Weichai Power Co., Ltd. (hereinafter referred to as “Weichai Power” or “Company”) issued its audited annual results announcement for the year ended December 31, 2013. According to the announcement, in 2013, Weichai Power achieved an operating income of RMB 58.312 billion, an increase of 21.07% compared to the same period in 2012; the net profit attributable to shareholders of listed companies was RMB 3.571 billion, an increase of 19.38% year-on-year; basic earnings per share were RMB 1.79 Yuan, a year-on-year increase of 19.33%.

In 2013, the company always adhered to the “two-wheel drive” operation strategy of product management and capital operation, continuously improved its core competitiveness, and successfully built a powertrain (engine, transmission, axle) and complete vehicle. The coordinated development of hydraulic control and the four major industrial sectors of auto electronics and parts and components has formed the most complete and competitive industrial chain in the automotive industry in China. It has the core technology and products of the construction machinery industry and has developed into China's overall strength. One of the strongest automotive and equipment manufacturing industry groups.

In 2013, thanks to the stabilization of the macroeconomic situation, the continued rebound in fixed asset investment, and the rapid development of the logistics industry, the heavy-duty truck industry recovered and accumulated 774,100 units for the year, a year-on-year increase of 21.7%. Affected by the substantial increase in sales volume in the domestic heavy truck market, the company sold a total of 280,000 heavy truck engines, an increase of 34.9% year-on-year, and an associated market share of 36.2%, up 3.6 percentage points year-on-year, maintaining a clear lead in the industry.

With the growth and recovery of the country’s fixed asset investment, the construction machinery industry has stabilized and rebounded. The construction machinery industry in China sold 705,000 units, an increase of 3.9% year-on-year. Among them, the sales of 5 tons of loaders were 111,000 units, an increase of 7.4% year-on-year. Based on its product advantages, the company sold a total of 72,500 5-ton loader engines, a year-on-year increase of 15.9%. The market share of the 5-ton loader reached 65.33%, continuing to maintain its leading position in this field.

The passenger car segment, influenced by factors such as the mild recovery of the macro economy, the acceleration of urbanization, and the overall downward shift in the price of the light passenger market, has steadily increased the passenger bus market in China. Although the market situation as a whole is good, due to the existence of such factors as the limited number of long-distance passenger transportation lines and the diversion of high-speed railway trains, the sales volume of 12-meter large passenger vehicles has dropped sharply, affecting the company’s supporting volume of 10 liters of diesel engines. Affected by this, the company sold a total of 21,000 passenger car engines for the year, a year-on-year decrease of 6.3%. The market share of large and medium-sized passenger cars was 12.3%, a decrease of 0.9 percentage points from the same period last year.

In the transmission business, Shaanxi Fast Gear Co., Ltd., a subsidiary of Weichai Power Holding Co., Ltd., sold a total of 565,700 gearboxes, a year-on-year increase of 25.2%, and further consolidated its leading position in the industry. Fast's 12-16 gear transmissions accounted for a significant increase in sales from 33.5% in 2012 to 40.9% in 2013, leading the industry to continue to grow in multiple positions.

In the heavy-duty vehicle and axle business, Shaanxi Weichai Power Holding Co., Ltd. Shaanxi Heavy-duty Truck Co., Ltd. sold a total of 85,800 complete vehicles in the year, representing a year-on-year increase of 6.6%, ranking fifth in the domestic heavy truck industry; Hande Axle accelerated the development of new products. , Optimized product mix, sales of 339,700 roots, an increase of 22.8%.

In 2013, sales of Weichai products improved. The company sold 88,800 sets of 12L engines, a year-on-year rise of 59.6%, accounting for 22.8% of total sales in 2012, up from 18.1% in 2012, leading the industry to upgrade to high-power and high horsepower; sales of 12-16-speed gearboxes 23.11 Million units, accounting for the proportion of total sales increased significantly from 33.5% in 2012 to 40.9% in 2013, leading the industry to continue to multi-position development; sales of new generation M3000 heavy trucks 11,700 units, an increase of 67%, leading the technology of heavy trucks upgrade.

At the same time, Weichai’s new product promotion has gradually exerted its force, continued to adjust its product structure, and achieved major breakthroughs in the new product market. The company's self-developed blue-engine WP5/7 engine with intellectual property rights exceeded 10,000 units, an increase of 39.8% year-on-year; the localization of the M26 engine was successfully completed, and 152 units were sold throughout the year.

Shaanxi Heavy Gas sold 10,800 heavy truck natural gas vehicles, an increase of 67.3% year-on-year, and continued to maintain the sales volume of the natural gas heavy truck industry. The products won the 2013 China Automotive and Components Industry Development Innovation - Green Environmental Protection Award.

The production and sales of fast all-aluminum lightweight transmission exceeded 100,000 units; the production and sales of 6DS bus transmission exceeded 20,000 units; the series and parallel hydraulic retarders were successfully developed and launched into the market in small batches.

In 2013, R&D achievements as a strategic support continued to emerge. Compared with the State III engine, the company's State IV engine has improved fuel economy, effectively reduced PM emissions by more than 80%, and emitted nitrogen oxides by more than 35%. The performance and reliability have been fully verified by the market.

At present, the company has completed the development of the National V engine; the company independently designed and developed the Euro 6 ECU to achieve engine control, active regeneration control of the DPF and SCR closed-loop control, and successfully passed the mid-term inspection of the 863 project expert group. The WP7 engine was the first to pass the British VCA Euro 6 Heavy Duty Diesel Engine Bench Standard and OBD certification.

The company's independent electronic control unit WISE15 has passed the national IV emission standard certification and OBD certification, which lays the foundation for the matching application of domestically-made autonomous electronic control units; this certification completes 8 models of WP10 diesel engine 2 family families, and the follow-up will complete the autonomous ECU in the company. Full range of engines certified.

In addition, the "key technology and industrialization of heavy-duty high-speed diesel engines" project won the second prize of national scientific and technological progress, breaking the monopoly of foreign technology; "National Commercial Vehicle Power System Assembly Engineering Technology Research Center" successfully passed the examination and acceptance of the Ministry of Science and Technology for our country. The development of commercial vehicle powertrain assembly provides a good platform.

In terms of post-market business development, the number of remanufactured engine sales was 11.2 million units, an increase of 28.1% year-on-year. 137 old machine recycling centers were established, 190 old machine appraisers were trained, and 19 models were included in the pilot catalog of auto parts remanufacturing; The production of gearboxes can produce 10,000 units of production capacity, and all performance indicators are up to the standards for new factory inspections.

At the same time, the company increased the construction of store specialization stores, altogether 613 were recommended, 550 were approved, and 230 officially accepted and operated.

In terms of aftermarket services, we have developed intelligent systems such as Vehicular Connect, Vehicle Linked I, and Smart Multi-Star to realize visualization, intelligence, and information integration in the entire service.

In respect of overseas market expansion, the company continued to improve its global network, with 243 overseas service stations and 30 offices, and an international marketing and service network covering the world. Fast has independently exported 9,211 transmissions, an increase of 29.1% over the same period last year. Yangchai's engine exports were 8,459 units, an increase of 30 times year-on-year.

In addition, the company continues to explore overseas manufacturing localization models such as acquisitions, independent plant construction, license manufacturing, and other models.

Weichai has achieved an advanced layout in the new energy industry. Through the National Science and Technology Support Program "Development of Parallel Hybrid Power Systems for Commercial Vehicles and Construction Machinery", the "Engine-Motor-AMT" hybrid powertrain was successfully developed; HCU and TCU's core technologies are independently developed, signifying that the company has mastered The core technology of the hybrid powertrain system.

In September 2013, the new energy sanitation vehicles and bulldozers passed the third-party acceptance by the state, and all the performances reached the relevant indicators, laying the foundation for the industrialization of new energy powertrains.

In 2013, Weichai integrated its resources to help Kai-Oon sail again. On June 28, 2013, KION was successfully listed on the Frankfurt Stock Exchange in Germany. The company increased its holdings to reach 30% of its total share capital after listing.

As of March 28, 2014, KIONGroupAG shares closed at 33.9 euros, a 43.04% increase from July 2, 2013 closing price. Through a series of resource integration, the company helped KIONGroup AG achieve a new start.

Looking forward to 2014, opportunities and challenges will coexist. Looking at the world, the world economy will continue its slow recovery. It is estimated that the annual GDP will increase by about 3.7%. The developed countries will become the main force for global economic growth again; the company will build on its products to further create three core competitions: cost, technology and quality. "Strength", and constantly enhance the competitive advantage of enterprises.

The heavy truck market is expected to maintain its upward trend in 2014, mainly due to the following reasons: First, the urbanization process is accelerating, and investment in urban infrastructure, rail transportation, and high-speed rail construction will increase, which will continue to drive demand for heavy trucks; second, the management of yellow-label vehicles. The intensification and forced scrapping of such policies will further stimulate the sales of heavy trucks. Third, the heavy truck industry will enter a new round of scrapping and renewal periods, as well as favorable factors such as the rapid development of the logistics industry, which will further boost demand for heavy trucks.

The construction machinery industry is expected to continue its moderate recovery in 2014. With the steady progress of the resolutions of the Third Plenary Session of the 18th CPC Central Committee and the Central Economic Work Conference, domestic high-speed railways, highways, railways, urban rail transit, and municipal construction have continued to provide favorable opportunities for the recovery of the construction machinery market.

At present, although the specific implementation time of national national IV emission standards has not yet been clarified, many places have officially started implementation. With advanced technical strength, large-scale, high-quality product manufacturing, global resources, synergistic advantages, and solid and loyal customer base, the company has taken the lead in the upgrading of the National IV, in the high-power engine, heavy-duty transmission, heavy truck vehicle market Will continue to maintain its leading position.

Tan Xuguang, Chairman and Chief Executive Officer of Weichai Power stated: "The company will further establish a global development thinking, and gradually follow the principle of 'strategic unification, independent operation, and resource sharing' to rationalize the management mechanism of overseas companies and realize internationalization. Mergers and acquisitions have shifted from multinational operations to co-ordinate domestic and overseas market development and internationalization needs, and accelerated the coordinated development of the entire vehicle's entire vehicle segment, powertrain segment, hydraulic control segment and auto parts segment, giving full play to domestic and foreign companies. Its brand, technology, resources, management, and other synergies, continue to enhance the quality of corporate development, and enhance the company's overall ability to resist risks."

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