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Chinese maker of diesel engines for trucks and construction equipment, and a major shareholder of Germany's KION Group (forklifts) and Shaanxi Heavy Truck.
Chinese maker of diesel engines for trucks and construction equipment, and a major shareholder of Germany's KION Group (forklifts) and Shaanxi Heavy Truck.
Sells diesel engines to truck and construction-equipment makers, with affiliate Shaanxi Heavy Truck a key customer, and earns from forklifts abroad through its large holding in KION, the German maker of Linde and STILL forklifts. Shandong Heavy Industry Group, owned by the provincial government, controls it.
In one line: China's Cummins, with a forklift/logistics-equipment arm attached.
Moat: narrow (scale, installed base, IP / patents). Leading domestic diesel engine scale plus strategic stakes giving it a forklift and heavy-truck value chain.
Headquarters: Weifang, China · Founded: 1946 · Employees: 101,440
Size Weichai Power (000338.SZ) is a China Consumer Discretionary company (Auto Parts: OEM) with a market value of $24.2B, the 80th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.61 on 6 Nov 2026.
Performance Over six months the shares fell 40.4%, against -3.9% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 8.3% over the last twelve months (peer median +12.3%); the operating margin is 7.4% (peer median 9.7%).
Valuation It trades at 11.0× forward earnings against a peer median of 21.2× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.7 points above its cost of capital (7.3% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥242B | CN¥232B | CN¥215B | CN¥213B | CN¥175B |
| Revenue growth | — | +7% | +1% | +22% | — |
| Gross profit | CN¥60.3B | CN¥46.7B | CN¥45.6B | CN¥42.1B | CN¥28.6B |
| EBITDA | n/a | CN¥27.8B | CN¥29.0B | CN¥24.3B | CN¥14.5B |
| Net income | CN¥12.7B | CN¥10.9B | CN¥11.4B | CN¥9.01B | CN¥4.91B |
| Free cash flow | CN¥19.1B | CN¥22.6B | CN¥19.4B | CN¥20.8B | -CN¥8.33B |
| Capital expenditure | CN¥5.47B | CN¥6.80B | CN¥7.36B | CN¥7.20B | CN¥6.64B |
| Total debt | CN¥91.4B | CN¥96.9B | CN¥87.4B | CN¥84.5B | CN¥79.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Weichai Power 000338.SZ | $24.2B | -40% | +8% | 7% | 11.0× | -6.1% |
| Cummins CMI | $62.0B | -34% | +3% | 11% | 13.8× | 11.6% |
| China Yuchai International CYD | $750M | -57% | +21% | 4% | 5.6× | n/a |
| FAW Jiefang 000800.SZ | $4.11B | -17% | +22% | -1% | 29.5× | n/a |
| Sinotruk Hong Kong 3808.HK | $12.3B | -12% | +38% | 7% | 9.4× | -3.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000338.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.1% | 0.0% | 2nd lowest of 21 |
| 6-month return | -40.4% | -3.9% | 2nd lowest of 21 |
| Distance from 52-week high | -48.8% | -21.2% | 3rd lowest of 21 |
| Revenue growth (TTM) | +8.3% | +12.3% | 10th lowest of 21 |
| Operating margin | 7.4% | 9.7% | 7th lowest of 21 |
| Forward P/E | 11.0× | 21.2× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -6.1% | 9.1% | least demanding of 21 |
| Growth delivered (Del g) | +3.3% | +9.3% | 2nd lowest of 21 |
| Hurdle (Req g minus delivered) | -9.4 pp | -1.2 pp | 4th least demanding of 21 |
| ROIC minus cost of capital | +4.7 pp | +1.5 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Weichai Power 000338.SZ | China | $24.2B | -40% | +8% | 7% | 11.0× | -6.1% | +3.3% |
| Shenzhen Inovance Technology 300124.SZ | China | $23.0B | -17% | +19% | 10% | 27.0× | 21.3% | +31.4% |
| Mobis 012330.KS | South Korea | $22.3B | -18% | +4% | 6% | 8.3× | -1.0% | +10.8% |
| Sumitomo Electric Industries 5802.T | Japan | $27.3B | -47% | +14% | 9% | 11.4× | 13.3% | +11.9% |
| ITT ITT | United States | $18.4B | 0% | +28% | 17% | 21.6× | 20.9% | +9.7% |
| Denso 6902.T | Japan | $32.5B | -1% | +7% | 7% | 12.1× | 3.4% | +8.8% |
| Jiangsu Hengli Hydraulic 601100.SS | China | $17.9B | -15% | +31% | 24% | 38.2× | 24.0% | +6.9% |
| Samvardhana Motherson International MOTHERSON.NS | India | $17.9B | +22% | +14% | 6% | 30.2× | 30.9% | +17.0% |
| Knorr-Bremse KBX.DE | Germany | $17.1B | -9% | +4% | 13% | 20.7× | 8.6% | +4.9% |
| Magna International MG.TO | Canada | $16.1B | +4% | 0% | 6% | 8.2× | 0.1% | +6.0% |
| Bosch BOSCHLTD.NS | India | $15.8B | +34% | +14% | 12% | 49.7× | 46.8% | +15.7% |
| Cummins India CUMMINSIND.NS | India | $11.9B | -25% | +15% | 19% | 43.5× | 39.5% | +22.7% |
| Ningbo Tuopu 601689.SS | China | $11.7B | -26% | +11% | 9% | 29.9× | 15.3% | +35.4% |
| Trelleborg TREL-B.ST | Sweden | $10.1B | +19% | +2% | 19% | 22.9× | 9.6% | +2.6% |
| Aisin 7259.T | Japan | $9.78B | -14% | +6% | 4% | 10.0× | -0.3% | +7.7% |
| Donaldson DCI | United States | $9.77B | -2% | +5% | 16% | 19.5× | 8.3% | +6.4% |
| Allison Transmission ALSN | United States | $9.65B | -6% | +71% | 20% | 11.0× | 2.6% | +7.7% |
| Niterra 5334.T | Japan | $9.01B | +5% | +16% | 19% | 9.9× | 4.0% | +11.3% |
| Autoliv ALV | United States | $8.89B | +2% | +4% | 10% | 11.0× | 2.6% | +7.7% |
| HELLA GmbH & Co. KGaA HLE.DE | Germany | $8.26B | -7% | -1% | 5% | 34.7× | 2.4% | +6.1% |
| UNO Minda UNOMINDA.NS | India | $8.11B | +16% | +19% | 8% | 53.6× | 46.9% | +25.0% |