On the evening of April 29th, Weichai Power released its first-quarter report for 2025. During the reporting period, the company achieved an operating revenue of 57.464 billion yuan, a year-on-year increase of 1.92%; the net profit attributable to the parent company reached 2.711 billion yuan, a year-on-year increase of 4.27%. The profit growth rate has continued to outpace the revenue growth rate and significantly exceeded market expectations. In particular, after excluding the impact of related expenses of KION Group, the growth rate of the net profit attributable to the parent company further increased to 22.42%. During the reporting period, the company’s profitability was further enhanced, and the gross profit margin increased by 0.6 percentage points year-on-year to 22.2%.
In the first quarter, Weichai Power sold 217,000 engines of various types, a year-on-year increase of 5%. The company’s heavy-duty truck engines achieved sales of 83,000 units, remaining basically the same as the same period last year, achieving steady development. The company’s high-end product, the large-bore engine, which has attracted much market attention, sold nearly 2,500 units in the first quarter, a year-on-year increase of 40%. Among them, benefiting from the prominent infrastructure opportunities such as data centers in the domestic market, the domestic sales of large-bore engines have increased significantly. The company stated that in the follow-up, it will give play to its advantages in technical performance, production capacity, and delivery efficiency, etc., accelerate the seizure of key high-end markets such as data centers, and further increase market share and profitability.
In the field of traditional power, the company has been continuously promoting the improvement of the low-carbon performance of internal combustion engines and has developed diesel engines with higher thermal efficiency that are more economical and have better energy conservation and emission reduction capabilities. On April 22nd, Weichai Power released the new generation of H/T-2.0 high thermal efficiency engines, which can save 5% more fuel compared with products of the same level.
Against the backdrop of the new energy transformation becoming a major trend in the entire industry, as a leader in traditional power, Weichai Power regards new energy as an important direction for strategic upgrading. Weichai Power adheres to the multi-path approach of “fuel cells, hybrid power, and pure electricity” to seize the opportunity in the new energy power market, and the strategy of new energy complete vehicles and complete machines is gradually being implemented.
On March 28th, the first battery product rolled off the production line at the Weichai Fudi (Yantai) New Energy Power Industrial Park. This industrial park was jointly built by the company and BYD and is currently one of the largest production bases for special batteries for commercial vehicles in the world. With the completion and operation of this industrial park, Weichai Power has a large-scale production base covering new energy power systems, motors, motor controllers, and batteries. On April 24th, Shaanxi Automobile Heavy Duty Trucks under Weichai Power released the fully independent new energy “Zhihui” heavy-duty truck brand at the Weichai (Yantai) New Energy Industrial Park. The heavy-duty trucks of this brand are equipped with the golden power system of “Weichai new energy battery + Fast AMT transmission + Hande electric drive axle”, and it is a domestic charging heavy-duty truck brand with completely independent three-electric software and hardware. The vehicle’s economy, reliability, safety, and other indicators lead the industry, which will help Shaanxi Automobile Heavy Duty Trucks become a leader in the new energy field of commercial vehicles.
In 2025, the company will promote the technological innovation and platform iteration and upgrading of new energy products to form differentiated product advantages; increase market development efforts and accelerate the expansion and promotion of vehicle models.
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