Weichai Power expects annual net profit to increase by more than 60% year-on-year last year

Reuters Hong Kong, January 21 --- Weichai Power, China's largest diesel engine manufacturer, said it expects its 2009 net profit to increase by 60-100% year-on-year, due to the significant growth in heavy-duty trucks and construction machinery markets in the second half of last year. The price of raw materials fell.

Weichai Power’s announcement stated that it is expected that the net profit attributable to shareholders of listed companies in the previous year will be about RMB 317-37 billion, compared with RMB 1.93 billion in the same period of 2008.

2009 earnings per share is expected to be about 3.72-4.44 yuan.

Weichai Power's H shares closed at HK$72 on Wednesday, a cumulative increase of 19.3% over the past month. Its A shares closed at 72.45 yuan on Wednesday.

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