Yuchai ranks eighth among China's top 100 machinery manufacturers in 2011

On May 25, the China Machinery Industry Federation (CMIF) and the China Association of Automobile Manufacturers (CAAM) released the list of China's top 100 machinery manufacturers and the list of China's top 100 automakers in 2011 in Dafeng, Jiangsu Province. As a result, Yuchai Group ranked eighth among the top 100 machinery manufacturers, a place up from the previous ninth, remaining the leader among Guangxi's enterprises.

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In 2011, Yuchai continued building its advantages in the engine chain and the construction machinery chain, thereby driving the development of mechanical sectors including parts and special vehicles, constantly expanding corporate scale, and extending its product range from high-speed engines to small & medium-speed engines, from small-duty excavators to large & medium-duty excavators, and from earthwork machinery to piling machinery. Yuchai reached out from Guangxi to a dozen provinces and municipalities including Guangdong, Fujian, Jiangsu, Anhui and Sichuan. Besides, Yuchai constantly improved its capacity for independent innovation, and duly transformed its innovation achievements into productive forces, thus turning out outstanding, cutting-edge, applicable and leading products, and maintaining two-digit growth in fierce market competition.

Wang Ruixiang, president of the CMIF, addressed the press conference, noting 2011 is the opening year of the "twelfth five-year" period. In the face of difficulties and challenges such as increasing domestic and overseas environmental constraints and the complex and volatile situation, under the guidance of the Party's policies, with a focus on implementing the "twelfth five-year" industrial plan, machinery workers made concerted efforts to push forward the implementation of the restructuring and revitalization plan for the auto industry and manufacturing, thus achieving remarkable results. Firstly, the total scale of the industry remained ahead in the world. By late 2011, there had been 70,700 above-scale machinery manufacturers with 17.52 million workers. The total assets and the total output value of the industry had soared from 1.96 trillion yuan and 1.44 trillion yuan in 2000 to 12.23 trillion yuan and 16.89 trillion yuan in 2011, registering an average annual growth of over 25 percent. Secondly, restructuring produced positive effects and industrial distribution was further optimized. Corporate annexations and reorganization were stepped up, and industrial concentration was enhanced significantly. Thirdly, the capacity for independent innovation was improved and the mechanism of endogenous growth was formed progressively. Lastly, the level of opening up was raised constantly and the international status was enhanced significantly. After years' exploration, the machinery industry has quickened the pace to "go out" alongside "bringing in", and has shifted its attention from hardware purchase to integration and utilization of software resources including intellectual property.

Cai Weici, executive vice president of CMIF, analyzed and predicted the economic operation of the machinery industry. The production scale and economic benefit of China's top 100 machinery manufacturers was brought to a new level in 2011, he said. The enterprises achieved total primary business revenues of 1.5403 trillion yuan and a total profit of 102.4 billion yuan, up 18.56 percent and 8.70 percent year on year. China's top 30 automakers posted total primary business revenues of 2.7401 trillion yuan and a total profit of 245.448 billion yuan, up 11.84 percent and 9.55 percent year on year.

According to Cai, the growth of major economic indicators of the machinery industry slowed down significantly in 2011, but the performance of the top 100 machinery manufacturers shows superior enterprises maintained good momentum whether in aggregate or in growth. Primary business revenues of 87 of the top 100 grew by different margins, and 59 achieved two-digit growth. Summaries show a low proportion of large-sized enterprises and their employees in machinery and auto industries, but the proportion of their primary business revenues and profits to the industry is much higher; large-sized machinery manufacturers and automakers rose in an accelerated manner, and industrial concentration was further increased; currently, large-sized machinery manufacturers are growing steadily. Prominently, the number of super-large enterprises with primary business revenues of over 10 billion yuan each was soaring from three in 2003 to 67 in 2011.

The scale of China's machinery industry has led the world, with its domestic and overseas market share on the increase. China has ranked first in auto production and output for three consecutive years. The threshold of making the list of the top 100 machinery manufacturers and the list of the top 30 automakers has become increasingly high. However, efforts should be made to accelerate economic restructuring and transformation to solve problems for Chinese enterprises during growing strong, Cai added.

The scale of China's machinery industry has led the world, with its domestic and overseas market share on the increase. China has ranked first in auto production and output for three consecutive years. The threshold of making the list of the top 100 machinery manufacturers and the list of the top 30 automakers has become increasingly high. However, efforts should be made to accelerate economic restructuring and transformation to solve problems for Chinese enterprises during growing strong, Cai added.

According to sources, the event of information release of China's top 100 machinery manufacturers and top 30 automakers has been held for eight years on an annual basis, and has become a branded event with extensive social influence and great demonstrative effects. Under the principles of fairness and equality, the rankings of China's top 100 machinery manufacturers and top 30 automakers in 2011 were worked out on the basis of their primary business revenues in 2011 and in reference with two indicators--total profit and employees, with the exclusion of loss-making enterprises. According to CMIF, collecting and releasing annual information reports of large-sized machinery manufacturers and automakers is aimed to reflect Chinese equipment manufacturers' history of constantly sharpening comprehensive competitiveness, help all walks of life evaluate and predict the developments and prospects of China's machinery and auto industries, enhance the society's recognition of large and medium-sized machinery manufacturers and automakers, and facilitate strength comparison with similar large-sized foreign enterprises.

(Li Chunmei)