Weichai Power's net profit rose by 3.16 times in the third quarter

November 21 13:08:20, 2021

On October 30, 2017, Weichai Power (000338) announced three quarterly reports. From July to September of this year, the company realized operating income of 39.237 billion yuan, an increase of 89.42% over the same period of the previous year; and the net profit attributable to the shareholders of the listed company was 1.953 billion yuan, an increase of 316.05% over the same period of the previous year, which was attributable to the shareholders of the listed company. The net profit after deducting non-recurring gains and losses was 1.937 billion yuan, an increase of 294.57% year-on-year; and the realized earnings per share was 0.24 yuan. The company's weighted average return on net assets in the third quarter reached 5.06%, an increase of 3.52 percentage points from the same period of last year.
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At the same time, from the cumulative point of view of the year, the company's operating performance this year still shows a relatively strong growth compared with the same period of last year. From January to September, the company's operating income was 111.551 billion yuan, an increase of 76.29% year-on-year; and the net profit attributable to the shareholders of the listed company was 4.603 billion yuan, an increase of 198.79% year-on-year, among which non-recurring gains and losses deducted from the shareholders of the listed company. Net profit reached 4.476 billion yuan, an increase of 219.65% over the same period of the previous year; realized a return of 0.58 yuan per share. The weighted average return on net assets of the company in the first three quarters reached 13.16%, an increase of 8.3% over the same period last year.

According to its announcement, in the first three quarters, the increase in operating income of the company as compared with the same period last year was mainly due to the increase in the scale of sales of enterprises. At the same time, the year-on-year increase in its net profit was mainly due to the increase in the company’s operating income and changes in fair value gain over the same period of the previous year.

What is worth mentioning is that while the business performance has increased substantially, the company's operating cash flow has also shown ample state. According to its three quarterly report, from January to September, the net cash flow from operating activities of the company reached 5.989 billion yuan, an increase of 301.40% over the same period of last year.

The company stated that considering the impact of the macroeconomic situation and the overall situation of the industry, the company predicts that the sales volume of major products will increase year-on-year in 2017, and on this basis, the company’s cumulative net profit is expected to be approximately RMB 6.1 billion to 6.5 billion for this year. Between the yuan, it will increase 150% from the same period last year to 166%; at the same time, it is expected that the earnings per share will be between 0.76 and 0.81 yuan.

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