On September 2, WEICHAI POWER fell 3.54% in regular trading, trading at HK$30.12, with turnover of HK$64.42 million. The decline marks a continuation of selling pressure as investors lock in gains following the release of the company's strong mid-year results on August 27.
The company reported H1 revenue of RMB 123.163 billion, up 8.85% year-over-year, and net profit attributable to shareholders of RMB 7.701 billion, up 36.46%. Notably, Q2 standalone net profit reached RMB 4.616 billion, surging 57.38% and setting a historical quarterly record. AIDC backup power engine sales more than doubled in the first half. Despite the robust numbers, the stock has exhibited a classic buy-the-expectation, sell-the-fact pattern, with profit-taking accelerating since the earnings release.
Broader sector weakness added further pressure. The Construction Machinery and Heavy Trucks sector declined across the board, with SANY INT'L down 3.32%, ZOOMLION down 2.55%, LONKING down 2.54%, SINOTRUK down 2.33%, and TIMES ELECTRIC down 1.11%. Multiple brokerages, including Bank of America and BOCOM International, recently maintained Buy ratings with target prices of HK$47.5 and HK$44.5 respectively, suggesting significant upside from current levels.
(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.)
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