Weichai Power Co Ltd<000338><2338>, one of China's largest manufacturers of diesel engines, said its net profit attributable to shareholders surged 224.99% year on year, hitting RMB 1.16 billion, with earnings per share reaching RMB 1.39, sources reported.

According to the company's filing with the Shenzhen Stock Exchange, revenue amounted to approximately RMB 9.64 billion in the third quarter, representing a robust increase of 29.31%.

During the period from January to September, the firm's total revenue fell to RMB 25.44 billion, down 10.54% from a year earlier. Net profit attributable to shareholders rose 18.06% year on year to RMB 2.38 billion. EPS were RMB 2.86.

The Capital Group Companies Inc, one of the world's largest investment management organizations, recently reduced its shareholding in Weichai Power Co Ltd to 11.61% from the previous 12.32%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from HKEx showed that The Capital Group on Oct. 7 sold 1.44 million H shares of Weichai Power for HK$63.3 million. The average share price of the transaction was HK$44.03 apiece, China Knowledge reported earlier.

H shares of Weichai Power rose 2.08% to close at HK$54.05 on Friday.