二零二五年十月三十一日 於本公告刊發之日，本公司執行董事為馬常海先生、王德成先生、黃維彪先生、 孫 少 軍 先 生、袁 宏 明 先 生 及 馬 旭 耀 先 生；本 公 司 非 執 行 董 事 為 張 良 富 先 生、 Richard Robinson Smith先生及Michael Martin Macht先 生；本 公 司 獨 立 非 執 行 董 事 為 蔣 彥 女 士、遲 德 強 先 生、趙 福 全 先 生、徐 兵 先 生 及 陶 化 安 先 生。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部份內容而產生或因依賴該等內容而引起的任何損失承擔任何責任。 濰柴動力股份有限公司 WEICHAI POWER CO., LTD. （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2338） 海外監管公告 本公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則第13.10B條 而 作 出。 茲載列濰柴動力 ...

濰柴動力股份有限公司 WEICHAI POWER CO., LTD. （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2338） 公 告 於二零二五年十月三十一日舉行之 股東特別大會結果 董 事 會 欣 然 宣 佈，載 於 股 東 特 別 大 會 通 告 之 決 議 案 已 於 二 零 二 五 年 十 月 三 十 一 日 舉 行 之 股 東 特 別 大 會 上 以 投 票 表 決 方 式 正 式 批 准。 股東特別大會 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部份內容而產生或因依賴該等內容而引起的任何損失承擔任何責任。 – 3 – | | 普通決議案 | | 票 數(%) | | | --- | --- | --- | --- | --- | | | | 贊成 | 反對 | 棄權 | | 9. | 審 議 及 批 准 補 充 通 函 所 載「董 事 會 函 件」中「IV. | 2,066,611,9 ...

2025 年第三次临时股东会会议决议公告 证券代码：000338 证券简称：潍柴动力 公告编号：2025-073 潍柴动力股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 一、重要提示 1．潍柴动力股份有限公司（下称"公司"或"潍柴动力"）2025 年第 三次临时股东会（下称"本次会议"）未出现否决议案的情形。 2．本次会议未涉及变更以往股东会已通过的决议。 二、会议召开情况 1．召开时间： （1）现场会议召开时间：2025 年 10 月 31 日 14:50 （2）网络投票时间： 采用交易所交易系统投票时间：2025年 10 月31 日9:15-9:25，9:30-11:30， 13:00-15:00； 采用互联网投票系统投票时间：2025 年 10 月 31 日 9:15 至 15:00 期间 的任意时间。 2．现场会议召开地点：山东省潍坊市高新技术产业开发区福寿东街 197 号甲公司会议室 3．召开方式：现场会议与网络投票相结合 4．召集人：公司董事会 5．主持人：董事王德成 6．本次会议的召集、召开及表决程序符合《中华人民共和国公司法》 《 ...

中国北京市建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 12-15th Floor, China World Office 2, No.1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 北京市通商律师事务所 关于潍柴动力股份有限公司 2025 年第三次临时股东会的 法律意见书 致：潍柴动力股份有限公司 根据《中华人民共和国律师法》《中华人民共和国公司法》（以下简称"《公 司法》"）《中华人民共和国证券法》《上市公司股东会规则》（以下简称"《股 东会规则》"）《深圳证券交易所上市公司股东会网络投票实施细则》（以下简 称"《网络投票实施细则》"）等法律、法规和规范性文件以及《潍柴动力股份 有限公司章程》（以下简称"《公司章程》"）的规定，北京市通商律师事务所 （以下简称"本所"）接受潍柴动力股份有限公司（以下简称"公司"）的委托， 指派 ...

Core Points - The article discusses the upcoming 2025 Solid-State Battery Industry Annual Conference and the Solid-State Battery Golden Ding Award Ceremony, scheduled for November 8, 2025, in Guangzhou, focusing on new technologies and ecosystem building [4][5][6]. Event Overview - The event will feature over 1000 participants and will include various forums and exhibitions related to solid-state battery technology [5][6]. - The main theme of the conference is "Focusing on New Technologies, Building a New Ecosystem" [5]. Key Participants - Major sponsors and exhibitors include companies such as RuTian Technology, JinNa Technology, and others involved in the sodium battery and solid-state battery sectors [4][6]. - Notable speakers include industry leaders from various research institutions and companies, highlighting advancements in solid-state battery technology [6][8]. Forum Agenda - The agenda includes a series of presentations and discussions on topics such as the development of solid-state battery technology, key materials, and manufacturing processes [6][19]. - Specific sessions will cover advancements in sulfide electrolytes, polymer-based solid-state lithium-ion batteries, and the challenges in developing solid-state battery materials [6][19]. Registration and Participation - Registration for the event is open, with fees structured for attendees and exhibitors, including options for sponsorship and exhibition space [19][20]. - The event aims to facilitate networking and collaboration among industry stakeholders [19].

Group 1 - Bank of America Securities has raised the earnings per share forecast for Weichai Power (02338, 000338.SZ) for 2025 to 2027 by 1%, 2%, and 2% respectively, and increased the target price for Hong Kong shares from HKD 20.4 to HKD 21.5, while maintaining a "Buy" rating [1] - As of October 31, 2025, Weichai Power's stock closed at HKD 16.05, up 4.49%, with a trading volume of 35.59 million shares and a turnover of HKD 576 million [1] - The stock has a market capitalization of HKD 29.845 billion, ranking 4th in the automotive parts industry [1] Group 2 - Key financial metrics for Weichai Power compared to the automotive parts industry average include: - ROE: 12.84% vs. 2.81% (ranked 6th) - Revenue: HKD 216.353 billion vs. HKD 15.754 billion (ranked 1st) - Net Profit Margin: 5.8% vs. -1.73% (ranked 10th) - Gross Profit Margin: 22.18% vs. 19.88% (ranked 12th) - Debt Ratio: 65.43% vs. 436.71% (ranked 24th) [2]

Core Viewpoint - Weichai Power's large-bore engine business has achieved record-high performance in Q3 2025, driven by significant sales growth in both domestic and international markets, particularly in the data center segment [1][2][3] Group 1: Sales Performance - In the first three quarters of 2025, sales of large-bore engines exceeded 7,700 units, representing a year-on-year growth of over 30% [1] - Sales of data center-related products surpassed 900 units, showing a year-on-year increase of more than 300% [1] - The M series engines achieved annual sales of over 8,000 units in 2024, with over 60% of sales coming from overseas markets [1][2] Group 2: Market Demand and Technological Advancements - The rapid growth of Weichai's large-bore engine business is attributed to the exponential increase in global computing power demand, which has spurred the construction of AI data centers [2] - The market for large-bore diesel engines in China's data centers is expected to approach 10 billion yuan by 2025, with the global market projected to exceed 40 billion yuan by 2026 [2] - Weichai has established a top-tier R&D team to meet the high reliability, efficiency, and intelligence requirements of high-end power products [2] Group 3: Competitive Landscape - Weichai is accelerating the "domestic substitution" process, as the domestic market for large-bore engines has been historically dominated by foreign brands like Cummins and Caterpillar [3] - The company has successfully expanded its energy and power products into markets in Asia-Pacific, Europe, and North America, enhancing its competitiveness in the global high-end power market [3] - The rapid growth of the large-bore engine business reflects the successful implementation of Weichai's high-end transformation strategy [3] Group 4: Future Outlook - With ongoing technological advancements and steady market share growth, Weichai's high-end transformation path is becoming clearer, opening up profit margins and supporting valuation increases [4] - The large-bore engine business is expected to continue releasing growth potential, becoming a core growth curve for the company's high-quality development [4]

Core Viewpoint - Bank of America Securities has raised its earnings per share forecasts for Weichai Power (000338) for 2025 to 2027 by 1%, 2%, and 2% respectively, and has increased the target price for Hong Kong shares from HKD 20.4 to HKD 21.5, and for A-shares from CNY 20.4 to CNY 20.5, while maintaining a "Buy" rating [1] Financial Performance - Weichai Power reported third-quarter revenue of CNY 57.4 billion, representing a year-on-year growth of 11%, which is also 11% higher than the bank's expectations [1] - The gross margin for the quarter was 21.4%, showing a decline of 0.7 percentage points year-on-year and quarter-on-quarter, which is 0.4 percentage points lower than the bank's forecast, attributed to an increase in the revenue share from low-margin heavy truck business [1] - Net profit increased by 30% year-on-year to CNY 3.2 billion, exceeding the bank's expectations [1]

Group 1 - The core viewpoint of the report is that Bank of America has raised its earnings per share forecasts for Weichai Power for the years 2025 to 2027 by 1%, 2%, and 2% respectively, and has increased the target price for Hong Kong shares from HKD 20.4 to HKD 21.5, while the target price for A-shares has been raised from CNY 20.4 to CNY 20.5, maintaining a "Buy" rating [1] - Weichai Power's third-quarter revenue reached CNY 57.4 billion, representing an 11% year-on-year growth, which is also 11% higher than the bank's expectations [1] - The gross profit margin for Weichai Power was 21.4%, showing a decline of 0.7 percentage points year-on-year and quarter-on-quarter, which is 0.4 percentage points lower than the bank's expectations, attributed to the increased revenue share from low-margin heavy truck business [1] - The net profit for Weichai Power increased by 30% year-on-year to CNY 3.2 billion, exceeding the bank's expectations [1]

Investment Rating - The report maintains a "Recommended" rating for Weichai Power [4][6]. Core Views - Weichai Power's Q3 2025 performance exceeded expectations, with revenue of 574.19 billion yuan, up 16.08% year-on-year, and a net profit of 32.34 billion yuan, up 29.49% year-on-year [1][2]. - The company is experiencing a robust growth in engine sales, with a total of 39,500 units sold in Q3 2025, representing a year-on-year increase of 19.94% [2][3]. - The expansion of the old-for-new vehicle policy is expected to boost domestic demand for heavy-duty trucks, particularly for natural gas engines [3]. Summary by Sections Financial Performance - For the first three quarters of 2025, Weichai Power reported revenue of 1,705.71 billion yuan, a 5.32% increase year-on-year, and a net profit of 88.78 billion yuan, a 5.67% increase year-on-year [1]. - In Q3 2025, the gross margin was 21.38%, slightly down from previous quarters due to intensified market competition [2]. Product Development - The company is optimizing its product structure, with significant growth in various segments including engines, complete vehicles, smart logistics, and agricultural machinery [3]. - The M series large-bore engines saw sales exceed 5,000 units, a 41% increase year-on-year, while data center engines surged by 491% year-on-year [3]. Market Outlook - The report anticipates revenue growth for Weichai Power, projecting revenues of 2,269.24 billion yuan in 2025, 2,372.4 billion yuan in 2026, and 2,443.57 billion yuan in 2027 [4][5]. - The net profit is expected to reach 120.3 billion yuan in 2025, with an EPS of 1.38 yuan, indicating a PE ratio of 10 times [4][5].