On March 29, Weichai Power 2017 Annual Results Announcement Conference was held in Hong Kong. Tan Xuguang, Chairman of Weichai Power introduced the company's business performance to investors and reporters.
We released a brilliant business report to investors: in 2017, we registered business revenues of 151.569 billion yuan and a net profit of 6.81 billion yuan attributable to the parent company, up 62.7 percent and 178.9 percent year on year respectively.
Besides, our return on equity exceeded 20 percent which is tangible value. About this, Tan Xuguang said, “I don’t know if there is anybody out there who could do better than this.”
In 2017, our business structure changed greatly, our product structure became more balanced and the proportion of high-added-value products increased enormously. We have got out of trouble as a cyclical enterprise.
In 2018, the market share of Weichai heavy truck engines will continue to increase; we have been well prepared for new energy operations and are playing a significant role in the smart logistics sector.
Tan interpreted the 2020-2030 strategy for the future. "I assure you that I will not retire then," said him humorously.