Core Viewpoint - The recent stock price surge of Boreton (01333) is attributed to strategic positioning around the H-share full circulation policy, which has injected strong momentum into the company's stock price [1][3][14]. Company Performance - Boreton's stock price increased by approximately 8.55% to HKD 29.96, with a trading volume of about 686,000 shares and a turnover of approximately HKD 20.07 million as of August 11 [1]. - The company has experienced a compound annual growth rate (CAGR) of 32.8% in revenue from 2022 to 2024, with revenues of RMB 360.1 million, RMB 464.7 million, and RMB 635.5 million for the respective years [11][13]. - The electric wide-body dump truck has become the primary revenue source, contributing 57.4% of total revenue in 2024, with revenues of RMB 3.65 million [12]. Market Position - Boreton ranks third among all new energy wide-body dump truck manufacturers and seventh among electric loader manufacturers in China, with market shares of 18.3% and 3.8% respectively [11][14]. - The company is the only pure new energy engineering machinery manufacturer among the leading players in these categories [11]. Financial Metrics - The gross profit margin for electric wide-body dump trucks has shown stability, with rates of 13.8%, 12.4%, and 13.5% over the past three years [12]. - However, Boreton's cost control is less effective compared to industry leaders, with an expense ratio of 39.5% projected for 2024, significantly higher than the industry benchmark of around 15% [14]. Trading Strategy - The trading pattern observed for Boreton follows a "buying - raising - distributing" strategy, with a significant increase in trading volume and price movement indicating strategic accumulation by institutional investors [4][8][10]. - The stock's trading volume on August 11 reached 686,000 shares, nearly 13 times the average volume from August 4 to August 8, confirming the effectiveness of the "volume-price" strategy [8][10].
从8.55%涨幅看博雷顿：量价齐飞背后或透露完美“三部曲”