On Feb 4, leaders from across the globe gathered in Weifang, China, for the fifth Shandong Heavy Industry Group - Weichai Power Global CEO Conference, an event that drew 58 C-suite and other top management executives from Shandong Heavy Industry Group's operations across 14 countries and regions. The meeting provided a platform for these international leaders, together with their counterparts from the Shandong Heavy Industry Group's domestic brands, to chart the future direction of the conglomerate and explore strategies for achieving cohesive growth across the world's industries.

Tan Xuguang, chairman of both Shandong Heavy Industry Group and Weichai Power, chaired the event and gave a keynote speech entitled "Earning Respect of Global Customers through Strength." In his remarks, Tan reflected on the Shandong Heavy Industry Group's impressive journey over the past 20 years, a period characterized by its global expansion through strategic reorganizations and the integration of diverse corporate cultures, leading to effective collaboration and shared successes among its varied business sectors. "The aspiration to create a world-class corporation and ensure the well-being of our 150,000 employees globally is the dream that binds us together," Tan declared.  

In a strategic move that set the stage for substantial sector-wide transformation, Weichai Power's acquisition of Zhuzhou Torch Spark Plug in 2005 marked the beginning of Shandong Heavy Industry Group's pivotal journey towards global industrial integration and development. Originally specializing in engine manufacturing, Shandong Heavy Industry Group swiftly evolved, raising the bar with the introduction of the world's first gold-standard powertrain assembly. This evolution catalyzed expansion into diverse sectors, including commercial vehicles, agricultural machinery, construction equipment, smart logistics, and marine transportation gear. The deliberate diversification has not only fortified Shandong Heavy Industry Group's standing as a vanguard in the industrial equipment domain but also cemented its stature as a leading multinational conglomerate in China with a formidable international footprint. The Shandong Heavy Industry Group's annual operating revenue has soared to $72 billion, with its transnational index serving as a testament to its global reach, at 48.57 percent.

Shandong Heavy Industry Group has been at the forefront of fostering collaboration, systematically broadening its alliance of strategic brands. The conglomerate's portfolio now includes recognized names such as Weichai Power, China National Heavy Duty Truck, Shaanxi Heavy Duty Automobile, Weichai Lovol Intelligent Agricultural Technology, Shantui Construction Machinery Co., Ltd., and Zhongtong Bus. Beyond domestic achievements, Shandong Heavy Industry Group boasts significant holdings in notable global firms such as Italy's Ferretti, Germany's KION Group and Linde Hydraulics, the Dematic and PSI in the United States, and France's Moteurs Baudouin. With technological innovation centers established in over 10 countries, Shandong Heavy Industry Group delivers product and service solutions across more than 150 countries and regions. The company leads the global market in heavy engines, heavy-duty transmissions, and heavy trucks sales, while its industrial forklifts and luxury yachts are celebrated as top-tier international brands. In 2023, it reported an unprecedented 33 percent year-on-year surge in operating revenue and a doubling in profits, marking the most successful financial performance in its history.

Looking to the future, Tan underscored the critical importance of assembling an elite cadre of CEOs to elevate the organization to global prominence. He advocated for a comprehensive transformation in what it means to serve as a CEO, urging them to become technologically adept entrepreneurs who also embody the roles of visionary thinkers, skilled engineers, persistent performers, and cultural envoys. By adopting a global outlook, strategic orientation, and systematic approach, these leaders are tasked with generating greater value for customers and positioning the firm as a globally-respected powerhouse in the industrial equipment sector, Tan elaborated.