On the afternoon of March 30, 2006, a significant signing ceremony took place at the Yulin Hotel Ace Hall in the Yulin Economic Development Zone. The event marked a strategic collaboration between Yuchai Group and Chongqing Bonnet Industrial Group Co., Ltd. The ceremony was hosted by Deputy Mayor Huang Mingfu, while Liu Shengfu, Deputy Secretary of the Yulin Municipal Party Committee, delivered a speech addressing the importance of the partnership. Representatives from various municipal government departments, leaders of the Yulin Economic Development Zone, and executives from both Yuchai Group and Chongqing Bonnet Industrial Group were in attendance.
Guangxi Yuchai Bonnet Electric Co., Ltd., established as a joint venture between Yuchai Group and Chongqing Bonnet Industrial Group, is a manufacturing company focused on producing automobile generators and related electrical components. The project, which received a total investment of RMB 120 million, is located within the Yulin Economic Development Zone. Its primary products support Yuchai’s wide range of diesel engines. In addition to meeting internal demands, the company plans to supply its products to other automotive and engine manufacturers, as well as to the wholesale market. Once fully operational, the facility is expected to produce 800,000 units annually, generating sales revenue of 800 million yuan and contributing 96 million yuan in profits and taxes. This development is anticipated to significantly boost the growth of the Yulin Machinery Industrial Cluster.
During the event, Lu Hua, Secretary of the Work Committee of the Yulin Economic Development Zone, Liu Shiquan, Chairman of Chongqing Bonnet Industrial Group, and Liu Shengfu, Deputy Secretary of the Yulin Municipal Committee, all gave speeches highlighting the significance of the collaboration. Yu Ping, Chairman of Yuchai Group, emphasized that this partnership symbolizes Yuchai’s effort to integrate industrial capital and build a supporting industrial chain worth RMB 25 billion as part of the 11th Five-Year Plan. He also stated that the cooperation with Chongqing Bonnet marks a key step in expanding Yuchai’s industrial reach and strengthening its position in the market. Over the next two years, Yuchai aims to complete the restructuring of its entire industry chain, striving to achieve annual sales exceeding 100 billion yuan.
At the ceremony, Yu Ping, Chairman of Yuchai Group, and Liu Shiquan, Chairman of Chongqing Bonnet Industrial Group, signed the cooperation agreement. Additionally, Chen Shangqiang, Chairman of the Yulin Economic Development Zone Management Committee, and Chen Qiuping, Chairman of Guangxi Yuchai Bonnet Electric Co., Ltd., also signed the necessary documents.
This collaboration not only highlights the growing influence of Yuchai in the automotive industry but also sets the stage for future expansion and innovation. Looking ahead, this partnership is expected to play a crucial role in shaping the industrial landscape of Yulin and beyond.
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