Speaking of Weifang, it is considered that this is a city of kites, but Weifang's latest business card is a much more important Weichai power than a kite. Weichai Group is the only company in the country that has four major business platforms: complete vehicle, powertrain, luxury yacht and auto parts . Group Holding Subsidiary, Weichai Power Co., Ltd. is an A+H listed company and the only enterprise group in China that has a power system ( engine , transmission, axle), heavy-duty vehicles, automotive electronics, and parts gold industrial chain. .
The Weifang Group spent only 14 years from the huge loss of state-owned enterprises in Shandong, which has a shortfall of 300 million yuan, and only 80,000 yuan in reporting funds, to the aircraft carrier of a global company with an annual revenue of nearly 100 billion yuan and a profit of 7.7 billion yuan. Behind the development of ultra-fast development, Tan Xuguang, the leader of this world-class company, has strategic thinking and strategy.
The energy of the board
Good corporate governance is the fundamental guarantee for evergreening. The board of directors is undoubtedly the key. Since the establishment of Weichai Power, we have established a multi-district, multi-cultural equity structure that includes domestic and foreign strategic partners, industry-leading customers, and senior management teams, and achieved the internationalization and diversification of the company's shareholding structure for the company's business development. A strategic pilotage and implementation supervision platform with a reasonable structure and a solid foundation was established. On this basis, Tan Xuguang attaches great importance to the construction of the board of directors and pays attention to the role of the board members in making scientific decisions.
Currently, the board of directors of Weichai Power is composed of 18 directors, who are elites in various fields such as investment and acquisition, financial management, technology research and development, and marketing industries. They have extensive experience in experience and ensure the professionalism and scientific nature of decision making on major issues of the board of directors.
How does scientific decision-making come about? Tan Xuguang attaches particular importance to the professional committee of the board of directors. In order to standardize the company's operations, Weichai Power has established a governance structure of “three meetings and one floor†and continuously formulates and perfects various systems and work processes in practice, especially focusing on the role of professional committees.
There are four professional committees under the board of directors of Weichai Power: the Audit Committee, the Nomination Committee, the Remuneration Committee, and the Strategic Development and Investment Committee. Except for the Strategic Development and Investment Committee, the chairmen of the professional committees are all independent directors, and more than half of the independent directors are members of the professional committees.
Before the board of directors makes a resolution, all major issues involving professional committees will be heard by professional committees. If they have different views on a certain proposal, Tan Xuguang cannot impose a request. Each professional committee fully fulfilled its duties in accordance with its own work rules, provided professional advice on various operational decisions of Weichai, and played an active role in the long-term development of the company. Under Tan Xuguang's advocacy, the board of directors adhered to a strategy-oriented approach, made full use of a wealth of resources, had a forward-looking vision, played its strategic judgment, and led the company's strategic direction of development, achieving a professional, efficient, forward-looking operation.
Jump out of "indigenous innovation"
Weichai's gold industry chain not only provides necessary research funding for Weichai's research and development, but also enables Weichai to come up with a new path of "chain innovation."
In the final analysis, the manufacturing industry fights technology. Tan Xuguang knows this well. After years of accumulation, Weichai has used the advantages of the industrial chain to develop a "powertrain" product that matches the engine, gearbox and axle. This means that as long as the automaker matches the design of its own cabs and carriages, a new truck or bus can be brought to market, and the development cycle is shortened by 1/5. This "powertrain" is one of the results of the development of Weichai's power chain innovation technology.
In addition to its own internal “chain innovationâ€, Weichai also extended this model to the downstream vehicle companies in the industrial chain. An important part of the comprehensive strategic cooperation agreement between Weichai Power and Foton Motor is that the two sides will further establish a joint research and development mechanism for technological innovation, and will establish a power system technology research and development center based on the needs of the entire vehicle, and at the same time integrate their respective global R&D. Institutions can effectively reduce the cost of both parties' design and establish stronger competitiveness. As a result, Foton Motors saved test costs and Weichai Power gained a solid and stable customer relationship.
The most important feature of Weichai's innovation is its openness, integration, innovation, and creation. “From the traditional closed doors to innovation, to the present open innovation, this is an innovation of ideas. In the past, many people mistakenly believed that independent innovation was 'innovation of their own'. But think about it, your own technology and Product upgrading also means the upgrading of technologies and products of upstream and downstream partners in the industrial chain, especially the improvement of terminal technologies and products, which is particularly important for intermediate product manufacturers. On innovation, we must promote innovation in the entire industry chain and the entire industry.†Tan Xuguang said that in the vertical direction, cooperation in the upstream and downstream links of the industrial chain is achieved, and the advantageous resources of other companies are horizontally combined to break the closed innovation of individual enterprises. This is the open innovation idea of ​​Weichai Power.
In 2006, the Weichai Power Products R&D Community was established. Thirty-two powerful component suppliers from the industry joined the group, forming a situation where Weichai Power was the main component and complementary advantages of various component suppliers to jointly promote technological innovation.
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