Weichai Power net profit up 5.2% in 2019

JINAN -- Weichai Power Co Ltd, a leading Chinese powertrain producer, posted a 5.2-percent year-on-year growth in net profit for 2019.

In its annual financial report, Weichai said its net profits attributable to shareholders reached around 9.1 billion yuan (about $1.29 billion) last year.

Meanwhile, the business revenue of the company stood at 174.36 billion yuan, up 9.5 percent year on year.

Weichai Power expects its 2020 sales to reach nearly 188.5 billion yuan, up around 8 percent over the previous year.

The company will continue to increase input on research and development and breakthroughs of core and key technologies to create more competitive products.

Weichai Power manufactures engines, heavy vehicles, construction machinery and other products. In 2019, it sold 742,000 engines and over 1 million gearboxes.