Weichai Power (HKG:2338) shares are soaring 5% in intraday trading following the release of impressive financial results for 2024. The Chinese powertrain manufacturer reported a substantial 27% increase in attributable profit, reaching 11.4 billion yuan, surpassing analysts' expectations.

The company's earnings per share (EPS) also saw a significant boost, climbing 27% to 1.31 yuan from 1.04 yuan in the previous year. This performance exceeded the Visible Alpha analysts' estimate of 1.27 yuan per share. Additionally, Weichai Power reported a modest 0.8% growth in revenue, totaling 215.7 billion yuan, although this figure fell slightly short of the 218.8 billion yuan forecasted by analysts.

Investors are responding positively to the news, particularly to the company's decision to declare a final dividend of 0.347 yuan per share. The strong financial results, coupled with the dividend announcement, have fueled investor confidence, driving the stock's impressive 5% gain. This surge builds upon the initial 3% rise observed earlier in the trading session, indicating sustained momentum following the earnings release.