SHIG drives global growth with advanced tech and strong international partnerships. [Photo/Readmeok]

Shandong Heavy Industry Group (SHIG), a leading multinational in the global industrial equipment sector, delivered robust growth in 2024, with overseas revenue rising 2 percent year-on-year to 109 billion yuan (about $15 billion) and total profits surging 31 percent to 4.58 billion yuan. These results underscore the group's resilience and focus on high-quality development despite a challenging global environment.

Founded in 2009, SHIG has pursued a dual strategy of industrial operations and capital investment, acquiring world-class brands such as Linde, Dematic, Ferretti and Baudouin. Through integration, it has set a benchmark for Chinese enterprises in overseas mergers, fostering deep industrial cooperation between China, Italy, France and Germany. 

Overseas operations now account one-third of the group's total revenue, and it has made global synergy and market expansion strategic priorities, strengthening its industrial chain and advancing a model where domestic and international markets reinforce each other.

This strategy is yielding results. Its subsidiary Weichai Group has equipped Ferretti's flagship yachts — including the F580 and INFYNITO 90 — with tailor-made marine engines and silent generator sets. Weichai Group has also completed a full-chain layout in new-energy powertrains, from batteries and motors to controllers, enabling large-scale applications in heavy trucks, construction machinery, and forklifts. KION Group, another SHIG subsidiary, is working closely with Weichai Group on new-energy forklift technology.

"China's commitment to high-quality development aligns perfectly with KION's strategy," said Rob Smith, CEO of KION. Recently, KION upgraded its Asia-Pacific Automation Centre of Excellence in Xiamen, Fujian province, to boost smart logistics capabilities, while Ferretti opened a regional office in Hong Kong to expand yacht sales in East Asia, Southeast Asia, and Australia.

Momentum remains strong: in the first half of this year, KION's new orders jumped 22.2 percent, Ferretti's order book hit a record 1.77 billion euros ($2.06 billion), and other subsidiaries, including Baudouin and PSI, posted notable gains.