Written by Niu Follower
Editor / Huang Dalu
Design / Ju Jia
More than seven months later, Wu Bilei was promoted again and served as a member of the Standing Committee of the Party Committee and deputy general manager of China FAW Group Co., Ltd. (hereinafter referred to as FAW).
On June 13, 2024, Automotive Business Review learned from relevant channels that Wu Bilei, a doctor of engineering and senior engineer born in January 1970, is a member of the Standing Committee of the Party Committee and deputy general manager of FAW.
On October 31, 2023, Wu Bilei replaced Hu Hanjie (then assistant to the general manager of FAW, and now the general counsel of FAW's overseas business) and took over as chairman and secretary of the party committee of FAW Jiefang Group Co., Ltd. (hereinafter referred to as FAW Jiefang).
This is the second time in many years that FAW has promoted the group's deputy general manager from the commercial vehicle field. This also shows that "Jiefang", China's first automobile brand founded in Changchun, the cradle of new Chinese automobiles, will always be the root of FAW, and its weight and influence are very important.
It is worth noting that Wu Bilei is the fifth group leader to report from within FAW since Qiu Xiandong was promoted to chairman of FAW on August 31, 2023.
In the past 10 months, Liu Yigong has been promoted from member of the Standing Committee of the FAW Party Committee and deputy general manager to director, general manager and deputy secretary of the Party Committee of FAW, Zhou Zhiping has been promoted from member of the Standing Committee of the FAW Party Committee and deputy general manager to director, general manager and deputy secretary of the Party Committee of Dongfeng Company, and Huang Yong, secretary of the Party Committee and executive deputy general manager of FAW Toyota, has been promoted to member of the Standing Committee of the Party Committee and deputy general manager of Dongfeng Company.
The promotion and reuse of a number of senior executives shows that the central government, the State Council and the State-owned Assets Supervision and Administration Commission have affirmed and recognized FAW's reform and development achievements in recent years.
In this way, the FAW leadership team has increased from 6 to 7, namely: Qiu Xiandong, chairman and secretary of the party committee, who was promoted internally; Liu Yigong, director, general manager and deputy secretary of the party committee, was promoted internally; Wang Guoqiang, director and deputy secretary of the party committee, promoted internally; Lei Ping, member of the Standing Committee of the Party Committee and deputy general manager, is from Dongfeng Company like Qiu Xiandong, and is promoted and reused; Fang Shili, member of the Standing Committee of the Party Committee and Chief Accountant; Liang Guiyou, member of the Standing Committee of the Party Committee and deputy general manager, was promoted internally.
FAW and Jiefang took the lead
From January to April 2024, FAW sold about 990,000 units, a year-on-year increase of 7.1%, ranking second in the industry. At the same time, it is reported that FAW's sales revenue and profit are the first in the industry.
On May 7, FAW's April business work summary and May-June business target deployment meeting reported that from January to April, the company's sales volume was 986,000 units, a year-on-year increase of 7.1%; The sales volume of independent brands increased significantly, with sales of 277,000 units, a year-on-year increase of 42.5%, 31.8 percentage points higher than that of the industry, of which the sales of Hongqi brand exceeded 130,000 units, a year-on-year increase of 56.9%. Export sales grew rapidly, with sales of 37,200 units, a year-on-year increase of 72.4%, and the growth rate was 44.4 percentage points higher than that of the industry.
In May 2024, FAW Jiefang sold 10,700 medium- and heavy-duty trucks, with a terminal share of 25.6%, ranking first in the industry. Among them, the market share of tractors was 28.3%, up 1.3 percentage points year-on-year, the market share of trucks was 29.1%, up 4.2 percentage points year-on-year, and the terminal share of NG vehicles (gas vehicles) was 30.9%, up 0.6 percentage points year-on-year. In these market segments, Jiefang has maintained a leading position in terminal sales.
Beidou data shows that in May, China's medium and heavy truck market sold about 42,000 vehicles, a slight increase of 8% year-on-year. In the second quarter, heavy trucks showed a year-on-year increase and a month-on-month downward trend, and the competition in the terminal market was particularly fierce. FAW Jiefang "worked hard in 60 days to win the first half of the year", maintained the liberation spirit of "rising against the trend" and "always striving for the first", and continued to lead the domestic terminal market.
In 2023, FAW Jiefang will sell 183,000 heavy trucks, a year-on-year increase of 45%, with a market share of 20.1%, ranking second in the industry, but maintaining the record of No. 1 in sales of medium and heavy trucks, No. 1 in heavy truck sales, and No. 1 in gas heavy truck sales for seven consecutive years in 2023.
The current achievements of FAW Jiefang come from the restructuring and reform in the past four years, and Wu Bilei, who came out of the reform, is a top-notch figure.
On April 24, 2020, the former FAW Jiefang completed its restructuring and listing, and "FAW Car Co., Ltd." was officially changed to "FAW Jiefang Group Co., Ltd.", with Wu Bilei as deputy general manager.
In April 2023, he was promoted to the general manager and deputy secretary of the party committee of FAW Jiefang Group Co., Ltd., and six months later, he became the chairman and secretary of the party committee. He also served as the legal representative and chairman of FAW Jiefang New Energy Sales Company.
In the four years since its listing, FAW Jiefang has achieved a cumulative operating income of 333.6 billion yuan, a net profit of more than 7.8 billion yuan, and a market value scale that has always led the A-share commercial vehicle sector, with a stock price performance that is better than the broader market index.
In terms of China VI products, nearly 140 new products of the strain were fully launched, with new product sales accounting for more than 60%, and the share of natural gas heavy trucks reached 32.9% in April 2024, continuing to maintain a leading position in the industry.
In terms of factory layout, in 2021, the Guanghan base will officially start, and the J7 vehicle smart factory will be completed and put into operation; In 2022, the Qingdao R&D base project will officially start and will be officially completed and put into use in June 2024; In 2023, the "super factory" of Jiefang Power will be officially put into operation, and the "super power" will roll off the production line, and in September of the same year, the foundation stone of FAW Jiefang (Wuxi) R&D base will be laid, which will be put into use in March 2025.
From 2020 to 2023, the sales volume of FAW Jiefang's new energy products will be 1,900, 2,200, 2,700 and 7,200 respectively, with an average annual compound growth rate of 55.2%. At the same time, the compound growth rate of overseas sales reached 93.6% for four consecutive years, outperforming the industry market for three consecutive years.
In terms of intelligent connected products, the company carried out the test and operation of J6V L2 products, with a cumulative operating mileage of 39,000 kilometers, completed the wire-controlled commissioning of port ICV L4 products, and achieved full coverage of expressways and trunk roads in environmental sanitation operation scenarios, with a cumulative operating mileage of 160,000 kilometers.
Break out of the restructuring reform
Since joining FAW in 1992, Wu Bilei has been engaged in commercial vehicle R&D and management, and is a liberator with 32 years of work experience.
He served as Deputy Chief Engineer of FAW Technical Center and Deputy Director of FAW Jiefang Product Management Department, Vice President of Commercial Vehicle R&D Institute of FAW Technical Center and Deputy Director of FAW Jiefang Product Management Department, Vice President of Commercial Vehicle Development Institute of Jiefang Business Headquarters, Vice President of Commercial Vehicle Development Institute of Jiefang Business Headquarters and Deputy Director of Product Management Department of Jiefang Business Headquarters (Jiefang Company), President and Secretary of the Party Committee of Commercial Vehicle Development Institute of Jiefang Business Headquarters, President and Secretary of the Party Committee of Commercial Vehicle Development Institute of FAW Jiefang Automobile Co., Ltd.
In April 2020, FAW Jiefang completed its restructuring and listing, and appointed Wu Bilei as the company's deputy general manager. On November 24, 2020, Wu Bilei won the honorary title of "2020 National Model Worker".
On September 17, 2021, Wu Bilei was the general manager and deputy secretary of the Party Committee of Yiqi Jiefang Group Co., Ltd. On October 31, 2023, he was promoted to Chairman of the Board of Directors and Secretary of the Party Committee (Legal Representative) of FAW Jiefang. He also served as the legal representative and chairman of FAW Jiefang New Energy Sales Company.
Wu Bilei has served as chairman and party secretary of FAW Jiefang for more than 7 months, and the company's revenue and market share have increased.
On January 22, 2024, FAW Jiefang announced that its 2023 performance is expected to increase, and it is expected to achieve a net profit of 700 million to 800 million yuan, a year-on-year increase of 90.35%-117.54%.
In the first quarter of 2024, the veteran commercial vehicle company, which is "the No. 1 in domestic medium and heavy truck sales", achieved a total operating income of 18.981 billion yuan, a year-on-year increase of 35.21%; the net profit attributable to the parent company was 169 million yuan, a year-on-year increase of 174.00%; The non-net profit was 104 million yuan, a year-on-year turnaround, and the net cash flow from operating activities was 970 million yuan, a year-on-year decrease of 48.81%; During the reporting period, FAW Jiefang's basic earnings per share was 0.0365 yuan, and the weighted average return on equity was 0.69%. The company's gross profit margin was 6.30%, up 0.17 percentage points year-on-year, and net profit margin was 0.89%, up 0.45 percentage points year-on-year.
In terms of products, the company launched and optimized a variety of commercial vehicle products, such as J6 and J7, to promote the development of FAW in the field of new technologies in the fields of new energy and intelligent networking. On May 28, 2024, FAW Jiefang J7 Smart Factory ushered in a milestone moment, with the 10,000th vehicle officially rolling off the assembly line in 2024, exceeding 10,000 units 5 months earlier than in 2023.
In 2024, FAW Jiefang will launch the domestic high-end J7 natural gas series products, mainly based on the J7 pioneering version of the CA6SX1 tractor, leading the gas heavy truck market.
In addition, according to the characteristics of different cities, FAW Jiefang has carried out differentiated market visits, research and promotion activities, made every effort to grab customer orders, and formulated differentiated and high-standard exclusive service policies around the pain points of customers in dimensions such as "selection, purchase, use, management, repair and replacement", so as to create a warm moving service.
From January 16 to 19, 2024, Wu Bilei led General Manager Li Sheng, Deputy General Manager Ji Yizhi and Tian Haifeng, and President of Commercial Vehicle Development Institute Wang Jianyu to Henan, Shanghai, Shandong, Zhejiang, Jiangxi and other key markets to listen to market voices, study and judge the market situation, and win a good start in 2024.
On May 31, 2024, FAW Jiefang held the inaugural meeting of the Supply and Procurement Department, officially opening the reform in the field of "big manufacturing". Wu Bilei said that it is necessary to effectively solve the problem of the "last mile" of reform and implementation, and create a timely, accurate, high-quality, low-cost, and flexible delivery of a large manufacturing system.
At present, with the goal of "customer satisfaction and business success", FAW Jiefang continues to deepen the construction of process-based organizations, including the transformation of "big manufacturing", releases the efficiency of change, and accelerates towards the strategic goal of "China's first and world-class".