Weichai Power (02338) saw its shares rise more than 7% again. At the time of writing, the stock was up 4.61%, trading at HKD 26.8 with a turnover of HKD 356 million.

Citi released a research report stating that, considering the strong demand from AI data centers for solid oxide fuel cells and active/passive energy supply, it believes Weichai Power may take strategic steps to gradually shift more resources from the machinery sector to the energy supply field, which would support the group's long-term growth.

The bank raised its sales forecasts for Weichai's large engines and engines used in data centers for 2025 to 2027 and increased its net profit forecast by 1% to 4%.

Following a review of recent dealer and industry data, the report maintained its belief that demand for heavy-duty trucks in China is likely to sustain stable growth this year.

It also expressed confidence that last year's impairment related to Kion would only have a one-time impact, with future benefits expected from related cost-cutting measures.