[ET Net News Agency, 5 September 2019] UBS Global Research lowered its target price for
Weichai Power (02338) to HK$13.2 from HK$13.6 and maintained its "neutral" rating.
The research house said Weichai's 1H net profit of Rmb5.3bn was in line with UBS's
estimate. There was an operating cash inflow of Rmb5.4bn.
At the earnings conference call, management said (1) industry heavy-duty truck (HDT)
sales could stay at 1.0-1.1m units this year, with natural gas (natgas) HDTs likely to
rise to 15-20% of overall HDT sales volume in the future (5-10% now); (2) Weichai-Sinotruk
integration is drawing to a close, Weichai will supply Sinotruk with engines <10L, and (3)
Weichai will increase capex and R&D spending on large-bore engines, Linde Hydraulics, and
fuel-cell engines. (KL)
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02338 WEICHAI POWER
Nominal 
11.620 -0.100 (-0.853%) Others
05/09/2019 17:55
{I-bank focus}UBS cuts Weichai Power (02338) to HK$13.2
| Remark: | Real time quote last updated: 23/09/2024 17:59 |
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