CMBC International: Upgrades Weichai Power (02338.HK) target price to HK$19.5, maintains "buy" rating.

According to the Intelligent Finance and Economics APP, CMB International released a research report stating that Weichai Power (02338.HK) saw a 4% year-on-year decrease in net profit to 5.6 billion yuan in the first half of the year, indicating an 11% quarter-on-quarter decline in profit, mainly due to higher-than-expected distribution expenses and gradual recognition of restructuring costs. The company plans to distribute an interim dividend of 0.358 yuan, with a dividend payout ratio of 55%, which is consistent with last year's full-year ratio. CMB International stated that the target price for Weichai Power (02338.HK) has been raised from 18 Hong Kong dollars to 19.5 Hong Kong dollars, and the target price for Weichai Power (000338.SZ) has been raised from 18.7 yuan to 19.9 yuan, maintaining a "buy" rating.