On July 3, Weichai Power rose 3.06% in regular trading, trading at HKD 34.66/share, with turnover of HKD 112 million.
On the news front, CITIC Construction Investment Securities reiterated its Buy rating on the company, highlighting its accelerating transformation into an AI power infrastructure leader with strong earnings growth certainty. Citigroup previously reaffirmed its Buy rating and raised its target price to HKD 50, while Morgan Stanley expressed optimism that the company's natural gas engine small-batch delivery could be advanced from Q4 to Q3, with at least 200 units expected for the full year.
The stock had previously declined due to escalating US-Iran geopolitical tensions and sustained foreign institutional selling, including reductions by JPMorgan and Wellington Management. The current move reflects continued oversold rebound momentum following the prior cumulative selloff.
Within the Construction Machinery and Heavy Trucks sector, broad strength supported the recovery. Among individual stocks, SANY International up 6.73%, SINOTRUK up 4.17%, SANY Heavy Industry up 2.65%, CRRC up 1.75%, Times Electric up 1.63%.
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