02338 WEICHAI POWER
- 13.160
- +1.500+12.86%
WEICHAI POWER News
[Brokerage Focus] CMB International: Subsidies for National III trucks and agricultural machinery increase, expected replacement cycle to accelerate in the second half of the year.
Jingu News | Zhongyin International stated that the National Development and Reform Commission and the Ministry of Finance issued a notice yesterday (July 25th) on increasing support measures for consumer goods and equipment updates and old-for-new replacements ("Several Measures to Support Large-Scale Equipment Updates and Old-for-New Replacements"). The notice proposes to coordinate about 300 billion yuan of ultra-long-term special national bond funds to support equipment updates and old-for-new replacements. The scope of equipment updates includes industry, environmental infrastructure, transportation equipment, logistics, education, culture and tourism, and medical care, and extends to energy and electrical utilities, and old elevators. It specifically mentions increasing subsidies for national third-class trucks and agricultural machinery.
BOCOM Intl: Strengthening equipment update and trade-in policies will benefit sales of electric vehicles and Henry Hub natural gas heavy-duty trucks.
On July 25th, the National Development and Reform Commission and the Ministry of Finance jointly released several measures to support large-scale equipment renewal and consumer goods exchange programs.
Commercial vehicle sector is on the rise. Weichai Power (02338) rose by 8.58%. Two departments announced the policy of replacing old cars with new ones.
Goldman Sachs News | The commercial vehicle sector is generally rising. Weichai Power (02338) rose by 8.58%, Sinotruk (03808) rose by 6.91%, China International Marine Containers (02039) rose by 4.89%, Dongfeng Group (00489) and EV Dynamics Holdings Limited (00476) followed suit. On the news front, the National Development and Reform Commission and the Ministry of Finance issued several measures to support large-scale equipment updates and the replacement of consumer goods with old ones, raising the subsidy standards for automobile scrap replacement updates. CITIC Securities pointed out that the new version of the automobile replacement policy exceeds market expectations, and the stimulus to the automobile industry will be far greater than the end of April.
Hong Kong Stock Concept Tracking | In June, domestic sales of new energy heavy trucks increased by 149% year-on-year, while head enterprises in the natural gas heavy truck sector are profitable. (Attached concept stock) henry hub natural gas
Henry Hub natural gas heavy trucks are expected to drive the update of the heavy truck industry and boost the profitability of leading companies.
Calculating The Intrinsic Value Of Weichai Power Co., Ltd. (HKG:2338)
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.
HK stocks surge | Weichai Power (02338) opens nearly 3% higher after profit growth, and the group's net income is expected to increase by about 40% to 60% in the first half of the year.
Zhī tōng cáijīng APP learned that Weichai Power (02338) opened nearly 3% higher after its profit announcement, and as of the time of issue, it rose by 2.73%, reported at HKD 12.80, with a turnover of 86.807 million HKD. In terms of news, Weichai Power released an announcement that the net income attributable to its shareholders for the six months ending on June 30, 2024 is expected to be approximately RMB 5.46 billion to RMB 6.24 billion, an increase of about 40% to 60% from the six months ending on June 30, 2023. The announcement stated that the increase in net income attributable to shareholders was mainly due to the company's active efforts in the first half of 2024.
Weichai Power Attributes 1H Net Increase Partly to Lower Costs, Optimized Products>000338.SZ
Weichai Power Sees 1H Net CNY5.46B-Net CNY6.24B >000338.SZ
Weichai Power has announced a profitable year, with an estimated net income of approximately 5.46 billion to 6.24 billion yuan, a year-on-year increase of about 40% to 60% in the mid-term period.
Weichai Power (02338) announced that the net income attributable to shareholders of the parent company is expected to be approximately RMB 5.46 billion to RMB 6.24 billion for the six months ended June 30, 2024, an increase of approximately 40% to 60% compared to the six months ended June 30, 2023. The increase in net income attributable to shareholders of the parent company is primarily due to the company's active promotion of business and optimization of product structure in the first half of 2024, strengthening the implementation of cost-saving and efficiency-increasing measures, and significantly enhancing profitability, with performance achieving significant year-on-year growth.
Weichai Power: Weichai Power Co., Ltd.'s 2024 interim performance forecast.
Weichai Power (02338.HK) announced that the expected net profit for the first half of the year is expected to increase by about 40% - 60% year-on-year.
On July 14th, Geely announced that the expected net income attributable to the parent company's shareholders for the six months ending on June 30, 2024 is expected to be approximately RMB 5.46 billion to RMB 6.24 billion, an increase of about 40% to 60% compared to the six months ended June 30, 2023. The increase in net income attributable to the parent company's shareholders is mainly due to the company's active promotion of business and product structure optimization in the first half of 2024, strengthening the implementation of cost reduction and efficiency improvement measures, significantly enhancing profitability, and achieving substantial year-on-year growth in performance.
Weichai Power Anticipates Major Profit Jump
WEICHAI POWER: ANNOUNCEMENTPOSITIVE PROFIT ALERT
Express News | Weichai Power Sees H1 Net Profit up 40-60% Y/Y
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