Changes in Hong Kong stocks | Weichai Power (02338) fell more than 3% in early trading, and SoftBank cut single gas turbine orders, raising market concerns about power equipment demand

The Zhitong Finance App learned that Weichai Power (02338) fell more than 3% in early trading. As of press release, it decreased by 3.28% to HK$22.44, with a turnover of HK$57.1008 million.

According to the news, SoftBank Group's net loss for the second quarter of fiscal year 2026 was 1.12 trillion yen, the first quarterly loss in nearly two years. The core reason is that out of the $9.5 billion advance payment to lock in power generation equipment for US data centers, 3.7 billion US dollars was directly calculated and depreciated. The CFO of SoftBank acknowledged that SoftBank placed orders before the project plan was finalized and is currently undergoing a comprehensive re-evaluation of the procurement strategy.

J.P. Morgan analyst Julian Mitchell maintains GE Vernova's “excess” rating and a target price of $1,035, but believes the news sends a negative signal on demand for power equipment. He pointed out that GE Vernova was one of the companies initially listed as participants in a large-scale data center project in Ohio. At the same time, he cautioned that based on SoftBank's statement alone, it is not yet possible to determine whether GE Vernova's order will be affected.