2024 ANNUAL RESULTS OF WEICHAI POWER

(2025-03-27)

Liu Ning, Party Secretary of Henan Province, and Wang Kai, Deputy Party secretary and Governor of Henan Province, led a delegation to Shandong from March 22 to 23. Lin Wu, Party Secretary of Shandong, Zhou Naixiang, Deputy Party secretary and Governor of Shandong, and Wang Yuyan, Deputy Party Secretary of Shandong and Secretary of the Political and Legal Committee attended relevant activities.

(2025-03-24)

In the morning of March 19, the cooperation symposium between Shandong Heavy Industry Group and Shandong University and the signing activity of strategic cooperation between Weichai Group and Shandong University were held at the central campus of Shandong University. Ren Youqun, Secretary of the Party Committee of Shandong University, and Li Shucai, president of Shandong University, met with Man Shengang, Secretary of the Party Committee and chairman of Shandong Heavy Industry Group. Li Shucai and Man Shengang attended the discussion and exchange activities and delivered speeches.

(2025-03-19)

From February 26 to March 1, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, went to Dubai, Abu Dhabi and Anayn in the United Arab Emirates to conduct field research on overseas market development, visit strategic partners and major customers, attend important cooperation signing activities, further promote the local market layout and group business coordination, and accelerate the landing of internationalization strategy. Zhang Gengsheng, member of the Party Committee and deputy general manager of Shandong Heavy Industry Group, participated in the research as well.

(2025-03-02)

KION Group presented its 2024 financial results at its headquarters in Frankfurt on February 27. The Company's fiscal year 2024 was marked by stable operations and strong performance - revenue increased slightly to €11.503 billion (2023: €11.434 billion); adjusted EBIT increased significantly to €917.2 million (2023: €790.5 million); adjusted EBIT margin increased to 8.0% (2023:6.9%); free cash flow reached €702 million (2023: €715.2 million) driven by strong results and significantly lower net working capital; consolidated net income increased year-on-year rising to 369.2 million euros (2023:314.4 million euros).

(2025-02-28)

From February 23 to 25, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, went to Saudi Arabia and Kuwait to investigate the development of export business, held a special dispatching meeting on the Middle East market, and visited strategic partners and major customers. Zhang Gengsheng, Member of the Party Committee and Deputy General Manager of the Group, participated in the investigation.

(2025-02-26)

On February 25, the Off-line Delivery of Weichai's 800,000th and Launch of New-generation WP16NG4.0 Gas Engine was held in Chengdu with the theme of "Igniting the Future, Powering the Landscape", which once again demonstrated Weichai's unshakable hard core strength in the field of natural gas engines for commercial vehicles. Dealers, customer representatives, media reporters and other guests from across China witnessed this glorious moment.

(2025-02-25)

On February 20, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, arrived in Weifang to investigate Weichai Lovol Agricultural Machinery Factory and Weichai Central Research Institute, and discussed with Weichai's technology talents. Liu Yun, Secretary of the CPC Weifang Municipal Committee, and Ma Changhai, Member of the Party Committee and Deputy General Manager of the Group, participated in the investigation.

(2025-02-20)

On February 2, the comprehensive resumption of operations across Weichai Group’s manufacturing system marked the first day back at work after the Chinese New Year. To usher in the year with a clear focus, the company convened a post-holiday safety “First Lesson” meeting. This initiative aimed to invigorate all personnel with heightened safety awareness, enforce accountability at every operational level, and ensure employees shift their focus promptly back to work, stepping seamlessly into their roles and responsibilities.

(2025-02-02)

On February 1, coinciding with the fourth day of the Chinese New Year, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, embarked on a comprehensive visit to Asiastar Bus and Yangzhou Diesel Engine in Yangzhou City. These entities, affiliated with the Group, have commenced production, and Man took the opportunity to meet and extend his regards to the frontline workers. Accompanying him on this visit were Zhang Li, a standing member of the CPC Yangzhou Municipal Committee and Secretary of the Party Working Committee of the Yangzhou Economic and Technological Development Zone, as well as Ma Changhai, a member of the Group’s Party Committee and Deputy General Manager.

(2025-02-01)

On January 27, the day before the Chinese New Year’s Eve, Shandong Heavy Industry Group held a virtual New Year celebration connecting both domestic and overseas employees. Man Shengang, Secretary of the Party Committee and Chairman of the Group, led the leadership team of the Group and its affiliated enterprises in a video call with overseas staff. They extended heartfelt greetings and New Year wishes to those who are steadfastly working on the frontlines of overseas markets, as well as to employees stationed at overseas subsidiaries.

(2025-01-27)

In the morning of January 25, with the arrival of the Chinese New Year, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, visited Zhangjiarui, a veteran leader, and Wang Wenyang, a worker in distress, and sent them holiday greetings and Spring Festival wishes.

(2025-01-25)

On the occasion of the New Year of Yisi Snake Year, Wang Zhijian, Ye Jianjun and Ma Changhai, members of the Party Committee of Shandong Heavy Industry Group, respectively represented the Party Committee of Shandong Heavy Industry Group and Party Secretary Man Shengang in Jinan, Weifang, Jining, Linyi and other places to carry out New Year visit activities.

(2025-01-25)

Following the Shandong Heavy Industry Group's 2025 annual conference on January 18, a wave of enthusiasm for action and innovation has swept across various sectors of the Group. There is a strong emphasis on benchmarking, innovative excellence, and collaborative efforts. The group is vibrant with the spirit of perseverance, filled with the passion for pursuing dreams, and energized by a commitment to practical work, aiming to take on new responsibilities and achieve new accomplishments both provincially and nationally.

(2025-01-21)

On January 20, Weichai Group held a leadership meeting to convey and learn from the spirit of Shandong Heavy Industry Group's 2025 Annual Conference. The meeting aimed to further clarify objectives, strengthen confidence, and inspire enthusiasm, driving Weichai to new heights and achievements, while continuing to lead and play a pivotal role in the high-quality development of Shandong Heavy Industry Group.

(2025-01-20)

On January 18, the 2025 annual conference of Shandong Heavy Industry Group was held in Jinan. The conference reviewed the Group's economic performance for 2024, analyzed the current internal and external challenges, and strategically planned the key priorities for 2025, so as to set the stage for embarking on a new journey, reaching new heights, and achieving new accomplishments. Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, delivered a speech titled "Never Resting, Always Leading, Striving for Excellence: Accelerating Towards a World-Class Multinational High-end Equipment Group." The conference was presided over by Wang Zhijian, Deputy Secretary of the Party Committee and General Manager, while Ye Jianjun, Deputy Secretary of the Party Committee and Director, announced the commendation decisions.

(2025-01-18)

On January 17, Man Shengang, Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, met in Jinan with the management teams from 8 overseas subsidiaries, including KION Group (Germany), Ferretti Group (Italy), PSI (USA), Dematic (USA), Baudouin (France), Linde Hydraulics (Germany), Argo-Hytos (Germany), and VDS (Austria). The meeting focused on reviewing the 2024 business performance and discussing key priorities for 2025. Shandong Heavy Industry Group’s Deputy Secretary of the Party Committee and General Manager, Wang Zhijian, along with other senior executives, attended the meeting.

(2025-01-17)

On January 13, witnessed by Weichai Lovol Intelligent Agricultural Technology’s employees and customer representatives, a brand-new Lovol GM5125 combine harvester rolled off the production line, marking a historic milestone—the production of the 600,000th Lovol combine harvester.

(2025-01-14)

On January 13, Weichai Lovol Intelligent Agricultural Technology convened a “Fight for the First Quarter, Secure a Strong Start” mobilization conference. Wang Guimin, Secretary of the Party Committee and Chairman, delivered a rallying speech to motivate the team. Leaders at or above the section chief level and representatives of outstanding team leaders attended the meeting.

(2025-01-13)

As the Chinese New Year approached, from January 10 to 12, Ye Jianjun, Deputy Secretary of the Party Committee and Chairman of the Labor Union of Shandong Heavy Industry Group, led a delegation to Mohe, Heilongjiang, on behalf of Man Shengang, Secretary of the Party Committee and Chairman of the Group. The delegation visited and extended care to the company’s “Three Highs” Test Team, conducted an on-site inspection of the progress in cold-region testing, and later traveled to Harbin to meet with front-line marketing staff. They also held a discussion forum and listened to reports from the local offices of the Group’s affiliated enterprises.

(2025-01-12)

From January 8 to 9, the Weichai Lovol Intelligent Agricultural Technology 2025 Partner Conference, themed “We Are One,” was held in Weifang. Over 1,000 dealers from across the country gathered in the city, known as the Kite Capital, to collectively review the achievements of 2024 and chart a new course for 2025 under the strategy of “Strategic Alignment, Customer Focus, and High-End Leadership.”

(2025-01-09)

The 2025 Weichai Lovol Intelligent Agriculture Global Suppliers Conference, themed "Move Forward, Lead Courageously, and Aim for Number One", took place on January 6. Man Shengang, Secretary of the Communist Party of China (CPC) Committee and Chairman of Shandong Heavy Industry Group, and Yang Shengyan, Member of the Standing Committee of CPC Weifang Municipal Committee and Deputy Mayor, delivered speeches. Wang Zhijian, Deputy Secretary of the CPC Committee and General Manager of Shandong Heavy Industry Group, and Ma Changhai, Member of the CPC Committee and Deputy General Manager, attended the conference. Over 500 suppliers and partners of Weichai Lovol attended the conference.

(2025-01-06)

On January 3, Lovol held its 2025 Quality Conference themed "Uniting for Future Success with High Quality" and a mobilization meeting titled "Strive for Q1 Success" in the Weichai L Lovol Intelligent Heavy Industry Factory Campus.

(2025-01-06)

On January 3, Liu Jingzhen, Party Secretary and Chairman of China Logistics, and Liao Jiasheng, Deputy Party Secretary and General Manager, met in Beijing with Man Shengang, Party Secretary and Chairman of Shandong Heavy Industry Group, and Wang Zhijian, Deputy Party Secretary and General Manager. The meeting focused on comprehensively deepening cooperation, developing based on the integration of two industries, and sharing innovative technologies. Li Xiangyang, member of the Standing Committee of the Party Committee and Deputy General Manager of China Logistics, along with Ma Changhai, member of the Party Committee and Deputy General Manager of Shandong Heavy Industry Group, also attended the meeting.

(2025-01-04)

On January 2,Weichai Group held a mobilization meeting titled "Strive for Q1 Success" to kick off the new year.

(2025-01-02)

In the fourth quarter (Q4), Lovol H.I., in an active response to the Group's call for "Fighting in Q4, Resolutely Completing the Targets and Tasks of the Year", went all out to seize the market shares, take orders, and ensure delivery. As a result, it achieved remarkable results in cost reduction, quality improvement, and efficiency enhancement. Now, Lovol H. I. is full of energy to sprint in the fourth quarter.

(2024-12-27)

Recently, Changhang Group and Weichai Group jointly convened a training and exchange meeting on the WH20 micro-injection ignition LNG engine in Chongqing. The two sides will keep working together to promote technological innovation and market application in the field of clean energy ship engine, and contribute to the sustainable development of the Yangtze River shipping industry.

(2024-12-27)