On November 15, 2011, the fifth Board Meeting held by China Forklift Company and co-sponsored by Zhejiang Xinchai Co., Ltd. was held in Xinchang Baiyun Hotel in Zhejiang Province.

More than 50 members of the Board, the related spare parts company, exhibiting companies and the media attended the meeting, including the State Construction Machinery Supervision and Test Center, China Forklift Company, Dalian Forklift, Anhui Forklift Truck Group, Zhejiang Hangcha, Xiamen XGMA, Jingjiang Forklift, Luoyang YTO, Shanghai LiuGong, Hu’nan Jinxing Forklift, Yichang Jinlun Forklift, Jinzhou Wanli, Jianghuai-Yinlian, Zhejiang Goodsense, Zhejiang Huahe, Cascade, Zhenjiang Hydraulics, Zhejiang Xinchai, Shaanxi Liaoyuan Hydraulics, Shanghai Guanxiong, Yifine Electrics, Chanjiang Runfa, Guangzhou Best Exhibition and Forklift. Chinaforklift.com (www.chinaforklift.com, English version: www.forkliftnet.com) was invited to the meeting.

The meeting was presided over by the Chairman of the Board of China Forklift Company, also the Chairman of the Board of Dalian Forklift Co., Ltd. Meng Xiangting.

On the meeting, the Chairman of the Board of Xinchai gave an opening speech and introduced briefly the information of Xinchai. As a state-level company with high-new technologies, Zhejiang Xinchai Co., Ltd. realized producing and selling 200,000 sets of diesel engines in terms of marketing sales in 2010, among which 65% were matched with the forklifts. In the first three seasons of 2011, Xinchai succeeded in producing and selling 180,000 sets of engines, and it was anticipated that the company would realize the goal of 240,000 sets in terms of engine output till the end of this year with an increasing rate of 25%. Xinchai had various product lines and excellent talent team, and the production technique of the products achieved to be the leading level in the domestic market. Xinchai had focused on enhancing the product quality and improving the service quality of Xinchai engines, in order to push forward the enterprise goal of realizing internationalization and modernization in an all round way.

The Deputy Directory of the State Construction Machinery Supervision and Test Center Li Tiesheng delivered his speech. He said that the forklift industry had entered a new stage of fast development in 2011. According to the statistics of the Industrial Truck Institute, China Construction Machinery Association (CITA), the forklift sales amount reached 240,000 sets till September of 2011, which was a considerably great performance seeing from the number, influencing a lot to the global forklift industry. While on the other hand, this impelled the manufacturing enterprises to conduct repetitive construction, and made the whole industry to pay less attention on the research and development in terms of new products and technologies. The homogeneity of the products led to the malignant competition, and it had lessened the competitive force of the products made in China, which had great impacts no the developing ability and time for the national enterprises. Under such kind of situation, Mr. Li advocated that the enterprises in the forklift industry in China had to closely cooperate with each other, conducting more detailed predications on the marketing. He said that all the member companies needed try the best to made innovations in terms of enhancing the technologies and promoting the diversified categories of the products, contributing to the continuous development of the forklift industry rather than just pushing all the pressure to Heli and Hangcha.

The General Manager of China Forklift Company Zhao Jiming made a summary to the work in the past year. He firstly showed his welcome to all the members of the Board, and then said that the Board Meeting of China Forklift Company lasting for 3o years had always been the platform for the members to communicate with each other and to discuss about the perspectives of the forklift industry in the future. The issues put forward on the meeting could be the common topics or the particular problems of the enterprises, which were discussed on other meetings recently held in the field of forklift industry for several times so that the members of the meeting were clear about the serious situation lying in the forklift industry. According to Mr. Zhao, it was anticipated that till the end of this year, there would be 250,000 sets to 260,000 sets of forklifts manufactured in China. The proportion of member companies of China Forklift Company had reduced from 80% to 60%. Although the actual sales rose nearly 23% when compared with the last year, the sequential growth had kept a reducing tendency year on year. Seen from the macro environment, the increasing rate of the construction machinery was not as large as that in the forklift industry due to the influences of the national policies, so the forklift industry had a great developing prospect.