On July 17, Weichai Power fell 3.75% in regular trading, trading at HK$30.58/share, with turnover of HK$51.09 million. The stock has declined consecutively since July 13 amid ongoing pressure from missed performance targets.

On the news front, the company recently completed the buyback and cancellation of 21.924 million A-share restricted stocks under its 2023 A-Share Restricted Stock Incentive Plan, as the second unlock period company-level performance targets were not achieved. The cancellation involved 664 incentive recipients at a buyback price of RMB 4.894 per share, totaling approximately RMB 107 million. Total share capital decreased from approximately 8.662 billion to 8.640 billion shares. The failure to meet performance benchmarks has signaled operational headwinds. Additionally, Wellington Management Group LLP previously reduced its holdings by approximately 1.261 million shares at around HK$37.86 per share, weakening capital-side sentiment. The broader Construction Machinery and Heavy Trucks sector has also been under pressure, with peers including CRRC, Times Electric, and Sany Heavy Industry declining.

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