On April 14, Shandong Heavy Industry Group held its economic performance analysis meeting for the first quarter of 2025. In the just-concluded quarter, the Group lived up to expectations, achieving dual growth in both revenue and profit, with profit increasing at a higher rate than revenue. Its operational efficiency outperformed industry standards, and its profitability remained the highest among provincial state-owned enterprises, marking a strong start to the year.

Against the backdrop of an increasingly complex international landscape, how did Shandong Heavy Industry Group achieve such hard-won and substantial results?

New Energy Transition Unleashes Fresh Momentum

On March 28, Shandong Heavy Industry Group's subsidiary Weichai Group hosted its "New Quality, New Power—Electrifying the Future" new energy strategy conference in Yantai. Amid industry anticipation, the first battery product rolled off the production line at the Weichai FinDreams (Yantai) New Energy Power Industrial Park.

The blade is drawn, its edge just beginning to show.

At the conference, Man Shengang, Party Secretary and Chairman of Shandong Heavy Industry Group, stated that the Group is accelerating its new energy strategic transformation. It is building a comprehensive new energy industrial chain spanning commercial vehicles, construction machinery, agricultural equipment, industrial forklifts, and power systems, demonstrating leading competitive advantages, robust growth momentum, and vast development potential.

At this pivotal moment when Shandong Heavy Industry Group is vigorously advancing its "12345" development strategy and accelerating its new energy transformation, the completion and operation of Phase I of the Weichai FinDreams Yantai Industrial Park marked a new starting point for the Group's strategic shift toward new energy.

While rapidly expanding its new energy power systems, Shandong Heavy Industry Group is also making aggressive strides in the new energy commercial vehicle market.

In Q1 this year, the Group's new energy heavy-duty trucks surged ahead in the commercial vehicle electrification race with remarkable momentum. Sinotruk introduced a series of technologically advanced, higher-quality products tailored to customer usage scenarios. The quarter saw Shandong Heavy Industry Group's new energy heavy-duty truck sales soar 212% year-on-year, with light-duty trucks up 60%, significantly widening its market share lead.

On April 7, two core construction machinery brands under Shandong Heavy Industry Group, Shantui and Lovol Heavy Industry, made a stunning appearance at Bauma 2025 alongside Weichai's German hydraulic transmission LHY. Centered around "intelligent, green, international, and premium" themes, they dazzled attendees with cutting-edge products and innovative technologies. Shantui's independently developed new energy products, including pure electric bulldozers and loaders, have achieved mass production, serving diverse sectors like earthmoving, road construction, and mining equipment. Recently, the company delivered its first batch of SE1000EV electric excavators to northwest mining regions, injecting fresh vitality into the construction machinery industry's intelligent operations and green transformation.

Amid the vigorous spring winds, the new momentum from Shandong Heavy Industry Group's energy transformation continues to grow stronger.

Digital Intelligence Empowers a Smart New Chapter

At this critical juncture of industrial transformation, driving innovation and deepening the integration between the physical and digital economies has become essential for corporate growth. Shandong Heavy Industry Group remains unwavering in advancing its digital-intelligent transformation, fully strengthening this new engine for future development.

In January this year, four Shandong Heavy Industry subsidiaries—Weichai Power, Shantui, Fast, and HanDe Axle—were selected for China's first batch of national-level exemplary smart factories by the Ministry of Industry and Information Technology.

The Group is comprehensively developing industry-leading solutions for intelligent driving, smart construction, precision agriculture, and intelligent logistics through deep integration of digital technologies and big data models into premium products.

In fields like vehicle networking and intelligent driving, Sinotruk has developed award-winning technologies including domain control integration systems, intelligent control platforms, and ADA-M mid-to-high level autonomous driving solutions. The company's unmanned electric container trucks and intelligent mining trucks have seen growing pilot applications in specific scenarios. Sinotruk maintains the top market share for autonomous port trucks in China's harbors, collaborating with Ningbo Port to establish a "Chinese benchmark" for global smart port transformation.

During spring plowing season, Weichai Lovol is revolutionizing traditional farming methods with its "smart brain" system. By leveraging AI models, the company has integrated field data with AI decision-making, smart agricultural machinery operations, and field management, establishing China's first end-to-end smart agriculture ecosystem with fully connected data chains.

At a national highway construction site in Hebi, Henan, Shantui's intelligent construction equipment, including bulldozers, single-drum rollers, and motor graders, demonstrated remarkable performance. Unlike conventional machinery, these advanced systems feature smart control technology that monitors real-time construction data and automatically adjusts operational parameters for precision and efficiency.

Through comprehensive digital-intelligent transformation and AI empowerment, Shandong Heavy Industry Group continues to strengthen its technological moat while creating a compelling case study for the transformation and upgrading of China's manufacturing sector.

Technological Advancement Leads Industry Premiumization

Technological innovation serves as both the core element for sustaining high-quality development and the enduring source of enterprise growth. Adhering to technology leadership and innovation-driven strategies, Shandong Heavy Industry Group has consolidated its dominant businesses while accumulating formidable "new momentum" for industry leadership.

On February 25, Weichai Power achieved another milestone. The 800,000th gas engine rolled off the production line, coinciding with the robust market launch of its next-generation WP16NG4.0 gas engine in Chengdu. With increasingly shortened iteration cycles accelerating from 1.0 to 4.0 versions, Weichai now commands over 60% of the gas engine market, firmly maintaining its dominant position.

From March 21 to 23, Sinotruk made a striking appearance as an official partner at the F1 Chinese Grand Prix, showcasing two specially designed Sitrak-edition heavy trucks that demonstrated China's rich truck culture and boundless innovation to the world.

Weichai Lovol Smart Agriculture independently developed an 18kg/s feeding capacity wheeled combine harvester, breaking the long-standing foreign monopoly on large grain combine harvesters. This breakthrough solved key technological bottlenecks, elevating China's high-capacity grain combine harvesters to internationally advanced levels.

Recently at the Middle East Energy exhibition, Shandong Heavy Industry Group's Weichai Baudouin unveiled its premium power generation series, launching the 6M31 diesel generator and 20M61 land-based diesel genset—the world's first 5MW high-speed diesel generator set, a true powerhouse. At Weichai's Binhai Industrial Park, the factory testing of Weichai's 12M55-2000kW containerized high-voltage generator set (Project A) concluded successfully. This marked another reliability validation following the product's 242-hour full-load test in open configuration during 2024, setting new industry standards for data center startup testing.

The concentrated launch of high-tech products has enabled Shandong Heavy Industry Group to achieve continuous breakthroughs in premium markets and high-value-added product segments: In Q1 this year, Weichai's data center generator sales surged 425% year-on-year.

By driving product upgrades through technological innovation, Shandong Heavy Industry Group has built differentiated competitive advantages, offering what others lack, excelling where others compete, and specializing where others excel. This strategic approach effectively mitigates risks, demonstrating the confidence and composure to "remain unfazed amid turbulent waves."

Forging a Global Premium Brand

Across the globe, Shandong Heavy Industry Group's "manufacturing corps" is making sweeping gains in international markets with breakthrough products and innovative technologies. Since the beginning of this year, the Group's subsidiaries have aggressively expanded overseas presence, continuously growing market share and setting new records for major contracts, delivering tangible results that reinforce confidence in high-quality development.

From February 23 to 25, Man Shengang visited Saudi Arabia to attend the "Zhongtong Bus & Abu Sarhad Group 10K-Vehicle Partnership Ceremony," witnessing the signing of a new round of cooperation between the two parties.

One month later, Zhongtong Bus again stunned the industry with a "royal flush" move. On March 26, the first batch shipment ceremony for 895 Zhongtong pure electric buses exported to Chile was held in Liaocheng. This marked the largest single-batch order of Chinese buses exported to Chile in recent years.

Chile, as one of South America's more developed nations, presents a highly open and fiercely competitive market that attracts bus manufacturers from across the globe, including European and American brands. Zhongtong Bus's breakthrough stems fundamentally from its robust capabilities. In recent years, the company has vigorously pursued new energy and digital-intelligent transformation, achieving industry leadership in critical areas such as energy-saving technology applications, integrated systems, powertrain matching, and vehicle control.

Zhongtong Bus is not an isolated success story. In Q1 this year, similar major orders flourished across Shandong Heavy Industry Group: Shantui secured a 100-million-yuan deal for 400+ equipment units to Kyrgyzstan; Shantui dispatched 300+ integrated road equipment units to a major project in Burkina Faso, Africa; and on March 20 evening, Sinotruk Group held its first delivery ceremony in Jinan's Zhangqiu for 500 pickup trucks exported to South America, with the initial 100 units en route to Ecuador...

This year, Shandong Heavy Industry Group's subsidiaries have leveraged key accounts and bulk orders as "pathfinders" to drive global sales and capture market dominance. In this season of renewal, Shandong Heavy Industry Group has delivered a sterling first-quarter performance, achieving a truly golden "strong start."

Against the backdrop of growing uncertainty, instability, imbalance and unpredictability in global trade, confidence proves more valuable than gold. This robust Q1 performance not only lays solid groundwork for full-year success but also boosts morale across the organization. Building on this momentum, Shandong Heavy Industry Group will accelerate its pace with greater determination, move forward, lead courageously, and aim for number one, to deliver across-the-board growth in all key performance indicators in the first half.