HK Stock Market Move | Weichai Power(02338) rose over 6% in the final session, the company is actively accelerating the construction of SOFC capacity.

Weichai Power (02338) surged over 6% in the final trading session, closing with a 5.88% increase at HK$41.4, with a turnover of HK$7.66 billion. On the news front, global solid oxide fuel cell (SOFC) production is entering an accelerated expansion phase. Bloom Energy currently has a production capacity of 1GW and plans to expand to 2GW by the end of 2026; Ceres Power is cooperating with manufacturing partners such as Weichai, Doosan, Delta, Denso, and Temes through technology licensing. Weichai Power recently stated that the company is working to accelerate the construction of SOFC production capacity and aims to achieve mass production capacity by the end of the year. They are also planning future production capacity construction in advance, accelerating capacity expansion based on market and industry demand. JP Morgan released a research report stating that Weichai Power is benefiting from investor focus shifting from traditional heavy-duty truck engines to electrification, as well as strong quarterly performance and raised guidance from global peers. The global AI data center power supply market is extremely tight, with customers prioritizing supply speed and delivery capability. JP Morgan believes the market is reevaluating Weichai Power and considers it a preferred choice in the industry.