Sudden! Sany Heavy Industry Co.Ltd(600031) Xiang Wenbo replaced Liang Wengen as chairman and responded

On January 19, Sany Heavy Industry Co.Ltd(600031) issued an announcement on the change of command, which aroused great concern in the capital market.

According to the announcement, Liang Wengen resigned from Sany Heavy Industry Co.Ltd(600031) chairman and special committee of the board of directors, elected Xiang Wenbo and Yu Hongfu as chairman and vice chairman of the company respectively, and appointed Yu Hongfu as president of the company

source: company announcement

In response to the personnel change, Sany Heavy Industry Co.Ltd(600031) the relevant person in charge said in an exclusive interview with the reporter of China Securities Journal that the change was mainly due to the consideration of the company’s strategic development and the improvement of professional managers. The official also said that at the meeting this morning, Liang Wengen said that he would still pay a high degree of participation and attention to the development of Sany Heavy Industry Co.Ltd(600031) .

the company exclusively responded to the change of command

On January 19, the relevant person in charge of Sany Heavy Industry Co.Ltd(600031) told the China Securities Journal: “considering that everyone will pay more attention to this matter, we also wrote in detail in the announcement, mainly for the consideration of the company’s strategic development and the improvement of professional managers.”

According to the person in charge, Sany Heavy Industry Co.Ltd(600031) will hold a meeting at the end or beginning of each year to discuss a series of strategic issues such as the company’s future development direction. This year’s discussion is more about internationalization, digitization and electrification strategies. In addition, the company has some new business considerations.

“These strategic issues will determine the long-term development direction of Sany Heavy Industry Co.Ltd(600031) in the future. Liang Wengen still hopes to devote more energy to the strategic development of the company. Originally, as chairman, he would have a lot of daily work to deal with. Now he hopes to focus on the strategic development direction of the company.” The official said.

The official said that in the Sany Heavy Industry Co.Ltd(600031) meeting held this year, talent construction is a major topic. “The development mechanism of the company’s professional managers also matches the strategy. How to build and cultivate talents? What should the company’s talents do if they want to match the company’s future strategy? Considering these problems, the focus of our meeting is to improve the development mechanism of professional managers.”

The official said that through this personnel change, the company’s professional manager mechanism has been better improved, which is conducive to improving the level of corporate governance. “We can see that only a few people have changed, but behind the announcement is related to the development of a series of cadre teams and key positions. Capable people go up to better positions, which greatly motivate the talents of the company.”

The person in charge said: “take Yu Hongfu as an example. After he becomes the president and vice chairman of the company, new young cadres will take over his original key posts, and the whole talent mechanism and channel will move smoothly.”

In addition, the person in charge of Sany Heavy Industry Co.Ltd(600031) said that Liang Wengen presided over the meeting of the board of directors. At the meeting, he stressed that although he no longer served as the chairman of Sany Heavy Industry Co.Ltd(600031) , he was still the director and actual controller of Sany Heavy Industry Co.Ltd(600031) . He will highly participate in and pay attention to the development of Sany Heavy Industry Co.Ltd(600031) . “His energy investment in Sany will not be reduced, but he will focus more on the strategic level.”

remarkable achievements in internationalization strategy

In recent years, Sany Heavy Industry Co.Ltd(600031) has focused on the core strategy of internationalization, focused on key breakthroughs in overseas markets and promoted overseas business to a higher level. According to the data, from 2011 to 2020, Sany Heavy Industry Co.Ltd(600031) excavator exports achieved a compound annual growth rate of 30%.

In the first 11 months of 2021, Sany Heavy Industry Co.Ltd(600031) excavators sold more than 20000 units overseas, and the cumulative overseas sales exceeded 10 billion yuan. Both data set a new record in China’s construction machinery industry.

Since 2021, Sany Heavy Industry Co.Ltd(600031) excavator has firmly occupied the position of “first market share” in 15 countries and regions such as Indonesia and Thailand; Sany excavators performed equally well in European and American developed countries and regional markets, with an increase of more than 500% in the UK, Canada, Australia, New Zealand, Italy and other markets.

According to the company’s 2021 semi annual report, in the first half of 2021, Sany Heavy Industry Co.Ltd(600031) international sales revenue reached 12.444 billion yuan, a year-on-year increase of 94.69%.

In addition, in terms of electrification, Sany Heavy Industry Co.Ltd(600031) actively layout the new energy strategy based on the super technology window period of the third energy revolution.

According to the relevant person in charge of Sany Heavy Industry Co.Ltd(600031) , the company has long had a layout in terms of motorized construction machinery and is currently at the leading level in the industry. In October 2021, Sany Heavy Industry Co.Ltd(600031) 1000 electric mixers were successfully signed, setting the record of the largest single electric product signing in China’s industry. At present, Sany Heavy Industry Co.Ltd(600031) electric mixer, dump truck, tractor and other products have been promoted and tried in more than 20 cities such as Zhengzhou and Nanyang, with a cumulative order of more than 2000 units.

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