20230831-东吴证券-中国重汽-03808.HK-2023半年报点评_出口业务快速突破向上_H1业绩表现靓丽_3页_440kb

China Heavy Truck Co. (Hong Kong Stock Code: 03808) delivered an impressive H1 2023 performance with significant export breakthroughs. Key highlights include a 368% revenue growth year-over-year, driven primarily by a 384% increase in heavy truck sales, where exports surged by 845%, contributing to a H1 net profit margin improvement of 325%. The company's financial metrics showed better cost control and higher net interest rates, supporting its projected sustained growth, with updated earnings forecasts for 2023-2025 maintaining a "Buy" recommendation amid risks like economic volatility.