Weichai Power (02338) rose close to 3% again, gaining 2.14% to HK$32.38 by the time of writing, with a turnover of HK$252 million. According to a research report, large-bore diesel engines are a key component of backup diesel generator sets for global data centers, with foreign brands such as Cummins, Caterpillar, and MTU dominating the market amid current capacity shortages and tight delivery schedules. Estimates indicate that over the past two years, domestic brands including Weichai, Yuchai, and Shangchai have steadily increased their market share in the domestic data center sector, having validated their product technology and accumulated application experience. These manufacturers are expected to accelerate overseas expansion by leveraging their production capacity and cost advantages. Weichai and its sub-brand Baudouin have gradually built relationships with overseas clients and channels such as PSI and Generac, successfully delivering products for data center applications in regions including the United States and Asia-Pacific. On the pricing front, it was noted that the global data center diesel generator market is largely dominated by foreign companies like Cummins, MTU, and Caterpillar. These international players face long and cautious expansion cycles, and overseas supply chain constraints are already evident. Domestic suppliers are poised to gradually increase their global market share by offering competitive pricing and shorter delivery times. Additionally, the average unit price for domestic generators is close to RMB 3 million, and diesel generator prices have continued to rise since 2024. Units equipped with foreign engines have seen price increases of approximately 20%, with fully foreign-made generator sets now exceeding RMB 3 million per unit. Against the backdrop of a supply gap, domestic diesel generator suppliers have room to raise both delivery prices and profitability.