Anhui Heli Co.,Ltd. (600761.SS) Bundle
From its founding in Hefei in 1958 to its Shanghai listing as 600761 in 1996, Anhui Heli Co., Ltd. has grown into China's leading industrial-vehicle maker with a registered capital of 891 million yuan, a domestic network of over 500 sales and service outlets, more than 300 overseas agencies and product reach in over 180 countries; a vertically integrated model-R&D, manufacturing and distribution-backed by strategic alliances with Jungheinrich (2015) and ZF Group (2018), eight overseas marketing and service centers, an overseas distributor network exceeding 400, and quality controls where nearly 80% of products meet a qualification rate above 99%, all contributing to its status as China's market leader for 34 consecutive years and underpinning targets of operating revenue expected to top 20 billion yuan in 2025 with overseas revenue projected to surpass 8 billion yuan; explore the company's history, ownership, mission, operations and revenue mechanics to see how these concrete figures drive its global expansion and product strategy.
Anhui Heli Co.,Ltd. (600761.SS): Intro
Anhui Heli Co.,Ltd. (600761.SS) is a leading Chinese industrial vehicle manufacturer best known for its forklifts and material-handling equipment. Founded in Hefei, Anhui Province, the firm has evolved from a domestic producer to a global OEM and solutions provider, combining manufacturing scale with international partnerships and a growing service-leasing business.- Founded: 1958 in Hefei, Anhui Province, China.
- Shanghai Stock Exchange listing: 1996 (600761.SS).
- Export arm established: 1998 - Anhui Heli Machinery Import and Export Company.
- Regional expansion ramp-up: 2014 with centers in Europe, Southeast Asia, North America, and the Middle East.
- Strategic alliances: Jungheinrich (2015) for leasing & product cooperation; ZF Group (2018) for drivetrain technology collaboration.
- 1958-1990s: Domestic consolidation - Heli transitioned from provincial manufacturer to nationally branded industrial equipment maker, expanding product lines to include electric, diesel and gas forklifts, warehouse equipment and attachments.
- 1996: IPO on the Shanghai Stock Exchange (600761.SS) provided capital for capacity expansion and R&D.
- 1998-2014: Progressive internationalization - exports increased and formal regional hubs were created to support distribution, parts and after-sales networks.
- 2015-2018: Strategic technology and service upgrades via partnerships (Jungheinrich for leasing/product synergies; ZF for driveline/chassis innovations), accelerating Heli's move up the value chain toward full lifecycle services.
- Manufacturing: High-volume production of forklifts (electric, internal combustion), warehouse equipment (reach trucks, pallet jacks), and customized industrial vehicles.
- Sales & distribution: Multi-channel sales through domestic dealers and international distributors supported by regional centers and export company.
- After-sales & parts: Spare parts, maintenance networks and technical support to increase uptime and customer retention.
- Leasing & services: Asset-light offerings including equipment leasing, fleet management and refurbishment (expanded post-2015 via Jungheinrich partnership).
- R&D & technology: In-house engineering and collaborations (e.g., ZF Group) to develop drivetrains, electric power systems and digital telematics for fleet monitoring.
- Product sales: Core revenue from new equipment sales (largest share of topline).
- After-sales services: High-margin revenue via parts, maintenance contracts and rebuilds.
- Leasing & rental: Recurring revenue from equipment leasing and fleet services accelerated after 2015.
- Exports & OEM: Sales to international distributors and OEM partnerships supply diversified geographic revenue.
| Metric | Value (approx.) | Notes |
|---|---|---|
| Annual revenue | RMB 28.4 billion | Recent fiscal year aggregated sales across domestic & export markets (approx.). |
| Net profit | RMB 1.56 billion | Post-tax profit reflective of manufacturing margins and growing services contribution (approx.). |
| Total assets | RMB 37.2 billion | Includes factories, inventories and equipment fleets (approx.). |
| Global unit shipments | ~150,000-200,000 units/year | Estimated global shipments across product lines; places Heli among the world's larger forklift producers. |
| R&D spend | ~2-3% of revenue | Investment in electrification, drivetrains and telematics (approx.). |
- Customer base: Industrial, logistics, warehousing, ports, manufacturing and construction customers-range from small warehouse owners to large logistics operators.
- Geographic reach: Strong domestic market share in China with growing presence across Asia, Europe, North America, Middle East and Africa via regional centers and export channels.
- Competitive posture: Competes on scale and price with other Chinese manufacturers while differentiating through partnerships (Jungheinrich, ZF) and rising service offerings.
- Electrification: Expanding electric forklift portfolio and battery/drive solutions to capture warehouse electrification trends.
- Services & leasing: Growing recurring revenue streams via leasing, maintenance contracts and telematics-based fleet services.
- Global distribution: Strengthening regional hubs and dealer networks for faster delivery and after-sales support outside China.
- Technology partnerships: Continued collaboration with global suppliers to improve drivetrain efficiency, durability and control systems.
Anhui Heli Co.,Ltd. (600761.SS): History
Anhui Heli Co.,Ltd. traces its roots to the industrial development in Anhui province and has grown into one of China's leading forklift and material handling equipment manufacturers. As a core holding subsidiary of the state-owned Anhui Forklift Group Co., Ltd., Anhui Heli leverages state-sector backing while operating as a publicly listed company on the Shanghai Stock Exchange (ticker: 600761).- Registered capital: 891 million yuan, reflecting substantial investment capacity.
- Public listing: Shanghai Stock Exchange, ticker 600761.SS, providing access to public capital markets.
- State linkage: Core holding subsidiary of Anhui Forklift Group Co., Ltd., a state-owned enterprise.
- Domestic sales and service network: Over 500 outlets across China.
- International presence: 8 overseas marketing service centers and more than 300 overseas agencies.
- Global reach: Products sold in over 180 countries and regions.
| Metric | Value |
|---|---|
| Registered capital | 891 million yuan |
| Domestic sales & service outlets | Over 500 |
| Overseas marketing service centers | 8 |
| Overseas agencies | More than 300 |
| Countries/regions served | Over 180 |
| Stock exchange ticker | 600761.SS (Shanghai) |
Anhui Heli Co.,Ltd. (600761.SS): Ownership Structure
Anhui Heli Co.,Ltd. (600761.SS) frames its corporate identity around the slogan 'Lifting the future,' a concise expression of its mission to drive innovation and progress in industrial vehicles and intelligent logistics. The company targets a world-class position in industrial vehicles and intelligent logistics systems, explicitly aspiring to a top-five global ranking and centennial longevity. Its strategy and operations are shaped by a set of core values that emphasize people, quality, innovation, international expansion and sustainability.- Mission: 'Lifting the future' - advance industrial vehicles and intelligent logistics through continuous innovation.
- Vision: Become a top-five global leader in industrial vehicles and build a century-old enterprise focused on intelligent logistics systems.
- Core values: People-oriented culture, product quality, technological innovation, social responsibility, and green development.
- Primary revenue drivers: manufacture and sale of powered industrial trucks (forklifts), spare parts, aftermarket services, and integrated logistics solutions.
- Scale and production: large-scale manufacturing with annual production capacity measured in the hundreds of thousands of units and a substantial global distribution network supplying dealers across Asia, Europe, Africa, the Americas and Oceania.
- Business model: product sales (new units) + recurring revenue from parts, maintenance contracts, and value-added logistics system integration and software services.
| Business Line | Typical Revenue Contribution |
|---|---|
| Forklift sales (new units) | ~75-85% |
| Spare parts & after-sales services | ~10-20% |
| Integrated logistics systems & software | ~3-8% |
- Green development: integrates environmental controls across manufacturing and supply chains, pursuing energy efficiency, emissions reductions and cleaner material sourcing.
- People-oriented: invests in employee development, safety and welfare to sustain skilled manufacturing and R&D capability.
- Internationalization: grows export footprint and localized operations to meet diverse market requirements and regulatory standards globally.
- Innovation-first: R&D investments prioritize intelligentization of vehicles and logistics solutions to capture higher-margin system sales.
- Quality and social responsibility: product reliability and safety guide product development, after-sales policies and community engagement.
- Strategic balance: aims to combine high-quality domestic leadership with accelerated overseas market share gains.
Anhui Heli Co.,Ltd. (600761.SS): Mission and Values
Anhui Heli Co.,Ltd. (600761.SS) operates a vertically integrated industrial-vehicle business model that spans research and development, manufacturing, and distribution. The company's strategy combines industrial excellence, product intelligence and international expansion to serve diverse material-handling and logistics markets.- Vertically integrated operations: in-house R&D → component production → assembly → nationwide and global distribution.
- Product focus: forklifts, warehouse equipment, special industrial vehicles and related parts and services.
- Quality and compliance: near-universal qualification on quality spot checks (nearly 80% of product lines demonstrate qualification rates >99%).
- Research & Development: centralized R&D programs to improve drive systems, energy efficiency, safety controls and automation features.
- Manufacturing: factory-driven production with standardized processes to control cost, quality and scalability.
- Domestic marketing & service: 25 provincial marketing companies and over 500 marketing service agencies across China to ensure coverage and after-sales support.
- International distribution: eight marketing service centers and more than 300 overseas agencies; products sold in over 180 countries and regions.
- Technology adoption: continuous upgrade path for electrification, intelligent control systems and telematics integration.
| Metric | Value / Scope |
|---|---|
| Provincial marketing companies | 25 |
| Domestic marketing service agencies | >500 |
| International marketing service centers | 8 |
| Overseas agencies | >300 |
| Countries & regions served | >180 |
| Quality spot check performance | Nearly 80% of product lines with qualification rate >99% |
| Business model | Vertically integrated R&D → Manufacturing → Distribution & After-sales |
- Product sales: primary revenue from forklifts and material-handling equipment sold domestically and abroad.
- After-sales & services: spare parts, maintenance contracts and value-added services (telematics, retrofits) boosting recurring revenue.
- Export-driven sales: international channel and agency network increases revenue diversification and foreign-currency receipts.
- Technology premium: higher-margin lines from intelligent/electric models and customized solutions for industrial clients.
- R&D orientation: dedicated investment in powertrains, battery/electric systems, autonomous/assisted operation and digital services to lift product performance and margins.
- Quality management: systematic spot checks and production controls deliver high qualification rates, supporting brand reputation and lower warranty costs.
- Industrial excellence - optimize manufacturing efficiency and capacity utilization.
- Product intelligence - integrate electrification, automation and connectivity into core product lines.
- International expansion - broaden export penetration via localized service centers and dealer networks.
Anhui Heli Co.,Ltd. (600761.SS): How It Works
Anhui Heli Co.,Ltd. (600761.SS) operates as a manufacturer and distributor of industrial vehicles - primarily forklifts, loaders, container handlers and related material handling equipment - generating revenue through product sales, after-sales services, parts, and value-added integrated solutions. The company combines mass manufacturing capacity with an extensive sales and service network and strategic international partnerships to capture both domestic and global market demand.- Core product sales: new forklifts, reach trucks, electric forklifts, diesel/petrol forklifts, container handlers and loaders sold to logistics, warehousing, manufacturing and port operators.
- After-sales services: maintenance contracts, spare parts sales, refurbishment and extended warranties supporting recurring revenue.
- Solutions and value-added services: integrated logistics equipment packages, fleet management software/hardware integrations, and customization for industry customers.
- Export and international distribution: sales through overseas agencies, marketing centers and local distributors adding geopolitical and currency diversification.
- Domestic network: over 500 sales and service outlets across China, providing local sales, leasing and rapid service.
- International network: eight overseas marketing service centers and more than 300 agencies, with products sold in over 180 countries and regions.
- Strategic alliances: partnerships such as with Jungheinrich (2015) and ZF Group (2018) to access technologies, components and distribution synergies.
- R&D and green development: focused investment in electric powertrains, energy-efficient designs and digitalization to create new product lines and higher-margin offerings.
| Revenue Channel | Description | Key Operational Data |
|---|---|---|
| New Equipment Sales | Sales of forklifts, loaders, container handlers and special-purpose vehicles to end customers and distributors. | Domestic: >500 outlets; International reach: >300 agencies in 180+ countries |
| After-sales & Parts | Spare parts, scheduled maintenance, warranty extensions and refurbishment services supporting recurring revenue. | Service network: nationwide outlets plus 8 overseas marketing centers |
| Integrated Solutions & Leasing | Turnkey logistics equipment packages, fleet leasing programs and fleet management services. | Growing contribution through technology upgrades and green/electric product offerings |
| Licensing & Joint Ventures | Technology licensing, co-development and component supply via strategic partners (e.g., Jungheinrich, ZF Group). | Partnerships established: Jungheinrich (2015), ZF Group (2018) |
- Scale manufacturing and vertical integration reduce unit costs and improve gross margins.
- Extensive after-sales network increases lifetime customer value and stabilizes cash flow.
- International expansion and overseas agencies diversify sales and provide exposure to higher-margin markets.
- Product innovation - especially electrification and smart equipment - opens new premium segments and service models.
Anhui Heli Co.,Ltd. (600761.SS): How It Makes Money
Anhui Heli generates revenue primarily by designing, manufacturing and selling industrial vehicles (forklifts, warehouse equipment, special-purpose vehicles), and by monetizing after-sales services, parts, financing and localized manufacturing partnerships as it expands globally.- Core product sales: electric and internal-combustion forklifts, automated guided vehicles (AGVs) and high-end intelligent material-handling equipment sold to domestic and international customers.
- After-sales & parts: maintenance contracts, spare parts, training and technical support via a global distributor network.
- Export & localization: direct exports plus local manufacturing and assembly through overseas centers and distributor partnerships.
- Value-added services: equipment leasing, fleet management, financing solutions, and R&D-driven premium product lines (high-end, intelligent, green).
| Metric | Value (2025 projection) |
|---|---|
| Total operating revenue | >20.0 billion CNY |
| Overseas business revenue | >8.0 billion CNY (≈40% of total) |
| Domestic revenue | ≈12.0 billion CNY (≈60% of total) |
| Global distributors | 400+ distributors |
| Countries & regions covered | 180+ countries and regions |
| Markets with #1 share | 34 overseas markets |
| Overseas centers & bases | 8 overseas centers; first overseas R&D center & manufacturing base |
- Market position: China's top industrial vehicle company for 34 consecutive years, leveraging scale, brand recognition and an expanding international footprint to capture share.
- Growth levers: electrification, intelligent automation, green technology, deeper local manufacturing and expanded regional services to drive higher ASPs and recurring service revenue.
- Distribution & service model: integrated 'global R&D + local manufacturing + regional service' model, with distributors enabling multi-channel sales and after-sales monetization worldwide.
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