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On April 21st, Yuchai Group and CSR Group signed a strategic cooperation framework agreement in Chengdu. The two parties intend to establish a cooperative enterprise in Ziyang City, Sichuan Province to jointly promote the rapid development of the engine industry and strive to develop an important power equipment R&D and manufacturing base in western China with an annual sales income of more than RMB 10 billion in 3 to 5 years.
Chairman of the Board of Directors and Party Secretary of Yuchai Group Yu Ping, together with Party Secretary of China South Locomotive Group Corporation and President of China South Locomotive Co., Ltd. Zheng Changyi, signed the Strategic Cooperation Framework Agreement on behalf of both parties at the signing ceremony. They said that they will work together to achieve a sales income of more than 10 billion for three to five years and contribute to the growth and revitalization of the local industrial economy. The two sides also expressed their gratitude to Sichuan's governments and departments at all levels for creating clear conditions for the two companies to establish clear directions, form joint forces, and enhance the competitive position of the industry.
Fu Ping and Zheng Changkai sign the "Strategic Cooperation Framework Agreement" on behalf of both parties
Yuchai Group and CSR Group, as powerful large-scale enterprises, represent China's advanced technology in the automotive industry. The signing of the strategic cooperation framework agreement formed the strong cooperation between China's well-known engine R&D and rail transit equipment enterprises. This cooperation is based on the cooperation between the two sides to build the Ziyang Dazhong Xiaoli Diesel Engine project. Yuchai Group and CSR Group jointly invested in the construction of an important R&D and manufacturing base for power equipment in western China, which is conducive to complementing each other's strengths and realizing resource integration. This is of far-reaching significance.
Member of the Standing Committee of the Sichuan Provincial Party Committee and Secretary of the Provincial State-owned Assets Supervision and Administration Commission Wang Shaoxiong, Deputy Secretary of the Party Development Group of the Provincial Development and Reform Commission, Deputy Director Shih Ha, Deputy Director of the Provincial Economy and Information Committee Wu Shuguang, Deputy Director of the Provincial State-owned Assets Supervision and Administration Commission Li Jiyu, Deputy Director of Sichuan State Supervision Bureau Su Guochao, Secretary of Ziyang Municipal Committee Li Jia, Chairman of the Standing Committee of the Municipal People’s Congress, Chairman of the CPPCC Luo Xuesong, Party Secretary and Deputy Director of the Standing Committee of the Municipal People’s Congress Guo Yunfang, Deputy Director of the Standing Committee of the Municipal People’s Congress Yang Kunlun, Deputy Mayor Tian Yadong, Chief Engineer of Guangxi Yuchai Machinery Group Co., Ltd., Guangxi Li Hanyang, Chairman of Yuchai Power Machinery Co., Ltd., and Sun Xuejun, Deputy Chief Engineer of China South Locomotive Co., Ltd. attended the signing ceremony. Ziyang Municipal Party Committee Deputy Mayor Luo Qinhong presided over the meeting.
At the signing ceremony, Wu Shuguang, on behalf of the Economic and Information Committee of Sichuan Province, wished the cooperation to be successful and wished the important power equipment R&D and manufacturing base in the west of China to be completed as soon as possible. He said that Sichuan Provincial Party Committee and Provincial Government have always attached great importance to the development of equipment manufacturing and the automobile industry. Ziyang is a rapidly emerging emerging industrial city in Chengdu-Chongqing Economic Zone and one of the important layout cities for the development of Sichuan's equipment manufacturing industry and automobile industry. Guangxi Yuchai and China South Locomotive choose Ziyang to jointly build an important R&D and manufacturing base for power equipment in western China with an annual sales income of more than RMB 10 billion. It will inject new vitality and momentum into Sichuan's equipment manufacturing industry and automobile industry, and drive the province’s manufacturing. The car industry will be clustered into agglomerative development to promote the optimization and upgrading of the Sichuan equipment manufacturing industry and the development of the industrial economy. The Sichuan Economic and Information Commission will work with provincial-level related departments and Ziyang City to jointly provide strong support and comprehensive services for the organization and implementation of the two company's cooperation projects to ensure the smooth construction of the project and support the development of Guangxi Yuchai and China South Locomotive in Sichuan. Support Ziyang industrial economic development and the province's "two speed up" to make new contributions.
Li Jia represented the Ziyang municipal party committee and the municipal government to congratulate the signing of the cooperation agreement. She said that the signing of the Strategic Cooperation Framework Agreement between CSR Group and Yuchai Group is not only a big event for the two major groups to start a new chapter of cooperation, but also a major event for promoting the leapfrogging development of Ziyang Industry. We must firmly establish the concept that “environment is productivity, the environment is a safety valve, and the environment is a strategic resourceâ€, strive to create a first-class development environment for cooperation between both parties, provide quality and efficient services, and jointly promote “building an internationally competitive, domestic first-class engine manufacturing. The "base" vision is to be realized early on Ziyang land.
CSR Ziyang Locomotive Co., Ltd., CSR Meishan Vehicle Co., Ltd., CSR Chengdu Locomotive & Rolling Stock Co., Ltd., Yuchai Machinery Ziyang Engine Co., Ltd., and Guangxi Yulin Hotel Co., Ltd. are the main persons in charge, PetroChina Southwest Oil & Gas Field Company, and Provincial Coal Industry Group Co., Ltd. Ziyang Nanjun Automobile Co., Ltd., Chengdu Trump Automotive Group Co., Ltd., Dongfeng Nanchong Automobile Co., Ltd. and other related industrial chain business leaders, and Ziyang city-level related departments responsible comrades attended the signing ceremony.
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CSR Group is China's largest track traffic equipment development company. It is mainly engaged in the R&D, manufacturing, and sales of railway locomotives, passenger cars, trucks, EMUs, metro rail vehicles, and important components. It is prominent in the world's rail transit equipment manufacturing industry. The influence. Thanks to the country’s increased investment in rail transit equipment, CSR Group’s business volume continued to expand in 2009 and its profitability increased significantly. In 2009, the company realized operating revenue of 46.393 billion yuan, an increase of 29.70% over the previous year; and achieving a net profit attributable to shareholders of the parent company of 1.678 billion yuan, an increase of 21.23%.
In 2010, CSR Group will continue to maintain rapid growth and it is expected that operating income will increase by more than 25%. According to the company's development strategy and production and operation needs, it plans to allocate fixed-asset investment of 6.023 billion yuan in 2010, mainly to high-power locomotives, high-speed EMUs, metro rail transit, railway freight trains, and rail transit equipment that have a major supporting role for the company's development strategy. Proprietary technology extensions and other projects.
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