Weichai Power announces dividend, addresses operational and governance updates

Weichai Power will distribute a cash dividend of 3.58 yuan per 10 shares, totaling over 3.1 billion yuan, from its distributable profits of over 62.4 billion yuan. This payout represents 57% of its semi-annual net profit attributable to shareholders, after accounting for share buybacks and restricted stock cancellations. The company's total assets grew by 6.23% to over 365.3 billion yuan, with revenue increasing by 0.59% to over 113.1 billion yuan. However, net profit attributable to shareholders decreased by 4.40% to over 5.6 billion yuan, primarily due to efficiency plan expenses at KION Group AG.

The semi-annual report also highlighted a board dispute regarding the transfer of heavy-duty truck manufacturing and sales qualifications from Shaanxi Automobile Group Co., Ltd. to Shaanxi Heavy Duty Automobile Co., Ltd., with director Yuan Hongming dissenting. The board maintains the accuracy of the disclosure, citing historical agreements and commitments. In operational news, engine sales reached 362,000 units, with M series large-bore engines increasing by 41%, and power battery sales growing by 91% to 2.3 GWh. The company also implemented several governance policy revisions, including those related to related party transactions, fund management, and internal controls.