On September 9, WEICHAI POWER rose 4.13% in regular trading, trading at HK$33.1 per share with turnover of HK$58.74 million, fully recovering the prior session's decline triggered by profit-taking after its Hang Seng Index inclusion.
On the news front, the company's latest investor relations activity record revealed that first-half data center diesel generator sales exceeded 1,400 units, surpassing the full-year sales volume of the prior year. Gas-fired generator products are expected to begin deliveries this year, while SOFC production capacity construction is accelerating. Separately, BlackRock increased its long position in the company to 7.16%.
Fundamentally, the company reported H1 revenue of RMB 123.16 billion, up 8.85% year-over-year, with net profit attributable to shareholders of RMB 7.7 billion, up 36.46%. Power and energy engine sales reached 65,000 units in H1, a 31.3% year-over-year increase. Morgan Stanley recently raised its net profit forecasts for the company by 15% for the next two years, citing stronger AIDC product growth prospects, maintaining an Overweight rating with a HK$46 target price. Bank of America also maintained a Buy rating with a target of HK$47.5.
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