Sinotruk gears up for high-quality development

(| Updated : 2019-07-09

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Chinese workers at the auto plant of China National Heavy Duty Truck Group Corp in Jinan Industrial Park in Jinan, East China's Shandong province. [Photo provided to]

One of China's top heavy vehicle manufacturers, China National Heavy Duty Truck Group – Sinotruk – has made great improvements in its high-quality development, according to a news conference held on July 5.

Sinotruk held the conference to review the strong results it has achieved at the time of the 70th anniversary of the founding of the People's Republic of China. The company also wanted to signal its ambitions to further expand its high-quality development.

Sinotruk's total revenue for the first half of the current year hit 63.5 billion yuan ($9.2 billion), up 3.3 percent year-on-year and total profit rose 24.8 percent to 3.53 billion yuan during the same period.

Senior executives said that through successful restructuring costs were reduced by 2.6 billion yuan year-on-year, a decrease of 14.5 percent.

Tan Xuguang, president of Sinotruk, noted that the group had achieved initial success with its reforms.

He said that the company is exiting non-core businesses including real estate, property management, hospitals and kindergartens. The reform of the company's sales and technical departments will be completed in July, he added.

The group has also paid much more attention to research and development. It now has more than 3,400 patents, of which 240 are invention patents. The new-generation main line logistics tractors will be launched in the second half of next year, the company said.

The company also aims to establish a complete series of products, to optimize product structure to further adapt to the global market.