Weichai Power, a leading Chinese powertrain producer in Shandong province, posted a 37.42 percent year-on-year net profit growth in the first half of this year, according to the company's semiyearly report released on Aug 30.

A technician operates machinery at Weichai Power, a leading Chinese powertrain producer in Shandong. [Photo provided to China Daily]

The company's powertrain business registered a robust performance in the January-June period, with operating revenue reaching 126.39 billion yuan ($19.55 billion), up 33.75 percent year-on-year, and net profit hitting 6.4 billion yuan.

The company said its powertrain sector, which includes engines, transmissions and axles, posted a record-breaking performance in the January-June period - it sold 671,000 engines and 802,000 gearboxes during the period, up 42.8 percent and 32.4 percent year on year respectively.

Its high-end products also gained momentum during this period. The revenue of large-bore engines reached 520 million yuan, up 24.2 percent year-on-year.

The company's overseas business and sales of intelligent logistics supply chain solutions had also increased.

According to the report, the recovery of the industrial vehicles and services sectors and the continuous growth of supply chain solutions helped KION Group AG, the overseas holding subsidiary of Weichai Power, perform well in various operating indicators in the first half of the year, achieving a sales revenue of 4.97 billion euros, up 26.5 percent year-on-year.