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Sinotruk Jinan Truck Co.,Ltd (SZSE:000951) Shares Could Be 28% Below Their Intrinsic Value Estimate
New round of cycle starting point? In February, the excavator domestic sales data "exploded" while the main machine manufacturers remain "calm" | Industry observation
① In February of this year, domestic excavator sales increased by 99.4% year-on-year; exports increased by 12.7% year-on-year. ② In Q1, the production scheduling of upstream supporting manufacturers grew rapidly year-on-year, and this year may enter a new rising cycle.
Guolian Minsheng Securities: Gas + New energy Fund "dual wheel drive" Heavy truck sales in February achieved growth both year-on-year and month-on-month.
Looking ahead to March, the old-for-new policy for National IV trucks is expected to gain momentum. As the heating season comes to an end, gas prices are likely to continue to decline, enhancing the economic viability of gas vehicles, which will further promote the recovery of the Industry, ushering in a "triple drive" of gas vehicles, electric vehicles, and the old-for-new policy.
Greater infrastructure support is "on the way". How elastic are the orders in the Construction Machinery Industry?
① This year's government work report further releases Bullish Signals, supporting "two重" construction with greater intensity; ② Orders for related Construction Machinery companies show signs of recovery after the Spring Festival, and after the start of several major Infrastructure projects this year, the order volume for machinery manufacturers is expected to rise.
Tianrun Industry Technology (002283.SZ): The company's Commercial Vehicle air suspension Business customers include SINOTRUK and others.
On February 28, Gelonghui reported that Tianrun Industry Technology (002283.SZ) stated on the investor interaction platform that armored vehicle suspensions have all-weather and all-terrain adaptability requirements, and typically use hydraulic suspensions rather than air suspension systems. The company's Commercial Vehicle air suspension business clients include SINOTRUK, FAW Jiefang Group, Dongfeng Huasheng, Beiqi Foton Motor, Anhui Hualing, Guangxi Liugong Machinery, and Hebei Changhua.
EVTank: In 2024, the sales of electric heavy trucks saw a year-on-year increase of 139.4%, reaching 0.0827 million units, driving the installation volume of Lithium Batteries for heavy trucks to 33.5 GWh.
Recently, the research institution EVTank jointly released the "White Paper on the Development of China's Electric Heavy Truck Industry (2025)" with the Yivi Economic Research Institute.
Here's What's Concerning About Sinotruk (Hong Kong)'s (HKG:3808) Returns On Capital
