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At the verge of bankruptcy 15 years ago, Weichai revives and owns over CNY 100 billion of assets miraculously. President Tan Xuguang said in retrospect: "Innovation is imperative for enterprises. Without innovation, any enterprise shall lose its vitality."
Adhering to this idea, Weichai kept on self-innovation for 15 years. Aware of the importance of talents, Weichai introduced 65 overseas high-end talents from 2008 and invested incessantly on the development of new products. Data shows the investment tripled in 2012-2017.
Besides the whole research entity consisting of R&D center, research institute and design studio, Weichai establishes nine industrial parks in Weifang, Chongqing, Xi"an, Zhuzhou and Yangzhou. The acquisition of French MOTEURS BAUDOUIN Engine Company, Italian Ferretti Yacht Company and German KION Group expanded the business of Weichai to engine, complete vehicle, spare parts and yacht.
The target of CNY 100 billion of sales income in 2012 has been achieved and Weichai plans to reach CNY 200 billion of sales income in 2015.