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In July, China's heavy truck sales fell by about 17% to approximately 0.059 million vehicles on a month-on-month basis. Sinotruk (03808) won the championship.
According to the latest data from the First Commercial Vehicle Network, China's heavy truck market sold approximately 0.059 million vehicles (wholesale, including exports and new energy) in July 2024, a 17% decrease compared to June and a 4% decrease from the same period last year, a reduction of approximately 2,000 vehicles.
Soochow Securities: Heavy trucks will transition from incremental market to stock renewal market.
Within 24 years, domestic demand is recovering weakly with support provided by the growth of highway freight volume. The oil and gas price differential remains high, driving the continuous high growth of natural gas heavy trucks from an economic perspective; policy-driven new energy heavy truck is accelerating its sales volume.
Soochow Securities: Terminal demand for heavy truck industry is flat, new energy funds perform well.
Over the next 24 years, as the economy weakly recovers, the growth of road freight volume is providing support for maintain quantity. The high oil and gas price differential is driving the continuous growth of natural gas heavy trucks due to economic reasons. Policy-driven new energy heavy trucks are being accelerated. High export growth in non-Russian regions offsets the decline in Russia, and the entire year's exports have resilience. The elimination of old trucks may lead to substantive subsidy policies to scrap National III/IV vehicles.
GEMILANG INTL: 2024 Interim Report
Gemilang International's Profit Rises for Six Months Ended April 30
Performance: Gemilang Intl (06163.HK) mid-term net profit increased 1.8 times to $740,000 without dividend.
Gemilang Intl (06163.HK) announced its interim performance for the six months ending in April, with revenue of $8.81 million, an increase of 117% year-on-year. Net profit was recorded at $740,000, an increase of 183%, with earnings per share of 0.29 cents. No interim dividend will be paid.
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