Sinotruk (03808) rose more than 4%. As of press release, it rose 4.48% to HK$21, with a turnover of HK$236.566 million.
The Zhitong Finance App learned that Sinotruk (03808) rose more than 4%. As of press release, it had risen 4.48% to HK$21, with a turnover of HK$236.566 million.
According to the news, according to the latest data obtained by the First Commercial Vehicle Network, in March 2024, China's heavy truck market sold about 109,000 vehicles (invoicing caliber, including exports and new energy), up 82% from February, a slight decrease of 6% from 115,000 vehicles in the same period last year, and a net decrease of about 6,000 vehicles. Among them, in the March market “qualifying”, Sinotruk won the championship with 29,000 vehicles, and its market share reached 28.4%, continuing its strong performance.
BOC International previously stated that the company's heavy truck recovery in 2023 was strong, and net profit to mother increased sharply year-on-year. Furthermore, as an industry leader, the company will benefit from the recovery in heavy truck sales, and its market share is expected to increase further. The bank maintains Sinotruk's “buy” rating and slightly raised its 2024/2025 profit forecast. The target price was raised from HK$25.06 to HK$26.49.