Elevator Pitch
I maintain my "Neutral" rating on Hong Kong-listed Chinese heavy-duty truck or HDT engine manufacturer Weichai Power Co., Ltd. (WEICY) (WEICF) [2338:HK].
Weichai Power's revenue and earnings declined by -13.7% YoY and -20.3% YoY in 1Q2020 as a result of the coronavirus pandemic, but there have been signs of recovery since April. The company expects a double-digit growth in engine sales volume for full-year FY2020, backed by a strong recovery in sales for April. In the medium term, Weichai Power is expected to gain further market share in the