad spectrum of power solutions and the establishment of globally recognized industry brands. In response to the evolving trends and characteristics of global industrial development, Mr. Tan proposed four key principles for collaborative success: Strategic Consistency, Mutual Benefit, Optimization and Improvement, and Integrity in Ecology. These principles are aimed at developing an effective global industrial cooperation ecosystem. The conference also marked the unveiling of a framework for selecting outstanding suppliers and solidified a commitment to transparent cooperation with ten supplier representatives.

Weichai Group, a leading multinational in the industrial equipment sector based in China, has established a significant global presence. The company's diverse portfolio includes power systems, commercial vehicles, agricultural equipment, construction machinery, intelligent logistics solutions, and marine transportation equipment. Weichai maintains a global footprint with subsidiaries in Europe, North America, and Asia, and exports to more than 150 countries. In recent years, the company has notably increased its investments in technological innovation, establishing ten advanced innovation centers worldwide. These efforts have led to the development of a comprehensive range of product platforms, which emphasize both medium and high-speed engines while equally focusing on traditional and renewable energy sources. Weichai's engine offerings, covering a range from 2L to 579L in displacement and 18kW to 10,000kW in power, place it among a select group of companies with one of the most extensive product lines globally.

In his speech, Mr. Tan underscored the critical role of collaborative partnerships in driving progress, asserting that a vibrant future is contingent upon the collective efforts of the entire industry chain. He highlighted the necessity of unity as a formidable force in an environment characterized by changing industry cycles and intense global competition. Mr. Tan stressed the significance of self-reliance and the enhancement of China's premier supply chain as vital for establishing leadership. He articulated that the ultimate objective is to engage in cooperative and mutually beneficial relationships with the world's leading supply chains, aiming to serve the broader global industry effectively.