中国重汽午后涨超4% 全年国内重卡销量或破百万 后续景气度有望再超预期

Core Viewpoint - China National Heavy Duty Truck Group (China National Heavy Truck) shares rose over 4%, indicating positive market sentiment driven by strong sales data and favorable industry outlook [1] Company Summary - As of the latest report, China National Heavy Truck's stock price increased by 4.36%, reaching HKD 28.24, with a trading volume of HKD 67.15 million [1] - The company is positioned to benefit from a robust domestic heavy truck market, with significant sales growth anticipated [1] Industry Summary - In October 2025, approximately 93,000 heavy trucks were sold in China, representing a month-on-month decline of about 12% but a year-on-year increase of approximately 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 expectations for annual sales to exceed one million, potentially reaching 1.1 million units [1] - CITIC Securities highlighted a stable outlook for domestic heavy truck sales and continued export growth, emphasizing the importance of ongoing domestic subsidies and the performance of leading companies [1] - The industry is expected to benefit from the release of replacement demand in 2026 and sustained export growth, which could support high-level stability in overall industry volume [1] - The continuation of subsidy policies and macroeconomic measures to boost domestic demand are critical factors to monitor for potential industry upside [1]