The Shandong Heavy Industry Weichai Power Global Partner Conference will be held in Qingdao from October 17th to 19th, 2025. As the global equipment manufacturing industry focuses on Qingdao, Weichai Group, as the core enterprise of Shandong Heavy Industry Group, is showcasing the rise of Chinese power brands to the world with its outstanding performance and clear strategy. In the first three quarters of 2025, Weichai achieved a revenue of over 250 billion yuan, a year-on-year increase of 6%. Despite the complex and severe domestic and international situation, Weichai has delivered a report card of "struggling year after year, living a decent life".
Three major business growth poles drive performance takeoff
Weichai Group Chairman Ma Changhai revealed at the press conference that Weichai's growth is mainly due to the strong performance of its three strategic businesses.
Firstly, there is the "promising" large bore engine data center business. In the era of AI and artificial intelligence, the demand for backup power in data centers has surged, and Weichai has keenly seized this market opportunity. From dozens of units in 2023 to hundreds in 2024, and then to a year-on-year sales growth of 400% in the first three quarters of 2025, the large bore business has achieved a leapfrog development, providing strong support for the growth of traditional businesses.
Secondly, there is the 'New New Prosperity' of the new energy business. Weichai's layout in the field of new energy can be traced back to 2010, with advance planning for core components such as motor controllers and motors. In March 2025, Weichai New Energy Industrial Park was established and put into operation in Yantai, with an annual production capacity of 20GWh for battery PACK, finally bearing fruit from years of investment. In the first three quarters, the "three new" business of the new energy sector achieved a year-on-year growth rate of 122%, becoming an important engine of growth.
The third is the sustained development of export business. The export revenue of the engine sector in the first three quarters increased by over 30%, reaching a historical high, effectively avoiding the risk of domestic market fluctuations. Ma Changhai emphasized, "We firmly believe that our future growth point lies in exports
Weichai Large Marine Engine
Technological Independence: Behind the Breakthrough of 53% Thermal Efficiency
In the field of engine manufacturing, known as the "industrial heart", Weichai has proven the progress of Chinese manufacturing with its strength. For four consecutive years, the world's most efficient diesel engine has been released, and this number has been increased to 53%. This is not only a breakthrough in technical parameters, but also an important milestone in China's independent innovation of power equipment.
High R&D investment is the guarantee for technological breakthroughs. In 2024, Shandong Heavy Industry's R&D investment reached 13.6 billion yuan, with Weichai as the core enterprise occupying an important share. Continuous high-intensity research and development investment has enabled Weichai to establish technological advantages in both traditional power and new energy fields.
It is worth noting that Weichai's technological development path is not simply about introducing technology, but rather adhering to independent technological innovation. As Ma Changhai said, Weichai's layout of new energy began as early as 2010, "in addition to batteries, motor controllers and motors have been laid out and planned in advance. This forward-looking technological layout has laid a solid foundation for the explosion of new energy business today.
Code for Going Global: The Miracle of All Profits for Overseas Mergers and Acquisitions Enterprises
Up to now, Weichai has acquired 10 companies overseas, and all of these companies have achieved profitability - a rare achievement in global manufacturing mergers and acquisitions. Ma Changhai shared Weichai's internationalization password: synergy, localization, and concentricity.
Synergy is the primary principle of Weichai's merger and acquisition strategy. We will not engage in any business unrelated to our main business, "Ma Changhai emphasized. Mergers and acquisitions must focus on national strategies, be closely related to industries, and address technological bottlenecks. This attitude of focusing solely on the main business ensures the quality and effectiveness of mergers and acquisitions.
Localization reflects Weichai's international wisdom. Taking Baudouin, France as an example, it was one of the earliest companies acquired by Weichai. Weichai not only introduced its own culture and management model into the local area, but also increased investment in capacity expansion, winning the recognition of local employees. At the same time, Weichai is also promoting the landing of overseas technology in China, achieving "two-way localization".
Concentricity is the fusion at the cultural level. The concept of 'We are One' has been fully reflected in Weichai. We rarely mention mergers, reorganizations, and acquisitions. Instead, we focus on strategic cooperation and promoting cultural integration, "said Ma Changhai. Inviting overseas employees, unions, and management to visit China to achieve cultural identity is the foundation for the coordinated development of overseas enterprises.
New energy transformation: 15 year layout finally welcomes harvest period
Weichai's performance is remarkable in the global automotive industry's transition to new energy. Behind the 122% growth in new energy business is a 15 year sustained investment and strategic patience.
In 2010, when the concept of new energy was still avant-garde in China, Weichai had already begun to lay out its layout. This advanced layout reflects the forward-looking vision of the enterprise management. Nowadays, with the establishment of Weichai New Energy Industrial Park in Yantai, the annual capacity of 20GWh battery PACK provides a guarantee for the large-scale development of new energy business.
It is worth noting that Weichai's new energy strategy is not simply following the trend, but rather differentiated competition based on its own advantages. In the field of commercial vehicle new energy, Weichai is forging a unique technological path with its profound understanding of power systems.
New Journey of Globalization: From Product Export to Brand Output
Weichai's internationalization level has reached a considerable level, with overseas business revenue accounting for about 46% of total revenue and an internationalization index of 40.93%. This means that Weichai has grown from a local Chinese enterprise to a truly global enterprise.
More importantly, Weichai's overseas model has evolved from simple product exports to comprehensive output of technology, brand, management, and culture. Under the concept of 'We are one', Weichai is building a symbiotic and integrated industrial ecosystem on a global scale.
Ma Changhai is full of confidence in the future outlook: "By continuing to implement the three points of synergy, localization, and concentricity, overseas enterprises will definitely be able to develop better and healthier." This confidence stems from Weichai's successful path already explored, as well as its profound understanding of the global competitiveness of China's manufacturing industry.
From breakthroughs in power technology to the transformation of new energy, from product exports to global operations, Weichai Power is showcasing the rise of China's high-end equipment manufacturing industry to the world with its unique development path. In today's global economic restructuring, Weichai's story is not only the success of a company, but also a microcosm of China's manufacturing industry's transition from catching up to running and then leading.
