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） 公 告 暫停辦理股份過戶登記手續 茲提述濰柴動力股份有限公司（「本公司」）日期為二零二五年八月二十九日及 二零二五年九月三十日的公告（「該等公告」），內 容 有 關（其 中 包 括）若干持續性 關 連 交 易。除 非 另 有 界 定，否 則 本 公 告 所 用 詞 彙 與 該 等 公 告 所 界 定 者 具 有 相 同 涵 義。 本 公 司 董 事 會 宣 佈，股 東 特 別 大 會（「股東特別大會」）預期將於二零二五年十月 三十一日（星 期 五）舉 行，以 審 議 及 酌 情 批 准 建 議 修 訂 若 干 公 司 治 理 政 策 以 及 就 不 獲 豁 免 持 續 性 ...

2025年10月13日，潍柴动力（000338）股份有限公司在优质运营、创新突破、社会贡献等指标中表现优 异，入围《经济观察报》2024—2025年度受尊敬企业。根据经观中国上市公司综合价值评估体系，总资 产、研发费用连续三年实现正增长。 ...

Core Viewpoint - Weichai Power Co., Ltd. announced the progress of its A-share repurchase plan on October 9, 2025, indicating a strategic move to reduce registered capital through share buybacks [1] Summary by Sections Repurchase Plan Overview - The company held its fourth temporary board meeting on April 29, 2025, and subsequently convened the second temporary shareholders' meeting on May 20, 2025, to approve the repurchase plan. The plan involves using self-owned and self-raised funds to repurchase A-shares through centralized bidding, with a maximum repurchase price set at 23.57 yuan per share, later adjusted to 23.22 yuan per share after the 2024 dividend distribution on July 25, 2025. The total funds allocated for the repurchase are between 500 million yuan and 1 billion yuan, with a repurchase period of 12 months from the approval date [2] Latest Repurchase Progress - As of September 30, 2025, the company has repurchased a total of 50,252,475 A-shares, representing approximately 0.58% of the current total share capital. The highest transaction price was 15.43 yuan per share, while the lowest was 14.57 yuan per share, with a total expenditure of 761,492,999.13 yuan (excluding transaction fees) [3] Compliance Statement - The company confirmed that the repurchase complies with relevant laws and regulations, as well as the established repurchase plan. The timing, quantity, and pricing of the repurchased shares adhere to the regulations set forth by the "Listed Company Share Repurchase Rules" and the "Shenzhen Stock Exchange Self-Regulatory Guidelines No. 9 - Share Repurchase." The company ensured that repurchases did not occur during significant events that could impact share prices and followed all regulatory requirements during the buyback process [4]

Group 1 - Weichai Power (02338) announced the progress of its A-share buyback, with a total of 50,252,475 shares repurchased as of September 30, 2025, accounting for approximately 0.58% of the company's total share capital [1] - The highest transaction price during the buyback was RMB 15.43 per share, while the lowest was RMB 14.57 per share [1] - The total amount paid for the buyback was RMB 761,492,999.13, excluding transaction fees, and the buyback complies with relevant laws and regulations as well as the company's established buyback plan [1]

Group 1 - The core point of the article is that Weichai Power (02338.HK) has announced a share buyback program, repurchasing a total of 50.25 million A-shares, which represents approximately 0.58% of the company's total share capital [1] - The buyback was conducted through a centralized bidding transaction, with the highest transaction price being RMB 15.43 per share and the lowest at RMB 14.57 per share [1] - The total amount paid for the buyback was RMB 761 million, excluding transaction fees, and the buyback aligns with relevant laws and the company's established share repurchase plan [1]

潍柴动力（000338）(02338)公布A股回购进展，截至2025年9月30日，公司通过回购专用证券账户以集 中竞价交易方式累计回购A股股份共计50,252,475股，占公司目前总股本的比例约为0.58%，最高成交价 为人民币15.43元/股，最低成交价为人民币14.57元/股，支付的总金额为人民币761,492,999.13元(不含交 易费用)，本次回购符合相关法律法规及公司既定回购股份方案的要求。 ...

茲載列濰柴動力股份有限公司（「本公司」）在 深 圳 證 券 交 易 所 網 站 刊 登 的 公 告， 僅 供 參 閱。中 文 公 告 的 全 文 刊 登 於 聯 交 所 及 本 公 司 網 站。 承董事會命 董事長 馬常海 中國山東濰坊 二零二五年十月九日 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。 证券代码：000338 证券简称：潍柴动力 公告编号：2025-066 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 ...

证券代码：000338 证券简称：潍柴动力 公告编号：2025-066 潍柴动力股份有限公司 关于回购公司部分 A 股股份的进展公告 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。 潍柴动力股份有限公司（下称"公司"）于2025年4月29日召开 2025年第四次临时董事会会议，于2025年5月20日召开2025年第二次 临时股东大会、2025年第二次A股股东会议和2025年第二次H股股东 会议，审议通过了《关于回购公司部分A股股份方案的议案》，同意 公司使用自有资金和自筹资金以集中竞价交易方式回购公司部分A 股股份，回购股份用于注销并减少公司注册资本，回购价格为不超过 人民币23.57元/股，预计用于回购的资金总额不低于人民币5亿元，不 超过人民币10亿元，回购期限为自公司股东大会审议通过回购股份方 案之日起12个月内。具体内容详见公司分别于2025年4月30日、2025 年5月21日、2025年6月4日在巨潮资讯网（http://www.cninfo.com.cn） 上披露的《潍柴动力股份有限公司关于回购公司部分A股股份的方案》 《潍柴动力股份有限公司202 ...

Weichai Power (000338.SZ) Conference Call Summary Industry and Company Overview - **Company**: Weichai Power, a leading manufacturer of internal combustion engines in China, holds approximately 18% market share in the diesel engine segment, with operations across commercial vehicles, construction machinery, agricultural equipment, marine, and power generation [doc id='15'][doc id='16']. Key Market Concerns Addressed 1. **HDT Cyclical Outlook**: - Management believes the heavy-duty truck (HDT) market is in the early-to-mid stage of an upcycle, expecting annual domestic sales to remain between 600k to 800k units over the next 3-5 years [doc id='6'][doc id='2']. - For 2025, management is optimistic about exceeding 1 million units in industry sales volume, supported by strong year-to-date performance [doc id='6']. - Concerns regarding a potential scaling back of equipment programs into 2026 are mitigated by a large remaining installed base of China IV HDTs (>400k units) [doc id='6']. 2. **Impact of Electrification**: - The company’s earnings are now less dependent on the HDT market, with HDT engines' net profit contribution declining from 60% to approximately 40% in 1H25 [doc id='9']. - Weichai's exposure to diesel HDT engines is limited to 15-20% of sales volume, with a net profit contribution of less than 6% of total company net profit [doc id='9']. - The impact of electrification is viewed as manageable, with the e-powertrain business expected to cushion the contraction in diesel engine sales [doc id='9']. 3. **Engine Market Share Dynamics**: - Management noted a recovery in market share during July-August 2025, returning to historical averages due to improved sales and product mix [doc id='13']. - The company aims to maintain gross profit margins (GPM) around 27% despite pricing competition [doc id='13']. Strategic Growth Pillars - Weichai is diversifying its engine portfolio, increasing contributions from large-bore engines and off-highway engines, which now account for about 20% of net profit [doc id='9']. - The company is also focusing on its new energy powertrain business, projecting sales of RMB 4 billion for the year [doc id='9']. Shareholder Return Policy - Management indicated potential for increased shareholder payouts in 2025, considering an expansion of the share buyback program to H-shares [doc id='12']. - The company is committed to improving total shareholder returns, supported by a strong free cash flow profile [doc id='16']. Financial Projections and Valuation - Weichai's revenue is projected to grow from RMB 215.7 billion in 2024 to RMB 266.3 billion by 2027 [doc id='21']. - The company maintains a strong net cash position, approximately 25% of its market cap, which supports its commitment to shareholder returns [doc id='16']. - The target price for Weichai's H-shares is set at HK$21.00, reflecting an upside potential of 48.9% [doc id='21']. Risks and Challenges - Key risks include slower-than-expected macroeconomic activity, weaker global economic growth, and the shift towards higher electrification in powertrains [doc id='20']. Conclusion - Weichai Power is positioned to benefit from a favorable cyclical outlook in the HDT market, a diversified engine portfolio, and a commitment to shareholder returns, making it a compelling investment opportunity despite the challenges posed by electrification and market dynamics [doc id='16'][doc id='21'].

Core Viewpoint - Goldman Sachs released its October Asia-Pacific strategy report, highlighting a list of recommended stocks based on the "earnings revision leading indicator" criterion, focusing on Hong Kong and Chinese concept stocks [1] Group 1: Recommended Stocks - Tencent (00700.HK) is included in the list of recommended stocks [1] - Alibaba-W (09988.HK) is also featured as a buy recommendation [1] - Xiaomi-W (01810.HK) is highlighted as a potential investment opportunity [1] - AIA Group (01299.HK) is part of the recommended stocks [1] - Pinduoduo (PDD.US) is listed among the buy stocks [1] - Hong Kong Exchanges and Clearing (00388.HK) is included in the recommendations [1] - Ping An Insurance (02318.HK) is mentioned as a buy [1] - Kuaishou-W (01024.HK) is part of the recommended list [1] - Techtronic Industries (00669.HK) is highlighted as a potential investment [1] - China Pacific Insurance (02328.HK) is included in the buy recommendations [1] - Lenovo Group (00992.HK) is featured in the list [1] - ZTO Express-W (02057.HK) is also recommended [1] - Hua Hong Semiconductor (01347.HK) is part of the buy list [1] - Kingdee International (00268.HK) is included in the recommendations [1] - GDS Holdings Limited-SW (09698.HK) is highlighted as a potential investment [1] - AAC Technologies (02018.HK) is part of the recommended stocks [1] - BYD Electronic (00285.HK) is included in the buy recommendations [1] - China International Capital Corporation (03908.HK) is featured in the list [1] - Weichai Power (02338.HK) is mentioned as a buy [1] - CRRC Corporation (01766.HK) is included in the recommendations [1] - JD Logistics (02618.HK) is part of the recommended stocks [1] - Swire Pacific A (00019.HK) is highlighted as a potential investment [1] - Miniso Group (09896.HK) is included in the buy recommendations [1] - Times Electric (03898.HK) is part of the recommended list [1] - Haitian International (01882.HK) is also featured in the recommendations [1]