On the 28th, Weichai Power released its 2008 annual report, highlighting a year of steady growth and strategic planning for the future. During the reporting period, the company achieved an operating income of 33.128 billion yuan, representing a 13.21% increase compared to the same period in the previous year. Notably, the company's main business generated 2.625 billion yuan in foreign sales revenue, marking a significant rise of 51.74% year-on-year. Despite this positive performance, net profit attributable to shareholders of the listed company stood at 1.931 billion yuan, a decrease of 4.36% from the previous year. Earnings per share also declined by 15.94%, reaching 2.32 yuan.
Looking ahead, Weichai Power outlined its 2009 strategy, focusing on advancing the national III high-power, high-speed engine initiative. The company aims to leverage its unique resources and technological expertise to meet China’s growing demands for environmentally friendly, energy-efficient, and high-performance heavy truck solutions. With Lanqing Power as its core, Weichai plans to expand into emerging markets such as passenger cars, non-loader construction machinery, medium- and heavy-duty trucks, ships, and industrial power generation. This diversification is expected to strengthen its market position and create a more balanced and comprehensive market layout.
The company also projected that its sales revenue in 2009 would reach approximately 3.5 billion yuan, reflecting its confidence in continued growth. In addition, the board of directors proposed a profit distribution plan for 2008, suggesting a cash dividend of RMB 1.3 (inclusive of tax) for every 10 shares, based on the company’s total share capital of 833 million shares. This move underscores the company’s commitment to rewarding its shareholders while investing in long-term development.
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