Weichai Power Co Class H ( (WEICF) ) has released its Q4 earnings. Here is a breakdown of the information Weichai Power Co Class H presented to its investors.
Weichai Power Co., Ltd., a leading Chinese company in the manufacturing and sale of engines, automobiles, and related components, has reported its financial results for the year ended December 31, 2024. The company operates in various sectors including engines, automobiles, agricultural equipment, and intelligent logistics.
Weichai Power’s latest earnings report reveals a modest increase in revenue to RMB215,691 million, marking a 0.8% rise from the previous year. However, the company achieved a significant boost in net profit attributable to shareholders, which surged by 26.5% to approximately RMB11,403 million. Basic earnings per share also saw an increase of 25.4%, reaching RMB1.31.
Key financial highlights include an operating profit of RMB17,428 million, up from RMB12,905 million in the previous year, driven by a reduction in finance expenses and an increase in interest income. The company’s total comprehensive income rose to RMB15,730 million, with substantial contributions from its intelligent logistics and engines segments. Despite a slight decrease in revenue from its Chinese operations, international sales provided a strong counterbalance.
Looking forward, Weichai Power remains optimistic about its growth prospects, supported by its diversified business segments and strategic investments. The management is focused on leveraging its strong financial position to explore new opportunities and enhance shareholder value in the coming years.