Weichai Power Released 2021 Annual Report

Date:2022-04-01 Author:Grace Source:chinaspv.com

April 1, 2022, Shandong, China, Recently, Weichai Power Co., Ltd. Announced its audited annual results for the year ended December 31, 2021.

During the reporting period, Weichai achieved an operating income of RMB 203.55 billion, a year-on-year increase of 3.2%; a net profit attributable to shareholders of listed companies of 9.25 billion yuan, a year-on-year increase of 0.3%. Basic earnings per share were RMB 1.1. The company attaches great importance to shareholder returns, and distributed a total of 3.7 yuan in dividends per 10 shares throughout the year.

During the reporting period, the company's powertrain business maintained positive and steady development. The annual sales of engines was 1.02 million units, a year-on-year increase of 3%; the sales of gearboxes was 1.153 million units, of which 1.01 million units were heavy-duty truck transmissions, and the market share increased by 5.3 percentage points year-on-year to 72.4%; 938,000 axles were sold, of which 697,000 were for medium and heavy-duty truck.

The full range of engines has significant advantages in all fields. The proportion of non-road engines in total sales increased by 5.3% to 34.4%, maintaining the industry's No. 1 position in the loader, crane and bulldozer; the sales volume of national VI engines ranked top in the industry, with sales of 429,000 units heavy-duty truck engines and market share increasing by 2.8 percentage points year-on-year to 30.7%.

In 2021, the company continued to adjust and optimize the product structure, and sold a total of 150,000 units heavy-duty trucks, ranking fourth in the industry. Sales of port tractors, muck trucks, coal sand and gravel transport vehicles continued to maintain the first position in the industry, and the growth rate of 480 horsepower models with standard logistics was the first in the industry. The overseas export business has grown significantly, and the annual export exceeded 19,000 vehicles, a year-on-year increase of 72%.