Weichai’s engine revenue exceeds RMB 40 billion this year

Weichai Power Chairman and Chief Executive Officer Tan Xuguang stated at the press conference on the interim results that the company has completed the integration work and expects heavy truck sales will not fluctuate significantly in the next two years. Overall performance in the second half of the year will be better than that in the first half of the year. It is expected that engine sales will exceed RMB 40 billion this year.
Weichai Power Weichai Power

He also pointed out that the pricing of the Group's engine is 10% higher than that of the industry, but the product is lightweight, and the Group’s engine is the world’s most profitable.

He added that the industry is currently stable and healthy, with rapid growth in logistics, and a healthy and healthy profitability in the future. He expects that the heavy truck industry will continue to recover in the second half of the year. It is expected that the industry's annual sales will exceed 1 million units, an increase of 36% year-on-year. In the second half of the year, the construction machinery industry will continue to pick up. The industry is expected to sell more than 700,000 units throughout the year, an increase of 30% year-on-year. He pointed out that the construction machinery industry has been 8 to 9 years away from the previous peak period and is now entering an update period. It is expected that the demand for updating in the next two to three years will be even greater.

He pointed out that the current market share of the Group's LNG engine is about 60% to 70%, and it has absolute control in the Chinese market. It is expected that this year's sales will be 60,000 to 65,000 units. He also believes that LNG engines must become an important part of future heavy-duty vehicles.

The Group will continue to promote light fuel cells in the future, while the transition period will require the use of the most advanced lithium batteries.

In addition, he pointed out that at present, China’s environmental protection requirements have increased, and it is believed that the government will introduce forklift pollution control, and the group’s acquisition of German industrial forklift manufacturer Kion Group will perform better in the Chinese market.

He also believes that the current price-to-earnings ratio of the group is still low, there is ample room for market value, and investors are urged to buy shares.

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