Fintech PR
Two Decades Post-IPO, Weichai Power’s Market Value Soars 30-Fold, Distributing RMB 28 Billion in Dividends
A Legacy of Growth: Weichai Power Champions Unprecedented Expansion and Returns
Innovation Through Unity: Weichai Leads with a Vision for Shared Value Development
WEIFANG, China, March 26, 2024 /PRNewswire/ — Weichai Power Co., Ltd. (2338.HK, 000338.SZ), in its latest annual report released on March 26, unveiled significant financial achievements for the year 2023. The company recorded revenue of RMB 213.96 billion, a notable increase of 22.2% compared to the previous year. Net profit attributable to shareholders surged by 83.8% to RMB 9.01 billion, while basic earnings per share jumped 84.5% to RMB 1.04.
In a move reflective of its commitment to shareholder returns, Weichai Power announced an enhancement of its dividend strategy, increasing the cash dividend ratio to 50% for the year. This strategic decision underscores the company’s robust financial health and its focus on sustaining high returns for its investors.
Weichai Power Co., Ltd. commemorated the 20th anniversary of its Hong Kong listing with a seminar on March 26 in Weifang, China, attended by a wide range of participants from the global financial community, investors, and media. The event highlighted the company’s journey of reform and innovation over the past two decades. Tan Xuguang, chairman of Shandong Heavy Industry Group, Weichai Power, and China National Heavy Duty Truck Group, delivered a keynote speech, “Growth, Value, Future”, discussing the company’s five strategic models and four development approaches.
In 2004, Weichai Power became the first company from China’s internal combustion engine sector to go public in Hong Kong, raising US$170 million and setting a record with its initial offering being oversubscribed by 928 times and international placement oversubscribed by 52 times, the highest since 1998. Following China’s market reforms in 2007, Weichai Power completed a merger with Torch Automobile Group, resulting in a Shenzhen Stock Exchange listing. This innovative approach marked Weichai Power as the first company to transition from an H-share to an A-share listing through a merger, a move recognized for its creativity in the global financial market. This strategy has been instrumental in advancing Weichai Power’s international presence and has laid the foundation for further domestic and international mergers and acquisitions.
In an aggressive move in 2005, Weichai Power Co., Ltd. laid down RMB 1.02338 billion for Torch Automobile Group, in what was then the largest cash acquisition deal in China’s capital markets. This strategic merger not only brought together Weichai’s engines, Fast Gear’s transmissions, and Hande’s axles into a pioneering “golden powertrain integration” model but also reversed integrated giants like Shaanxi Heavy Duty Automobile, Lovol Agricultural Equipment and Lovol Construction Machinery. The ambitious amalgamation has propelled Weichai to the forefront of the heavy machinery sector, claiming top spots in global sales for its heavy-duty engines and transmissions, as well as leading positions in China’s agricultural equipment, axle and heavy-duty truck markets.
In 2009, Weichai Power’s acquisition of the French company Baudouin marked the company’s inaugural venture into the international market, signaling a strategic pivot towards global capital markets. This acquisition spearheaded a series of international acquisitions, including but not limited to, Kion Group (Germany) and Linde Hydraulics (Germany), PSI (US), Ceres (UK), Ballard Power Systems (Canada), Aradex (Germany), VDS (Austria), and Fischer (Switzerland). These acquisitions have enabled Weichai Power to focus on key strategic areas including large bore high power density engines, advanced hydraulics, continuously variable transmission (CVT) powertrains, and fuel cell technology, culminating in the creation of a leading-edge intelligent logistics industrial chain. Weichai Power’s international footprint, as measured by its transnational index, has reached 48.57%, underscoring the company’s prominence on the global stage.
Over the past two decades, Weichai Power has evolved into a global conglomerate with diversified interests spanning power systems, commercial vehicles, agricultural machinery, and intelligent logistics solutions. Financially, the company has seen a remarkable trajectory of growth. From 2004 to 2023, revenue surged from RMB 6.2 billion to RMB 214 billion, reflecting a thirty-threefold increase. Net profit attributable to the parent company escalated from RMB 540 million in 2004 to RMB 9.01 billion in 2023, marking a sixteen-fold increase. This financial growth underscores Weichai Power’s comprehensive capabilities, exceptional investment value, and widespread brand recognition across the capital markets. The company’s total market value has exceeded RMB 140 billion, a 30-fold increase since its listing. Weichai Power has witnessed exceptional market value growth, surpassing 40 times its initial listing value. Over the past 20 years, the firm has distributed dividends exceeding RMB 28 billion.
The Weichai chairman, Tan Xuguang, reflected on the company’s journey, emphasizing how the two decades of collaborative efforts and mutual success have cemented a formidable partnership network worldwide. At Weichai Power, we envisage “growth, value, and future” as our core guiding principles. “Growth” is interpreted as the ambition to rank among the world’s leading enterprises. “Value” signifies our aspiration to be acknowledged as a globally respected powerhouse. Looking ahead, Weichai Power is poised for an even more promising future, characterized by ceaseless energy, boundless potential, and enduring excellence. We remain a beacon of innovation and leadership, continually attracting the attention and support of stakeholders globally.
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View original content:https://www.prnewswire.co.uk/news-releases/two-decades-post-ipo-weichai-powers-market-value-soars-30-fold-distributing-rmb-28-billion-in-dividends-302099717.html
Lending revenue dips against backdrop of record-high indices
NEW YORK, Jan. 2, 2025 /PRNewswire/ — The global securities finance industry generated $9.64 billion in revenue for lenders in 2024, according to DataLend, the market data service of fintech EquiLend. The figure represents a 10.3% decrease from the $10.74 billion generated in 2023.
Global broker-to-broker activity, where broker-dealers lend and borrow securities from each other, totaled an additional $2.57 billion in revenue for 2024, a 9.9% decrease from 2023.
Equity lending revenues fell 13% globally, with North America revenue declining 15% and EMEA revenue dropping 24%. In North America, the cause for the revenue decline was a 19% decrease in average fees, while in EMEA, fees and balances decreased 16% and 11%, respectively. Equity lending revenues in APAC were largely flat year-over-year.
Global sovereign debt revenue increased by 8% over 2023, with U.S. treasuries making up the lion’s share of the gains. Treasuries were up 16% year-over-year, driven by a 14% growth in balances.
In corporate debt lending, global revenue declined by 21% as a regression from a record 2023 continued. Fees were the main culprit, with a steep 29% decrease driving the year-over-year decline in revenue.
The top five earning securities in 2024 were Sirius XM Holdings (SIRI US), Lucid Group (LCID US), Beyond Meat Inc. (BYND US), Tempus AI Inc. (TEM US) and Trump Media & Technology Group (DJT US). The five securities in total generated $644 million for lenders over the course of 2024, a significant dip from the $1.11 billion generated by 2023’s top five earners.
Bloomberg Terminal users can subscribe to EquiLend’s exclusive Orbisa securities lending data by entering terminal shortcut APPS ORBISA About DataLend About EquiLend Logo – https://mma.prnewswire.com/media/1060364/EquiLend_Logo.jpg
DataLend, the market data service within EquiLend’s Data & Analytics Solutions group, tracks daily market movements across more than 200,000 securities, covering $35 trillion in lendable assets and $2.6 trillion in on-loan assets for the securities finance market. www.datalend.com
EquiLend is a global financial technology firm offering Trading, Post-Trade, Data & Analytics, RegTech and Platform Solutions for the securities finance industry. EquiLend has offices in North America, EMEA and Asia-Pacific and is regulated in jurisdictions around the globe. www.equilend.com
View original content:https://www.prnewswire.co.uk/news-releases/datalend-2024-securities-lending-revenue-down-10-yoy-to-9-64-billion-302341418.html
NEW YORK, Jan. 2, 2025 /PRNewswire/ — In a dynamic and increasingly complex business environment, small businesses across the USA are experiencing a growing need for expert financial management solutions. Bookkeeping in USA, a critical yet often overlooked business function, is proving essential for companies striving to stay competitive, compliant, and efficient.
Recent studies highlight the importance of tailored bookkeeping solutions to address challenges such as fluctuating tax laws, rising operational costs, and stringent compliance requirements. The demand for professional bookkeeping services in USA has surged, showcasing their role in fostering small business resilience and growth.
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The Role of Bookkeeping in Small Business Success
Bookkeeping in USA offers small business owners’ clarity and control over their financial health. As the business landscape evolves, it is becoming a strategic necessity rather than just a support function. Challenges like tax compliance, cash flow management, and accurate financial reporting require dedicated expertise, which many small business owners find daunting to handle independently.
Insights from Industry Experts
“Small businesses are the backbone of our economy, and they deserve tools that empower them to succeed,” says Ajay Mehta, CEO of IBN Technologies. “Bookkeeping services enable entrepreneurs to focus on their strengths while ensuring their financial bases are secure.”
IBN Technologies has positioned itself as a leader in this space, offering streamlined bookkeeping services that align with industry standards and leverage cutting-edge technology. The company’s solutions are designed to help businesses avoid costly financial missteps, manage cash flow effectively, and maintain compliance with ever-changing regulations.
Modernizing Bookkeeping with Technology
The adoption of cloud-based bookkeeping solutions marks a transformative step forward for small businesses. Real-time access to financial data, enhanced security, and seamless collaboration between business owners and financial experts have made these tools indispensable. IBN Technologies integrates state-of-the-art technology into its services, ensuring clients can monitor their finances anytime, anywhere.
Addressing Tax Compliance and Financial Challenges
One of the most significant challenges for small businesses in the USA is navigating the complex web of federal and state tax laws. IBN Technologies specializes in offering tax-ready to serve bookkeeping in USA that not only mitigate the risk of audits but also identify potential tax savings. This dual approach has enabled many businesses to achieve better financial outcomes while reducing stress.
About IBN Technologies
IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
Contact Details:
Pradip
[email protected]
+1 – 844 – 644 – 8440
USA:
IBN Technologies LLC
66 West Flagler Street Suite 900 Miami, FL 33130
India: Global Delivery Centre
IBN Technologies Limited
Kohinoor House, 2nd floor,
691/A/1B, Plot no. 7,
Bibwewadi Road, Pune-411037
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View original content:https://www.prnewswire.co.uk/news-releases/bookkeeping-in-usa-empower-business-growth-and-success-with-ibn-technologies-302341224.html
Fintech PR
CUBE COMPLETES ACQUISITION OF THOMSON REUTERS REGULATORY INTELLIGENCE AND ODEN BUSINESSES
- Acquisition delivers an expanded customer base with a deep global subject matter expertise network that further powers CUBE’s RegBrain AI across its industry proven SaaS RegPlatform™
- CUBE continues to see strong organic customer growth in its well-established enterprise sector whilst also accelerating growth across the mid-market sector
- 2024 was a year of strategic milestones for CUBE including the partnership with Hg, expanding its global footprint across six main hubs, the acquisition of Reg-Room and Thomson Reuters Regulatory Intelligence and Oden businesses, together with pivotal board and executive appointments
LONDON, Jan. 2, 2025 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), has today formally announced the completion of its acquisition of the Thomson Reuters Regulatory Intelligence and Oden businesses on 31 December 2024.
The acquisition of these global businesses is another step forward in CUBE’s growth plans as a leader in regulatory intelligence. It will supplement and enhance CUBE’s ability to deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s global customer base will expand to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s Founder and CEO, Ben Richmond, said: “The completion of this acquisition is a major milestone for CUBE in a year that has seen many important milestones including our strategic partnership with Hg, the acquisition of Reg-Room, and the acquisition of Thomson Reuters Regulatory Intelligence and Oden businesses.”
“Thomson Reuters is best known in the industry for providing regulatory analysis and subject matter expertise combined with world-leading journalism and news,” said Ben Richmond. “The powerful combination of CUBE’s AI and the years of human generated content curated by Thomson Reuters Regulatory Intelligence and Oden subject matter experts sets us apart in the industry. This new dimension at CUBE will accelerate innovation and drive further growth and opportunity in 2025 and beyond.”
Following the announcement of its strategic partnership with Hg in March 2024, CUBE has now completed two transformational US-based acquisitions across three businesses whilst continuing to assemble a highly experienced executive team. CUBE’s continued impressive growth saw its presence in the enterprise sector surpassing 200 customers and now represents around 40% of Tier 1 financial institutions globally. In the mid-market sector, serving small and medium sized enterprises, CUBE now has near 800 customers.
With this growth CUBE solidified its global footprint by establishing offices across its six main hubs focused on customer support and implementation; with the number of employees at CUBE doubling to near 700 and a comparable increase in the number of countries where CUBE’s employees are located, which now totals 15 countries.
Ben Richmond said: “We are excited to welcome all of our new colleagues to CUBE – 2025 promises to be yet another significant year for the business as we continue to deliver further innovation focused on automating regulatory compliance and risk management for our customers.”
The definitive agreement was originally announced in May 2024 and terms were not disclosed.
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View original content:https://www.prnewswire.co.uk/news-releases/cube-completes-acquisition-of-thomson-reuters-regulatory-intelligence-and-oden-businesses-302341226.html
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