The Zhitong Finance App learned that Citi released a research report stating that it gave Sinotruk (03808) a “buy” rating to adjust the company's net profit forecast for 2023 to 2025. Among them, last year's forecast was lowered by 1%, and the current and next two years were raised by 1.8% and 14.5% respectively, and the target price was lowered from HK$19.1 to HK$18.

The company issued a profit increase of 200% to 240% last year. Citigroup said Yingxi was roughly in line with expectations, reflecting a 92% to 218% year-on-year increase in net profit in the second half of last year to 986 million yuan to 1,635 million yuan. Strong performance was mainly driven by heavy truck shipments, and profit margins also improved steadily.