Sinotruk (03808) saw its shares drop nearly 5% in afternoon trading. As of press time, the stock was down 3.87% at HK$31.28, with a turnover of HK$140 million.
On the news front, according to data from First Commercial Vehicle Network, China's heavy truck market sold approximately 95,000 units in September this year, a decline of about 10% compared to 106,000 units in the same period last year. This marks the fourth year-on-year decline for the heavy truck industry this year and the third consecutive monthly drop. For the first nine months, sales grew approximately 13% year-on-year, with cumulative growth further slowing.
Guotai Haitong Securities pointed out that the year-on-year decline in wholesale sales in the September heavy truck market was mainly due to the high base from last year when the National IV trade-in policy drove sales, while the inventory of National IV trucks this year has decreased compared to last year, making the stimulus effect of the trade-in policy relatively limited. In addition, the market is still digesting the impact of demand pulled forward by the transition to heavy truck AEBS regulations.
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