HK Stock Market Move | Sinotruk Jinan Truck (03808) fell nearly 4% in morning trading as heavy truck industry sales declined in the off-season, with Sinotruk A's third-quarter results showing a notable quarter-on-quarter decline.

Sinotruk Jinan Truck (03808) fell nearly 4% in morning trading. As of press time, it was down 2.63% at HK$31.78, with a turnover of HK$51.4364 million. On the news front, Sinotruk Jinan Truck A-shares released its results, with third-quarter revenue of RMB15.09 billion, up 5% year-on-year and down 19.5% quarter-on-quarter; net profit attributable to shareholders was RMB470 million, up 22.8% year-on-year and down 9.6% quarter-on-quarter. The main reason for the Q3 performance decline was the impact of a quarter-on-quarter drop in heavy truck industry sales during the off-season. According to First Commercial Vehicle Network data, in September this year, China's heavy truck market sold a total of about 95,000 units, down about 10% from 106,000 units in the same period last year. It is worth noting that Sinotruk Jinan Truck H and the A-share listed company Sinotruk Jinan Truck A share the same abbreviation "Sinotruk Jinan Truck," but their equity structures and asset compositions are clearly different. Sinotruk H holds a 51% stake in Sinotruk A, and in terms of equity ownership, Sinotruk A is subordinate to Sinotruk H.