Gelonghui, September 13 | Agricultural Machinery Leading Company First Tractor Co., Ltd. (0038.HK) rose more than 8%, rising 13% on the 2nd to recover from a recent decline of HK$7.83, with a total market value of HK$8.8 billion. According to the news, three departments including the General Office of the Ministry of Agriculture and Rural Affairs recently issued the “Supplementary Notice on Intensifying Efforts to Continue to Implement the Agricultural Machinery Scrap Renewal Subsidy Policy”, which will expand the scope of scrapping subsidies. Zhongyuan Securities pointed out that the launch of the large-scale equipment renewal and consumption trade-in action plan is expected to drive the stock of old agricultural machinery to speed up scrapping and replacement, and promote the growth in demand in the tractor market. As a leader in the tractor industry, Yituo Co., Ltd. is expected to fully benefit from the trend of large-scale equipment renewal of agricultural machinery.