On June 16, Weichai Power (02338.HK) fell 3.04% in regular trading, trading at HKD 36.96/share, with turnover of HKD 498 million, extending its recent downtrend.

On the news front, the company previously clarified on an investor interaction platform that it has no gas turbine products, directly denying market speculation around the SpaceX procurement of gas turbines for AI data center power supply concept, triggering accelerated withdrawal of concept-driven capital. Meanwhile, JPMorgan reduced its holdings by approximately 7.84 million shares on June 3 at roughly HKD 39.88 per share, totaling about HKD 313 million, lowering its stake to 8.78%. Wellington Management also reduced its position by approximately 2.50 million shares. On the capital flow side, A-share main funds recorded a cumulative net outflow exceeding RMB 1 billion in the prior week, while southbound funds net reduced 24.74 million shares over the past 20 trading days, with multiple selling pressures continuing to weigh on the stock price.

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