China Sinotruk: The market share of China Qingka rises to the second market in the industry

China Sinotruk (3808.HK) recently disclosed the mid -term performance in 2022. In the past ten years, the sales volume and market share of heavy trucks for the first time in the past ten years are "double first". promote. In the first half of 2022, the company's domestic light card market accounted for 15%, an increase of 1.2 percentage points year -on -year, ranking second to the industry. Among them, the mainstream product share of the 2.5/2.3L industry is nearly 26%, ranking first in the industry.

According to reports, in the first half of this year, the company actively responded to the industry's "new blue cards" regulations and policies, proactively adjusted the product structure, continued to carry out strategic transformation, and carried out new products such as 2.3L, 2.5L, AMT automatic transmission models. And market adaptability continues to improve product quality. At the same time, through further enriching the product line, the company has achieved comprehensive coverage of the mid -to -high -end market, and has created a new product portfolio advantage for the entire scene and the entire road conditions. In addition, the company continues to optimize the elimination of the low -efficiency network, and the quality of channel network operation has improved significantly. As of the first half of the year, the company had about 1,000 light card dealers in China, about 2,200 service stations provided light card products after -sales service, and about 130 modified companies provided light card products related modification services.

In the industry, in the first half of this year, in the context of the overall decline in the commercial vehicle industry, the decline in light card sales was far less than the sales decline in heavy truck sales, mainly because the light card industry was closely related to the daily consumption of residents. With the stability of the macro economy, the recovery of residents' consumption will drive the rapid recovery of urban logistics and intercity logistics, bringing opportunities to the light card industry. At the same time, compliance will be the development trend of the light card industry in the next few years. With the new rules of the blue brand, the governance of large tons of small tons and illegal modification governance have entered the normalization, which further reduced the capacity of bicycle and accelerated the elimination and update of the stock market. China ’s Sinotruk’ s market share in the first half of the year, especially the advantages of the market share of 2.5/2.3L light card products, is expected to create higher market value in the future.

In addition, the incremental market of light stamps in the direction of new energy may bring more opportunities to China Sinotruk. The company's new energy cards have achieved batch sales in many places in Chengdu and Beijing.

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