First Tractor Raises R&D Transaction Cap to Accelerate High-End Farm Machinery Push

First Tractor Co ( (HK:0038) ) has shared an update.

First Tractor Co. plans to raise the 2026 annual cap on transactions under its research and development services agreement with controlling shareholder YTO, aiming to speed up development and launch of high-end agricultural machinery such as power shift and continuously variable transmission tractors. The move is intended to strengthen the company’s competitiveness and positioning in the premium, intelligent and environmentally focused farm equipment segment, and while the revised cap triggers reporting and review requirements under Hong Kong listing rules, it remains exempt from independent shareholder approval.

The most recent analyst rating on (HK:0038) stock is a Buy with a HK$13.00 price target. To see the full list of analyst forecasts on First Tractor Co stock, see the HK:0038 Stock Forecast page.

More about First Tractor Co

First Tractor Co. is a Chinese manufacturer of agricultural machinery, focusing on high-end equipment such as tractors and related powertrain systems. The company targets the growing demand for larger-scale, intelligent and green farming solutions, and counts YTO, which holds about 48.81% of its shares, as its controlling shareholder.

Average Trading Volume: 4,231,313

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$14.36B

For detailed information about 0038 stock, go to TipRanks’ Stock Analysis page.