[Preface] In the first quarter of this year, Weichai Group's operating income exceeded 50 billion yuan, the highest level in the same period in history, taking the lead in realizing V-type reversal growth in the China's engine industry.
[Text] Today is the weekend, in Weichai Logistics Park, trucks from all over the country is waiting in line to buy Weichai engine.
[Actual Sound] Lian Jianfeng, client from Xi'an
"Seems to be in short supply, so every time you come, you have to wait for at least two days. That is the case even before the Spring Festival, it is more so after the Spring Festival."
[Text] In the No.1 assembly workshop of Weichai, which is running at full power, an engine goes off the assembly line in less than 100 seconds.
[Actual Sound] Zhang Quan, Executive CEO of Weichai Group
"The market recovery has benefited from the steady and positive economic situation of the country, as well as the increasingly stringent restrictions on overloading regulations and standards. At present, the heavy truck industry's demand for high-power engines has increased to 500-horsepower. Weichai has already completed its product reserves 2 years ago."
[Text] In March, the production and sales of Weichai engines exceeded 60,000 units, with a total of 158,000 units in the first quarter. The group's operating income exceeded 50 billion yuan, an increase of 61% over the best level in the same period in history. Besides structural adjustment and independent innovation, the acceleration of internationalization is also an important engine for Weichai to achieve V-shaped reversal growth. Following the profitability of all overseas companies last year, Weichai recently acquired a 40.71% stake in PSI, a U.S. new energy engine company, with an investment of $60 million, to become its largest shareholder, which has not only opening a breakthrough into the high-end market in North America, but also the two companies will jointly develop high-power non-mobile engines and upgrade gas engine technology to pave the way for future growth.