Yuxiang Tang, the general manager of Yutong Bus. It was he who planned and implemented the MBO (Management Buyout) of Yutong Bus, which once again sparked a高潮of MBOs domestically. This time, Yutong Bus was the sole bus brand to be awarded the contract to enter Jiangsu's LNG group vehicle market. As one of China's major economic provinces, Jiangsu has drawn nationwide attention and its economy has continued to develop steadily. In fact, Jiangsu is also a province with high energy consumption, revealing the contradiction between economic development and environmental protection within Jiangsu. The construction and commissioning of Tianqi Group's receiving station project has significant implications for resolving energy supply and demand issues as well as ensuring sustainable environmental development. With the promotion of gas-powered buses across the province by Tianqi Group, it will undoubtedly provide strong support to Jiangsu’s energy supply chain. The recognition received by Yutong's LNG buses this time mainly stems from the transport company considering two key highlights: safety and cost-effectiveness.
The Yutong LNG buses purchased by Zhenjiang Tianqi Group are based on several years of research and development stemming from Yutong Group’s best-selling passenger buses. Safety measures have been meticulously addressed, with critical components such as electronic-controlled pressure regulators all being imported brands. Additionally, each imported component undergoes strict quality inspections to ensure the highest standards of raw materials, thus guaranteeing every step in production to achieve top-quality Yutong buses. This purchase of Yutong LNG group vehicles by Zhenjiang Tianqi Transport signifies that Yutong Bus leads other domestic brands and has begun entering Jiangsu's LNG group vehicle market.
The successful implementation of Yutong Bus's MBO transformed a small enterprise into one of the world's top 500 companies and led Yutong Bus towards brilliance. Over the years, the unique advantages presented by Yutong Bus's MBO have become evident, including their recent entry into Tianqi Group.
Under the leadership and continuous innovation of President Tang Yuxiang, Yutong Bus's MBO has proven to be successful. Since implementing the MBO reform, Yutong Bus's performance has gradually improved. To date, Yutong Bus's share in the competitive market continues to grow. Nowadays, Yutong Bus is continuously developing towards emerging industries, including the recent research and development of gas-powered buses and the construction of an energy-saving and new energy project base that began in July this year. If this project proceeds smoothly, it will bring nearly ten million units of energy-saving and new energy buses to Yutong.
Yutong Bus, always regarded as a representative of the bus industry, has a dedicated R&D department that analyzes different markets and times to develop models that meet various needs and cater to market demands. Whether it is regular diesel buses, gas-powered buses, or future new energy vehicles, these all demonstrate Yutong's thorough understanding of industry trends and accurate grasp of market opportunities.
Every successful example of Yutong Bus is not coincidental but rather inevitable. Tang Yuxiang once said, "I'd rather do extraordinary things than say extraordinary words." He indeed practices what he preaches. From an internal perspective of Yutong Company, after the successful implementation of the MBO, it ostensibly changed Yutong's ownership structure, but essentially, it optimized the employee management system, greatly mobilizing the enthusiasm of Yutong's internal employees. Ultimately, this improved Yutong's efficiency and aligned with contemporary market trends. On the large cake of market benefits, Yutong Bus quietly occupies an increasingly larger share.