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Soochow Securities: Terminal demand for heavy truck industry is flat, new energy funds perform well.
Over the next 24 years, as the economy weakly recovers, the growth of road freight volume is providing support for maintain quantity. The high oil and gas price differential is driving the continuous growth of natural gas heavy trucks due to economic reasons. Policy-driven new energy heavy trucks are being accelerated. High export growth in non-Russian regions offsets the decline in Russia, and the entire year's exports have resilience. The elimination of old trucks may lead to substantive subsidy policies to scrap National III/IV vehicles.
Weichai Power (02338.HK) received a shareholding of 7.928 million shares from Pzena Investment Management, LLC.
According to the latest equity disclosure information from the Stock Exchange of Hong Kong, on July 16, 2024, Weichai Power (02338.HK) received an increase of 7.928 million shares from Pzena Investment Management, LLC at an average on-exchange price of HKD 12.07 per share, with a total cost of approximately HKD 95.691 million. After the increase, the latest number of shares held by Pzena Investment Management, LLC is 156,185,118 shares, and the shareholding ratio has increased from 7.63% to 8.04%.
Hong Kong stock market concept tracking: Sales of construction machinery industry rebound, with demand in the midstream machinery industry in a weak recovery trend (with concept stocks)
Multiple institutions indicate that excavator export sales are expected to turn positive in the second half of the year.
From January to June, China's cumulative sales of diesel engines were 2.6229 million units, a decrease of 2.08% compared to the same period last year.
Diesel engine sales from January to June decreased by 2% year-on-year to 2.6229 million units.
Weichai Power (02338.HK) received a shareholding increase of 10.581 million shares from Pzena Investment Management, LLC.
According to the latest equity disclosure information from the Hong Kong Stock Exchange, on July 10, 2024, Weichai Power (02338.HK) received an increase in shareholding of 10.581 million shares by Pzena Investment Management, LLC at an average price of HKD 12.1943 per share, involving approximately HKD 0.129 billion. After the increase, the latest shareholding number of Pzena Investment Management, LLC is 144,596,118 shares, and the shareholding ratio has increased from 6.90% to 7.44%.
Bank of America Securities: Maintains a "buy" rating on Weichai Power (02338) with a target price of HKD 19.
Weichai Power (02338) previously expected a net profit of 5.46 billion to 6.24 billion RMB in the first half of the year.
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