According to the news from the CITIC Securities app, Weichai Power (02338) opened nearly 3% higher after profit announcement, and as of the time of publication, it rose 2.73% to HKD 12.80, with a turnover of HKD 8.6807 million.
In regards to the news, Weichai Power announced that the net income attributable to shareholders of the parent company expected to be obtained by the group for the six months ending June 30, 2024 will be approximately RMB 5.46 billion to RMB 6.24 billion, an increase of about 40% to 60% compared to the six months ending June 30, 2023.
The announcement stated that the increase in net income attributable to shareholders of the parent company was mainly due to the company's active promotion of business and optimization of product structure in the first half of 2024, strengthening the implementation of cost reduction and efficiency increase measures, and significantly improving its profit-making ability and performance achieved a significant year-on-year growth.