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On January 6, 2011, the staff of the Weichai Power Securities Department of China’s largest engine manufacturer, responsible for investor relations, said that in 2010, the company’s operating income is expected to be approximately 60 billion yuan and net profit of 6 billion yuan, an increase of approximately 68% year-on-year. And 93%.
The substantial increase in revenue was due to the explosive growth of the heavy-duty truck industry in 2010, which led the company's operating income in 2010 to surpass expectations. In fact, this growth rate far exceeds the company's plan for the beginning of 2010. Weichai originally planned to realize operating income of 42.8 billion yuan in early 2010, an increase of approximately 40% year-on-year. As a typical cyclical industry, due to the large impact of fixed asset investment, the growth rate in 2011 is expected to decline by a certain extent and is currently estimated to fall to 10-20%.
Benefit from the high growth rate of fixed asset investment in 2010 and the growth of domestic and foreign trade logistics demand driven by the global economic recovery. As of November 2010, the growth rate of heavy-duty truck industry exceeded 60%, creating a high point of heavy-duty truck industry growth in recent years, 2009 The annual growth rate of heavy-duty truck industry is only 17%. Weichai Power directly benefits as a leading heavy-duty truck engine. However, the growth rate in 2011 cannot maintain the 2010 high.
According to the official website of the company, Weichai Power holds a 38% share of the heavy truck market and is the largest supplier of heavy-duty engines in the country. It has monopolistic advantages in the 10-12L market. In the first three quarters of 2010, Weichai Power achieved operating revenue of 46.9 billion yuan, an increase of 84.45% year-on-year; net profit of 4.8 billion yuan, an increase of 101.54% from the same period last year.