Sany Heavy Industry first changed the chairman of the board of directors xiang Wenbo to take over the baton Liang Wengen

Construction machinery leader Sany Heavy Industry current personnel changes, the founder of the company Liang Wengen resigned as chairman, by Xiang Wenbo to take over.

On the evening of January 19, Sany Heavy Industry (600031. SH) issued an announcement on the personnel change, saying that the company's board of directors agreed to Liang Wengen's resignation as chairman and special committee of the board of directors, elected Xiang Wenbo and Yu Hongfu as the chairman and vice chairman of the company respectively, and hired Yu Hongfu as the president of the company.

Liang Wengen, 65, is the main founder of the Trinity series. As early as 2003, before the listing of Sany Heavy Industry, Liang Wengen had served as the chairman of the company for a long time, and Sany Heavy Industry was still on the front line. Sany Heavy Industry said in the announcement that at present, the business of Sany system is booming, in order to seize the opportunity of industry development and change, reduce daily work affairs, further improve the level of corporate governance, and improve the company's professional manager development mechanism, Liang Wengen hopes to invest more energy in the future strategic transformation of Sany.

Xiang Wenbo, who took over as chairman of Sany Heavy Industry, was born in 1962 and graduated from Hunan University in 1982. Xiang Wenbo is one of the elders of the Sany series, entered the Sany department in 1991, successively in charge of production, marketing business, etc., and was awarded the "Forbes" 2010 China Best CEO, 2011 A-share non-state-owned listed company best CEO.

Yu Hongfu was also born in 1962, it is reported that he has more than 30 years of experience in the machinery industry, and joined Sany Heavy Industry in 2006.

Sany Heavy Industry financial report shows that in the first three quarters of 2021, the company achieved operating income of 87.718 billion yuan, an increase of 20.34% year-on-year; net profit attributable to the mother was 12.567 billion yuan, basically flat, of which the third quarter performance fell year-on-year, Sany Heavy Industry said that mainly due to the weakening of domestic downstream demand, last year's super compensation rebound high base, the company's revenue growth rate declined, the product structure changed; at the same time, the company continued to promote the digital, international, electrification strategy, increased talent and R & D investment.

The development of Sany has continued to receive attention from the local government. At the fifth session of the 13th People's Congress of Hunan Province held on January 17, Mao Weiming, governor of Hunan Province, mentioned that "Sany Heavy Industry is expected to enter the world's top 500."

Sany Group behind Sany Heavy Industry was founded in 1989, the main business is "engineering" as the theme of equipment manufacturing, of which excavation machinery, piling machinery, etc. are China's mainstream brands; concrete machinery is a global brand, the group's business has covered more than 100 countries and regions around the world. As the actual controller of Sany Group, Leung was named the richest man in mainland China in 2011.

Shell financial reporters paid attention to the resignation of Liang Zaizhong, the son of Liang Wengen, as a director of Sany Heavy Industry in November 2021. Born in 1984, Liang joined Sany in 2006 after graduating from the University of Warwick in the United Kingdom, and joined the board of directors of Sany Heavy Industry in 2010. Liang is also the Chairman of Tree Root Interconnection Technology Co., Ltd. ("Tree Root Interconnect"), an Industrial Internet of Things cloud platform solution provider, and holds a stake in the company. In March 2021, the Guangzhou Regulatory Bureau of the China Securities Regulatory Commission (CSRC) announced that Treegen Interconnection had registered for counseling at the Guangdong Securities Regulatory Bureau. Some reports speculate that Liang Zaizhong resigned as a director of Sany Heavy Industry or was related to the planning of a listing of Tree Root Interconnection.

In recent years, Sany series has continued to transform. At the beginning of 2016, Sany Group held an enlarged meeting of the board of directors and put forward the strategy of enterprise transformation, locking the transformation in the three major industries of equipment manufacturing, new energy and financial investment, as well as the two major platforms of industrial Internet and real estate.

As a key target for the development of Sany in the field of new energy in recent years, wind power enterprise Sany Heavy Energy submitted an application for listing on the Science and Technology Innovation Board in 2021, and successfully passed the meeting in September of the same year.

People close to Sany Group told Shell Financial Reporter that after stepping down as chairman of Sany Heavy Industry, Liang Wengen may focus on the "three modernizations" transformation of Sany Group's digitalization, internationalization and electrification, rather than focusing on wind power or a sub-business in a certain sub-sector. Shell financial reporter learned that Liang Wengen had previously proposed the digital transformation goal during the "14th Five-Year Plan" period of March 1, to achieve 300 billion sales, 3,000 industrial workers, and 30,000 engineers.

Beijing News Shell financial reporter Zhu Yueyi Editor Song Yuting Proofreader Liu Baoqing

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