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Weichai Power Co., Ltd. (HKG:2338) Just Reported Third-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?
[Brokerage Focus] Bocom Intl maintains a buy rating on Weichai Power (02338), believing that the current valuation already reflects the downturn in heavy truck sales.
Golden Finance News | Bocom Intl released research reports pointing out that Weichai Power (02338) recorded a 4% decrease in third-quarter net income attributable to shareholders both year-on-year and quarter-on-quarter to 2.5 billion yuan (RMB, the same below), with a non-GAAP net income of 2.23 billion yuan, a 10.0% increase year-on-year and a 28.8% decrease quarter-on-quarter. Third-quarter revenue in 2024 was 49.46 billion yuan, down 8.8% year-on-year and 11.8% quarter-on-quarter. Although both revenue and net income decreased quarter-on-quarter, the performance still outperformed wholesale sales of heavy trucks during the same period. The gross margin for the third quarter of 2024 was 22.1%, exceeding the bank's and market expectations, with a 0.7 percentage point increase compared to the previous quarter, which I believe was mainly due to the period
Weichai Power's Q3 Profit Falls 4% as Revenue Slides 9%
Citi: Maintains a "neutral" rating on Weichai Power (02338) with a target price lowered to 12.6 Hong Kong dollars.
Citigroup lowered its forecasts for weichai power in 2025 and 2026 by 4% and 8% respectively.
EqualOcean Hong Kong Stock Early Knowing | Six Departments Accelerate the Construction of Large Wind Power and Photovoltaic Bases. Byd Company (01211) third-quarter net profit attributable to the mother is 11.607 billion yuan.
On October 30, Li Ka-shing and Li Zeju reduced their shareholding in Postal Savings Bank of China (01658) by 20.153 million shares, with a price per share of 4.6294 Hong Kong dollars, totaling approximately 93.2963 million Hong Kong dollars. The latest number of shares held after the shareholding reduction is approximately 1.186 billion shares, with the latest shareholding percentage at 5.97%.
Weichai Power: Report for the third quarter of 2024