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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 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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Invitation to presentation of EQT AB’s Q1 Announcement 2024




STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision,c3956826

The following files are available for download:

Invitation to presentation of EQT AB’s Q1 Announcement 2024,c3285895

EQT AB Group


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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs



  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update




VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (, a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit and connect with us on X and LinkedIn.


Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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