Core Viewpoint - China National Heavy Duty Truck Group (China National Heavy Truck) shares rose over 4%, indicating positive market sentiment towards the company amid strong sales forecasts in the heavy truck sector [1] Industry Summary - In October 2025, approximately 93,000 heavy trucks were sold in China, representing a month-on-month decrease of about 12% from September 2025, but a significant year-on-year increase of around 40% compared to 66,400 units sold in the same month last year [1] - Cumulative sales for the first ten months reached 916,000 units, with annual sales expected to exceed one million, potentially reaching 1.1 million units [1] - CITIC Construction Investment released a report highlighting a stable domestic demand outlook and continuous export growth for heavy trucks, emphasizing the importance of ongoing domestic subsidies and the potential for leading companies to exceed performance expectations [1] - The report also noted that the release of replacement demand in 2026 and sustained export growth could support a high and stable industry total [1] - If subsidy policies continue, the industry's prosperity may exceed expectations, with recommendations to monitor domestic subsidy policy continuity, macroeconomic demand expansion policies, and the sustainability of export growth [1]