Summary by Futu AI
Weichai Power Co., Ltd. announced the interim financial statements and management discussion as of June 30, 2024, which were approved by the board of directors on August 22, 2024. The report shows that the company's revenue reached 112.49 billion RMB, an increase of 6% compared to the same period last year; net profit was 7.37 billion RMB, a significant increase of 54.1% compared to the same period last year; earnings per share were 0.68 RMB, an increase of 51.4%. The company's total assets were 343.59 billion RMB, total liabilities were 225.21 billion RMB, and shareholders' equity was 118.38 billion RMB. Cash and cash equivalents were 61.35 billion RMB. The report also provides detailed explanations of accounting policies, including business combinations, financial instruments, inventory, investment properties, fixed assets, construction in progress, asset impairments, foreign currency transactions, and treatment of long-term equity investments. In addition, the report includes relevant explanations of financial information such as contract assets and liabilities, borrowing costs, intangible assets, asset impairments, long-term prepaid expenses, and employee compensation.