Changes in Hong Kong stocks | Sinotruk (03808) rose more than 3%, agency says the industry still has export space and potential, and the company focuses on overseas production base construction

The Zhitong Finance App learned that Sinotruk (03808) rose more than 3%. As of press release, it had risen 3.34% to HK$30.28, with a transaction of HK$128 million.

According to the news, the CITIC Construction Investment Research Report points out that sales in the heavy truck industry have rebounded in the past two years, mainly due to scrapping and renewal subsidies driving the elimination of old models such as national 3 and 4 and stimulating domestic demand, driven by structural increases such as gas vehicles & new energy, and export growth exceeding expectations. Looking ahead to 2026, the demand for natural waste renewal in country 4 plus country 5 will support a domestic sales scale of 700,000, combined with non-Russian regions driving export growth, and total sales will remain around 1.1 million. Exports can reach nearly 700,000 in market space, and there is still potential for further volume growth, so we are optimistic about the mid-term upward trend in the industry cycle.

Bank of America Securities said it held a conference call with Sinotruk. Management said that Sinotruk's annual sales target of 300,000 vehicles is progressing smoothly. The company is steadily advancing sales and profit margin targets for 2025, and stated that it will maintain a prudent capital expenditure plan between 2025 and 2027, with a focus on investing no more than 2 billion yuan per year in overseas production facilities (such as Kazakhstan, Brazil, and Indonesia). The bank is still optimistic about the company's long-term export expansion business story and stable position in the local market. Orient Securities believes that, benefiting from factors such as the full implementation of the trade-in policy, the increase in the penetration rate of new energy heavy trucks, the maintenance of a high export boom, and a low base for the same period last year, sales in the heavy truck industry grew rapidly year-on-year in the third quarter, and the company clearly benefited as a leading enterprise in the heavy truck industry.