JINAN-- Weichai Power Co Ltd, a leading Chinese powertrain producer, Tuesday posted a 27.2 percent year-on-year growth in net profit for 2018.

In its annual financial results filed to the Shenzhen Stock Exchange, Weichai, listed both in Shenzhen and Hong Kong, said its net profit attributable to shareholders reached 8.66 billion yuan (1.29 billion U.S. dollars) last year.

Meanwhile, the business revenue of the company stood at 159.26 billion yuan, up about 5.1 percent year on year.

In 2018, it sold 363,000 units of its heavy-duty truck engines and 869,000 units of heavy-duty truck gearbox, with a market share of 31.6 percent and 75.7 percent respectively.

Shares of Weichai closed 0.36 percent higher at 11.24 yuan Tuesday in Shenzhen as the Shenzhen Composite Index fell 1.95 percent.