Sinotruk (03808) rose more than 5% and rose 5.18% at press time to HK$20.3, with a turnover of HK$29.08 million.
The Zhitong Finance App learned that Sinotruk (03808) rose by more than 5% and rose 5.18% at press time to HK$20.3, with a turnover of HK$29.08 million.
According to the news, the First Commercial Vehicle Network published an article stating that according to China Automobile Association data (enterprise billing volume, non-terminal actual sales volume, same below), in February 2024, China's truck market (including chassis and tractors) sold a total of 215,000 vehicles, down 26% from January this year, and also showed a 26% year-on-year decline. Among these, the heavy truck market (including chassis and tractors) sold 59,800 units, down 38% month-on-month and 23% year-on-year. The year-on-year increase turned negative last month (+99%), showing both month-on-month and year-on-year declines. Next, we will enter the traditional “peak season” of the heavy truck market. The data shows that the average sales volume of the heavy truck market in March and April 2023 is close to 100,000 units, of which 1.154 million units were sold in March.
Dongwu Securities released a research report saying that with the triple support of heavy gas trucks+bid switching+steady export growth, the heavy truck sector is expected to start a new upward cycle in 24-25. 1) In the medium to long term, the three factors of heavy gas truck+bid switching+steady increase in exports resonate, and are firmly optimistic about the 2024-2025 upward cycle. From 2024 to 2025, the domestic heavy truck industry's wholesale sales volume is expected to be 112/1.3 million units, respectively, +21.3%/+15.9% year on year; 2) In the short term, 24H1 sales volume of heavy trucks, especially natural gas heavy trucks, is expected to increase, driven by factors such as falling gas prices and the introduction of trade-in policies, which will drive strong performance.