Sinotruk (Hong Kong)

Last updated

Sinotruk (Hong Kong) Limited
Company type Public
SEHK:  3808
ISIN HK3808041546
IndustryManufacturing
Founded31 January 2007;18 years ago (2007-01-31)
Founder Sinotruk Group
Headquarters
Area served
Worldwide
Key people
Cai Dong (chairman and president)
ProductsTrucks
Owner
Parent
Subsidiaries Sinotruk Jinan Truck (63.78%)
Chinese name
Traditional Chinese 中國重汽(香港)有限公司
Simplified Chinese 中国重汽(香港)有限公司
Transcriptions
Standard Mandarin
Hanyu Pinyin Zhōngguó zhòngqì (xiānggǎng) yǒuxiàn gōngsī
Yue: Cantonese
Jyutping zung1 gwok3 cung4 hei3 (hoeng1 gong2) jau5 haan6 gung1 si1
Howo truck in Benin (2020) Un camion de transport de sable a calavi.jpg
Howo truck in Benin (2020)

Sinotruk manufactures cargo trucks and semi-tractor trucks that are used in a range of industries including construction, container transportation, mining and steel production (Howo and Sitrak).

The company and its state-owned parent sold around 125,000 heavy duty trucks in 2009 and accounted for about 20.1 per cent of China's heavy duty truck market. Sinotruk's overseas sales, mostly to developing markets such as countries of the former Soviet Union and Middle East states, accounted for about 19 per cent (FY2007) both in terms of units sold and revenue.

Fuel-efficient trucks currently account for about 80 per cent of the company's production.

Controversies

From 2010 to 2014, Sinotruk exported civilian trucks to North Korea which were converted to military use. Sinotruk denied any wrongdoing in the transaction. [6]

Ownership

In 2009, the German truck maker MAN bought a 25% + 1 share stake in Sinotruk (Hong Kong). [7]

References

  1. 1 2 3 "History, Reorganization and Corporate Structure" (PDF). Global Offering (Prospectus). Hong Kong: Sinotruk. 14 November 2007. pp. 79–80 via Hong Kong Exchanges and Clearing.
  2. 1 2 3 Nie, Nevin (13 November 2007). "Sinotruk shares set at costly PEs". South China Morning Post. Hong Kong. Retrieved 10 September 2019.
  3. "Relationship with the Parent Company" (PDF). Global Offering (Prospectus). Hong Kong: Sinotruk. 14 November 2007 via Hong Kong Exchanges and Clearing.
  4. "Hang Seng China-Affiliated Corporations Index (Changes Implemented Before 8 September 2008)". Hong Kong: Hang Seng Indexes Company. c. 2008. Retrieved 10 September 2019.[ dead link ]
  5. "Constituent Changes in Hang Seng China-Affiliated Corporations Index". Hong Kong: Hang Seng Indexes Company. September 2020. Retrieved 8 January 2021.[ dead link ]
  6. Liu Zhen (17 September 2017). "How North Korea evades UN sanctions". South China Morning Post. Hong Kong. Retrieved 10 September 2019.
  7. Wong, Kandy (16 July 2009). "MAN pays HK$6.05b for Sinotruk stake". South China Morning Post. Hong Kong. Retrieved 10 September 2019.