Weichai Power Net Profits up 60-70% Q1 to Q3
www.chinatrucks.com: Weichai Power released their sales report on Oct. 14, and their net profits were 432-463 million Yuan till Sept this year, up 60-70% over last year. And the net profits for the listed company shareholders are 558 to 868 million Yuan from July to Sept., up 40% over last year.
Weichai Power said that this can be attributed to include KION Group AG sales profits which is listed on Germany stock markets. According to Accounting standards for enterprises No. 20 and No.33, Sinotruk's shares of KION Group AG before purchasing the company will be accounted to be calculated to Sinotruk's investment profits; and other comprehensive profits related to the shares will also be transferred to investment profits. In this case, the net profits for the shareholders increased.
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