2024 ANNUAL RESULTS OF WEICHAI POWER

Rob Smith, CEO of KION Group, a subsidiary of Shandong Heavy Industry Group, spoke with Xinhua News Agency about KION's successful development in China, his views on China's high-quality development and the application of artificial intelligence in KION after the Company released its 2024 financial results recently.

Recently, the 17th National Agricultural Machinery User Satisfaction Brand Award ceremony was held in Yongkang, Zhejiang province. Weichai Lovol wheeled tractor, grain harvester, crawler tractor and peanut harvester were selected as the national agricultural machinery user satisfaction brands.

Shandong Heavy Industry Group's Major Projects Accelerate and Sprint to A Good Start in the First Quarter

Sinotruk, a subsidiary of Shandong Heavy Industry Group, recently donated a batch of food, stationery and other daily necessities to the orphanage in Dar es Salaam, Tanzania, to improve the children's living conditions, convey warmth and hope, and inspire them to work harder to pursue their dreams.

Recently, Brand Finance, a British brand evaluation agency, released the list of "25 Most valuable auto parts brands in the World 2025". Weichai, as one of the two Chinese enterprises selected, ranked sixth with a brand value of $2.89 billion, which is also the third consecutive year that Weichai has been included in the list.

From February 26 to March 1, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, went to Dubai, Abu Dhabi and Anayn in the United Arab Emirates to conduct field research on overseas market development, visit strategic partners and major customers, attend important cooperation signing activities, further promote the local market layout and group business coordination, and accelerate the landing of internationalization strategy. Zhang Gengsheng, member of the Party Committee and deputy general manager of Shandong Heavy Industry Group, participated in the research as well.

KION Group presented its 2024 financial results at its headquarters in Frankfurt on February 27. The Company's fiscal year 2024 was marked by stable operations and strong performance - revenue increased slightly to €11.503 billion (2023: €11.434 billion); adjusted EBIT increased significantly to €917.2 million (2023: €790.5 million); adjusted EBIT margin increased to 8.0% (2023:6.9%); free cash flow reached €702 million (2023: €715.2 million) driven by strong results and significantly lower net working capital; consolidated net income increased year-on-year rising to 369.2 million euros (2023:314.4 million euros).

From February 23 to 25, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, went to Saudi Arabia and Kuwait to investigate the development of export business, held a special dispatching meeting on the Middle East market, and visited strategic partners and major customers. Zhang Gengsheng, Member of the Party Committee and Deputy General Manager of the Group, participated in the investigation.

On February 25, the Off-line Delivery of Weichai's 800,000th and Launch of New-generation WP16NG4.0 Gas Engine was held in Chengdu with the theme of "Igniting the Future, Powering the Landscape", which once again demonstrated Weichai's unshakable hard core strength in the field of natural gas engines for commercial vehicles. Dealers, customer representatives, media reporters and other guests from across China witnessed this glorious moment.