HK Stock Market Move | First Tractor (00038) rose by over 9% again, with a cumulative increase of over 20% in the past three days. There is still significant room for further improvement in the proportion of overseas income.

First Tractor (00038) rose by over 9%, with a cumulative increase of over 20% in the last three trading days. As of the time of writing, it rose by 7.8% to 8.71 Hong Kong dollars, with a trading volume of 48.1488 million Hong Kong dollars. Goldman Sachs released a research report stating that against the backdrop of China's transformation towards agricultural modernization to achieve food security, First Tractor is in a favorable position to capture the structural growth opportunities brought about by the upgrading of tractors towards larger and higher-end models. In the long term, the export business is expected to become another major pillar of the company's growth, as First Tractor continues to improve its global competitiveness, with exports expected to become a new long-term growth driver. Soochow previously released a research report stating that overseas tractor sales will reach 5,445 units in the first half of 2025, a year-on-year increase of 29%. The performances in the African and Central Eastern European markets were outstanding, with sales increasing by over 50% year-on-year. The overseas agricultural machinery market is vast, with the company's overseas revenue in the first half of 2025 accounting for only 9.5% of total revenue, indicating a significant room for improvement compared to the industry average of 50% for overseas revenue in the construction machinery industry.