Movement Alert｜Weichai Power Rises 3.11% in Regular Trading, Market Refocuses on Data Center Fundamentals After Gas Turbine Concept Selloff

Market Focus06-03

On June 3, Weichai Power (02338.HK) rose 3.11% in regular trading, trading at 40.3 HKD/share, with trading volume of approximately 213 million HKD.

On the news front, the company had previously clarified on June 1 that it has no gas turbine products, directly refuting market speculation linking it to SpaceX's 2.8 billion USD gas turbine procurement for AI data centers. This triggered a sharp selloff on June 2 as concept-driven capital exited. With the short-term negative now digested, the market has pivoted back to the company's core data center business fundamentals.

Key catalysts supporting the rebound include: Q1 data center engine sales exceeding 500 units with year-over-year growth surpassing 240%; JPMorgan recently raising its H-share target price from 40 HKD to 52 HKD while maintaining an Overweight rating, noting the company's power transition has reached measurable milestones; and Goldman Sachs reaffirming a Buy rating with a 56 HKD target price.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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