HK Stock Market Move | First Tractor (00038) increases by nearly 4%, the company is expected to benefit from the upgrading of agricultural machinery equipment, and the proportion of export business is expected to expand.

Yesterday, First Tractor (00038) rose by 10%, and this morning it rose by nearly 4%. As of press time, it has risen by 3.03%, to 8.16 Hong Kong dollars, with a trading volume of 60.3755 million Hong Kong dollars. On the news front, Minister of Agriculture and Rural Affairs, Han Jun, recently published an article titled "Improving the Comprehensive Production Capacity and Quality and Efficiency of Agriculture": Implementing the high-quality development action of agricultural machinery and equipment, promoting the research and application of high-end intelligent and suitable agricultural machinery and equipment in hilly and mountainous areas, deeply carrying out integrated pilot projects of agricultural machinery research, manufacturing, and promotion, implementing subsidies for the purchase and application of agricultural machinery, and strengthening the promotion and application of advanced and suitable agricultural machinery. Goldman Sachs released a research report stating that First Tractor is in a favorable position to capture the structural growth opportunities brought by the large-scale/high-end upgrade trend of tractors in China and to realize long-term export potential. These transformations should push First Tractor's profit margins and returns closer to global peers and drive accelerated profit growth. The bank estimates that by 2030, the proportion of exports in the company's total revenue will double.