SINOTRUK (03808) surged over 4% in the afternoon session, reaching HK$28.24 by the time of writing, with a trading volume of HK$67.15 million. Market data from First Commercial Vehicle Network shows that China's heavy truck sales in October 2025 reached approximately 93,000 units, down 12% month-on-month but up 40% year-on-year compared to 66,400 units in the same period last year. Cumulative sales for the first ten months hit 916,000 units, making it certain that annual sales will surpass 1 million, potentially even reaching 1.1 million units.

CITIC Securities noted that domestic heavy truck sales prospects remain stable, coupled with sustained export growth, presenting opportunities for policy subsidy extensions and outperforming earnings from industry leaders. With replacement demand expected to rise in 2026 and continued export expansion, the sector is poised for steady high-volume performance. Should subsidy policies be extended, industry sentiment could further exceed expectations. Key factors to monitor include domestic subsidy extensions, macroeconomic stimulus measures, and the sustainability of export growth.