Weichai plans to transfer its controlling stake in a subsidiary! Revenue exceeded 1 billion in two years
Recently, the Shandong Property Rights Trading Center announced that Weichai Power Co., Ltd. (hereinafter referred to as "Weichai Power") intends to transfer 62% of the state-owned equity of Shandong Wuxing Vehicle Co., Ltd. (hereinafter referred to as "Wuxing Vehicle"). After the transfer is completed, the controlling stake of Wuxing Vehicle will change.
According to the data, Wuxing Vehicle was established in August 2022 and is jointly owned by Weichai Power, Weichai Holdings Group Co., Ltd., and CITIC Electromechanical Manufacturing Co., Ltd. In 2021, Weichai Group completed its strategic restructuring of Weichai Lovol Smart Agriculture. Based on its development strategy, Five Star Vehicles emerged the following year, with the then Vice General Manager of Weichai Group and General Manager of Weichai Lovol serving as the legal representative and chairman. According to the announcement, as of November 2023, Wuxing Vehicle has achieved a revenue of 1.437 billion yuan, which means that the company has crossed the 1 billion threshold in less than two years since its establishment. At the same time, the company's profit increased from a loss of 8.71 million yuan in 2022 to over 10 million yuan last year, turning losses into profits.
Article source: Reprinted from Fangde.com