GLONGHUI, Feb. 26 | Jefferies released a report saying that Sinotruk, as the mainland's largest heavy truck (HDT) exporter, is embracing an upward cycle and is the biggest direct beneficiary of strong export sales in the mainland, and the increase in liquefied natural gas (LNG) heavy truck sales will further improve its product portfolio. Furthermore, according to the target of the employee stock ownership plan, profit margins before tax for each year from 2024 to 2026 were 7.5%, 8%, and 8.5%, respectively, reflecting a stable profit margin outlook. The bank raised its target price from HK$20.6 to HK$25, which is equivalent to predicting a price-earnings ratio of 9 times this year, with a “buy” rating. Profit forecasts for last year and this year were raised to 5.2 billion yuan and 6.9 billion yuan respectively, reflecting more optimistic sales and profit margin prospects.