China National Heavy Duty Truck has good growth
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Huahui Securities Research Institute Liu Hui said that China National Heavy Duty Truck (16.75,1.52,9.98%) (000951) has a good growth, and the company’s earnings per share in 2006 and 2007 are expected to be 0.78 yuan and 1.21 yuan respectively. As the leading company in the industry, the company's current dynamic price-earnings ratio in 2007 is lower than the average value of comparable companies in the industry, and there is a certain degree of underestimation. Considering that the heavy-duty truck industry has good growth prospects, and the company has strong competitive advantages and leading position, it gives the company a "recommended" investment rating.
Liu Hui pointed out that from January to September 2006, the sales volume of the heavy truck industry increased by 19.77% year-on-year, and the heavy-duty truck industry was at a low point, showing signs of recovery. With the continued promotion of weight-based charging policies and the continuous integration of transportation markets, heavy trucks, as a typical cyclical industry, are currently at the best investment opportunity.
Liu Hui said that thanks to its advantages in high-horsepower and large-tonnage models, the company's sales volume has increased by 48.20% year-on-year since 2006. The continuous expansion of market share has led to a significant change in its market position: 20% of the market share is not far behind that of FAW and Dongfeng. The company has entered the first echelon of the heavy truck industry and its industry leading position has been further consolidated.
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