Sinotruk Limited is incorporated

Incorporation (business)

Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...

 in Hong Kong

Hong Kong

Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...

 in 2004. Its parent company

Parent company

A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company...

, China National Heavy Duty Truck Group

China National Heavy Duty Truck Group

China National Heavy Duty Truck Group Company Limited , CNHTC or Sinotruk Group is a truck manufacturing state-owned enterprise headquartered in Jinan, Shandong, People's Republic of China. It is currently the third largest truck manufacturer in Mainland China...

, is the third largest heavy truck

Truck

A truck or lorry is a motor vehicle designed to transport cargo. Trucks vary greatly in size, power, and configuration, with the smallest being mechanically similar to an automobile...

 manufacturer in Mainland China

Mainland China

Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...

 located at Shandong

Shandong

' is a Province located on the eastern coast of the People's Republic of China. Shandong has played a major role in Chinese history from the beginning of Chinese civilization along the lower reaches of the Yellow River and served as a pivotal cultural and religious site for Taoism, Chinese...

.

It was listed in the Hong Kong Stock Exchange

Hong Kong Stock Exchange

The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...

 on 28 November, 2007. At the first trading day, its share price was closed at HK$10.86, which is much lower than its IPO price, HK$12.88, due to poor investment atmosphere in the sliding

Sliding

Sliding may refer to:*Sliding , also floating or gliding, a group of footwork-oriented dance techniques*Slide , an attempt by a baseball runner to avoid getting tagged out*Slide...

 stock market

Stock market

A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...

 at that time.

Since 10 March 2008, Sinotruk (Hong Kong) joined Hang Seng China-Affiliated Corporations Index Constitute Stock (red chip

Red chip

Red chips stocks are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. The actual business is based in mainland China and controlled, either directly or indirectly, by the central, provincial or municipal governments of the Peoples' Republic of China...

 stock).

Cooperations

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

Business

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

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

Fuel efficiency is a form of thermal efficiency, meaning the efficiency 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, which in turn may vary per application, and this spectrum of variance is...

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