Weichai Power released the mid-year financial report. The revenue in the first half of 2018 increased by 13.8% year-on-year.

Weichai Power

According to the announcement, the operating income was mainly benefited from the continuous growth of sales in the domestic heavy truck market and the Shaanxi Holding Heavy Vehicle Co., Ltd., a group holding subsidiary, achieved breakthroughs in the heavy truck segment and its sales volume increased significantly. The Group focuses on the main business, continuously invests in product research and development and effectively controls costs, making the products more cost-effective, core technology and quality competitiveness. The profit margin of the main business has increased from approximately 21.5% in the same period last year to 22%.

In the first half of 2018, the company sold a total of 114,000 engines of 12L and 13L, an increase of 12.9% year-on-year. The dominant position of heavy-duty engine products in the heavy truck market, the 5-ton loader market and the passenger car market of 11 meters or more is still stable.

Weichai engine

At the same time, sales of strategic products and strategic markets increased significantly. Yangchai engine sales were 59,000 units, up 20.9% year-on-year; WP9H/WP10H engine sales were 30,400 units, up 260.8% year-on-year; WP13 engine sales were 22,000 units, up 6.7% year-on-year; The sales of agricultural equipment engines was 21,000 units, an increase of 31.8% year-on-year; the sales of forklift engines was 2,164 units, which was basically the same as the same period of last year.

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