After the acquisition of the Hunan Torch, Weichai Power's first-half performance increased by 127.2% year-on-year

On August 29, Weichai Power Co., Ltd. held its first-half performance briefing through simultaneous video conferences in Hong Kong, Beijing, and Shanghai. The results revealed a significant surge in the company's performance following the acquisition of Hunan Torch. Revenue for the first half of the year reached 15.34 billion yuan, marking a year-on-year increase of 77%, while net profit soared to 1.34 billion yuan, up by 127.2%. Earnings per share amounted to 1.87 yuan, showcasing strong growth momentum. In the first half of the year, Weichai completed the merger with Hunan Torch, transforming into an "A+H" listed company with dual listings on the Hong Kong and Shenzhen stock exchanges. This strategic move has enabled the former single-engine manufacturer to build a comprehensive automotive industry chain with robust growth potential and competitive strength. Chairman Tan Xuguang emphasized that the integration process has led to a clear strategic direction, focusing on power as the core business, enhancing industrial value chain competitiveness, and expanding industrial alliances. He noted that the first-half results are a strong indicator of these efforts. Weichai’s diesel engine sales in the first half reached 140,179 units, a 68.8% increase from the same period last year. Its market share in heavy-duty vehicles and power supplies for 5-ton (or more) loaders stood at 33.4% and 82.4%, respectively. Shaanxi Heavy Truck Co., a direct subsidiary, sold 30,600 heavy trucks, up 104% year-on-year. Shaanxi Fast Gear Co., another subsidiary, reported 243,600 gearboxes sold, a 112% increase. Other subsidiaries, including Zhuzhou Gear, Fortis Air Conditioning, and automotive lighting divisions, also showed strong performance. With the acceleration of international expansion, Weichai has improved its service network across 18 countries and regions. In the first half, product exports reached 7,098 units, up 123% compared to the previous year. Following the Hunan Torch merger, Weichai now possesses a complete powertrain system, including engines, gearboxes, and axles, forming a full automotive parts industry chain. The company has successfully mass-produced a 12-liter high-power, high-speed engine, signaling a major product restructuring. This shift has significantly reduced the market risks associated with the previous reliance on 10-liter engines and boosted profitability. In addition to supplying engines for heavy-duty vehicles, Weichai has seen substantial growth in large passenger car and marine accessory markets. Zhang Yupu, CEO of Weichai Power, highlighted that the rapid growth in heavy truck sales at Shaanxi Autos has driven increased engine output, particularly with the 60,000, 80,000, and 100,000 unit development targets set by Shaanxi Heavy Duty Truck. This has created new opportunities for supporting industries. The passenger car parts sector, including Fortis air conditioning, spark plugs, and automotive interiors, is also gaining momentum, especially with the rising demand for Dongfeng SUVs. These developments are expected to become key growth drivers for Weichai in the coming years. Related topics: Auto Parts Giants: Hunan Torch

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