Core Insights - The cyclical fluctuations in the heavy truck industry are being disrupted, as evidenced by Weichai Power's strong performance in Q3 2025, with revenue reaching 574.2 billion yuan, a year-on-year increase of 16.1%, and net profit of 32.3 billion yuan, up 29.5% [1][4] Financial Performance - For the first three quarters of 2025, Weichai Power reported total revenue of 1,705.71 billion yuan, a growth of 5.32% year-on-year, and a net profit attributable to shareholders of 88.78 billion yuan, increasing by 5.67% [1][4] - The third quarter alone set historical records for both revenue and net profit, indicating a robust growth trajectory [1][4] Business Growth Drivers - The growth is attributed to a combination of stable traditional business, breakthroughs in emerging sectors, and synergies across diverse business lines, particularly benefiting from the recovery in the natural gas heavy truck market [1][3] - The sales of Weichai's M-series large-bore engines exceeded 7,700 units in the first three quarters, marking a year-on-year increase of over 30% [2] Market Trends - The heavy truck market in China showed a strong recovery, with total sales reaching 823,000 units in the first three quarters of 2025, a year-on-year increase of 20.5% [3] - The demand for natural gas heavy trucks is rebounding due to policies promoting vehicle upgrades and the recovery of oil and gas price differentials, with a notable 37% year-on-year growth in Q3 [3] Product Development - Weichai has developed a comprehensive product matrix, including the WP16NG4.0 gas engine and the new H/T 2.0 high-efficiency engine, which significantly reduce operational costs for users [3][4] - The company has also launched its first power battery product using blade battery technology, enhancing its offerings in the new energy vehicle sector [3] International Expansion - Weichai's internationalization strategy has effectively mitigated cyclical fluctuations in the heavy truck industry, with the company having acquired 10 overseas enterprises, all of which are profitable [6][7] - The company is collaborating with leading firms like Accenture to develop AI-driven industrial vehicles and expand its market share in the Asia-Pacific region [7]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部份內容而產生或因依賴該等內容而引起的任何損失承擔任何責任。 濰柴動力股份有限公司 WEICHAI POWER CO., LTD. （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2338） 海外監管公告 本公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則第13.10B條 而 作 出。 茲載列濰柴動力股份有限公司（「本公司」）在深圳證券交易所網站刊登日期為 二 零 二 五 年 八 月 二 十 九 日 的 公 告，僅 供 參 閱。中 文 公 告 的 全 文 刊 登 於 聯 交 所 及 本 公 司 網 站。 承董事會命 董事長 馬常海 中國山東濰坊 二零二五年八月二十九日 於本公告刊發之日，本公司執行董事為馬常海先生、王德成先生、黃維彪先生、 孫 少 軍 先 生、袁 宏 明 先 生 及 馬 旭 耀 先 生；本 公 司 非 執 行 董 事 為 張 良 富 ...