Multiple Growth Drivers Resonate: Sinotruk Delivers Best-Ever Third Quarter Results(Oct 29)

Multiple Growth Drivers Resonate: Sinotruk Delivers Best-Ever Third Quarter Results

Source: Sina Finance / Shanghai Securities News

On October 27, Sinotruk released its third-quarter report. The company achieved revenue of 53.497 billion yuan in the first three quarters, up 32.12% year-on-year; net profit of 1.441 billion yuan, up 37.23%; and non-GAAP net profit of 1.4 billion yuan, up 42.11%. All three core metrics hit historical highs for the same period.

In the third quarter alone, revenue reached 15.086 billion yuan with net profit of 468 million yuan, up 5.29% and 22.77% respectively. Profit growth far outpaced revenue growth, reflecting significantly improved earnings quality. Gross margin increased 1.69 percentage points year-on-year in the third quarter, with period expense ratio at just 1.83%, a historical low, down 0.57 percentage points from last year.

Overseas exports have become a critical growth engine. Export sales now account for over 50% of total sales, covering more than 150 countries and regions worldwide, with deep cultivation of core markets in Africa, Southeast Asia, Central Asia, and the Middle East. The company continues to advance localization and customization strategies through its international platform, with overseas market share ranking among the industry leaders.

New energy heavy trucks represent another key growth track. Industry data shows that NEV heavy truck penetration rate reached 50.28% in September, driven by widening fuel-gas price spreads. Sinotruk has launched customized products including HOWO TS NEV dump trucks and HOWO NEV container tractors, landing projects in Northwest mining regions and Shanghai. The company NEV heavy truck production and sales growth rates are outpacing the industry.

Industry forecasts remain optimistic for the full year. With the heavy truck trade-in policy confirmed to continue in 2026, domestic heavy truck sales are expected to keep rising, with total annual sales potentially reaching 1.25 million units and exports maintaining growth momentum.

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