New thinking will drive Yuchai's new development

On February 26, 2006, Yuchai Machinery experienced a significant milestone. The company held its 2006 strategic release and marketing service conference in Yulin, Guangxi, marking the official introduction of Junping as the new chairman. During the event, Yuchai unveiled its 10-year development strategy and showcased its first domestically developed Euro IV diesel engine, the YC6L-40, which boasted independent intellectual property rights. This groundbreaking model was presented to Beijing Public Transport Holdings (Group) Co., Ltd., symbolizing Yuchai’s commitment to providing green power for society and supporting the goals of the Beijing Olympics. Additionally, the conference celebrated the offline production of 1,000 Euro III units, signaling the mass adoption of domestic Euro III diesel engines. 2006 marked the first year of China’s "Eleventh Five-Year Plan," a critical period for industrial growth. Yuchai’s strategic initiatives during this time sent a clear message that the company was positioning itself for long-term success. With a strong focus on innovation and market expansion, Yuchai seized the opportunity to strengthen its competitive edge in the evolving industry landscape. In 2005, under the leadership of newly appointed Chairman Yuping, Yuchai underwent a transformative phase. Facing challenges from macroeconomic policies, rising oil prices, and reduced consumer credit, the company implemented a series of reforms that led to a remarkable turnaround. Through technological innovation, improved brand services, and joint marketing strategies, Yuchai achieved record production and sales figures, revitalizing the stagnant diesel engine market. Technological advancement became a core pillar of Yuchai’s success. In 2005, the company invested heavily in research and development, allocating 130 million yuan to technology development and completing 32.72 million yuan in technological upgrades. These efforts resulted in the launch of several advanced products, including Euro III-compliant engines and early models of Euro IV engines, setting new standards in energy efficiency and environmental protection. Yuchai also focused on enhancing its brand service system, introducing updated warranty policies and service commitments to meet higher customer expectations. The company expanded its service network, ensuring greater reliability and satisfaction for its clients. In the marketing arena, Yuchai collaborated closely with auto manufacturers to promote key product lines such as heavy machinery, Euro III engines, and single-fuel models. These joint strategies significantly boosted sales and strengthened Yuchai’s position in both domestic and international markets. Looking ahead, Yuchai aimed to solidify its dominance in the heavy truck market by launching the YC6M engine, which received positive feedback for its performance and efficiency. The company also continued to push forward with the development and promotion of Euro III and Euro IV engines, aligning with global environmental standards. With a vision to build a world-class "green power kingdom," Yuchai outlined a 10-year development plan focusing on expanding its industrial chain, investing in high-tech solutions, and building a strong international presence. The company aimed to become a leading multinational corporation with a broad range of power machinery and vehicle-related products. Chairman Yuping emphasized the importance of restructuring both ownership and industrial layout to support future growth. By attracting industrial and financial shareholders, refining decision-making processes, and creating a more dynamic work environment, Yuchai sought to foster talent and drive continuous innovation. As one of China’s largest internal combustion engine producers, Yuchai played a pivotal role in reshaping the industry. With a strong emphasis on independent research and development, the company was well on its way to becoming a globally recognized brand.

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