Ge Long Hui·2025-12-12 06:53Core Insights - Goldman Sachs has included Weichai Power (000338.SZ/02338.HK) in its selected list of 50 core investment targets for the "14th Five-Year Plan" (2026-2030), indicating that the company has surpassed traditional cyclical attributes and aligns well with future national industrial policy directions [1][2] Group 1 - Weichai Power's strategic transformation is confirmed by its recent announcement at the 2026 Business Conference, highlighting a new development cycle during the "14th Five-Year Plan" and the expected explosive growth in data center energy power [1] - The company's emerging strategic business has shown strong growth, particularly in large-bore engines for data centers, with sales increasing by 41% year-on-year in the first half of 2025, and sales of engines for data centers (AIDC) skyrocketing by nearly 491% [1] - Weichai Power's expansion into the new energy sector is also contributing to incremental growth, with rapid increases in power battery sales [1] Group 2 - The successful transition of Weichai Power from a traditional heavy-duty truck power leader to high-value areas such as data center backup power, high-end large-bore engines, and SOFC is key to its classification as a "mid-cap growth + policy dividend" company [2] - The "14th Five-Year Plan" places high-end manufacturing and energy security at its core, suggesting that Weichai Power's diversified industrial layout, especially in AI power generation systems, is likely to continue receiving development momentum [2]