Gu tangsheng, President of the hottest Yuchai grou

2022-09-22
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Gu tangsheng, President of Yuchai group: be cautious about overseas mergers and acquisitions

Gu tangsheng, President of Yuchai group: be cautious about overseas mergers and acquisitions

China Construction machinery information

Guide: Gu tangsheng, President of Yuchai group, said in an exclusive interview recently that Yuchai predicted an average annual compound growth rate of 22% and 23% in the next five years, and the overall growth rate in the next five years is 2.5 times quot; At this speed, to quote; The 12th Five Year Plan quot; At the end of the period, Yuchai will complete the quota; Create a Yuchai quot; Our goal is to step into the ranks of 100 billion yuan enterprises

Gu tangsheng, President of Yuchai group, said in an exclusive interview recently that Yuchai predicted an average annual compound growth rate of 22% and 23% in the next five years, The overall growth rate in the next five years is 2.5 times. "At this rate, Yuchai will complete" rebuilding Yuchai by the end of the 12th Five Year Plan "The goal is to step into the ranks of enterprises with an annual turnover of 100 billion yuan.

although the goal is high, Yuchai group still maintains a relatively cautious attitude. Gu tangsheng said that it should be treated with caution with regard to the merger and acquisition plan in the European debt crisis.

the biggest support of local governments is not to intervene.

from a reform through labor farm 60 years ago to a large state-owned enterprise with an annual turnover of 40 billion yuan now, if you want to use a few keywords to summarize Yuchai's 60 years Gu tangsheng, President of Yuchai group, believes that it is "reform, innovation and win-win" Behind these six words, there is strong support from local governments. Gu tangsheng told Yi Caijing that the biggest support of the local government for Yuchai was not to intervene

"most of the time, the government's management of enterprises is really one, and unification will die. The more management, the more constraints. What is the biggest support given by the local government to Yuchai? Without these rules, without restrictions, without too much intervention, I think this is very, very difficult to get. Especially in such a remote place in the west, it can be so detached that this enterprise can develop in this way, which is very rare." Gu tangsheng said

it will increase by 2.5 times in the next five years and enter the ranks of 100 billion enterprises

in 2011, Yuchai achieved a breakthrough of 40 billion yuan in operating revenue, an increase of 8% year-on-year However, for Yuchai, a material giant, kostron, which put two new high-tech production lines into operation in its production base in Shanghai on the 12th, this is only the initial speed of the starting stage. Gu tangsheng told Yi Caijing, "Yuchai predicts an average annual compound growth rate of 22% and 23% in the next five years, and the overall growth rate in the next five years is 2.5 times that of low-temperature incubation bath maintenance and operation procedures." according to this speed, by the end of the 12th Five Year Plan, Yuchai will complete the goal of "rebuilding a Yuchai" and step into the ranks of enterprises with 100 billion yuan

in order to achieve this goal, Yuchai put forward the slogan of "building two product chains and multiple industrial clusters" Gu tangsheng said that during the "Eleventh Five Year Plan" period, Yuchai has completed the layout of the industrial chain planning, and the focus of the "Twelfth Five Year Plan" is to expand the scale and improve the market share on the basis of this layout

but when the speed comes up, how to guarantee the quality? Gu tangsheng said that between the two, Yuchai pays more attention to the latter. "Yuchai is actually an enterprise that pays more attention to business quality. In fact, as long as the business quality is good, even in the future" 12th Five Year Plan "period, the whole market will have a relatively large change. We can't achieve 100 billion, so can 80 billion and 700 billion?"

and how to ensure competitiveness in new areas? Gu tangsheng believes that Yuchai's biggest competitive advantage comes from culture and mechanism

"many of our backbones in Yuchai are outsiders, and the proportion of local people is no more than half. The geographical location of Yulin is so biased that talents from other places come here, and they can settle down and devote themselves to the construction of Yuchai. The casting method can directly produce finished or semi-finished products. What is it? It is this culture."

Gu tangsheng introduced that the core of Yuchai's management mechanism is to discuss heroes based on performance and let the capable go. Many backbones are in their 40s or early 30s. In such large-scale state-owned enterprises, even in the Yangtze River Delta region with the highest degree of marketization, they are rare

be cautious in overseas mergers and acquisitions

more detection methods and experiences of European bond testing machine. We will introduce the outbreak of the crisis to customers in more detail after customers purchase the testing machine, which makes Chinese enterprises see the opportunities of overseas mergers and acquisitions and speeds up the pace of "going out"

in fact, Yuchai is one of the first Chinese enterprises to go global. It was listed on the New York Stock Exchange as early as 1994, becoming the second share of Chinese enterprises listed overseas

Gu tangsheng told that the step of going out at that time still has a very important impact on Yuchai today. First, listing financing solves the problem of capital. Second, it introduces the concept of internationalization of corporate governance

Gu tangsheng recalled that at that time, it was still a planned economic system. At that time, many technological transformation projects of Yuchai had already started without even being fully approved. They needed financial support. They reported the project to the State Planning Commission at that time and broke their legs. The result was that "your place in Yulin is not within the scope of the national planning, and the national engine planning layout is not at your point, not a penny." Forced to ask for money in the market, ask for money from foreign capital, and ask for money in the stock market and capital market

although it has tasted the sweetness of overseas capital operation 20 years ago, it has become the pioneer of Chinese enterprises' going global. However, Yuchai is still cautious about the goal of internationalization and the current popular overseas mergers and acquisitions

Gu tangsheng believes that there are many successful cases and many failed cases of overseas mergers and acquisitions of Chinese enterprises. Chinese enterprises may be able to afford it, but for Chinese enterprises, the biggest challenge lies in the integration of corporate culture

"after you merge and acquire an enterprise, you become its master. The relationship between you and him is not a simple relationship of cooperation and resource utilization, but a relationship between management and being managed. This cultural conflict, this deep-seated conflict, may be worse than your direct pursuit of cooperation."

therefore, Yuchai's "going out" strategy will focus on market and industrial layout, make a difference in market expansion first, and then gradually consider overseas acquisitions

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