Core Viewpoint - The report from Jefferies indicates that Weichai Power (02338.HK) has seen an increase in the average selling price of large-diameter engines, surpassing 500,000 RMB in the first three quarters, compared to approximately 400,000 RMB in 2024, primarily driven by data center products [1] Group 1: Financial Performance - The average selling price of large-diameter engines has increased to over 500,000 RMB, up from about 400,000 RMB in 2024 [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] - The profit forecasts for 2025 and 2026 have been slightly adjusted to 12.3 billion and 14 billion RMB, respectively [1] Group 2: Stock Ratings and Target Prices - The target price for Weichai Power's Hong Kong stock has been raised from 18.8 HKD to 23.7 HKD, while the A-share target price has increased from 18.3 RMB to 22 RMB, maintaining a "buy" rating [1] - In the past 90 days, one investment bank has given an "overweight" rating, with an average target price of 19.8 HKD [1] - The latest report from China Merchants Securities (Hong Kong) also gives Weichai Power an "overweight" rating with a target price of 19.1 HKD [1] Group 3: Industry Positioning - Weichai Power has a market capitalization of 38.939 billion HKD, ranking third in the automotive parts industry [2] - Key financial metrics show Weichai Power's ROE at 12.84%, significantly higher than the industry average of 2.81% [2] - The company's operating revenue stands at 216.353 billion RMB, leading the industry average of 15.754 billion RMB [2]

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]