Company Profile
Weichai is one of the automobile and equipment manufacturing groups with the strongest
comprehensive strength in China’s heavy truck industry. Based on the powertrain system
including engine, axle and gearbox, the Company extends upstream components and
downstream heavy trucks, and takes the lead in forklifts and intelligent warehousing. After
years of development, the Company has built a synergetic development pattern of four
major industrial segments including powertrain (engine, gearbox, and axle), vehicle and
machinery, hydraulic control, and auto parts.
Investment Summary
Increase by 60% yoy in Q2, Verifying the Industry’s Prosperity
In 2021, China’s heavy truck industry showed an obvious trend of highs and lows. There was
a high growth rate in H1. The sales volume grew by 27.7% yoy; “eight consecutive declines”
were seen from May to December. In particular, the year-on-year decline from August to
December exceeded 50%. The cumulative sales volume for 2021 reached 1,391 thousand
units, down 14.1% yoy, the first decline in the past six years, but still the second highest in
history, second only to 2020. The main reasons are as follows: