FAW Jiefang recently released its 2024 annual report. According to the report, the company achieved revenue of RMB 58.581 billion and a net profit of RMB 659 million in 2024, and its total assets reached RMB 72.749 billion, representing a year-on-year increase of 6.85%.

 

Despite intense price competition in the industry, FAW Jiefang demonstrated the strategic resilience of a leading enterprise through steady growth. In 2024, the company sold 251,100 vehicles, up 3.9% year-on-year. Among them, medium and heavy-duty truck sales reached 214,000 units, a year-on-year increase of 4.3%, maintaining the top spot in terminal market share for the ninth consecutive year. The company's industry market share rose by 0.7 percentage points to 20.9%.

 

In the field of new energy commercial vehicles, FAW Jiefang accelerated its product deployment and market coverage, expanded its lineup of medium and heavy-duty vehicles, and expedited the development and validation of proprietary powertrains and new models. In 2024, it sold 15,900 new energy vehicles, a year-on-year increase of 121%, marking the second consecutive year of doubling growth.

 

FAW Jiefang also maintained its leading position in the natural gas heavy truck segment for the fourth straight year, with sales hitting 57,000 units in 2024, reflecting a year-on-year increase of 11.8% and a market share exceeding 30%. Additionally, recently, several ministries and commissions jointly issued a Notice on Scrapping and Renewing Aging Commercial Trucks, including natural gas heavy trucks in the subsidy program for the first time. Industry analysts believe that FAW Jiefang stands to be the primary beneficiary of this policy incentive.

 

In terms of overseas market expansion, FAW Jiefang pressed ahead with its globalization strategy. In 2024, the company exported 57,000 vehicles, a year-on-year increase of 27.4% and a record high, marking the fourth consecutive year of rapid growth in overseas sales. Its export products now reach over 80 countries and regions, with high-end heavy trucks making accelerated inroads into markets such as Southeast Asia, the Middle East, Latin America, Africa, and Eastern Europe.

 

FAW Jiefang also released its 2024 Environmental, Social and Governance (ESG) Report, marking the seventh consecutive year the company has published such a report. The report shows that in 2024, the company helped its customers save over 300 million liters of fuel and significantly reduced logistics costs across society. It also made strong progress in carbon reduction throughout the entire production process, cutting total carbon emissions by 50,000 tons.