Weichai Power Co., Ltd. was founded in 2002 by the Weifang Diesel Engine Factory then as the main initiator and jointly established by domestic and foreign investors. It is the first enterprise in China's internal combustion engine industry listed in Hong Kong stock market, and also the first company that has both listed in China Mainland and Hong Kong stock markets through stock swap based on acquisition. The Company has Weichai Power engine, Shacman heavy-duty truck, Weichai Lovol smart agriculture, Fast transmission, Hande axle, Torch spark plug, KION, Linde hydraulic, Dematic, PSI, Baudouin, Ballard and other well-known brands at home and abroad. In 2024, the Company’s operating income was 215.69 billion yuan, and the net profit was11.4 billion yuan.
The main business of the Company covers powertrain systems, commercial vehicles, agricultural equipment, smart logistics and other business segments. The subsidiaries are throughout Europe, North America, Asia and other regions, and products are exported to more than 150 countries and regions. The sales of heavy-duty engine and heavy-duty transmission are the first in the world, industrial forklifts are leading in the world, agricultural equipment sales is first in China, and heavy-duty trucks are leading in China. It has national innovation platforms such as the State Key Laboratory of Engine and Powertrain System, the National Fuel Cell Technology Innovation Center, the National Commercial Vehicle Power System Assembly Engineering Technology Research Center, the National Industrial Design Center, the National Internal Combustion Engine Product Quality Inspection and Testing Center, the National Internal Combustion Engine Industry Measurement and Testing Center, and the National Certified Enterprise Technology Center. It has set up research bases such as "postdoctoral workstation", set up ten cutting-edge innovation centers in many places around the world, and established a global collaborative research and development system. The Company has won 9 national science and technology awards, including 1 National Science and Technology Progress first prize (2018).
Weichai Power exemplifies its corporate social responsibility, actively practices green, low-carbon and high-quality development, and leads the equipment manufacturing industry chain toward high-end and win-win development. It has won the China Quality Award, China Patent Gold Award, China Trademark Gold Award, Trademark Innovation Award, National Quality Award, National Enterprise Culture Demonstration Base and other honorary titles.
On March 8, 2018, when General Secretary Xi Jinping participated in the deliberation of the Shandong delegation at the first session of the 13th National People's Congress, he made an important instruction after listening to the report of Weichai: "Weichai has handed in a brilliant result with ten years of development", "All successful enterprises that have climbed to the top of the business rely on focusing on their main business."
Website: https://en.weichaipower.com