Weichai Power Announces 2023 First-Half Report

September 5, 2023, China, On the evening of August 30, 2023, Weichai Power revealed its first-half-year report for 2023, showing impressive financial results. During the first half of the year, the company's operating revenue increased by 22% year-on-year to CNY 106.14 billion, while net profit attributable to the parent company grew by 63.1% year-on-year to CNY 3.9 billion. In the reporting period, Weichai Power achieved a total engine sales volume of 367,000 units, representing a 29% year-on-year increase. Engine exports reached 39,000 units, marking a 52% year-on-year growth. Notably, sales of heavy-duty truck engines surged by 81% to 142,000 units, and the market share increased to 38.4%. High-end, large-displacement products like 14L and 15L engines rapidly captured the market, with the market share for engines above 500 horsepower increasing to 31.7%, a year-on-year increase of 19.7 percentage points. Weichai's natural gas engine market share continued to rise to 66.9%, providing strong support for the company's performance.

Weichai Power's WP15NG, the world's largest horsepower natural gas commercial vehicle engine, entered mass production. It leads the industry in all technical and performance indicators, driving the industry towards higher-end and higher-horsepower transformation and upgrade. The company also officially launched the WP17H, the world's largest horsepower heavy-duty truck engine, customized for complex applications such as mountain routes and plateaus, setting a new record for domestic brand heavy-duty truck power.

In the first half of 2023, Weichai Power sold a total of 61,000 complete heavy-duty trucks, with a market share increase of 2.3 percentage points year-on-year. Complete truck exports reached 26,000 units, a remarkable 97% year-on-year growth. Views:

China Special Vehicle Adivsor