Sinotruk: the group, its brands and who controls it
Facts checked
- State-owned (provincial)
- HKEX 3808
- SZSE 000951
Sinotruk is the trading name of China National Heavy Duty Truck Group, a Jinan company whose works built the first Chinese-designed heavy truck, the Huanghe (Yellow River) JN150, in 1960. Its lineage is traced back to a Jinan vehicle works founded in 1935; the group in its present form dates from a restructuring in 2001, and it licensed Austrian Steyr truck technology from 1984. It sells through two listed subsidiaries: Sinotruk (Hong Kong) Limited, which holds the main truck business, and Sinotruk Jinan Truck Co in Shenzhen.
Ownership sits with the Shandong state. Jinan's state-asset commission held 80% of CNHTC until 45% was transferred to the provincial group Shandong Heavy Industry in 2019 for no payment, with voting rights over a further 20% delegated at the same time; Jinan keeps 35%. Shandong Heavy Industry also controls Weichai Power, which is why the two are often described together, although we found no direct shareholding by Weichai Power in Sinotruk. MAN SE of Germany has held 25% plus one share of the Hong Kong company since 2009.
The product line is heavy trucks under the Sitrak, HOWO and Huanghe names, plus light trucks, pickups and buses through subsidiaries. In 2025 the group sold 292,140 heavy trucks and 123,136 light trucks, and it says its vehicles have gone to more than 150 countries. Exports are more than half of heavy-truck volume, concentrated in Africa, Southeast Asia, the Middle East, Central Asia and Latin America.
Key facts
| Chinese name | 中国重汽 “JONG-gwaw JONG-chee” short for 中国重型汽车集团, 'China Heavy-Duty Vehicle Group' |
|---|---|
| Legal name | China National Heavy Duty Truck Group Co., Ltd. (CNHTC) |
| Ownership | State-owned (provincial) |
| Founded | 1935 |
| Headquarters | Jinan, Shandong, China |
| Vehicles | Commercial vehicles and Components |
| Listings | HKEX 3808 and SZSE 000951 |
| 2025 heavy-truck sales | 292,140 units, up 20.0% on 2024 |
| 2025 heavy-truck exports | 153,368 units, up 14.4% |
| 2025 light-truck sales | 123,136 units |
| 2025 revenue | RMB109,541 million |
| 2025 profit attributable to shareholders | RMB7,019 million, up 19.8% |
| Employees | 28,614 as at 31 December 2025 |
| Export reach | Products exported to more than 150 countries and regions |
| State control | Shandong Heavy Industry holds 45% of CNHTC and votes a further 20%; Jinan's state-asset commission holds 35% |
Ownership tree
Who controls Sinotruk?
Shandong Provincial SASAC controls Shandong Heavy Industry Group.
Shandong Heavy Industry Group is a provincial state enterprise supervised by the Shandong state-asset commission. We did not find a published percentage.
Shandong Heavy Industry Group owns Sinotruk at 45% since October 2019.
Jinan's state-asset commission transferred 45% of China National Heavy Duty Truck Group to Shandong Heavy Industry Group for nil consideration, and Shandong State-owned Assets Investment delegated the voting rights on a further 20%, giving Shandong Heavy Industry 65% of the votes and control.
| Holder | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| Jinan Municipal SASAC | holds a stake in | 35% | October 2019 | Jinan's state-asset commission held 80% of CNHTC before the transfer and retains 35% after it. |
| MAN SE | holds a stake in | 25% | July 2009 | MAN SE took 25% plus one share of Sinotruk (Hong Kong) Limited for EUR560 million through a capital increase in July 2009, together with a technology licence that underpins the Sitrak range. We found no report that the holding has been sold; treat the current percentage as reported rather than confirmed for 2026. |
Brands
| Brand | Held | Origin | Founded | Models | Markets |
|---|---|---|---|---|---|
| 中国重汽Sinotruk | directly | China | 1960 | 0 | 6 |
Joint ventures
| Venture | Partner | Since | Note |
|---|---|---|---|
| MAN SE strategic partnership and shareholding | MAN SE | July 2009 | MAN SE took 25% plus one share of the Hong Kong listed arm for EUR560m in 2009 and licensed truck technology that underpins the Sitrak range. In September 2018 MAN's parent TRATON said the two would set up a joint venture to build an MAN heavy truck in China. We found no report that either the shareholding or the partnership has ended. |
Sinotruk: questions people ask
- Who owns Sinotruk?
- The parent is China National Heavy Duty Truck Group, controlled by the Shandong state: the provincial group Shandong Heavy Industry holds 45% and votes another 20%, and Jinan's state-asset commission holds 35%. Germany's MAN SE separately holds 25% plus one share of the Hong Kong listed arm.
- Is Sinotruk state-owned?
- Yes. Its parent is a state enterprise held by Shandong provincial and Jinan municipal state bodies, although the Hong Kong and Shenzhen listed subsidiaries also have public shareholders.
- What is the difference between HOWO and Sitrak?
- Both are Sinotruk truck brands. HOWO is the long-running mainstream heavy truck line; Sitrak is the premium range developed with MAN technology after the 2009 partnership.
- Are Sinotruk trucks sold in the United States?
- No. Sinotruk sells trucks in more than 150 countries but has no US sales operation; its main export markets are in Africa, Asia, Central Asia and Latin America.
Related
Sources for Sinotruk
- Sinotruk (Hong Kong) Limited, Announcement of Annual Results for the Year Ended 31 December 2025. Read . Primary source for 2025 volumes, revenue, profit, employees and export reach.
- China National Heavy Duty Truck Group, Sinotruk corporate site. Read . Brand list and the 1960 Huanghe JN150 claim.
- CMB International Capital, Sinotruk (Hong Kong) (3808 HK) - SHIG to officially control Sinotruk after the equity transfer. Read . Details of the 45% transfer and the delegated 20% of voting rights.
- Wikipedia, China National Heavy Duty Truck Group. Read . Company history and the October 2019 completion date of the Shandong Heavy Industry transfer.
- Volkswagen Group, TRATON and Chinese Sinotruk significantly expand strategic partnership. Read . 18 September 2018; confirms MAN's 25%-plus-one-share holding since 2009.