On September 17, WEICHAI POWER rose 6.43% in regular trading, trading at 31.36 HKD/share, with turnover of 123 million HKD, bucking a broadly weaker Hong Kong market to lead the heavy truck and machinery sector.

The rally marks a sharp reversal following a nearly 20% cumulative pullback from the September 9 high, which was triggered by Ballard Power Systems announcing a full impairment write-down of the Weichai Ballard joint venture and its exit from the China market. The company has since clarified that the JV remains in normal operation, helping ease investor concerns.

Fundamentally, WEICHAI POWER reported H1 net profit attributable to shareholders of 7.701 billion yuan, up 36.46% year-over-year. Its data center diesel generator sales exceeded 1,400 units in H1, already surpassing the full-year volume for the prior year. Gas generator products are expected to begin delivery this year, and the AIDC power business is accelerating. Morgan Stanley recently raised its net profit forecasts for the company by 15% for the next two years, maintaining an Overweight rating with a 46 HKD target price.

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