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First Tractor Co ( (HK:0038) ) has issued an update.
First Tractor Co. announced that Beiqiyuan, a wholly owned subsidiary of Sinomach-controlled CAMCE and an associate of Sinomach Group, has won a public tender from YTO Diesel Engine, a controlled subsidiary of First Tractor, for an industrialisation project involving non-road National V diesel engines. Under an industrial products sale and purchase contract signed on 3 February 2026, Beiqiyuan will provide construction services for a vertical warehouse for cylinder blocks and heads, automated storage for spare parts, and Automated Guided Vehicle (AGV) transport systems for machining lines, for a total consideration of RMB23 million. As the parties are all under the Sinomach umbrella, the deal is classified as a connected transaction under Hong Kong listing rules, triggering reporting and announcement obligations but exempting it from independent shareholders’ approval due to its size; the investment is expected to support First Tractor’s automation and efficiency in diesel engine production while formalising intra-group cooperation within regulatory limits.
The most recent analyst rating on (HK:0038) stock is a Buy with a HK$14.00 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., through its controlled subsidiary YTO Diesel Engine, operates in the agricultural and industrial machinery sector, focusing on the development and production of diesel engines and related components. The group sits within the wider Sinomach Group structure, with YTO as its controlling shareholder and Sinomach as its de facto controller, giving it strong backing in China’s state-linked industrial equipment ecosystem.
Average Trading Volume: 3,596,750
Technical Sentiment Signal: Buy
Current Market Cap: HK$15.93B
Find detailed analytics on 0038 stock on TipRanks’ Stock Analysis page.