Sany Heavy Industry coaching: Xiang Wenbo is in charge of the existing business, and Liang Wengen focuses on long-term strategy

Per reporter: Wu Zepeng Per editor: Yang Xia

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

In addition, Sany Heavy Industry also said in the announcement that after his resignation, Liang Wengen will still be highly involved in and pay attention to the development of Sany Heavy Industry, and concentrate more energy on considering the company's long-term strategy and development opportunities.

Late that night, the relevant people of Sany Heavy Industry replied to the "Daily Economic News" reporter through WeChat, summarizing the company's change of coach and saying that it was the meaning of the announcement, "Liang Dong focused on long-term business and went to the general manager of existing business."

Xiang Wenbo took over as chairman

In the announcement, Sany Heavy Industry highly praised Liang Wengen's contribution to the company, saying that Liang Wengen is the founder of the company, has served as the chairman of the company for a long time, and has worked hard, fulfilled his duties and diligence during his tenure to promote the high-quality development of the company and lead the company to become a leading enterprise in the global construction machinery.

For the change of coach, the announcement of Sany Heavy Industry also made a more detailed explanation. The announcement also said 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. In addition, after his resignation, Liang Wengen is still the actual controller of Sany and will continue to serve as a director of the company.

For Xiang Wenbo and Yu Hongfu, who have risen to new positions, Sany Heavy Industry also introduced in the announcement that Xiang Wenbo has served as the president of the company for a long time, with outstanding business performance and management ability, and has been highly recognized by the company, the market and society, and has made outstanding contributions to the development of the company. Yu Hongfu has long served as the chairman of Sany Heavy Machinery, promoting the improvement of the global competitiveness of the company's excavation machinery, becoming the global sales champion, and making significant contributions to the development of Sany Heavy Machinery.

The reporter noted that the change of coach of Sany Heavy Industry also caused many investors to participate in the discussion in the stock bar, and some shareholders left a message praising Liang Wengen's professional achievements, "Bare-handed to play a world top 500 (in 2021, Sany Heavy Industry ranked among the Forbes Global 500, reporter's note), Liang Wengen is remarkable", and some shareholders are worried that Liang's resignation will become an unstable factor in the stock price.

Make every effort to implement the "three modernizations" strategy

According to Sany Heavy Industry's third quarter report in 2021, the company achieved operating income of 87.718 billion yuan in the first three quarters, an increase of 20.34% year-on-year; the net profit attributable to the shareholders of the listed company was about 12.567 billion yuan, an increase of 0.91% year-on-year. Among them, the operating income in the third quarter was 20.59 billion yuan, down 13.14% year-on-year; the net profit attributable to the shareholders of the listed company was 2.493 billion yuan, down 35.32% year-on-year.

In recent years, Sany Heavy Industry has put forward three major strategies of digitalization, electrification and internationalization.

At the end of May 2021, Sany Heavy Industry launched a new generation of intelligent excavators, and Xiang Wenbo, who was also president at the time, said that in the future, the development direction of the construction machinery industry is electrification and intelligence, and Sany Heavy Industry will also accelerate digital transformation, and the goal of the next five years is to achieve sales of 300 billion yuan.

In August 2021, Sany Heavy Industry issued an explanatory announcement on media reports, called better promotion of the internationalization strategy, Sany Group set a five-year target of 10 billion US dollars in overseas markets within 5 years.

Sany Group's official website released a news on January 18, saying that in the new year, Sany will fully implement the "three modernizations" strategy of digitalization, electrification and internationalization, live up to the expectations, and march towards the world's top 500.

At present, in addition to Sany Heavy Industry, Sany College under Sany Group is listed on the New Third Board, and Sany International is listed on the Hong Kong stock market. In addition, the IPO of the "Sany Series" enterprise Sany Heavy Energy Science and Technology Innovation Board has passed the meeting, and Shugen Interconnection has also registered for counseling and registration at the Guangdong Securities Regulatory Bureau.

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