On April 7, During the East-West Cooperation and Investment and Trade Fair, Weichai Power held the Shaanxi Plate Development Strategy Conference in the ancient city of Xi’an. Chairman Tan Xuguang issued the Weichai Power Shaanxi Development Strategy and determined that it will be in the next 3-5 years. Weichai Power will inject RMB 5 billion into the reinvestment of its subsidiaries in Shaanxi Province, and support the establishment of a heavy truck manufacturing base with Shaanxi Heavy Trucks as its leader and a key automobile parts manufacturing base with Fast Transmission as its leader.

Weichai Power is China's most comprehensive automotive and equipment manufacturing enterprise group. Its core companies include more than 40 companies such as Weifang Heavy Duty Engine, Shaanxi Auto Heavy Duty Truck, Fast Transmission, and Hande Axle, as well as in the United States and France. Singapore, Hong Kong and other places have wholly-owned subsidiaries. The company owns two stocks, Hong Kong H-shares (HK.02338) and Mainland A-shares (SZ.000338), with a market value of more than 60 billion yuan. The Group has achieved rapid growth for many years in a row. In particular, in 2009, the company successfully overcame the financial crisis and continued to maintain its growth rate ahead of the industry. At present, the Group's products have covered the three business segments of commercial vehicles, power systems and auto parts, and have the only commercial gold industry chain in China. In particular, since the merger of the Hunan Torch in 2005 and its entry into the Shaanxi region, the business segment has experienced rapid growth. Production and sales volume of heavy-duty vehicles have increased 10 times, production and sales volume of heavy-duty transmissions have increased by 13 times, and production and sales of heavy-duty axles have increased. It has increased by 18 times. Capital investment has increased from 750 million yuan in the initial period to a total of 7.3 billion yuan, and a total of 5 billion yuan has been invested in technological transformation. The market share of various businesses has steadily increased, with many businesses ranked first in the country and in the world.

Shaanxi Province is a major province of the country's automobile and equipment manufacturing industry, particularly in the automotive manufacturing industry. It not only has a full range of manufacturing resources for the light, medium, and heavy-duty automobile industries, but also plays a decisive role in the national market and has a high level of industrial technology. The platform can guarantee the high starting point and high quality of the automotive products in Shaanxi. The Shaanxi enterprises that Weichai Power belongs to are important equipment manufacturers in Shaanxi Province. Strengthening and expanding these enterprises is the common strategic goal of Shaanxi Provincial People's Government and Weichai Power.

The Shaanxi Provincial People's Government incorporated Weichai Power into the framework for the revitalization and development of the "Twelfth Five-Year Plan" automobile and equipment manufacturing industry of the Shaanxi Provincial Government. Weichai Power Group strives to achieve the strategic objectives of producing and selling 250,000 heavy-duty trucks and 1 million heavy-duty transmissions during the 12th Five-Year Plan period. At the same time, Weichai Power will take advantage of the industrial chain and collaborate with project development capabilities to fully promote domestic and foreign suppliers to set up factories in Shaanxi to build factories for advanced manufacturing industries.

At the development strategy conference, Vice Governor Wu Dengchang delivered an enthusiastic speech and fully affirmed the contribution made by Weichai Power since it entered the Shaanxi region. He highly praised Chairman Tan Xuguang. He said that history has proved that our strategic cooperation with Weichai Power is correct, and we fully affirm it. At the same time, we let Shaanxi Provincial Party Committee and Provincial Government see Tan Xuguang as an outstanding entrepreneur, who can lead our Shaanxi Province enterprises to continue their success. We want to be the first group army in China's heavy truck industry. This goal was proposed by Chairman Tan Xuguang first. I was very excited after listening to it. I firmly believe that this goal can be achieved because we have four aspects of protection: First, there is an excellent entrepreneur led by Tan Xuguang and formed an entrepreneurial team that can lead the rapid development of this group. Second, Weichai Power has strong R&D capabilities and technological innovation capabilities. Third, it has a high market development capability. It not only successfully developed the domestic market, but also has a place in the international market. Fourth, compared with five years ago, it has a solid financial and economic strength. These elements lay the foundation for achieving the above goals. For the past five years, Chairman Tan Xuguang has taken responsibility for the realization of development goals and made significant contributions to the development of the automobile industry in Shaanxi Province and even China. We are full of expectations and confidence in the strategic cooperation with Weichai Power Group in the future.

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