REVIEW OF A SUCCESSFUL YEAR 2023 FOR THE WEIQIAO GROUP

Düsseldorf, 19.02.2024

At the annual general meeting, CEO Bo Zhang reported on the achievements and developments of the Weiqiao Group in the past year 2023. The following excerpts provide an overview of important highlights.

  1. Focus on High Technology, Digitalization, and Environmental Friendliness. This led to increased investments in corresponding projects, accelerated digital transformation, and further optimized the industrial structure.
  • In November 2023, the major project for a high-pressure die-casting plant entered the production phase. From the start of construction to successful commissioning, only ten months passed.
  • Production capacity in Yunnan was continuously expanded, resulting in a significant improvement in the company’s green industrial strategy. New energy projects were actively promoted, with preliminary work already underway for the second phase of photovoltaic projects and the third phase of wind energy projects.
  1. Entry into the NEV (New Energy Vehicle) and High-Quality Production Industry

Weiqiao established the headquarters for the development of New Energy Vehicles (NEVs) in China, which are equipped with alternative drives and are not conventional internal combustion engines, and is now officially engaged in the New Energy Vehicle industry. The automotive sector of the Weiqiao Group currently comprises three companies and six production sites, all possessing qualifications and production capacities for passenger cars and commercial vehicles. This promoted the application and construction of lightweight components, laying the foundation for the company’s transformation and modernization to produce high-quality equipment.

  1. Successful Market Development and Sales

The subsidiary Hongtuo actively tapped into the market for the sale of alumina, resulting in significant increases in both alumina and aluminum hydroxide sales.

  1. Breakthroughs in Technological Innovation

Weiqiao continues to heavily invest in research and development and strengthen cooperation between industry, science, and research.

  1. Significant Achievements in Efficiency Improvement and Cost Reduction

All subsidiaries actively implement comprehensive benchmark management to improve productivity and facility utilization, achieving significant success in 2023.

  1. Solid Progress in International Cooperation
  • The group positively responded to the “Belt and Road” initiative and accelerated cooperation on international projects. Production companies in Indonesia and Africa were efficiently and properly carried out.
  • WEIQIAO Germany GmbH and the WEIQIAO European Technology Innovation Center played a crucial role in realizing breakthroughs in core technology and promoting talent in research and development.
  1. Corporate Responsibility and Social Engagement
  • The Shiping Charity Foundation (Weiqiao) successfully collaborated with the China Children’s Education Foundation and participated in the school sponsorship program, benefiting more than 30,000 children and adolescents.
  • Weiqiao is committed to educational projects with universities.
    https://weiqiaogermany.de/en/weiqiao-is-committed-to-educational-project/
  • The Yunnan Weiqiao project has created jobs for nearly 5,000 local workers, thus avoiding the problem of young people having to go out to work and the resulting dilemma of left-behind children and elderly people.
  • After the earthquake in Gansu, Weiqiao immediately collected relief supplies worth 8 million yuan to assist in earthquake relief efforts.
About WEIQIAO Germany GmbH:

WEIQIAO Germany GmbH is a European subsidiary and European headquarters of the Chinese Shandong Weiqiao Pioneering Group. The group includes three listed companies, two of which are listed in Hong Kong, 12 domestic and overseas production sites and over 100,000 employees worldwide. The group covers the complete value chain of the textile and aluminum industry.