Since the beginning of this year, the investment value of Weichai Power has gradually been recognized and revalued by the market, which is not only due to the company's forward-looking layout and accelerated commercialization in strategic emerging businesses such as data center power and energy, but also inseparable from the company's long-term high attention to market value management and systematic promotion.

In terms of business transformation layout, Weichai Power relies on advantageous industries such as powertrain, complete vehicles, smart logistics, and agricultural equipment to fully promote strategic upgrading and accelerate its comprehensive advancement towards becoming a provider of integrated power energy solutions. The company has successfully established a new performance growth curve by laying out core emerging businesses such as diesel power generation, natural gas power generation, and SOFC (Solid Oxide Fuel Cell) in data centers.

Looking back at Weichai Power's industrial layout, the company has a high degree of strategic foresight. Since the acquisition of Baudouin France in 2009, we have strategically invested in PSI in the United States and Xilith in the United Kingdom, creating a full spectrum of power generation products that are compatible with various fuels such as diesel, natural gas, and methanol. We have also laid out SOFC fuel cell technology, covering multiple scenarios from emergency backup power to low-carbon primary power sources; We have opened up overseas power and energy channels in Europe, the United States, and other regions. Through product exports, overseas subsidiaries, and other means, we have deeply cooperated with global leading partners in power equipment and quickly entered high growth areas such as data centers.

In the context of the rise of the AI industry and the power shortage in North America, Weichai Power relies on its strategic layout in the early stage to quickly seize the growth opportunities of the power energy industry. Data shows that Weichai Power Data Center's business of using large bore engines maintains a high-speed growth momentum. By 2025, the sales volume will exceed 1400 units, a year-on-year increase of 259%; In the first quarter of 2026, sales exceeded 500 units, a year-on-year increase of 240%, and the pace of product delivery continued to accelerate. At the same time, the company is accelerating the development of natural gas power generation products, expanding global markets, and coordinating with customers. Relevant products will be launched on the market in the second half of the year. In addition, the company is fully committed to accelerating the construction of SOFC production capacity, striving to achieve mass production within the year, and will coordinate with market demand and industry development trends to prepare for future capacity expansion and delivery. The above progress means that the company's power energy business will gradually enter a commercial realization cycle of scale and high growth rate.

In terms of market value management, the company's management attaches great importance to it and continuously strengthens communication and exchange with the capital market through various methods such as performance briefing meetings, forward and reverse roadshows, and business thematic exchanges, accurately conveying the company's development strategy, operating results, and core investment value. At the same time, the company attaches great importance to shareholder returns and has continuously increased its dividend ratio in recent years, actively promoting share repurchases. By 2025, the annual dividend ratio (including repurchases) will reach 65%. In addition, the company's ESG management level has continued to improve in recent years, with its Wind rating ranking first in the construction machinery and heavy truck industry. From the perspective of stock price performance, Weichai Power's H-shares currently have a premium of about 5% compared to A-shares, making it one of the few A+H listed companies in the market with inverted prices. This fully reflects the high recognition of the company's value by international investors.

The sustained growth momentum released by Weichai Power confirms the effectiveness of its strategic layout and has been recognized by top international investment institutions. Goldman Sachs, Morgan Stanley, JPMorgan Chase, and others have all given the company a "buy" rating. Looking ahead to the future, we believe that Weichai Power will rely on its excellent strategic layout and market value management practices, relying on advantageous industries such as powertrain, complete vehicles, smart logistics, and agricultural equipment, to continue to deeply cultivate the electricity and energy market, and continuously create higher returns for shareholders and other stakeholders.Editor/Cheng Liting