Jiefang Power was awarded as an excellent enterprise for the development of the "465" modern industrial cluster in Wuxi City
On February 27th, the Wuxi Municipal Conference on Promoting the Construction of New Industrialization and the Development of Industrial Science and Technology Innovation Heights was held. Du Xiaogang, Secretary of the Municipal Party Committee, Zhao Jianjun, Mayor, Xiang Xuelong, Chairman of the Municipal Political Consultative Conference, and Lu Zhijian, Deputy Secretary and Secretary General of the Municipal Party Committee, attended the meeting.
At the meeting, Jiefang Power was awarded the title of Excellent Enterprise in the Development of Wuxi's "465" Modern Industrial Cluster and was commended. Du Xiaogang presented medals to the business unit, and Dong Yazhou, Secretary of the Party Committee of FAW Jiefang Powertrain Business Unit, attended the meeting and received the award.
The FAW Jiefang Powertrain Division was established by integrating the former FAW Jiefang Engine Division and FAW Jiefang Transmission Division, and is an important business unit of China FAW Commercial Vehicle Industry. Our business is located in Wuxi, Changchun, and Dalian, with headquarters in Wuxi and over 8800 employees. Our products include three major assemblies: engines, transmissions, and axles, as well as brake components. In 2023, the business unit seized opportunities, met challenges, and strived to win the first battle. The sales of engines, transmissions, and axles increased by 34%, 62%, and 90% respectively throughout the year, with a total revenue growth of 19% and a significant increase in profits. The total asset turnover rate and accounts receivable turnover rate ranked first in the industry, while the asset liability ratio was the lowest in the industry.
In the future, Jiefang Power will always maintain an enterprising attitude, adhere to its entrepreneurial aspirations, strive to explore new horizons, and be committed to becoming the "first in China and world-class" provider of intelligent power domain solutions. We will continue to strengthen, expand, and optimize Jiefang Power Assembly's independent business, and make new and greater contributions to the high-quality development of Wuxi!