Ge Long Hui·2025-11-06 01:50Core Viewpoint - Ceres Power has signed a solid oxide fuel cell (SOFC) manufacturing license agreement with Weichai Power, enhancing their existing partnership and targeting the data center, commercial, and industrial power markets, with expected revenue recognition in the fiscal year 2026 [2]. Group 1: Company Developments - Weichai Power will establish a new factory to produce batteries and stacks as part of the SOFC manufacturing license agreement with Ceres Power [2]. - The partnership is expected to open a new growth avenue in the power energy sector for Weichai Power [2]. Group 2: Financial Performance - Weichai Power has shown steady growth in its performance this year, with a year-on-year increase of 5% in revenue and 6% in net profit attributable to shareholders in the first three quarters [2]. - The company's annual profit is projected to exceed 12 billion yuan, reinforcing positive financial expectations [2]. - The current price-to-earnings (PE) ratio is below 12 times, placing it in the lower 40% range over the past three years, indicating a high safety margin [2]. Group 3: Market Outlook - The anticipated convergence of new energy heavy truck penetration rates early next year may reverse long-term pessimistic expectations in the main business [2]. - There is considerable potential for valuation recovery for Weichai Power [2].