For the reasons for the substantial growth in performance, the company summarized as internal and external factors. From the external point of view, the macroeconomic operation is generally good, logistics heavy truck demand rebound and other factors to promote, superimposed on the strong momentum of exports to maintain the recovery of the heavy truck industry situation is obvious. Internally, the company continued to improve product quality and product competitiveness, accelerate product optimization and upgrading and structural adjustment, and accurately implement marketing strategies.

　　Under the above internal and external factors, China National Heavy Duty Truck (CNHTC) has realized the growth of production and sales volume and the double improvement of profitability. Meanwhile, the market data of China National Heavy Duty Truck Group (CNHTC) in the first three quarters can also be seen. According to the data of China Association of Automobile Manufacturers (CAAM), in the first three quarters of 2023, China National Heavy Duty Truck Group realized sales of 191,400 heavy trucks, up 52.3% year-on-year, and its market share continued to top the industry.

　　From the industry trend, in recent years, the overseas market has become an important force driving the overall upward trend of China's heavy truck industry. With its supply chain, cost-effective and other advantages, the independent brand has successfully opened the market of many economies around the world, and sales have picked up. According to the General Administration of Customs data, in 2020, 2021 and 2022, China's heavy truck exports were 78,700, 141,400 and 191,400 respectively. 2023 January-August, China's cumulative export of heavy truck exports has been higher than the whole year of 2022, realizing sales of 216,000 units, an increase of 83%.

　　GF Securities optimistic about China National Heavy Duty Truck and other companies in the export of bright performance, in the research report to give a “buy” rating, that since 2023, the truck industry continues to recover, sales volume stability exceeded expectations, the industry's total inventory is healthy and continue to melt, exports are rising steadily, leading companies are expected to release a greater performance elasticity.