一汽解放:2024年年度报告(英文版)

FAW JIEFANG GROUPCO., LTD
Annual Report 2024
March 2025
Chairman’s Address
2024 marks the 75th anniversary of the founding of the
People's Republic of China and represents a critical year in the
implementation of the 14th Five-Year Plan. FAW Jiefang has
thoroughly implemented the guiding principles from the 20th
National Congress of the CPC and the Second and Third
PlenarySessions of the 20th Central Committee. Despite facing
multiple challenges including weak demand in the commercial
truck industry and profound market restructuring, our entire
workforce has confronted these difficulties head-on, persevered
through hardships, performed under pressure, and continued to
forge ahead. We have overcome numerous obstacles, achieved
remarkable results, and made breakthrough progress despite
Chairman and CPC Secretary adverse market conditions.
of FAW Jiefang
Li Sheng
Boldly confronting markets,winningin retail sectors, and reinforcingourindustry-leading
position. With extraordinary determination, exceptional measures, and remarkable effort, we
achieved annual vehicle sales of 251.1 thousand units, representing a 3.90% year-on-year increase.
Our medium and heavy truck sales reached 214 thousand units with a market share of 26.60%,
maintaining our position as China's market leader for nine consecutive years. In overseas markets,
despite downturns in keyregions, we exported 57 thousand vehicles - a 27.40% year-on-year increase
- achieving record-high sales with the industry's fastest growth rate. Our new energy vehicle segment
capitalized on market opportunities with sales of 15.9 thousand units, growing by 121% and setting
a new record with the highest growth rate among premium brands. Our brand value has reached
131.845 billion yuan, ranking first in the industry for 13 consecutive years. We've also earned the
honorary title of "National Responsibility Bearer," showcasing Jiefang's leadership as the flagship of
China's automotive industry.
Accelerating transformation, driving reform, and building lasting business strength. We
have diligently promoted and implemented the principles from the Third Plenary Session of the 20th
CPC Central Committee and conducted thorough Party discipline education. Our efforts earned
recognition from China FAW as a "Pioneer Party Building Red List Unit" and "Merit Competition
OutstandingUnit."Wehavedeeplyimplementedstate-ownedenterprisereforminitiatives,completed
the integration of manufacturing and operations, officially established Jiefang International, and
launched our "SPRINT2030" internationalization strategy. We've also revitalized our aftermarket
services and UNID operations. Our quality management systems have matured significantly, supply
chain capabilities have substantially improved, and incentive mechanisms have been further
optimized. In 2024, FAW Jiefang completed a 2-billion-yuan targeted share issuance while
maintaining an industry-leading market capitalization. We were invited to share our reform
achievements with the State-owned Assets Supervision and Administration Commission, with our
practices highlighted in the Commission's official briefings. Additionally, we received an A-level
evaluation for information disclosure from the Shenzhen Stock Exchange for the fourth consecutive
year.
Self-reliance and innovation: building core competitive advantages. We have strengthened
our technological research and development with several innovative breakthroughs: completing the
Qingdao Commercial Vehicle R&D Center on schedule; establishing the Pioneering and Leading
Lantu Joint Research Center with Shell China; unveiling the industry-first "Xingyi" hydrogen engine
and liquid hydrogen fuel cell tractor; launching production at our 6DV engine super factory;
introducing China's first in-cylinder direct injection hydrogen engine for heavy commercial vehicles;
achieving new milestones in digital transformation; receiving national awards for our V2X cloud
platform; having our J7 intelligent factory recognized among the first "Excellence-level Intelligent
Factories" bythe Ministryof Industryand InformationTechnology; launchingover 150 new products
including the J7 Pioneering and Leading Version Edition; and achieving breakthroughs in more than
100 key technologies.
Reducing logistics costs and carbon emissions: setting new standards in green
manufacturing. Guided by green development principles, we have firmly implemented our "15333"
new energy strategy and accelerated upgrades to our new energy products. We've continuously
improved fuel efficiency technologies, reducing ave