The Zhitong Finance App learned that Sinotruk (03808) rose more than 6%. As of press release, it had risen 5.88% to HK$20.35, with a turnover of HK$972.354 million.
According to the news, Sinotruk announced its 2023 annual results. The group obtained revenue of 85.498 billion yuan (RMB, same below) during the period, an increase of 43.92% over the previous year; profit attributable to the company's equity shareholders was 5.318 billion yuan, an increase of 217.94%; basic profit per share was 1.93 yuan; and a final dividend of 0.965 yuan per share was proposed. The payout ratio increased from 46.2% in 2022 to 50.1% in 2023.
BOC International pointed out that in January-February of this year, Sinotruk's heavy natural gas truck sales increased 259% year on year, in line with the bank's previous report expecting Sinotruk to develop heavy natural gas trucks. The bank believes that as Sinotruk increases sales of heavy natural gas trucks, there is room for further increase in market share. Furthermore, according to preliminary data obtained by the First Commercial Vehicle Network, in March 2024, China's heavy truck market sold about 106,000 vehicles (invoicing caliber, including exports and new energy), up 77% from February.