Sinotruk eyes RMB 66 bln in sales revenue this year

Sinotruk (Hong Kong) Ltd<3808>, the Hong Kong-listed arm of China's largest heavy truck manufacturer, China National Heavy Duty Truck Group, aims to realize RMB 66 billion in sales revenue this year, said Ma Chunji, president of the company.

Ma said that the company expects to sell between 140,000 and 150,000 vehicles this year and added the company will focus on commercial vehicles.

Last week, Ma disclosed that Sinotruk would report a better-than-expected net profit for 2009, as the strong sales and a recovering commercial vehicle market helped the company maintain stable profit growth.

In July 2009, Sinotruk and German vehicle firm MAN SE agreed to a long-term strategic partnership involving capital investment and technology licenses. MAN agreed to buy a 25%-plus-one-share stake in the Chinese company for EUR 560 million.