In recent years, Shandong Heavy Industry Group has pooled the strength of the entire group to vigorously support the development of overseas markets and the enhancement of its international brand in areas such as R&D, production, marketing, and service. While its products occupy high shares in fields including marine engines, power generation equipment, commercial vehicles, and construction machinery, they have grown into mid-to-high-end international brands competing on the same stage as mainstream European and American brands. Export revenue has achieved consecutive growth of over 50% for three years running, reaching 97.7 billion yuan in 2024, up 14% year on year, with major products all posting substantial growth in export sales. As the entire group coordinates systematically and comprehensively overseas, Shandong Heavy Industry's path of going global with high-end, branded, and industrialized offerings is growing ever broader.

Outstanding results and high-end transformation expand new international markets

In international markets, Shandong Heavy Industry has bucked the trend, with heavy truck exports steady and rising. In 2024, heavy truck exports reached 193,000 units, accounting for 63% of China's total heavy truck industry exports, with Sinotruk firmly holding the No. 1 position in industry exports. Leveraging outstanding quality and advanced technology, Sinotruk has rapidly increased the share of high-end product exports, which now exceeds 40%, and the brand's value has won high recognition in international markets.

▲In September 2024, at the IAA Transportation show in Hanover, Germany, Sinotruk's Yellow River hydrogen internal combustion engine tractor-trailer drew frequent stops from overseas customers.

At the 2024 South Africa Mining and Power Exhibition held in September 2024, Shantui presented a number of star products. With a powerful, advanced, and reliable equipment lineup, it showcased to the international market its technological accumulation and innovation achievements in the construction machinery field. Shantui leads the market and drives change, restructuring marketing channels, business models, and service systems. In 2024, export revenue reached 7.5 billion yuan, up 28% year on year. Its integrated construction solutions achieve optimal product combinations, the lowest cost per cubic meter, and digital management empowerment, shining with technological brilliance and demonstrating brand strength on the global stage.

▲In September 2024, at the South Africa Mining Exhibition, Shantui sales staff introduce products to customers.

In October 2024, 186 Zhongtong buses were delivered in batches to Armenia. The vehicles included gas-powered buses and dual-source trolleybuses, bringing new momentum to the green transformation and development of local public transport. This marked the second collaboration between Zhongtong Bus and Armenia's public transport sector following the delivery of a major order of 211 units in 2021, further validating the unique appeal of the Zhongtong brand widely recognized by overseas users and setting a "new model" for the development of the global public transport industry. This firm choice in the international market is full recognition of Shandong Heavy Industry's bus segment and helped Shandong Heavy Industry achieve a 61.3% year-on-year increase in bus exports in 2024.

▲In October 2024, 186 Zhongtong buses were delivered in batches to Yerevan, the capital of Armenia.

Weichai has seized global market opportunities by continuously improving its global market network and channel layout, innovating sales models, leveraging intra-group synergies, accelerating the overseas launch of high-end products, and providing differentiated solutions to global customers. Its leading advantages have been continuously consolidated, and its global brand influence has been comprehensively enhanced. In 2024, Weichai's data center power generation products achieved strategic breakthroughs in high-end markets such as Europe, the United States, and Southeast Asia, with export revenue growing nearly sixfold year on year.

▲In October 2024, Weichai Baudouin 20M55 generator sets were showcased at the 2024 Asian Data Center Exhibition in Singapore.

To forge iron, one must be strong oneself; steel is made only after a thousand blows. Behind the impressive achievements of Shandong Heavy Industry's products going global is a substantial enhancement of product competitiveness. The increase in "quantity" and the upgrade in "quality" complement each other. Accelerating the transition toward high technological content and high brand value and continuously providing world-class product solutions to global customers is Shandong Heavy Industry's successful path and strong confidence in leveraging hardcore products to unlock the global high-end market.

High-profile appearances demonstrate strength and build a powerful brand matrix

Brand is the key that opens the door to the market and a powerful talisman that keeps enterprises invincible in fierce market competition. Within the Shandong Heavy Industry family, Weichai, Sinotruk, Shantui, Lovol, Zhongtong, as well as Germany's KION and Italy's Ferretti, are all strong and well-known brands in their respective fields, occupying pivotal positions in the global industry.

Starting in 2023, Shandong Heavy Industry has held three global partner conferences and new product showcases overseas, comprehensively demonstrating its industrial strength and bringing it closer to customers. In 2024, it held global partner conferences and product showcases and other promotional events in Mexico, France, Germany, and other places, further comprehensively showcasing the group's product portfolio and brand matrix strength to global and regional customers and enhancing global customers' brand recognition of Shandong Heavy Industry Group.

▲In September 2024, the Shandong Heavy Industry Global Mining Partner Conference and New Mining Product Showcase was held in Jakarta, Indonesia.

On August 18, 2024, the Shandong Heavy Industry Group Global Partner Conference and New Product Showcase opened at the Mexico City International Convention Center, with more than 600 partners from over 30 countries and regions attending the cooperation event. Nearly 100 core products and the latest technologies from Shandong Heavy Industry's six major business segments were exhibited, showcasing multi-scenario, personalized, and combined product solutions to customers in the Americas and fully demonstrating the hardcore strength of a major group.

▲In August 2024, the Shandong Heavy Industry Global Partner Conference and New Product Showcase was held at the Mexico City International Convention Center.

At the world's largest and most influential commercial vehicle exhibition—the 2024 IAA Transportation in Hanover, Germany—Shandong Heavy Industry's subsidiaries, including Weichai Group, Sinotruk, Shacman, Fast, Hande Axle, Zhongtong Bus, and Asiastar Bus, presented the latest green and intelligent products across the entire chain. Strong technological strength and relentless innovation have enabled Shandong Heavy Industry to continue leading industry development and provide global customers with cleaner, more efficient, smarter, and more comfortable outstanding products.

Shandong Heavy Industry continues to inject resources and expand business synergies, striving to build a multi-domain product portfolio and a first-class brand matrix. With customer satisfaction as its purpose and the principle of "creating value for customers through synergy," it brings more opportunities and opens infinite possibilities for global partners and customers.

Since December 2024, Weichai, Sinotruk, Zhongtong Bus, Shantui, and Weichai Lovol have successively held their 2025 Global Supply Chain Strategic Partner Conferences. Centered on the themes of "Never slacken, always lead, always strive for first" and "WE ARE ONE—one family, one heart, work together, succeed together," they invited global strategic suppliers such as Bosch, ZF, and CATL to participate, further consolidating highly trusting, closely collaborative, and mutually beneficial partnerships with global suppliers and striving to build an industry-leading supply chain ecosystem.

Man Shengang, Party Secretary and Chairman of Shandong Heavy Industry Group, stated that looking to the future, Shandong Heavy Industry will firmly build a world-class high-end equipment multinational group with leading technology and green development, accelerate strategic transformation in new energy, digital intelligence, and the aftermarket, jointly turn the industrial chain into a chain of cooperation, innovation, green development, and mutual benefit, and grow together, share success, and win the future together with global partners.

Resonating in unison and acting in integrated coordination to comprehensively enhance service

Only by walking on both legs of "product + service" can a company "go global" and, at the same time, "go in" faster and better. To date, Shandong Heavy Industry has nearly 300 overseas offices and more than 1,200 marketing channels worldwide, has established 36 trading platform companies in 25 countries, and has 46 overseas factories (including KD plants) globally. It has achieved overseas localized assembly and manufacturing in 31 countries, with nearly 2,000 employees stationed overseas, and its subsidiaries have established a network system spanning the globe.

Strengthening the weak with the strong, leading the small with the large, and combined sales are the powerful advantages of Shandong Heavy Industry going global as a group. It fully leverages the overseas channel network advantages of Sinotruk, Weichai, and others to promote the sharing of overseas channel agents and strategic customer resources with Shantui, Zhongtong Bus, Weichai Lovol, and other companies. At present, the group has more than 1,200 overseas channels, of which 297 are shared channels, synergistically driving rapid volume growth in the group's buses, construction machinery, agricultural equipment, and other businesses.

At present, Zhongtong Bus has achieved full coverage of four major product segments in the UAE: tourism, commuting, public transport, and school buses. In 2023 and 2024, it ranked first in market share among Chinese brands in the UAE for two consecutive years. In 2024, Zhongtong Bus's market share among Chinese brands exceeded 50%, with customer satisfaction and market reputation continuously improving.

▲Zhongtong buses delivered in the UAE

Zhongtong Bus's achievements in the UAE would not have been possible without resource sharing and market collaboration with the group's Weichai Power and Sinotruk. Since formally entering the UAE market on a large scale in 2019, Zhongtong Bus had a relatively weak local market foundation. Starting in 2023, Zhongtong Bus strengthened market coordination with Sinotruk and, leveraging Sinotruk's well-established local channels, gained mastery and coverage of market information and strategic customers.

At the same time, Zhongtong Bus gradually strengthened deep cooperation with Weichai Power. The two sides jointly surveyed and visited customers, jointly developed products, optimized product performance, improved product structure, and carried out in-depth product adaptability improvements. In terms of service support, they achieved coordinated consistency. At present, 80% of Zhongtong Bus's products in the UAE are equipped with Weichai Power engines.

Shandong Heavy Industry has also invested in and established operation centers in Dubai, Singapore, and other places, and regional operation centers in Central Asia, South America, Africa, and other regions are also being planned and prepared. At Shandong Heavy Industry's semi-annual economic operation meeting, Man Shengang stated that the company should leverage the group's overseas market advantages, build better systems, allocate better resources, and optimize channels to lay a solid foundation for rapid and sustainable growth. It will fully advance the adjustment of its overseas strategic layout, accelerate the shift from a trade-oriented mindset to a global mindset, promote the optimization and restructuring of the product export business model, organizational structure, and management system, focus on overseas strategic markets, and comprehensively advance deep localization integrating products, manufacturing, parts, service, finance, and brand as a "six-in-one" whole.

In the future, this unified service platform for major groups and major regions will integrate after-sales service, parts, logistics, training, and financial support. Shandong Heavy Industry will further build a comprehensive global market service support system and truly grow into a high-end equipment multinational group rooted in the global market.