First Tractor Co. Ltd., formerly known as the First Tractor Works of China, founded in 1955, is one of the 156 key construction projects in the First Five-Year Plan of China and the only ultra-large agricultural machinery enterprise of China. It was approved as the “Level A Enterprise of the State” by the Enterprise Administration Committee of the State Council in 1990. In 1997, YTO Group Corporation established the First Tractor Co. Ltd. after legitimately restructuring the business segments, assets, liabilities and personnel related to tractor business, and issued H- share beyond Mainland China and H-share was listed in Hongkong Stock Exchange on 23rd June, 1990. The A-share of the First Tractor Co. Ltd. was listed in Shanghai Stock Exchange on 8th Aug. 2012, and it becomes the only exclusive agricultural machinery stock listed company with A and H-share capital platforms. The holding company of the First Tractor Co. Ltd is YTO Group Corporation, whose parent company is China National Machinery Industry Corporation (SINOMACH). The trademark of “DFH” in China market or YTO brand in the world, China Top Brand as approved by SAIC (State Administration for Industry & Commerce of the Peoples’ Republic of China), is the first well-known brand in China farm machinery industry. The company has been awarded as the Advanced enterprise for quality management in China, and has passed quality management system ISO9001, Environmental Management System ISO14001, Occupational Health and Safety Management System OHSAS18001 and etc, and obtained Henan Provincial Governor Quality Award in 2012. The company’s total asset is 10.73 Billion RMB Yuan by the end of 2012, and with an entire staff of 12,200, of which over 3200 are administrative and professional engineers.
First Tractor has powerful forging, machining, assembly and testing capabilities, with nearly a hundred production lines. Its dominant products are in total of over 100 varieties named as “YTO” serial crawler tractors, wheeled tractors and diesel engines. The company, by virtue of the strength in products and technology, keeps the leading place in hi-powered wheel tractors and off-road engine and power products at home, and its products are well marketed to more than 140 countries and regions, all these has made great contribution to the development of China agricultural machinery industry, agricultural mechanization and the construction of new rural villages. First Tractor has four specialized tractor assembly plants under its administration, respectively producing crawler tractor and variant tractor products, hi-, medium and low-powered wheeled tractors in the power range of 17~380 hp.
The company insists on scientific development ideology, guided by the strategy of “integrate core capability, develop strength industry”, meaning focus on core resources, core business segments and core markets so as to constantly improve the independent innovation and market operation capabilities, human resources strengthening enterprise capability, and globalized marketing capability as the emphasis. Strengthen the core businesses namely tractors and diesel engines, the gold supply chain system for parts and components, enhance the both domestic and international markets. Make full use of the resources of the listed company, efficiently integrate resources thus to create a better development space so as to become the fore-runner for farm machinery with the full perfection of overall competitive force both in agricultural equipment and reasonably diversified industry chain.
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