HK Stock Market Move | Weichai Power (02338) rises by over 7% again, Citigroup indicates that the company may allocate more resources to the energy supply sector in the future.

Weichai Power (02338) rose more than 7% again, rising 4.61% to 26.8 Hong Kong dollars as of the time of writing, with a turnover of 356 million Hong Kong dollars. Citigroup released a research report stating that considering the strong demand for solid oxide fuel cells and active and passive energy supply in AI data centers, it is believed that Weichai Power may take strategic actions to gradually shift more resources from the mechanical field to the energy supply field, providing some support for the long-term growth of the group. The bank raised its sales forecasts for large engines and engines for data centers for Weichai from 2025 to 2027, and raised its net profit forecast by 1% to 4%. The bank further pointed out that after reviewing recent dealer and industry data, they still believe that demand for heavy trucks in China may continue to grow steadily this year. They believe that the impairment of Kion last year will only have a one-time impact, and in the future will benefit from related cost reduction measures.