HK Stock Market Move | First Tractor (00038) surged over 10%. In the second quarter, the non-recurring net profit increased by 77.6% year-on-year, with both domestic sales and exports accelerating.

First Tractor (00038) rose by over 10%. As of the time of this report, it has increased by 10%, trading at HKD 9.35, with a transaction volume of HKD 61.7987 million. In terms of news, FIRST TRACTOR released its mid-year performance for 2026, reporting total operating revenue of RMB 7.886 billion, an increase of 13.84% year-on-year; net profit attributable to shareholders was RMB 782 million, up by 1.72% year-on-year. In the second quarter alone, the company achieved revenue of RMB 3.22 billion, a year-on-year growth of 35.7%; the net profit attributable to shareholders was RMB 220 million, a decrease of 8.2% year-on-year; the net profit excluding non-recurring items was RMB 290 million, an increase of 77.6% year-on-year. Sinolink noted that the revenue and net profit excluding non-recurring items growth exceeded expectations, while the net profit attributable to shareholders was significantly impacted by one-time fair value change losses. In the domestic market, First Tractor's core product sales growth outpaced the industry average. Tractor sales reached 50,100 units, an increase of 17.05% year-on-year; diesel engine sales were 112,600 units, a substantial increase of 47.79% year-on-year. The overseas business experienced rapid development, with export sales of 8,006 units in the first half of the year, representing a year-on-year growth of 47%. Significant growth was seen in key markets in the Americas and Asia, with the proportion of exports of large and medium tractors continuing to rise.