Weichai Power's second-quarter net profit increased by 138.5%
Weichai Power's 2009 semi-annual report published on August 29 showed that in the first half of the year, the company's operating income reached 15.8 billion yuan, and the net profit attributable to the parent company was 1.222 billion yuan, of which the second-quarter net profit increased by 138.5%. On the whole, the company's earnings have gone out of the N-reversal trend. Through effective control of operations, corporate profitability has returned to the high level of the same period last year.
Relying on product advantages, various business indicators continue to rank first in the industry. In terms of engine business, the company's engine business continued to maintain its leading position in the industry in the first half of the year, despite the impact of the external environment on sales decline. The company sold 101,569 heavy-duty engines, a year-on-year decrease of 25.9%, a decrease of 2.1 percentage points from the industry decline. In the transmission business, although sales volume was reduced by 29.0% to 235,000 units due to market conditions, it still maintained its leading position in the heavy-duty automotive industry.
Tan Xuguang, Chairman and Chief Executive Officer of the company, is cautiously optimistic about the heavy-duty auto market in the second half of the year. He said, "The company will firmly seize the market opportunities, speed up the development of commercial vehicles, powertrains and auto parts, and build the company into a global leader in transportation and engineering equipment with power as its core. â€
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