Weichai Power sees H1 net profit up 50-100% y/y

Weichai Power Co Ltd said first half net profit is expected to have risen by 50-100 pct year-on-year due to increased engine sales to the rapidly expanding heavy-duty truck and construction machinery market.

In a statement filed with the Shenzhen Stock Exchange, the company said it sold over 200,000 engines in the first half, up about 43 pct year-on-year.

Meanwhile, units Shaanxi Heavy Duty Motor and Shaanxi Fast Gear also recorded sales of over 40,000 heavy-duty motors and 300,000 gear boxes respectively, up 39 pct and 35 pct from a year earlier.

In the first half of 2007, Weichai Power booked a net profit of 850.74 mln yuan, or 2.16 yuan per share.

The company is due to release audited first half financial results on Aug 21.