As a leader in China's power industry, Yuchai released at the event 15 brand-new power products, including China's highest-horsepower 15L diesel engine in its displacement class, the YCK16N high-horsepower gas engine, China's first high-speed gas power unit suitable for 2 MW generator sets, the domestic pure-electric heavy-truck box-drive power system with the highest specific power, and the YCF11 three-cylinder diesel engine with the highest power and lowest fuel consumption in its displacement class in the industry, providing customers with more diversified power system solutions. Qin Rupei, member of the Party Leadership Group of the Guangxi Zhuang Autonomous Region Government and Party Secretary of the Autonomous Region's State-owned Assets Supervision and Administration Commission, Wang Chen, Party Secretary of the Yulin Municipal Committee, and Xing Min, Executive Vice President and Secretary-General of the China Internal Combustion Engine Industry Association, attended the meeting and delivered speeches. Li Hanyang, Party Secretary and Chairman of Yuchai Group, delivered a keynote speech, and Wu Qiwei, President of Yuchai Co., Ltd., delivered a thematic report on power systems.

After more than 70 years of ups and downs, Yuchai remains vigorous and thriving, with its brand competitiveness and operational quality continuing to improve. Especially in recent years, amid severe conditions such as a complex and volatile business environment, continuously upgraded policies and regulations, and accelerated iteration of new technologies, Yuchai Group and its vast partners have faced challenges head-on and forged ahead together. In 2023, the company's sales revenue hit a record high, its brand value exceeded 85.8 billion yuan, and it ranked ** in the internal combustion engine industry for 18 consecutive years.

In his speech, Qin Rupei affirmed the development achievements of Yuchai's operations and encouraged Yuchai to focus on its main responsibilities and core business, adhere to scientific and technological innovation to "stimulate vitality," deepen reform to "increase momentum," and pursue open cooperation to "gather synergy." He urged Yuchai to do a good job in the three areas of strengthening industry, improving quality and efficiency, and cultivating new opportunities; to collaborate with domestic and overseas partners; to proactively integrate into the ASEAN market, the Belt and Road Initiative, and the construction of the New Western Land-Sea Corridor; to expand market scale; to sell more high-quality products globally; to burnish the brands of Guangxi manufacturing and Chinese manufacturing; and to strive toward the goal of building a world-class enterprise, opening a new chapter and making new contributions to the high-quality economic and social development of Guangxi.

Wang Chen said that Yuchai is a precious gem of Yulin. For more than 70 years, it has been rooted in Yulin and has made important contributions to the city's high-quality economic and social development, and is truly a benchmark for industry in Guangxi and Yulin. He expressed the hope that Yuchai will give full play to its leading role as a flagship enterprise, continue to build out the entire industrial chain, shore up weak links in the chain, use scientific and technological innovation as the main breakthrough, open up more new tracks and new fields, and better drive upstream and downstream enterprises in Yulin to transform, upgrade, and grow stronger. The Yulin Municipal Party Committee and Municipal Government will firmly support Yuchai's development, help Yuchai implement its scale-doubling project, and promote Yuchai's efforts to be rooted in Yulin, step out of Guangxi, and go global.

Xing Min affirmed Yuchai's achievements. He said that as a key leading enterprise in China's internal combustion engine industry, Yuchai has not only witnessed the rise and development of the industry but also made outstanding contributions to the vigorous development of China's internal combustion engine industry. In particular, in recent years, Yuchai has taken the development of internal combustion power as its main business, put customers at the center, and dared to innovate. It has successively led the launch of a number of pioneering products, some of which have reached international levels and filled many market gaps. Its market share and international brand awareness have continued to rise, contributing to the coordinated development of China's internal combustion engine industry and the automotive industry chain and to helping achieve the "dual carbon" goals.

Li Hanyang delivered a keynote speech titled "Working Together to Help Success," in which he once again emphasized Yuchai's corporate survival philosophy of helping customers succeed and clarified Yuchai's aspiration and pursuit of becoming China's ** and world-class power system supplier. He said that customers are Yuchai's bread and butter; without customer demand, there would be no basis for Yuchai's survival. Yuchai takes "Only by helping customers succeed can Yuchai survive" as its corporate survival philosophy and promotes the implementation of the concept of "helping customers succeed" through industrial adjustment, organizational change, R&D system reform, and marketing and service reform. Yuchai is an enterprise with aspirations, and Yuchai people are strivers with lofty goals. To achieve the goal of being China's ** and world-class, Yuchai has formulated the 1235 strategic path for realizing its scale-doubling project. In the future, Yuchai will join hands with partners across the industrial chain to meet challenges together, work in unison, help each other succeed, and create the future together.

For a long time, no matter how the market environment has changed, Yuchai has always adhered to the strategic positioning of "being an independent professional power system supplier" and has formed strategic cooperative alliances with a vast number of OEM customers, dealers, service stations, and suppliers, working together with sincerity, keeping each other warm, and striving forward in unison to create value for customers, achieve customer success, and achieve itself. In 2023, Yuchai took a big step toward improving quality and efficiency: in the commercial vehicle power segment, Yuchai's China VI products were fully launched, and its market share ranked first in the industry in sub-segments such as 4-8L medium- and heavy-duty power, medium- and heavy-duty engineering truck power, conventional bus power for buses over 6 meters, and hybrid bus power. In 2023, Yuchai's China VI tractor power and bus power sales achieved double-digit growth, and gas engine sales achieved triple-digit year-on-year growth.

In the general machinery power segment, Yuchai created the ** share in five engineering machinery power fields: wheeled excavators, mining vehicles, large-tonnage forklifts, aerial work equipment, and explosion-proof machinery. In multiple sub-markets of agricultural equipment such as tractors, cotton pickers, wheat harvesters, and sugarcane harvesters, Yuchai ranks first in the industry; in particular, in high-horsepower agricultural machinery power, Yuchai holds an absolutely dominant position.

In the marine and power generation power segment, Yuchai ranked ** in market share for power generation engines and marine engines above 16L displacement. Its high-power power generation products entered high-end markets such as communication systems, petroleum systems, and data centers, filling domestic gaps. It independently developed a variety of gas and ferroalloy tail-gas fuel power generation engines, and market orders exceed supply.

In the new energy power segment, Yuchai's range extenders, fuel cells, the domestically most powerful electric motors, and the world's first hybrid electric drive continuously variable transmission power assembly and other new energy power products have all achieved market application. Yuchai established a hydrogen energy technology company to build a hydrogen R&D and production base and to build future-oriented capabilities across the entire hydrogen energy industry chain.

In the overseas market segment, Yuchai's strategy of seeking strength through the sea is very clear. Its product sales and services have expanded to more than 180 countries and regions around the world, achieving full coverage of countries and regions along the Belt and Road Initiative, making it one of China's most successful power brands overseas. In 2023, Yuchai's exported engines grew by nearly 30% year on year. At present, Yuchai's overseas engine parc is nearly 650,000 units.

In his thematic report on power systems, Wu Qiwei analyzed the complexity and uncertainty of the external environment and pointed out that opportunities and challenges coexist in the stock era, cyclical adjustments, and the impact of new energy and internationalization, as well as under the multiple influences of continuously upgraded policies and regulations and rapid iteration of new technologies. At present, Yuchai is standing together with its vast partners through thick and thin, jointly advancing the scale-doubling project and the 1235 strategy—

Scale-doubling project:

By 2025, double annual sales volume and sales revenue of power systems.

By 2027, leap to ** in the domestic power system market.

By 2030, become a world-class enterprise in power systems.

1235 strategy:

1 goal: Become a world-class power system supplier by 2030.

2 tracks: traditional power + new energy power, that is, traditional power: continue development, professional and applicable; new energy power: proactively embrace, open cooperation.

3 guidelines: complete, new, and strong. Complete means complete products, complete markets, and complete customers; expand traditional power application fields and advance into medium-speed and low-speed engines as well as power using multiple fuels such as natural gas, hydrogen, ammonia, and methanol. New means fully enter the new energy power field, from low carbon to zero carbon, make efforts in hybrid power, fill in pure electric drive, and develop hydrogen power, becoming an industry-leading new energy power system supplier. Strong means strengthen sub-markets, strengthen strategic alliance cooperation with leading customers in the industry, and become the main supporting power for mainstream customers in important sub-markets.

5-power guarantee: R&D power + manufacturing power + marketing power + service power + brand power, that is, gather advantageous resources, collaborate upstream and downstream to improve the "five powers," carry out synchronous development, synchronous production, and synchronous promotion, and help customers succeed with the best products and services.

Through the implementation of the scale-doubling project and the 1235 strategy, Yuchai has formed alliances with the world's best strategic partners to create the most optimized ecosystem, the most harmonious circle of friends, and the most open circle of cooperation in the unpredictable market environment, ultimately achieving the goal of becoming a world-class power system supplier.

Scientific and technological innovation is always the strongest driving force for enterprise development. In the face of ever-changing market competition and industry pressure, Yuchai has always adhered to self-reliance and self-strengthening in science and technology, winning market discourse power with independently innovative products.

The 15 brand-new power products released that day, including the Yuchai YCK16N high-horsepower gas engine, the YC6CAXM methanol engine, and high-power range-extended power, cover the two tracks of traditional power and new energy power and can be matched to multiple sub-fields such as commercial vehicles, engineering machinery, agricultural equipment, and power generation equipment. The products maintain leading advantages in indicators such as power performance, reliability, and economy, and will create tangible value for users.

Among them, the YCK16N high-horsepower gas power is the pinnacle of Yuchai's heavy-duty gas engines, with a maximum power of 660 hp and a peak torque of 3,000 N·m, strong power, and fast response; gas consumption per 100 km is 1-2 kg lower than competing products of the same displacement; and the B10 life can reach 1.8 million km, with reliability far ahead in the industry. The YCK15 China VI diesel engine is China's first mass-produced 700-horsepower-class engine with thermal efficiency exceeding 50%. The YCS07 China VI diesel engine is the industry's lightest and most fuel-efficient 7L engine. The YCK12L China VI diesel engine is the smallest and lightest 12-liter diesel engine in the entire industry. The YC12VTD off-road China IV diesel engine leads the industry in indicators such as displacement, power, and torque, and is the preferred supporting power for 10-150-ton electric wheel mining trucks, 1000-1600-type oil fracturing trucks, and rail locomotives. The YCK16-400kW intelligent hybrid system improves oil-to-electricity conversion efficiency by 20% and volumetric power density by 14%, reaching an internationally advanced level, and can be widely used in fields such as mining vehicles, silage machines, cotton pickers, air compressors, drilling rigs, and tractors. The YC16VCN is China's first high-speed gas power generation engine suitable for 2 MW generator sets and can be applied in fields such as oil extraction, natural gas extraction, coal mining, biogas engineering, livestock and poultry breeding, and waste treatment. The YC8CAXN is China's first marine pure natural gas engine with a single-unit power exceeding 1,200 kW, suitable for 4,000-5,000-ton inland river transport ships and container ships. It is tailor-made to promote the green development of inland river shipping and responds to the national "dual carbon" strategy with practical actions.

At the event site, nearly 100 new complete vehicle models jointly launched with vehicle customers were exhibited together.