WEICHAI POWER (02338) surged over 5% following its earnings release, trading at HK$16.16 with a turnover of HK$99.78 million by press time. On October 30, the company reported Q1-Q3 2025 revenue of approximately RMB 170.57 billion, up 5.32% year-on-year, while net profit attributable to shareholders rose 5.67% to RMB 8.88 billion. Basic earnings per share stood at RMB 1.03. J.P. Morgan noted that as U.S.-China tariff concerns resurface, WEICHAI POWER is well-positioned to benefit from import substitution opportunities in heavy-duty trucks, construction machinery engines, and AIDC engines, given increasing tariff and trade risks for key competitors Cummins and Caterpillar.