Established on June 11th, 2012, Shandong Heavy Industry Group Finance Co., Ltd. is a non-banking financial institution that is jointly funded by Shandong Heavy Industry Group, Weichai Power Co., Ltd., Weichai Heavy Machinery Co., Ltd. and Shantui Construction Machinery Co., Ltd. It has received approval from the China Banking Regulatory Commission, and its address is registered as No. 40-1 Yan Zi Shan Xi Road, Ji’nan, Shandong Province.
With a registered capital of RMB 1 billion and 52 employees, the company has now established a business department, a planning and financing department, a credit investment banking department, a risk compliance department, an IT department and a comprehensive management department. These departments are in charge of handling operation and management for financial affairs of all types, with a business scope that involves deposit taking, internal transfer account settlement and liquidation, entrusted loans, acceptance and discount of bills, granting loans and financial leasing, consultations regarding financial affairs and funds and related agent services for member units, insurance agency business, provision of assurance for member units and also inter-bank lending services.
Future goals of the Company: To provide comprehensive, professional and customized financial services to member units and become a superior comprehensive financial service provider while supporting the Group in becoming the world’s leading equipment manufacturer on the basis of relying on and serving the Group and also focusing on intensive capital management.
Corporate Culture
I. Core cultural concepts: responsibility, communication, and inclusion
1. Responsibility: uncompromising mission and eternal passion
Responsibility is the realm and awareness of undertaking. Closely bound up with the mission, it serves as both the prerequisite for an individual or organization doing a good job and the spiritual strength for conquering difficulties and achieving success.
Since Shandong Heavy Industry Group holds an important position in the industry and in society, it has certain responsibilities towards customers, shareholders and employees as well as towards the country, the people and the society. Responsibility brings forth motivation and success, and fulfilling ones duties; brings on a sense of happiness. For the Group’s employees, work means responsibility, and responsibility means completing their work perfectly.
2. Communication: “Sincere exchange and cohesiveness for success”
Communication is crucial for the entire Group. It is the prerequisite and the basis for developing strong cohesiveness in a company, and it is a solution for conflicts and differences. Communication sparks innovation and ideas, and it also allows different cultures to blend and give rise to new cultures.
Communication is a company’s lifeline. The purpose of communication is to unify goals, coordinate development, and wholeheartedly work towards realizing the Group’s goal of entering the ranks of the world’s top 500 companies. Every great enterprise requires sincere communication. Only when we can communicate well with others, can we receive their kindness.
3. Inclusion: Learning from others and striving for harmony
The world is a big and diverse place, and to become a globally leading company, the acceptance of different cultures is crucial.
Inclusion means keeping an open mind that embraces all cultures, learns from them and absorbs their best aspects. It reflects the culture’s inclusiveness and absorption. Inclusion means seeking common ground while accepting existing differences, respecting individuality and expanding commonalities. It is a strategy of achieving harmony through unification and cooperation. In reality, this reflects a company’s high cultural awareness and confidence. Within Shandong Heavy Industry Group, inclusion is a management style and a common language.
Sticking closely by the principles of strengthening responsibility, attentively communicating and inclusive cooperation, the Group gives priority to responsibility and considers it to be a stepping-stone. Responsibility is manifested in every work post, every detail and also in daily work. Communication is a style, while inclusion is an attitude. The three elements of responsibility, communication, and inclusion combine with and complement each other, in the process forming the cultural core of Shandong Heavy Industry Group.
II. Five “dos and don’ts” of leadership at Shandong Heavy Industry Group
During Shandong Heavy Industry Group’s annual work meeting that was held on February 25th, 2010, Xuguang Tan, the chairman of the board, announced the five “dos and don’ts” to the Group’s leadership:
1) To be united and righteous, never creating conflict 2) To work with enthusiasm, never allowing self stagnation to occur 3) To be engaged and dedicated, never indulging in exaggerations 4) To persist in innovation, never being conservative and rigid 5) To be honest and disciplined, never seeking selfish interest.
III. Strategic Targets
Strategic targets of Shandong Heavy Industry Groupis to strive to become a sustainable equipment manufacturing group with world advanced core technology, and to enter the ranks of the world’s top 500 companies.