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Hong Kong stock market anomaly | Bullish overlapping, Sinotruk continued to rise by more than 6%, recording 5 consecutive increases.
On November 21, Gelonghui reported that Sinotruk (3808.HK) surged more than 6% again, marking a 5-day increase of over 15%, with the stock price returning to 23 Hong Kong dollars and a total market capitalization of 63.6 billion Hong Kong dollars. In terms of news, the sales of heavy trucks in China in October were approximately 0.063 million units (wholesale, including exports and new energy), a month-on-month increase of 9%, but a year-on-year decrease of 22%. Caixin Securities pointed out that the old-for-new policy stimulates end-user demand, and heavy truck sales are expected to increase month-on-month by the end of the year. Additionally, the company recently increased its investment in Shandong Heavy Industry Financial Company, integrating its financial company. Furthermore, the company recently signed a global strategy cooperation agreement with jd.com.
Hong Kong stock market anomaly | Sinotruk (03808) is now up more than 6%. In October, heavy truck sales rebounded, Shandong Heavy Industry integrated its financial company.
Sinotruk (03808) is currently up over 6%, with a rise of 6.45% as of the time of writing, priced at 23.1 Hong Kong dollars, with a transaction volume of 26.7665 million Hong Kong dollars.
Express News | Sinotruk and jd.com signed a global strategy cooperation agreement.
[Brokerage Focus] Citigroup: Growth in China's electric heavy-duty truck market, xcmg construction machinery market share increasing.
Jinwu Financial News | Summary: Citigroup Research has provided the latest update on the electric heavy-duty truck (E-HDT) market in China. The report shows that in October, E-HDT deliveries increased by 4.6% month-on-month, reaching 8,250 units, and up 138.1% year-on-year. Sales in the first ten months of this year reached 56,800 units, representing a year-on-year increase of 142.6%. XCMG Construction Machinery's market share increased by 3.6 percentage points month-on-month in October, reaching 19.1%, while Sany Heavy Industry and FAW Jiefang Group's market shares decreased by 4.6 and 0.3 respectively.
Sinotruk Hong Kong Restructures Financial Operations
Sinotruk (03808.HK): Capital increase to Shandong Heavy Industry Finance Company.
Gelonghui November 12th | Sinotruk (03808.HK) announced that, in accordance with relevant Chinese regulations and policies, in order to implement the provision that a conglomerate can only establish one financial company, Shandong Heavy Industry proposed to integrate the resources of the two internal financial companies within the group (namely, Shandong Heavy Industry Financial Company and Sinotruk Financial Company). Sinotruk Financial Company is a non-wholly-owned subsidiary of the company, and is a non-bank financial institution approved by relevant Chinese government agencies to facilitate internal financing transactions. The board of directors has resolved to automatically liquidate in order to fully comply with relevant Chinese regulations and policies, and the automatic liquidation will involve according to its equity holders.
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