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HKG:2338

8 stories mentioning HKG:2338Updated 22d ago

Every FINWIRES story that references HKG:2338, newest first.

Asia

Fitch Affirms BBB+ Ratings of Weichai Power, With Stable Outlook

Fitch Ratings affirmed Weichai Power's (SHE:000338, HKG:2338) long-term foreign-currency issuer default and senior unsecured rating at BBB+, with a stable outlook.The ratings reflect the company's dominant position in China's heavy-duty truck engine and vehicle markets, supported by solid profitability and a strong net cash position, according to a Wednesday research note.The rating agency views Weichai Power's expansion into higher-margin power-related businesses as credit positive, potentially supporting growth and improving end-market diversification.

HKG:2338SHE:000338
Asia

Weichai Power Controlling Shareholder Plans to Raise Stake; Shares Up 3%

Weichai Power (SHE:000338, HKG:2338) controlling shareholder Weichai Holding Group plans to boost its A-share holdings by 200 million yuan to 400 million yuan.The move will be undertaken via centralized bidding over the next six months, according to a Wednesday filing with the Shenzhen bourse.Shares of the power company rose 3% in recent trade on the Shanghai and Hong Kong bourses.

HKG:2338SHE:000338
Asia

Weichai Power Proposes A-Share Purchase of Up to 400 Million Yuan

Weichai Power's (HKG:2338) holding company, Weichai Holdings, has proposed buying between 200 million and 400 million yuan of the company's A-shares via Shenzhen Stock Exchange centralized bidding.The implementation will occur over six months starting from the announcement date, using a mix of self-owned funds and a 360 million yuan bank loan.Weichai Holdings also commits not to reduce its stake during the purchase period and statutory restriction period, according to a bourse filing on Tuesday.

HKG:2338
Asia

Weichai Power Raises Caps on 2026 Related-Party Transactions; Shares Up 7%

Weichai Power (HKG:2338, SHE:000338) raised the annual transaction caps for related-party transactions for the year, according to a Shenzhen bourse filing on Saturday.The Chinese power company's Shenzhen shares jumped 7%, while Hong Kong shares climbed 3% during Monday's morning trade.The amount for sales was estimated to increase to 44 billion yuan from 11.5 billion yuan in the previous year.The cap for the amount of purchases was raised to 19.3 billion yuan from 16.1 billion yuan a year earlier.

HKG:2338SHE:000338
Asia

Jefferies Adjusts Weichai Power's Price Target to HK$50.80 From HK$46.40, Keeps at Buy

Weichai Power (HKG:2338) has an average rating of buy and mean price target of HK$45.49, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

HKG:2338
Asia

Market Chatter: Chinese Companies to Invest 940 Million Euros in AI, Cars in Serbia

Chinese companies will invest an additional 940 million euros into Serbia, beginning in July, Bloomberg reported Wednesday, citing President Aleksandar Vucic.Companies with investment agreements include Minth Group (HKG:0425), Shandong Linglong Tyre (SHA:601966), Changzhou Xingyu Automotive Lighting Systems (SHA:601799), Yusei Holdings (HKG:0096), Shanghai AgiBot Innovation Technology, Weichai Power (HKG:2338, SHE:000338), Zhejiang EV-Tech, Jiangsu Reliance Energy, and China Construction Fourth Engineering Division, the report said.The investments will go to auto parts production, humanoids, energy, and artificial intelligence projects, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0096HKG:0425HKG:2338SHA:601799SHA:601966SHE:000338
Asia

Market Chatter: China's Weichai Wards Off KKCG Challenge, Ends Board Clash at Italian Yachtmaker Ferretti

Shareholders in Ferretti voted to retain China-based Weichai Group on its board, defeating Czech investor KKCG's governance bid, Reuters reported Thursday, citing two sources close to the matter.The vote ended CEO Alberto Galassi's 12-year tenure at the Italian yachtmaker after shareholders named new directors, the report said.Even if shareholders voted against KKCG control, the boardroom uncertainty remains as the Czech investor will appeal the vote, according to Reuters.During the annual meeting, KKCG sought to suspend Weichai's voting rights by invoking Italy's "golden power" rules, which allow the Italian government to veto corporate deals deemed to undermine national security, Reuters said.KKCG also sought to postpone the meeting to allow for further checks, but both motions were denied, according to the sources.Weichai counts Weichai Power (HKG:2338, SHE:000338) and Weichai Heavy Machinery (SHE:000880) as its subsidiaries.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:2338SHE:000338SHE:000880
Asia

Weichai Power's Profit Climbs 14% in Q1

Weichai Power (HKG:2338, SHE:000338) recorded a 14% rise in attributable profit in the first quarter of 2026 to 3.09 billion yuan from 2.71 billion yuan a year prior, according to a Wednesday Hong Kong bourse filing.Hong Kong-listed shares of the Chinese equipment maker were up 7% in Thursday afternoon trading, while China-listed shares were up over 3%.Earnings per share rose to 0.36 yuan from 0.31 yuan in the corresponding period of the previous fiscal year.Revenue increased 8.9% to 62.6 billion yuan from 57.5 billion yuan in the year-ago period.

HKG:2338SHE:000338

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