Weichai Power Rises Over 4% in Morning Session; Changjiang Securities Maintains "Buy" Rating

Deep News11-17

Weichai Power (02338) saw its shares climb 4.12% to HK$19.70 in morning trading, with a turnover of HK$221 million.

A recent research report from Changjiang Securities highlighted that Weichai Power posted Q3 2025 revenue of approximately RMB57.42 billion, up 16.1% year-on-year and 3.1% quarter-on-quarter. The growth was driven by the recovery in the heavy-duty truck sector and increased sales of large-bore engines. Performance met expectations, with accelerated diversification efforts.

In Q3 2025, Weichai Power’s engine registrations reached 40,000 units, rising 21.6% year-on-year and 5.0% quarter-on-quarter, though its market share stood at 17.8%, down 2.9 percentage points year-on-year but up 1.0 percentage point quarter-on-quarter. The company continues to refine its management, optimizing cost ratios year-on-year. AI-driven products have enhanced profitability, while the firm actively embraces new energy initiatives.

High-end hydraulic systems, transmissions, and axles also achieved strong growth, while its agricultural equipment business bucked the trend, leading the upgrade toward larger, high-end, and intelligent machinery. With stable core operations and rapid expansion across multiple segments, Weichai Power is poised for sustained high growth.

Supported by trade-in policies, a steady recovery in the heavy-duty truck industry, stable cash flow, and attractive dividends, Changjiang Securities reiterated its "Buy" rating on the stock.

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The growth was driven by the recovery in the heavy-duty truck sector and increased sales of large-bore engines. Performance met expectations, with accelerated diversification efforts.</p>\n<p>In Q3 2025, Weichai Power’s engine registrations reached 40,000 units, rising 21.6% year-on-year and 5.0% quarter-on-quarter, though its market share stood at 17.8%, down 2.9 percentage points year-on-year but up 1.0 percentage point quarter-on-quarter. The company continues to refine its management, optimizing cost ratios year-on-year. AI-driven products have enhanced profitability, while the firm actively embraces new energy initiatives.</p>\n<p>High-end hydraulic systems, transmissions, and axles also achieved strong growth, while its agricultural equipment business bucked the trend, leading the upgrade toward larger, high-end, and intelligent machinery. 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The growth was driven by the recovery in the heavy-duty truck sector and increased sales of large-bore engines. Performance met expectations, with accelerated diversification efforts.\nIn Q3 2025, Weichai Power’s engine registrations reached 40,000 units, rising 21.6% year-on-year and 5.0% quarter-on-quarter, though its market share stood at 17.8%, down 2.9 percentage points year-on-year but up 1.0 percentage point quarter-on-quarter. The company continues to refine its management, optimizing cost ratios year-on-year. AI-driven products have enhanced profitability, while the firm actively embraces new energy initiatives.\nHigh-end hydraulic systems, transmissions, and axles also achieved strong growth, while its agricultural equipment business bucked the trend, leading the upgrade toward larger, high-end, and intelligent machinery. 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