Weichai Power Sees HK$1.34 Billion Share Transfer, Accounting for 2.10% of Total Holdings

Stock News
Sep 09

Data from the Hong Kong Stock Exchange shows that on September 8, Weichai Power Co.,Ltd. (02338) experienced a notable shift in shareholdings, with a total transfer value of HK$1.342 billion, representing 2.10% of the company's issued shares. A major shareholder transferred 25.6177 million shares to Hongkong and Shanghai Banking Corporation, while simultaneously moving 34.1469 million shares out of Citibank's custody.

In a recent research note, Morgan Stanley adjusted its forecasts for the company's 2027 and 2028 revenue projections upward by 4% each, while net profit estimates for those years were raised by 15%, citing stronger-than-expected growth prospects in the AIDC product segment. Projections for 2026 remained largely unchanged. The investment bank trimmed its price target slightly from HK$47 to HK$46, while maintaining an "Overweight" rating on the stock.

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