HK Stock Market Move | Sinotruk Jinan Truck (03808) rose by more than 5% again. The domestic heavy truck export market hit a new high in 25 years. The company's export business will become the main driver of profit growth.

Sinotruk Jinan Truck (03808) rose by over 5%, as of the time of writing, it has increased by 4.67% to 36.32 Hong Kong dollars, with a trading volume of 3.71 billion Hong Kong dollars. On the news front, a research report from Kaiyuan Securities pointed out that China's heavy truck exports in 2025 are impressive, with an annual export of about 330,000 vehicles, reaching a new historical high. Currently, the overseas expansion of heavy trucks has shifted from a simple trade model to direct investment and localization operations. The infrastructure demand along the "Belt and Road" countries continues, with a significant increase in market share in Southeast Asia, the Middle East, and Africa, among other markets, apart from Russia. The industry has embarked on a long-term global growth logic. UBS released a research report stating that Sinotruk Jinan Truck's export business is strong, with continuous optimization of product structure, which will be the main DRIVE for profit growth in 2026. The report cited company management's statement that in the fourth quarter of 2025, Sinotruk Jinan Truck achieved double-digit sales growth year-on-year, with exports accounting for over 50%, becoming the mainstay of the business. It is noteworthy that the single vehicle profit of exported fuel heavy trucks is the highest, with a gross profit margin 2 to 4 percentage points higher than domestic sales. The company's current order backlog is full, and the production line has switched to a double-shift system to meet demand. Based on the strong momentum of the export business, UBS has raised Sinotruk Jinan Truck's revenue forecast for 2026 and 2027 by 7% and 8% respectively, and net profit forecast by 6% and 15%.