Summary by Moomoo AI
Weichai Power Limited announced the mid-year financial statements and management discussion as of June 30, 2024, which were approved by the board of directors on August 22, 2024. The report shows that the company's revenue reached 112.49 billion RMB, a 6% increase compared to the same period last year; net profit was 7.37 billion RMB, a significant 54.1% increase from the same period last year; eps was 0.68 RMB, a growth of 51.4%. The total assets of the company were 343.59 billion RMB, total liabilities were 225.21 billion RMB, and shareholder's equity was 118.38 billion RMB. Cash and cash equivalents were 61.35 billion RMB. The report also detailed the accounting policies, including business combinations, financial instruments, inventory, investment properties, fixed assets, construction in progress, asset impairments, foreign currency transactions, and treatment of long-term equity investments. Additionally, the report included relevant explanations of financial information such as contract assets and liabilities, borrowing costs, intangible assets, asset impairments, long-term prepayments, and employee compensation.
