Monday, December 22, 2008

Weichai '08 sales revenue to exceed 50 bln yuan

Weichai Power Co Ltd will achieve 2008 sales revenue exceeding 50 billion yuan ($7.3 billion) this year, and aims to double that to more than 100 billion yuan by 2012, its chairman Tan Xuguang said, reported by China Securities Journal on Monday.

Weichai Power Co, the parent company of listed Weichai Power Co (2338.HK) (000338.SZ) and Shandong Juli Co (000880.SZ), recorded sales revenue of 40.88 billion yuan in 2007. Listed Weichai Power posted sales of 28.43 million yuan for the first three quarters of this year.

Tan said that foreseeing the negative impact brought by the economic downturn, Weichai made some strategy adjustments almost one year in advance. In future the company would further cut down its engine sizes and would focus on development of truck engines between 5 and 7 liters.

Waichai also plans to expand its product portfolio to include the excavator, driller and others, the report added.

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