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富瑞:升潍柴动力目标价至23.7港元 维持“买入”评级
Zhi Tong Cai Jing· 2025-11-12 07:22
Core Viewpoint - The report from Jefferies indicates that Weichai Power's average selling price for large-diameter engines has exceeded 500,000 RMB in the first three quarters, up from approximately 400,000 RMB in 2024, driven mainly by data center products [1] Group 1: Financial Performance - The company has adjusted its profit forecasts for 2025 and 2026 to 12.3 billion RMB and 14 billion RMB, respectively [1] - The target price for Hong Kong stocks has been raised from 18.8 HKD to 23.7 HKD, while the target price for A-shares has increased from 18.3 RMB to 22 RMB, maintaining a "buy" rating [1] Group 2: Product Development - The solid oxide fuel cell (SOFC) production line is under construction, with the first phase of investment being moderate, although the company has not disclosed capacity details [1] - The company maintains its shipment target for data center-related products at 1,000 to 1,200 units for 2025, with expectations to reach the upper limit of this target [1]