Sinotruk (Hong Kong) Limited is a

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

truck A truck or lorry is a motor vehicle designed to transport cargo, carry specialized payloads, or perform other utilitarian work. Trucks vary greatly in size, power, and configuration, but the vast majority feature body-on-frame construction ...

manufacturer incorporated in 2007. The subsidiaries of Sinotruk (Hong Kong) manufactures trucks in

Mainland China "Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater China. ...

. Its parent company,

China National Heavy Duty Truck Group China National Heavy Duty Truck Group Co., Ltd., CNHTC or Sinotruk Group is a Chinese state-owned truck manufacturer headquartered in Jinan, Shandong province. It is currently the third largest truck manufacturer in Mainland China. It is known fo ...

( Sinotruk Group or CNHTC), is a Chinese state-owned heavy

truck manufacturer A truck or lorry is a motor vehicle designed to transport cargo, carry specialized payloads, or perform other utilitarian work. Trucks vary greatly in size, power, and configuration, but the vast majority feature body-on-frame construction ...

, headquartered in

Jinan Jinan (), Postal Map Romanization, alternately romanization of Chinese, romanized as Tsinan, is the Capital (political), capital of Shandong province in East China, Eastern China. With a population of 9.2 million, it is the second-largest city i ...

, Shandong Province.

History

Sinotruk (Hong Kong) Limited was incorporated on 31 January 2007 in Hong Kong, a

special administrative region of China The special administrative regions (SAR) of the People's Republic of China are one of the provincial-level administrative divisions of the People's Republic of China directly under the control of its Central People's Government (State Co ...

, as an intermediate holding company for the Chinese Government owned

(, Sinotruk Group). Since 2 April, Sinotruk (Hong Kong) Limited owned the following subsidiaries:

Sinotruk Jinan Truck Sinotruk may refer to: *China National Heavy Duty Truck Group: or Sinotruk Group, a state-owned truck manufacturing enterprise in China *Sinotruk (Hong Kong) Sinotruk (Hong Kong) Limited is a Hong Kong truck manufacturer incorporated in 2007. The ...

, Sinotruk Jinan Commercial Truck, Sinotruk Jinan Power, Sinotruk Jinan Technical Center, Sinotruk Factory Design Institute, Sinotruk Shandong Import & Export Company, Sinotruk Jinan Ganghua Import & Export Company, Sinotruk Hong Kong International Investment Company and Sinotruk Finance. Sinotruk Jinan Truck itself, is a listed company in the

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

as SZSE:000951. The subsidiaries were acquired from Sinotruk ( BVI) Limited and in turn acquired from Sinotruk Group. Sinotruk (Hong Kong) Limited was listed in the

Stock Exchange of Hong Kong The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repo ...

on 28 November 2007. As of 2007, Sinotruk (Hong Kong) and its parent company Sinotruk Group, were jointly the largest heavy truck manufacturer in the Mainland China. At that time, 90% of the sale volume of Sinotruk Group, came from Sinotruk (Hong Kong) and Sinotruk (Hong Kong)'s subsidiaries. Sinotruk Group retained some of the assets unlisted. Since 10 March 2008, Sinotruk (Hong Kong) became a constituent of

Hang Seng China-Affiliated Corporations Index Hang Seng China-Affiliated Corporations Index or HSCCI is a stock index of the Stock Exchange of Hong Kong for red chip companies listed on the exchange, which are incorporated outside of mainland China, such as in Bermuda, the Cayman Islands, ...

, a stock market index for

red chip Red chip stocks () are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. It refers to businesses based in mainland China and with (majority) shares controlled either directly or indirectly by a ...

companies. The stock was removed from the index on 4 June 2012 and re-instated on 7 September 2020.

Business

Un camion de transport de sable à calavi

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 Fuel efficiency is a form of thermal efficiency, meaning the ratio of effort to result of a process that converts chemical potential energy contained in a carrier ( fuel) into kinetic energy or work. Overall fuel efficiency may vary per device, ...

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 North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korea, Korean Peninsula and shares borders with China and Russia to the north, at the Yalu River, Y ...

which were converted to

military A military, also known collectively as armed forces, is a heavily armed, highly organized force primarily intended for warfare. It is typically authorized and maintained by a sovereign state, with its members identifiable by their distinct ...

use. Sinotruk denied any wrongdoing in the transaction.

Ownership

In 2009, the German truck maker

MAN A man is an adult male human. Prior to adulthood, a male human is referred to as a boy (a male child or adolescent). Like most other male mammals, a man's genome usually inherits an X chromosome from the mother and a Y chromos ...

bought a 25% + 1 share stake in Sinotruk (Hong Kong).

References

External links

* {{authority control Traton Companies listed on the Hong Kong Stock Exchange Holding companies of Hong Kong Manufacturing companies established in 2007 Holding companies established in 2007 2007 establishments in Hong Kong Truck manufacturers of China Government-owned companies of China Companies based in Jinan