Weichai Power
Encyclopedia
Weichai Power Company Limited or Weichai Power (、), parented
by Weifang Diesel Engine Factory is the state-owned enterprise in Weifang
, Shandong
, China
, specializing in the research and development
, manufacturing
and sales
of diesel engines. The products are used in vehicles, vessels
and power generators. It is the largest car accessories enterprise in China.
Weichai's H share
was listed on the Hong Kong Stock Exchange
in 2004 and its A share
was listed on the Shanghai Stock Exchange
in 2006. It is the first Hong Kong's H share to be listed on China's A share market.
Weichai was the subsidiary
company of Sinotruk
, but they split off and became competitors in 2006. They also involved a patent
dispute on Weichai's diesel engine splitters used by Sinotruk.
Parent company
A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company...
by Weifang Diesel Engine Factory is the state-owned enterprise in Weifang
Weifang
Weifang is a prefecture-level city in central Shandong province, People's Republic of China. It borders Dongying to the northwest, Zibo to the west, Linyi to the southwest, Rizhao to the south, Qingdao to the east, and looks out to the Laizhou Bay to the north.-History:Weifang is a historical city...
, Shandong
Shandong
' is a Province located on the eastern coast of the People's Republic of China. Shandong has played a major role in Chinese history from the beginning of Chinese civilization along the lower reaches of the Yellow River and served as a pivotal cultural and religious site for Taoism, Chinese...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, specializing in the research and development
Research and development
The phrase research and development , according to the Organization for Economic Co-operation and Development, refers to "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of...
, manufacturing
Manufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
and sales
Sales
A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
of diesel engines. The products are used in vehicles, vessels
Ship
Since the end of the age of sail a ship has been any large buoyant marine vessel. Ships are generally distinguished from boats based on size and cargo or passenger capacity. Ships are used on lakes, seas, and rivers for a variety of activities, such as the transport of people or goods, fishing,...
and power generators. It is the largest car accessories enterprise in China.
Weichai's H share
H share
H shares In mainland China, the shares are referred to as H股 H shares, whilst in Hong Kong, they are called 恒生中國企業指數, literally Hang Seng China Enterprises Index. refers to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange...
was listed on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
in 2004 and its A share
A share
In finance the term A share has two distinct meanings, both relating to securities.* The first is a designation for a 'class' of common or preferred stock. A shares of common or preferred stock typically have enhanced voting rights or other benefits compared to the other forms of shares that may...
was listed on the Shanghai Stock Exchange
Shanghai Stock Exchange
The Shanghai Stock Exchange , abbreviated as 上证所/上證所 or 上交所, is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other is the Shenzhen Stock Exchange...
in 2006. It is the first Hong Kong's H share to be listed on China's A share market.
Weichai was the subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
company of Sinotruk
Sinotruk
Sinotruk may represent the following:*China National Heavy Duty Truck Group: or Sinotruk Group, a state-owned truck manufacturing enterprise in the People's Republic of China....
, but they split off and became competitors in 2006. They also involved a patent
Patent
A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention....
dispute on Weichai's diesel engine splitters used by Sinotruk.