Weichai Power; Time to Revisit, GE Aero & IHI, KR Equity; leverage ETF unwind ~75% done

研报英文原文证据摘录

Weichai Power; Time to Revisit, GE Aero & IHI, KR Equity; leverage ETF unwind ~75% done

been playing the Jereh long–Weichai short pair for Jereh’s US AIDC primary power exposure,

while Weichai waits for its US certificate (product launch took place in June and is on track to win US certificate by August).

With a solid earnings outlook at Weichai & Jereh expected to miss, investors are now revisiting Weichai Power as long for its

attractive valuation and the upcoming US certificate win catalyst with most existing Jereh long/Weichai short pair being

closed. For 2Q26 earnings, investors are comfortable with expectations of 12–15% YoY NP growth, while some suggest a

strong parent company AIDC-related report could support a positive earnings surprise, expecting >15% NP growth YoY.

Within my China coverage, Weichai Power and CATL are the two names where I saw the most investor interest for dip

buying, with sentiment also improving on BYD ahead of the 2Q earnings print.

Global X-Across: GE Aerospace (GE US); Bar was high, but fundamentals strong and upside remains; Reit OW - Seth

Seifman

• GE’s Q2 results and higher guidance were solid, but the stock underperformed due to elevated expectations—a pattern seen

before, with typical rebounds. The key focus remains on CES Services sales, where we remain confident in demand, modeling

13–14% growth in 2H26 and double-digits next year, and see the new low-20s 2026 growth target as achievable. While

Services orders didn’t meet high expectations, they remain elevated with a growing backlog, and supply constraints—not

demand—are likely to govern near-term sales. Margins are expected to plateau until 2028, with meaningful expansion

resuming as LEAP profitability improves and 9X losses abate.