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<Research>BofAS Drops SINOTRUK's TP to HKD24.3, Reiterates Neutral Rating
Recommend 3 Positive 5 Negative 3 |
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According to a report from BofA Securities, SINOTRUK (03808.HK)'s 1H25 revenue rose by 4.2% YoY to RMB51 billion, yet it still fell short of the broker's estimate by 8%. SINOTRUK predicted that the wholesale volume of heavy trucks in China would increase by 11% to 1 million units in 2025, with more than 1 million units expected in the following two years. The subsidy for truck trade-ins is predicted to boost demand in 2H25. In the management's estimate, the penetration rate of new energy heavy and light trucks will exceed 30% from 2026 onward thanks to the Chinese end market expansion. BofA Securities dropped its target price for SINOTRUK from the original HKD25.4 to HKD24.3, reiterating a Neutral rating. AAStocks Financial News |
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