Changes in Hong Kong stocks | Yituo Shares (00038) rose by more than 11% in early trading, the company is expected to benefit from agricultural modernization and transformation, and the export business will become a new growth point

The Zhitong Finance App learned that Yituo Shares (00038) rose by more than 11% in early trading. As of press release, it had risen 11.39% to HK$8.02, with a turnover of HK$72.262,900.

Goldman Sachs released a research report saying that Yituo Co., Ltd. is the largest agricultural tractor manufacturer in China. In the context of China's transformation to agricultural modernization to achieve food security, the company is in an advantageous position to seize structural growth opportunities brought about by large-scale and high-end tractors. In the long run, the export business is expected to become another pillar of the company's growth. As Yituo shares continue to improve its global competitiveness, exports are expected to become a new driving force for long-term growth. The bank believes that these structural changes will push the profit margin and return conditions of Yituo shares gradually closer to global peers, and bring opportunities for upward revaluation of the stock's undervaluation.