Weichai Power Surges Over 5% in Early Trading, Nearing Previous High as Company Accelerates SOFC Capacity Expansion

Deep News01-16

Weichai Power (02338) rose more than 5% in early trading, reaching a high of HK$23.58, approaching its historical peak. As of writing, the share price was up 5.26% to HK$23.62, with a turnover of HK$274 million.

Weichai Power stated on an interactive platform that the company has completed laboratory research on industry-leading sulfide-based all-solid-state batteries and is currently conducting R&D for industrial mass production. Demand for power generation products for data centers is robust, with both production and sales thriving; the company is accelerating its Solid Oxide Fuel Cell (SOFC) capacity expansion to meet customer demand.

Fangzheng Securities released a research report noting that the recent strong performance of overseas SOFC leader Bloom Energy, whose stock surged nearly 40%, was primarily due to a $2.65 billion fuel cell cooperation agreement with American Electric Power (AEP). This underscores the sustained industry boom against the backdrop of power shortages in North America driven by AI development. The brokerage believes that Weichai Power, as a key participant in the industrial chain, will also benefit from this trend. Currently, SOFC remains one of the power generation solutions with the highest delivery efficiency and is expected to be a scarce resource for filling the power gap over the next 1-3 years.

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