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Weichai Power (2338) recently announced its plan to fully acquire a 55% stake in its subsidiary, Weichai Power Investment, for 685 million yuan. This move will increase the company's ownership from 45% to 100%, making Weichai Power Investment a wholly-owned subsidiary. The acquisition is expected to enhance Weichai Power’s influence over the Torch Motor Group Co., Ltd., further solidifying its leadership in the heavy truck industry.
Tan Xuguang, chairman of Weichai Power, highlighted that this transaction will strengthen the company’s position as the largest shareholder of Hunan Torch. He emphasized that the deal will enable greater collaboration and synergy between the two companies, opening up new opportunities for growth and development in the future.
In addition to strengthening its market presence, the acquisition is expected to unlock new business potential. By integrating more closely with Hunan Torch, Weichai Power aims to maximize operational synergies and reinforce its dominant role in the heavy truck sector. This strategic move is also seen as a step toward long-term sustainable growth.
Following the acquisition, Weichai Power’s stake in Hunan Torch Motor Group Co., Ltd. will rise from 12.69% to 28.12%. According to audited financial reports, the net asset value of Weichai Power Investment at the end of last year stood at 1.247 billion yuan, with a registered capital of 1.245 billion yuan.
Hunan Torch holds a 51% interest in Shaanxi Heavy Vehicle Corporation, one of China’s top five heavy vehicle manufacturers. Shaanxi Zhongqi is also a major client of Weichai Power. With the acquisition, Weichai Power will be better positioned to strengthen its relationships with key clients like Shaanxi Zhongqi. Moreover, the deal is expected to support Weichai Power’s expansion into international partnerships in the production, procurement, and sales of auto parts.
This acquisition underscores Weichai Power’s continued efforts to expand its influence within the automotive industry, particularly in the auto parts supply chain. As it moves forward, the company is likely to focus on leveraging its expanded ownership to drive innovation, efficiency, and global competitiveness.
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