HK Stock Market Move | Weichai Power (02338) rises by over 5% again, approaching its previous high. The company is accelerating the increase of SOFC production capacity to meet customer demand.

Weichai Power (02338) rose by more than 5% again to a high of 23.58 Hong Kong dollars, approaching its historical high. As of the time of publication, it rose by 4.55% to 23.46 Hong Kong dollars, with a turnover of 138 million Hong Kong dollars. On the news front, Weichai Power stated on its interactive platform that the company has completed industry-leading research on sulfide all-solid-state batteries in the laboratory and is currently conducting industrialization research and development work; there is strong demand for power generation products for data centers, and production and sales are both prosperous; the company is accelerating the capacity expansion of SOFC to meet customer demand. Founder released a research report stating that recently, the overseas SOFC leader Bloom Energy's stock price has shown strong performance, rising by nearly 40%, mainly due to its agreement with American Electric Power (AEP) on a fuel cell cooperation agreement valued at 2.65 billion US dollars, which confirms the continued prosperity of the industry under the background of power shortage in North America. The bank believes that Weichai Power, as an important participant in the industry chain, will also benefit from this trend. Currently, SOFC is still one of the most efficient power generation solutions, and it is expected to remain a scarce resource for filling the power gap in the next 1-3 years.