Sinotruk (03808) rose more than 4% in the closing session, as of the time of publication, up 3.87% to HKD 20.15, with a turnover of HKD 76.485 million.
According to the news, Sinotruk (03808) rose more than 4% in the closing session, as of the time of publication, up 3.87% to HKD 20.15, with a turnover of HKD 76.485 million.
On the news side, Sinotruk previously released a profit forecast, expecting the equity shareholders' net profit attributable to increase by 30% to 45% to RMB 2.358 billion in the first half of 2024 compared to the same period in 2023. This is mainly due to the steady growth of the domestic macro-economy and the continuous growth of the overseas heavy truck market. The group seized market opportunities, achieved product sales growth, continued to strengthen cost control, and steadily improved profitability.
According to the research reports released by Fangzheng Securities, based on the insurance data, domestic heavy-duty trucks had approximately 0.21 million insurance policies in the first half of the year, a year-on-year decrease of 4.7%, and demand still needs to recover domestically. As of the end of 2022, the number of national stage III heavy-duty trucks in China was about 0.36 million, assuming that the old-for-new policy will bring about 10%-20% elasticity, considering the adjustment coefficient (taken at 40%) for the remaining five months, it is expected to drive a replacement scale of 0.015-0.03 million vehicles. The bank pointed out that benefiting from the leading advantage of nearly half of the export share and the continuous growth of the henry hub natural gas segment market, Sinotruk's market share increased to 28% in the first half of the year, firmly taking the industry's first place.