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Weichai Power announces 2016 annual results with a net profit growth of over 70%

2017.03.31

Abstract: On March 30, 2017, Weichai Power held a press conference in Hong Kong to announce the full year results of 2016. Weichai Power Chairman and CEO Tan Xuguang shared Weichai Power's development performance and highlights of 2016 with investers, and analyzed the future development trend showing the great potential of Weichai's development.

 

In 2016, in the context of the new economic structure and the supplier structural reform, Weichai Power made efforts to promote structural adjustment, transformation and upgrading, which made it the first to achieve "V" type reversal and entered a new round of growth. Weichai achieved business income of 93.184 billion yuan in 2016, increasing 25.64%. The net profit attributable to shareholders was 2.441 billion yuan, increasing 72.86%.The basic earnings per share were 0.61 yuan, increasing 74.29%.

Tan Xuguangbriefed the investors about the development of Weichai Power, and made a comprehensive summary of Weichai Power's steps,strategic intentsand payback since listing, strategic M&A and structural adjustments. Through the acquisition of Bodouan, the reorganization of KION and LindeHydraulics, the acquisition of Dematic, Weichai achieved traditional business upgrade, emerging strategic products and strategic market development, vertical industrial chainextension, in-place structural adjustment, and more reasonablecompany business structure, product structure and regional structure.

At the same time, Tan Xuguang also shared with investors on the future development trend. In 2017, China's heavy truck market is expected to grow 9.2%, mainly benefiting from the implementation of PPP project and the "big infrastructure" project worthy of 4.7 trillionyuan. The more strict policywill speed up the replacement of old heavy trucks, and move towards the efficient logistics and high-endtransport-driven trend. Influenced by new infrastructure and new projects, the demand for continuous replacement, the construction machinery industry will continue to maintain a recovery trend. Consuming and intelligent manufacturing upgrade will continue to drive the rapid growth of intelligent warehousing industry.

With the global collaborative R&D advantages, advanced intelligent manufacturing technology, differentiated products and services, and stable and loyal customer base, Weichai Power actively respond to thesituation by planning the layout in advance, which is completing the engine and heavy-duty truck upgrading work, and remaining the leading position in high-power engine, heavy-duty transmission and heavy-duty truck market in the future.

Tan Xuguang said that in the future, Weichai Power will achieve three major strategic business breakthroughs: 1. Make the traditional powertrain market leading position more solid, and achieve rapid developmentfor the new energy powertrain business. 2.Further enhance the competitiveness of the vehicles, including heavy, medium, light truck products, and lead the industry's latest development trend. 3.Achieve a new breakthroughfor the new business. The implementation of automated logistics and intelligent warehousing industry in the Asia-Pacific market will give full play to KION's material handling solution capabilities. Thesynergy with Dematic internal logistics overall solution will help the Group strive to achieve strategic business global breakthrough.

Tan Xuguang said that Weichai Power has achieved a magnificent strategic transformation and structural adjustment. The year of 2017is WeichaiPower's first year of global business integration harvest, as well as the first year to open a new first cycle of development. Through the unremitting efforts of all staff, Weichai Power will strive to become the international companythat is respected by the community and will continuously create returns for the shareholders.

 
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Engines

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  • Whole areas of application

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