First Red-chip Company of China’s Manufacturing Industry Sinotruk Successfully Listed in Hong Kong

At 10:00 am on November 28, Sinotruk (Hong Kong) Limited (HK3808) was listed in Hong Kong stock market.  It is said that this has been the first red-chip company of China’s manufacturing industry to be listed in Hong Kong and the biggest red-chip company to be listed in SEHK this year.

Ma Chunji, Chairman of Sinotruk Board addresses at the ceremony of listing

At the invitation, Yan Rongzhu, member of Standing Committee of CPC Shandong Committee and Secretary of CPC Jinan Municipal Committee, Tan Chengyi, Director of SASA Shandong Commission, and Sun Xiaogang, member of Standing Committee of CPC Jinan Municipal Committee and Secretary attended the ceremony for the listing.

Sinotruk president Cai Dong and rest of the management members Wang Donghui, Wang Haotao, Wei Zhihai, Wang Guangxi, Tong Jingen, Wang Shanpo, Hu Zhenghuan, Lin Zhijun, Li Xianyun and Chen Zhengxian attended the ceremony.

Representatives of CICC and J.P. Morgan, and other sponsors together 15 institutions attended the ceremony.  It is briefed that the order for the placing is hot, and the number of order is 311 times of placing.  And the capital locked-up reached 284 billion HK dollars, accounting for top 8 in Hong Kong exchange history.  The hot order situation makes high pricing for the placing with 12.88 HK dollars each share.  The funding exceeded 9 billion HK dollars which will be used for product development and equipment update.

Sinotruk Board Chairman Ma Chunji addressed at the ceremony, and he said “it is the grand day today when Sinotruk (Hong Kong) Limited is listed on Main Board of SEHK, which is an important day that marks the milestone in the development of Sinotruk.  From now on, the company’s development will turn a new page.”  On behalf of Board of Directors of Sinotruk (Hong Kong) Limited, he expressed his sincere thanks to leaders and friends of all circles who were concerned and gave support to the listing and development of Sinotruk.

Ma Chunji also said “this time as red-chip company listed on Main Board of SEHK it is the starting point for Sinotruk to go to the world capital market and it also makes wide room for Sinotruk to develop in the future.  On this new platform, Sinotruk will enhance its core competitiveness with rational operation, scientific development to quickly realize its strategic goal of becoming a domestic irreplaceable and world famous heavy truck manufacturer.”

At the ceremony, Ma Chunji presented donation of one million HK dollars for commonweal to Hong Kong charity institution.  Ma Chunji also presented Sinotruk truck models to SEHK.

Ma Chunji, Chairman of Sinotruk Board donates one million HK Dollars of commonweal fund to Hong Kong charity organization at the ceremony of listing

Ma Chunji, Chairman of Sinotruk Board presents souvenirs to SEHK at the ceremony of listing

Sinotruk (Hong Kong) Limited and its parent company – China National Heavy Duty Truck Group Corporation is the biggest heavy truck manufacturer in China.  In 1960, it made the first heavy truck of Yellow River brand and it is the earliest company to produce heavy trucks in China.  Since 2001 after its restruction, the production and sales have been fast developing.  For the past seven years, the production and sales have increased at the speed of more than 60% annually.  Last year, 60,000 heavy trucks were produced and sold; and 85,000 units were produced and sold from January to October this year and 100,000 units could be produced and sold expectedly by the end of this year, among which 16% are exported to the world market.

The success of listing of Sinotruk will largely accelerate the pace of Sinotruk to carry out its international strategy.  To be with years of efforts, Sinotruk will be among world advanced heavy truck manufacturers.  The listing will play an important role for Sinotruk to change generations of trucks, to catch up with the world advanced level in terms of commercial vehicles.