Sinotruk (Hong Kong)
|This article does not cite any references or sources. (April 2013)|
|State-owned enterprise (Red chip)|
|Industry||Truck manufacturing and sales|
|Headquarters||Hong Kong, People's Republic of China|
|People's Republic of China|
|Chairman: Mr. Ma Chunji|
|Owner||CNHDT Group (75%)
MAN SE (25%)
|Website||Sinotruk (Hong Kong) Limited|
Sinotruk (Hong Kong) Limited (SEHK: 3808) is incorporated in Hong Kong in 2004. Its parent company, China National Heavy Duty Truck Group, is the third largest heavy truck manufacturer in Mainland China located at Shandong.
It was listed in the Hong Kong Stock Exchange on 28 November 2007. At the first trading day, its share price was closed at HK$10.86, which is much lower than its IPO price, HK$12.88, due to poor investment atmosphere in the sliding stock market at that time.
Since 10 March 2008, Sinotruk (Hong Kong) joined Hang Seng China-Affiliated Corporations Index Constitute Stock (red chip stock).
In 2009, the German truck maker MAN bought a 25% + 1 share stake in Sinotruk (Hong Kong).
Sinotruk manufactures cargo trucks and semi-tractor trucks that are used in a range of industries including construction, container transportation, mining and steel production (Howo and Sitrak).
The company and its state-owned parent sold around 125.000 heavy duty trucks in 2009 and accounted for about 20.1 per cent of China's heavy duty truck market. Sinotruk's overseas sales, mostly to developing markets such as countries of the former Soviet Union and Middle East states, accounted for about 19 per cent (FY2007) both in terms of units sold and revenue.
Fuel-efficient trucks currently account for about 80 per cent of the company's production.