First Tractor Shares (00038) rose more than 5% and rose 5.56% at press time to HK$6.83, with a turnover of HK$13.45 million.
The Zhitong Finance App learned that First Tractor Shares (00038) rose by more than 5% and rose 5.56% at press time to HK$6.83, with a turnover of HK$13.45 million.
In terms of performance, the company previously announced results for the year ended December 31, 2023. The group achieved total operating revenue of RMB 11.534 billion, a year-on-year decrease of 8.2%, and net profit attributable to shareholders of listed companies of 997 million yuan, an increase of 46.39% over the previous year. Basic earnings per share were $0.8873. It is proposed to distribute cash dividends of 0.3194 yuan per share (tax included) to all shareholders. The report shows that in the face of the challenges brought about by the national four switch, the company took the initiative to seize the opportunity of “Dongfanghong” tractors to take the lead in fully implementing the national four switch and mass marketing.
Dongwu Securities said that in terms of the $5 trillion equipment renewal campaign, agriculture ranked second among the seven major areas it focused on. The bank believes that large-scale equipment renewal and trade-in will become a new engine for the agricultural machinery industry: from a demand perspective, a new round of policy support will help to quickly stimulate consumption intentions and enhance investment confidence; from a supply perspective, a new round of policy stimulation of demand will indirectly improve the profitability of agricultural machinery enterprises, thus ensuring that agricultural machinery enterprises have sufficient capital to invest in the direction of independent innovation, raise the level of high-end and intelligent agricultural machinery equipment in China, and promote the upgrading of China's agricultural machinery industry.