Foton Cummins Engine Sales Increased Significantly

The research report of Foton Motor released on March 18, 2013 stated that the company released the sales data for February 2013: February sales of 37,000 vehicles, a year-on-year decrease of 42.6%; engine sales of 15,000 vehicles, an increase of 16.9% year-on-year, basically in line with expectations .

It is estimated that the company's 2012 and 2013 EPS will be 0.49 and 0.55 yuan, the corresponding PE is 15, 13 times, and the PB is 1.3 and 1.2 times. It maintains the "strongly recommended" rating.

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