On September 30, SINOTRUK rose 3.19% in regular trading, trading at HK$36.24/share, with turnover of HK$171 million.

The rally was primarily driven by the company's recently published interim report showing robust H1 results. Revenue reached RMB 70.84 billion, up 39.2% year-over-year, while attributable profit climbed 26.2% to RMB 4.33 billion. The heavy truck segment generated RMB 64.8 billion in revenue, surging 44.5% YoY, with new energy heavy truck sales soaring 138.8% to claim the industry's top market share. The interim dividend of RMB 1.02 per share represented a record-high 65% payout ratio.

Multiple institutions have recently upgraded their outlook. CICC raised its target price to HK$57.11, citing better-than-expected earnings and potential for new energy truck profitability improvement. Daiwa upgraded the stock to Buy with a HK$49.2 target, while Citi initiated a Buy rating with a HK$55 target. CIBS also issued a first-time Buy, projecting attributable profits of RMB 8.7 billion and RMB 10.5 billion for the current and next fiscal year respectively. Export sales now exceed half of total volume, with management guiding for continued overseas growth.

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