Weichai: a Net Interim Profit of 2.085 Billion RMB

www.chinatrucks.com: Benefited from the upturn of HD truck market and sales increase in hydraulic components, Weichai Power achieves stable growth in the first half year. According to the company’s interim report, the business revenue in the first half year is 30.922 billion RMB and a net profit of 2.085 billion TMB belongs to listed company shareholders, up by 14.27% and 9.89% respectively year on year. The basic EPS is 1.04 RMB, up by 9.47% year on year.

The report shows that in the first half year, major business revenue increases by 15.9% thanks to the upturn of HD truck market and sales increase of hydraulic components. In HD truck industry, 402,700 units of engines are sold, up by 8.4% year on year. Driven by the rise of HD truck market, the HD truck engine enjoys a sales volume of 155,100 units, up by 22.7% year on year. In the HD truck market with gross mass over 14t, Weichai takes up 38.5% market share, holding an absolute advantage in this segment. In the engineering machinery market, a total of 401,200 units of engines are sold, down by 1.3% year on year. A total of 62,500 units of 5t loaders are sold, down by 1.7% year on year. However, relying on superior products, 5t loader engines enjoy a sales volume of 41,900 units, up by 5.9% year on year, accounting for 67% market share and remain leading in this segment. In the bus market, 9076 engines are sold, up by 3.8% year on year, growing for three consecutive years. It takes up 11.6% in the bust market. 

The company predicts that Chinese HD truck market will further get improved in supply-demand in the second half year so the sales of HD truck will increase. Currently, by virtue of the company’s technical strength, mass and high-quality production, coordinative global resources, loyal customer base, readiness for China Ⅳ standard, Weichai will remain a leader in large power engine, HD transmission and HD complete vehicle markets.

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