HK stocks surge | First Tractor (00038) now up more than 5%, agricultural machinery update subsidy policies targeting multiple models. Institutions bullish on policy's positive impact on agricultural machinery.
First Tractor (00038) is now up over 5%. At the time of publication, it is up 5.06%, at HKD 6.64, with a turnover of HKD 39.4686 million.
HK stocks surge | Construction machinery stocks rise collectively as large-scale equipment upgrades continue to be pushed forward. The expected excavator exports in July are turning positive for the first time.
Construction machinery stocks rose collectively in early trading. As of press time, Sinotruk (03808) rose by 11.44%, to HKD 19.68; Sany Int'l (00631) rose by 6.5%, to HKD 4.59; First Tractor (00038) rose by 6.49%, to HKD 6.73.
First Tractor (601038.SH): Has not yet produced a combine harvester.
On July 24th, Gelunhui reported that First Tractor (601038.SH) stated on the investors' interactive platform that the Dongfanghong YT6668 large-scale efficient grain combine harvester is a product of the company's controlling shareholder, China First Tractor Group Co., Ltd. The company has not yet produced a combine harvester.
Hong Kong stock market concept tracking: Sales of construction machinery industry rebound, with demand in the midstream machinery industry in a weak recovery trend (with concept stocks)
Multiple institutions indicate that excavator export sales are expected to turn positive in the second half of the year.
First Tractor Co Schedules 2024 EGM
Soochow Securities: Breakthrough in the electrification process, domestic leaders are expected to overtake the curve through electrification.
Zhizhong Finance APP learned that Soochow Securities believes that electrification will open up a new round of growth space for construction machinery.
First Tractor Co Announces Board Nominees
First Tractor Co Announces Upcoming EGM
First Tractor (00038) nominated Lixiaoyu, Yang Jianhui and Miao Yu as director candidates.
First Tractor (00038) released an announcement stating that the company holds the ninth meeting of the Board of Directors on July 12, 2024, ...
Is Now The Time To Put First Tractor (HKG:38) On Your Watchlist?
Changjiang Securities: Domestic repair product line diffusion, excavator exports expected to turn positive in a single month.
The domestic cycle trend is clear, with short-term sales improvement of product lines, such as loaders and other non-excavation products, being diffused from excavators. In the medium and long term, driven by natural equipment updates, policy stimulus, electrification and other factors, the industry is expected to accelerate its upward trend, and the leading companies are expected to continue to benefit.
Haitong Sec: Mid-to-high-end manufacturing has strong resilience, and the home appliance, autos and machinery industries may perform relatively steadily.
ZhITong Finance APP learned that Haitong Securities released research reports stating that under the disturbance of Sino-US trade relations, home appliances, autos, and machinery may perform relatively steadily thanks to their supply advantages and demand hedging.
Northeast securities: siasun robot&automation industry has diversified development, and the data of construction machinery continues to improve.
More companies participated in this AI conference, and the product side is more mature. Domestic robot companies include Tesla, Kepler, Dato, and Tianlian. From the perspective of application scenarios, there is an accelerating trend of exploration in commercial areas such as hospitals, retirement homes, education and research within this year.
HK stocks volatility | First tractor (00038) fell more than 5% again, management changes in the company, institutions said the market is concerned about the gradual decline of agricultural machinery industry subsidies.
First Tractor (00038) fell more than 5% again. As of press time, it has dropped by 5.14%, with a closing price of HKD 6.46 and a turnover of HKD 21.6287 million.
First Tractor's Chairman Steps Down; Hong Kong-Listed Shares Down 5%
HK stock market abnormality | First Tractor (00038) fell more than 6% during the intraday trading due to the resignation of the chairman and two directors. Institutions are still bullish on the company's growth potential.
First Tractor (00038) fell more than 6% during trading, and as of writing, it has fallen 4.89% to HKD 6.81, with a turnover of HKD 23.8191 million.
Hong Kong stock concept tracking | Excavator sales continued to grow positively in June. The inflection point of domestic sales of construction machinery is evident, and it is expected to open a new round of upward cycles. (Attached concept stocks)
Shanghai Securities believes that the equipment renewal subsidy policy is expected to promote the recovery of domestic market demand, and the bottom signal is becoming increasingly clear. With the promotion of equipment renewal policy and the implementation of government bond projects to form physical workload, the domestic demand for engineering machinery market may enter the upward phase from the bottom.
Leadership Changes at First Tractor Company
First Tractor Co Announces Board Structure
First Tractor (00038): Liu Jiguo resigned from the position of chairman of the board of directors.
First Tractor (00038) has announced that its board of directors has recently received resignation letters from Mr. Jiguo Liu, Mr. Zhiyu Zhang, and Mr. Bin Zhang. Mr. Liu has requested to resign from his positions as Chairman of the 9th Board of Directors, Director, Chairman of the Strategy, Investment and Sustainable Development Committee, and Member of the Nomination Committee due to age. Mr. Zhiyu Zhang has requested to resign from his position as director and member of the Audit Committee due to age. Mr. Bin Zhang has requested to resign from his position as director and member of the Remuneration Committee due to job change. After their resignation, Mr. Jiguo Liu, Mr. Zhiyu Zhang, and Mr. Bin Zhang
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