Orient Securities Research Report pointed out that Sinotruk's gross margin improved month-on-month, and the share of heavy truck exports increased further. Net profit to mother for the first three quarters was $1,441 million, up 37.2% year on year; net profit for the third quarter was 468 million yuan, up 22.8% year on year and down 9.6% month on month. Sales in the heavy truck industry declined slightly year-on-year in the third quarter, and the company's growth rate was better than the industry average. The release of new energy heavy trucks accelerated, and the share of overseas markets further increased in the third quarter. The company has stabilized its leading position in exports in the industry. With Sinotruk International, export sales accounted for more than half of total sales. The export share in the third quarter increased further compared to the first half of the year. In the future, it will continue to promote localization and customization strategies, fully grasp overseas growth opportunities, and create long-term growth points. EPS is predicted to be 1.73, 2.04, and 2.34 yuan respectively in 2026-2028, which is 15 times the company's average PE valuation in 26 years, and the corresponding target price is 25.95 yuan, maintaining the “buy” rating.

Orient Securities Research Report pointed out that Sinotruk's gross margin improved month-on-month, and the share of heavy truck exports increased further. Net profit to mother for the first three quarters was $1,441 million, up 37.2% year on year; net profit for the third quarter was 468 million yuan, up 22.8% year on year and down 9.6% month on month. Sales in the heavy truck industry declined slightly year-on-year in the third quarter, and the company's growth rate was better than the industry average. The release of new energy heavy trucks accelerated, and the share of overseas markets further increased in the third quarter. The company has stabilized its leading position in exports in the industry. With Sinotruk International, export sales accounted for more than half of total sales. The export share in the third quarter increased further compared to the first half of the year. In the future, it will continue to promote localization and customization strategies, fully grasp overseas growth opportunities, and create long-term growth points. EPS is predicted to be 1.73, 2.04, and 2.34 yuan respectively in 2026-2028, which is 15 times the company's average PE valuation in 26 years, and the corresponding target price is 25.95 yuan, maintaining the “buy” rating.