Xin Lang Cai Jing·2025-11-06 00:35Group 1 - Ceres Power has signed a manufacturing license agreement for solid oxide fuel cells (SOFC) with Weichai Power, further solidifying their existing partnership [1] - Weichai Power will establish a new factory to produce batteries and stacks aimed at data centers and commercial and industrial power markets, with expected revenue recognition in the fiscal year 2026 [1] - The commercialization of SOFC technology has made significant progress since Weichai's strategic investment in Ceres Power in 2018, with key deliveries planned for 2024 [1] Group 2 - The company has shown steady growth in performance this year, with a 5% increase in revenue and a 6% increase in net profit attributable to shareholders in the first three quarters [2] - The company's full-year profit is expected to exceed 12 billion yuan, reinforcing positive outlooks [2] - Current PE valuation is below 12 times, positioned in the lower 40% of the last three years, indicating a high safety margin and potential for valuation recovery [2] Group 3 - The strategic positioning of power stability is becoming increasingly important due to rising overseas AI computing investments [1] - Weichai Power is proactively investing in clean energy technologies such as solid fuel cells and natural gas engines, aiming to benefit from the global electricity shortage trend [1] - The company’s clean energy portfolio is expected to deepen, enhancing its market position [1]