Core Insights - EnerSys reported Q3 CY2025 revenue of $951.3 million, exceeding analyst expectations of $890.3 million, reflecting a year-on-year growth of 7.6% [1][6] - The company’s non-GAAP profit per share was $2.56, surpassing analysts' consensus estimates by 8.8% [1][6] - EnerSys raised its revenue guidance for Q4 CY2025 to $940 million at the midpoint, which is 1.4% above analyst estimates [1][6] Financial Performance - Adjusted EBITDA for the quarter was $146 million, with a margin of 15.3%, beating analyst estimates of $132.3 million [6] - Operating margin decreased to 9.7% from 11.2% in the same quarter last year [6] - Sales volumes increased by 3% year on year, compared to a decline of 3% in the same quarter last year [6] Market and Strategic Insights - The positive performance was attributed to growth in data center and aerospace and defense markets, along with strength in the Energy Systems segment [3] - Management emphasized operational improvements from the EnerGize strategic framework, focusing on reallocating resources to high-impact projects [3] - Anticipated benefits from ongoing cost reductions and expanding data center demand are expected to drive future growth [4] Future Outlook - The company expects continued margin improvement in Energy Systems and a targeted ramp-up in lithium battery production [4] - CFO noted that while lithium-related costs may temporarily pressure margins, ongoing improvements in gross margin are anticipated [4] - Management is optimistic about restructuring benefits and new product introductions driving operating leverage despite mixed end market conditions [4]

Group 1 - Nissan Motor Company will sell its global headquarters building in Yokohama for 97 billion yen (approximately 4.5 billion RMB), continuing to lease the property post-sale as part of its operational restructuring efforts [1] - This sale reflects Nissan's commitment to optimizing its asset structure and may improve its financial situation, enhancing market confidence [1] - The strategic adjustment could serve as a model for other automotive companies, raising awareness of financial health within the industry and impacting overall market sentiment [1] Group 2 - Volkswagen Group (China) announced the establishment of a joint venture, CARIZON, with Horizon Robotics to design and develop System-on-Chip (SoC) for next-generation smart connected vehicles [2] - This collaboration signifies a shift in foreign companies' strategies in China from technology export to local integration, enhancing supply chain autonomy and cost advantages for Volkswagen [2] - The partnership is expected to stimulate the domestic smart driving industry chain, potentially reshaping the competitive landscape of the automotive sector and attracting capital market interest in technology integration [2] Group 3 - Jiangsu Li Auto Battery Co., Ltd. has been established with a registered capital of 70 million RMB, focusing on battery manufacturing, sales, and electric vehicle charging infrastructure [3] - The new company is wholly owned by Shandong Li Auto Battery Co., Ltd., which is jointly held by Beijing Li Auto Co., Ltd. and Xinwanda Power Technology Co., Ltd. [3] - This establishment enhances Li Auto's competitiveness in the electric vehicle market and supports the development of charging infrastructure, potentially boosting investor interest in battery-related enterprises [3] Group 4 - Pony.ai and Toyota have jointly established Chuangfeng Intelligent Technology (Shenzhen) Co., Ltd., with a registered capital of 28 million RMB, focusing on smart instruments and charging equipment [4] - This partnership highlights the commitment of both companies to collaborate in the smart automotive sector, emphasizing the importance of electric vehicle infrastructure [4] - The initiative may increase market attention on smart transportation and electric vehicle-related companies, fostering collaborative development across related industry sectors [4]

Core Insights - The "National Good Car" Aion UT Super No. 1, jointly launched by JD.com, GAC Group, and CATL, has officially rolled off the production line, showcasing its design, manufacturing process, battery technology, and battery swapping details for the first time [1] - The vehicle's pre-sale and test drive have commenced, with an official launch scheduled for November 9 [1] - The after-sales service will be collaboratively managed, with GAC responsible for overall vehicle warranty, JD.com enhancing after-sales service, and CATL handling battery-related warranties, ensuring a "replace, not repair" policy for battery issues [1] Company Strategy - JD.com's automotive marketing head emphasized the project's core value, aiming to enhance consumer experience through data-driven product optimization and collaboration with partners [3] - The initiative is not limited to a single product; JD.com plans to introduce additional models to build a comprehensive product matrix [3] - The concept of "National Good Car" represents a set of quality standards and entry thresholds established with partners, promoting the value proposition of "good cars at affordable prices" [3] - JD.com prioritizes user experience and feedback over sales volume, indicating that order scale is not the primary focus at this stage [3]

Core Viewpoint - Weichai Power (02338) has signed a manufacturing license agreement with its associate company Ceres Power Holdings plc to establish a production line for batteries and stacks aimed at the stationary power generation market [1] Group 1 - The agreement is set to be effective on November 5, 2025 [1] - The production line will supply power for AI data centers, commercial buildings, and industrial parks [1] - Key components will be supplied by Ceres Power [1]

Core Viewpoint - Weichai Power (000338)(02338) has signed a manufacturing license agreement with its associate company Ceres Power Holdings plc to establish a production line for batteries and stacks aimed at the stationary power generation market [1] Group 1: Agreement Details - The manufacturing license agreement is set to be effective on November 5, 2025 [1] - The production line will focus on providing power solutions for AI data centers, commercial buildings, and industrial parks [1] - Key components for the production will be supplied by Ceres Power [1]

Core Viewpoint - Weichai Power (02338.HK) has signed a manufacturing license agreement with its associate company Ceres Power Holdings plc to establish production lines for batteries and stacks aimed at the stationary power generation market [1] Group 1: Agreement Details - The agreement was signed on November 5, 2025, and involves the establishment of production lines for batteries and stacks [1] - Key components will be supplied by Ceres Power, indicating a collaborative approach to manufacturing [1] Group 2: Market Applications - The products developed from this agreement will provide power for AI data centers, commercial buildings, and industrial parks [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 濰柴動力股份有限公司 WEICHAI POWER CO., LTD. （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2338） 自願性公告 本公告乃濰柴動力股份有限公司（「本公司」，連 同 其 附 屬 公 司，統 稱 為「本集團」） 自 願 作 出。 於2025年11月5日，本 公 司 與 本 公 司 参 股 公 司Ceres Power Holdings plc（「希鋰斯」） 簽訂一項製造許可協議（「許可協議」），根 據 該 協 議，本 集 團 擬 建 立 應 用 於 固 定 式 發 電 市 場 的 電 池 和 電 堆 生 產 產 綫，部 分 關 鍵 部 件 由 希 鋰 斯 供 應，產 品 將 為AI 數 據 中 心、商 業 樓 宇 及 工 業 園 區 等 場 景 提 供 電 力。 上 述 許 ...

Core Viewpoint - Weichai Power (000338.SZ) has signed a manufacturing license agreement with its associate company Ceres Power Holdings plc to establish a production line for batteries and stacks aimed at the stationary power generation market [1] Group 1 - The production line will supply power for AI data centers, commercial buildings, and industrial parks [1] - Key components for the production will be supplied by Ceres Power [1]

Core Viewpoint - Weichai Power (000338.SZ) has signed a manufacturing license agreement with its associate company Ceres Power Holdings plc to establish a production line for batteries and stacks aimed at the stationary power generation market [1] Group 1 - The agreement is set to be executed on November 5, 2025 [1] - Key components for the production will be supplied by Ceres Power [1] - The products will provide power for AI data centers, commercial buildings, and industrial parks [1]

Core Viewpoint - Weichai Power (000338) has signed a manufacturing license agreement with its associate company Ceres Power Holdings plc to establish a production line for batteries and stacks aimed at the stationary power generation market [1] Group 1 - The agreement was signed on November 5, and it involves the supply of key components from Ceres Power [1] - The products developed will provide power for AI data centers, commercial buildings, and industrial parks [1]