First Tractor Shares (00038) rose more than 4%. As of press release, it had risen 4.04% to HK$7.47, with a turnover of HK$12.279,900.
The Zhitong Finance App learned that First Tractor Shares (00038) rose by more than 4%. As of press release, it had risen 4.04% to HK$7.47, with a turnover of HK$12.279,900.
Huaxin Securities previously stated that China, as an important global agricultural exporter, has a domestic agricultural machinery market of 561.1 billion yuan in 2022, and is expected to reach 719.6 billion yuan by 2027. As a leader in the tractor industry, Yituo Co., Ltd. has a rich product matrix. With years of technology accumulation and channel development, the “Dongfanghong” brand is deeply popular. Product sales and sales are far ahead. Benefiting from policy requirements such as agricultural machinery equipment safety and agricultural machinery equipment renewal, the company's market share is expected to increase further in the future.
Zhongyuan Securities believes that after the introduction of large-scale equipment renewal and consumer trade-in action plans, local governments have successively introduced corresponding policies and rules, which are expected to drive the stock of old agricultural machinery to speed up scrapping and replacement and promote the growth in demand in the tractor market. As a leader in the tractor industry, Yituo Co., Ltd. is expected to fully benefit from the trend of large-scale equipment renewal of agricultural machinery.