证券日报网讯 潍柴动力9月10日在互动平台回答投资者提问时表示，公司不存在向关联方输送利益、损 害潍柴动力中小股东合法利益的情况。对客户的信用减值损失，公司会根据客户的信用风险特征，以账 龄组合、信用记录优质组合和逾期账龄组合为基础评估应收款项的预期信用损失而进行计提，且会计估 计政策具有一致性、延续性，不会仅基于客户半年度业绩调整会计估计政策。2025年上半年，信用减值 损失增加主要是因半年度末应收款项余额增加而导致。 （编辑 袁冠琳） ...

Core Viewpoint - The company is accelerating the application and promotion of hydrogen fuel cell technology, having established a comprehensive layout across the entire industry chain, including basic materials, key components, fuel stacks, and engines [1] Group 1: Technology Development - The company has developed high-performance fuel cell stacks that achieve a common platform design, reducing research and development cycles and costs [1] - The hydrogen fuel cell engine power range covers from 13 kW to 300 kW, catering to various applications including buses and light, medium, and heavy-duty trucks [1] Group 2: Market Application - The 300 kW hydrogen fuel cell power system addresses issues of insufficient power and high energy consumption in long-distance transportation, fully meeting users' demands for high efficiency and low-cost transportation [1] - The advancements in hydrogen fuel cell technology are expected to significantly promote the commercialization of heavy-duty fuel cell commercial vehicles [1]

Core Insights - Weichai Power (000338.SZ) is currently engaged in the research and development of 60Ah sulfide all-solid-state batteries and low-cost sulfide all-solid-state electrolyte materials [1] - The company plans to establish a pilot production line for sulfide all-solid-state batteries [1]

Core Viewpoint - Weichai Power has demonstrated resilience in its performance during the key window for manufacturing transformation, reporting steady growth in its 2025 interim results with revenue of 113.15 billion yuan and a net profit of 5.64 billion yuan, while also increasing its dividend payout ratio to 57% [1][2] Group 1: Financial Performance - In the first half of 2025, Weichai Power achieved revenue of 113.15 billion yuan and a net profit of 5.64 billion yuan [1][2] - The company plans to distribute a cash dividend of 3.58 yuan per 10 shares, continuing its tradition of high shareholder returns [1][3] - From 2021 to 2024, the company's revenue grew from 203.55 billion yuan to 215.69 billion yuan, with a notable recovery in 2023, increasing by 22.15% [2] Group 2: Business Segments - Traditional high-end business remains strong, with 362,000 engines sold in the reporting period, and large-bore engines sales exceeding 5,000 units, up 41% [2][3] - New energy heavy truck sales surged by 255% year-on-year to 10,000 units, supported by government policies [3] - The company’s revenue from new energy technology reached 1.21 billion yuan, a 37% increase, with battery sales growing by 91% [3][6] Group 3: Global Expansion - Weichai Power has made significant strides in international markets, exporting 27,000 heavy trucks in the first half of 2025, with overseas revenue reaching 57.49 billion yuan, accounting for 50.81% of total revenue [1][9] - The company’s overseas subsidiaries, including KION Group in Germany, reported a 22.2% increase in new orders, achieving a revenue of 5.5 billion euros [8] - PSI Power Systems in the U.S. also reported record performance with a revenue of 330 million USD, up 59% [8] Group 4: R&D and Technological Advancements - Weichai Power has consistently invested in R&D, with expenditures increasing from 8.79 billion yuan in 2021 to 9.41 billion yuan in 2024, although a slight decrease was noted in the first half of 2025 [5] - The company has achieved significant advancements in diesel engine efficiency, with a commercialized platform product reaching a thermal efficiency of 53.09% [5][6] - In the new energy sector, Weichai has developed a comprehensive technology portfolio, including high-capacity batteries and fuel cell products [6]

Core Viewpoint - The company is accelerating the application and promotion of hydrogen fuel cell technology, having established a comprehensive layout across the entire industry chain, including basic materials, key components, fuel stacks, and engines [1]. Group 1: Technology Development - The company has developed high-performance fuel cell stacks that achieve a common platform design, reducing research and development cycles and costs [1]. - The hydrogen fuel cell engine power range covers from 13 kW to 300 kW, catering to various applications including buses and light, medium, and heavy-duty trucks [1]. Group 2: Market Application - The company's 300 kW hydrogen fuel cell power system addresses issues of insufficient power and high energy consumption in long-distance trunk transportation, fully meeting user demands for high efficiency and low-cost transportation [1]. - The advancements in hydrogen fuel cell technology are expected to significantly promote the commercialization of heavy-duty fuel cell commercial vehicles [1].

Group 1 - Morgan Stanley has downgraded Weichai Power's A-share rating to "Equal-weight" with a target price of 16.80 RMB [1]

Core Viewpoint - SAIC-GM-Wuling and Huawei have upgraded their strategic partnership to enhance collaboration in the fields of assisted driving, intelligent cockpit, and smart manufacturing, aiming to drive high-quality development in the automotive industry's intelligence and connectivity [1][6]. Group 1: Partnership Details - The signing ceremony for the deepened cooperation took place in Liuzhou, with key officials from the Guangxi region present [1][6]. - The first model resulting from this collaboration, the Baojun Huajing S, was unveiled during the ceremony [1][3]. Group 2: Technological Advancements - The Baojun Huajing S will feature Huawei's advanced technologies, including HUAWEI ADS 4 for assisted driving, HarmonySpace 5 for the intelligent cockpit, and HUAWEI IVCS for vehicle cloud services, along with the Limera laser vision system [3][5]. - The vehicle emphasizes safety through five key principles: intelligent safety, structural safety, battery safety, material safety, and all-time safety, incorporating a comprehensive collision avoidance system and adhering to the latest safety standards [3][5]. Group 3: Strategic Focus Areas - The partnership will focus on three key areas: assisted driving, intelligent cockpit, and smart manufacturing, integrating Huawei's solutions with SAIC-GM-Wuling's proprietary technologies [5][6]. - SAIC-GM-Wuling has achieved significant milestones, being the first Chinese brand to reach cumulative sales of 30 million vehicles, showcasing its advantages in user scale, technology, and smart manufacturing [5][6]. Group 4: Industry Impact - Huawei's full-stack technology capabilities in intelligent connected vehicles are expected to accelerate the automotive industry's transformation towards intelligence [5][6]. - The collaboration aims to foster a new quality of productivity in the Guangxi automotive industry and create a more secure, convenient, and intelligent travel experience for users [6].

Group 1 - Weichai Power (000338) announced a share repurchase plan on September 4, 2025, with an investment of 55.9681 million RMB [1] - The company plans to repurchase 3.81 million A-shares at a price range of 14.57 to 14.76 RMB per share [1]

Group 1 - The company Weichai Power (02338) announced a share buyback plan on September 4, 2025, with an investment of 55.9681 million RMB [1] - The company plans to repurchase 3.81 million A-shares at a price range of 14.57 to 14.76 RMB per share [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 濰柴動力股份有限公司 呈交日期： 2025年9月4日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | 於深圳證券交易所上市 | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | 事件 | 已發行股份（不包括庫存股份）數 目 ...