HK Stock Market Move | Weichai Power (02338) rises more than 5%, generating recognition from OpenAI's large data center. Goldman Sachs is optimistic about the company's valuation reassessment.

Weichai Power (02338) rose more than 5%, and as of the time of publication, it was up 5.41% to HK$33.54, with a turnover of HK$5.84 billion. On the news front, Goldman Sachs released a research report stating that OpenAI's US license documents for the "Stargate" in the Texas data center show that they are using emergency generators from Weichai Power's wholly-owned subsidiary "Boduan," marking a significant milestone for Boduan as it gains recognition from large data center enterprises. This breakthrough once again confirms Goldman Sachs' positive outlook on Weichai, with expectations of significant growth opportunities in the under-supplied AIDC power generation equipment industry, and potential for a valuation reassessment after a major shift in investment trends. Goldman Sachs also notes that in March, there will be two major catalysts for Weichai, including the group's plan to announce its full-year performance for last year on March 26, with management expected to provide more guidance on the long-term outlook for the power generation business; and its US core partner Generac's planned investor day for 2026 on March 25, where more details about its data center strategy are expected to be discussed.