FIRST TRACTOR(SH:601038) Chan Ye Xin Xi Wang·2026-02-02 03:49Core Viewpoint - The report by Zhiyan Consulting highlights a significant decline in the production of small tractors in China, indicating a downward trend in the market for this segment from 2020 to 2025 [1] Group 1: Production Data - In December 2025, the production of small tractors in China was recorded at 10,000 units, representing a year-on-year decrease of 16.7% [1] - The cumulative production of small tractors from January to December 2025 reached 121,000 units, which is a cumulative decline of 15.4% compared to the previous year [1] Group 2: Industry Insights - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services for investment decisions [1]