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Chairman Wu Peiguo Attends the 16th China Construction Machinery Development High-level Forum and Delivers a Keynote Speech

Release time:2018-04-13 Article source: Reading times: A+ A A-

On April 12th, the 3rdmember representative meeting of the China Construction Machinery Association and the 16th China Construction Machinery Development High-level Forum with the theme of "New Era, New Ideas and New Actions" was held in Liuzhou, Guangxi. Mr.WuPeiguo, chairman of SINOMACH-HI and party secretary, attendedtheforum.

At the 16th China Construction Machinery Development High-level Forum, Chairman Wu made a keynote speech titled “The Cooperative Symbiosis, Collaborative Industry, and High Quality Development”. In his speech, he said that since the fourth quarter of 2016, the industry as a whole has picked up, and in 2017 it has made great strides. The industry has made gratifying achievements, and there have also been many changes. All companies generally achieved a good performance with the increase in sales volume and profitability across the nation. With the advancement of supply-side structural reforms, the industry’s market share has increased in concentration; and the industry’s corporate risk management has gradually improved. However, the sustainability and flourish of the industry depend on a new pattern of “cooperative symbiosis and high-quality development”.

Mr. Wu pointed out that the new era of construction machinery industry should firmly establish a new concept of high-quality development; at the same time, the high-quality development of new ideas requires new work for all enterprises. At present, the status quo of the development of the industryremains far behind the requirementsforhigh-quality development. The first is that the product quality has not yet reached the world-class level. Second, the essential competitiveness of enterprises urgently needs to be improved rapidly. Third, accounts receivable accounted for a high ratio, and business risks remained large. Fourth, the capital market has not yet recognized the industry cycle reversal. Fifth, industry initiatives still need to be effectively implemented. For this reason, in the new era, we need to vigorously promote entrepreneurship, change the current situation of self-styled, vicious competition, need to continue to play the role of industry associations, need to work together, deepen the sense of community, cooperation and symbiosis, and plan the new era of high-quality development, create a new era of the industry.

Mr. Wu emphasized that in the new era, SINOMACH will continue to adhere to the development philosophy of co-existence and continue to hold high the banner of the development of the SINOMACH engineering machinery business and become an important backbone force in the industry and lay a solid foundation for high-quality development. Focus on doing "four efforts":

Efforts are made to build the SINOMACH brand and create a world-class brand. SINOMACH-HI is the first enterprise in the SINOMACH system to use SINOMACH as its product brand. As the SINOMACH brand representing Chinese machinery, wewill continue to build the SINOMACH brand to a new driving force for sustainable development in the future, promote the development of enterprises to a higher level, and contribute to the realization and construction of the world-class brand of the construction machinery industry for the goal of “100-year-old SINOMACH”.

Efforts will be made to eliminate backward production capacity and create classic products in the subdivision field. SINOMACH-HI has been deeply implementing the supply-side structural reform measures, persisting in taking quality and efficiency as the center, and strengthening the foundation of engineering machinery and equipment manufacturing, focusing on the goal of not seeking to do BIG work but excellence. Develop positioning, gather superior resources and strengths, and focus on enhancing the core competitiveness of leading products.

Efforts will be made to innovate business models and implement the "go globally" strategy. SINOMACH-HI closely focused on emerging businesses such as engineering trade business and service business that extend from equipment manufacturing. Based on engineering equipment, it has formed a development model of “promoting engineering equipment by engineering projects and vice versa.” We are exploring the new model and road for the development of the industry.

Efforts will be made to build a "symbiotic" culture and share development achievements with the industry. Since the reorganization of SINOMACH-HI, we have focused on cultural integration and formed a path of “integration with industry, cooperation with SINOMACH, win-win cooperation with customers, and sharing with employees”. Symbiotic cultural system. In the future, in the process of promoting high-quality development,As the Central-state-run Enterprise, SINOMACH-HI will work hard and is willing to join hands with industry colleagues. We welcome everyone to jointly build and share the high-end platform of SINOMACH-HI. Together, we make progress and due contributions!

Finally, Mr. Wu pointed out that "All the colorful blossoms are the works of the spring." The new era belongs to every enterprise. Each enterprise is a witness, pioneer and builder of the new era. SINOMACH-HI will always keep in mind the development mission of "Equip the world and Create Value"; adhere to the business philosophy of "Integrity oriented Quality foremost, Mechanism centered, and Applicable then Success". Riding on the east wind of a new era and sailing for a long time.we will make our contribution to China’s construction machinery industry to realize the dream of “Equip theWorld”as soon as possible!

At the meeting, Mr. Wu as the vice president of the China Construction Machinery Association, submitted the proposal of the General Assembly on behalf of the Council and participated in the Fifth Session of the Standing Committee.

SINOMACH-HI won"China International Construction Machinery Innovation Products and Recommended Products Platinum Award" of BICES 2017.

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China SINOMACH Heavy Industry Corporation, incepted in January 2011, is a wholly-owned subsidiary of China National Machinery Industry Corporation (SINOMACH Group) which is listed as one of the World's Top 500 Enterprises. Headquartered in Beijing, China

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