Weichai Power (000338.SZ) announced 2024 annual results, with net profit of 11.403 billion yuan to mother, an increase of 26.51% over the previous year

According to the Zhitong Finance App, Weichai Power (000338.SZ) released its 2024 annual report. During the reporting period, the company achieved revenue of 215.691 billion yuan, an increase of 0.81% over the previous year. Achieved net profit attributable to shareholders of listed companies of 11.403 billion yuan, an increase of 26.51% over the previous year. Achieved net profit of 10.527 billion yuan after deducting non-recurring profit and loss attributable to shareholders of listed companies, an increase of 30.29% over the previous year. Basic earnings per share were $1.31. It is proposed to distribute a cash dividend of RMB 3.47 (tax included) for every 10 shares to all shareholders.

During the reporting period, in the face of complex and changing situations at home and abroad, the company made scientific layout and systematic progress, strengthened scientific and technological innovation, seized market opportunities, and dug deeper into operating potential to effectively overcome the low operating pressure of the industry. All major indicators improved across the board, profit growth far exceeded revenue growth, and continued to maintain high quality and steady development. The company sold 734,000 engines of various types, of which 69,000 engines were exported, up 5% year on year; sales of 8,132 M series large bore high power density engines were the same; transmission units were 853,000 units, up 2% year on year; and 800,000 axles, up 8% year on year.