Zhi Tong Cai Jing·2025-12-02 05:52Core Viewpoint - 招银国际 has raised the target price for Weichai Power (000338)(02338) by 12% from HKD 19.5 to HKD 21.9, maintaining a "Buy" rating [1] Company Summary - The firm has adjusted its profit forecasts for Weichai Power for the years 2025-2027 upwards by 1-5% based on the latest industry predictions [1] - The company is expected to benefit from explosive growth in the data center backup power engine business [1] - Total engine sales for the company are projected to grow by 8% and 3% in 2025 and 2026 respectively, with profit margin expansion anticipated due to sustained high demand in the heavy truck sector and increased contribution from high-margin data center engines [1] Industry Summary - The heavy truck industry demand growth is expected to slow to a year-on-year increase of 3% in 2026, primarily due to a high base formed by accelerated sales growth since mid-2025 [1]