中国重汽涨超4% 股价创历史新高 花旗此前上调公司净利润预测

Core Viewpoint - China National Heavy Duty Truck Group (China National Heavy Duty Truck) shares rose over 4%, reaching a new high of 34.16 HKD, driven by strong fundamentals and positive market outlook [1] Company Summary - Citigroup recently upgraded its dividend forecasts for China National Heavy Duty Truck for the fiscal years 2025 to 2027 to 60%, 70%, and 70% respectively, and increased net profit forecasts by 1% to 2%, reaching 7.1 billion, 8.3 billion, and 9.1 billion RMB [1] - Citigroup raised the target price for China National Heavy Duty Truck from 26.4 HKD to 39.4 HKD while maintaining a "Buy" rating [1] Industry Summary - In December 2025, China's truck market sold a total of 361,000 units, representing a month-on-month increase of 7% and a year-on-year increase of 17% [1] - Heavy-duty truck sales in December reached 102,700 units, showing a month-on-month decline of 9% but a year-on-year increase of 22% [1] - Guotai Junan Securities believes that the domestic logistics environment remains stable, and despite a high replacement base from 2017 to 2021, the decline in heavy truck sales is expected to be limited [1] - Overall wholesale sales are projected to reach 1.16 million units in 2026, reflecting a year-on-year growth of 1.5%, with exports expected to maintain growth [1]