4 May 2026 | 8:23AM HKT Equity Research Weichai Power (000338.SZ): Raising estimates and TPs post 1Q26 results; maintain Buy Post 1Q26 results (see our first-take note here and NDR takeaways note here), we keep our 2026E EPS estimate largely unchanged but increase our 2027E-30E EPS estimates by 3-6% mainly to reflect faster-than-expected path to GW level shipment for gas gensets. Our 12-m TPs are lifted to HK$46.0/Rmb42.0 for H/A shares as we move to 22x average 2026E-27E EPS (vs. 2026E previously). We main ...

30 April 2026 | 1:17AM HKT Equity Research Weichai Power (000338.SZ): Read-across from Generac's 1Q26 results: hyperscaler validations underway; more capacity expansion likely Generac (GNRC, Not Covered) – a global leader in backup power systems and a key US partner of Weichai Power (via Baudouin‑branded large‑bore diesel engines) reported its 1Q26 results on Apr 29 and held an analyst briefing call. Share price was up 16% as of writing. We see positive read-across to Weichai from Generac's comments about 1 ...

30 April 2026 | 1:14PM HKT Equity Research Weichai Power (000338.SZ): NDR takeaways: More upside to the AIDC power gen business; Buy Weichai reported 1Q26 results on Apr 29 post market close (see our first take note here), and we held an NDR group call on Apr 30. Key takeaways around the AIDC power business point to 1) strong 1Q26 shipment momentum (+240% yoy) and a back-end loaded shipment schedule into 2H26; 2) notable near-term upside from gas gensets with a much-faster-than-expected path towards GW ship ...