China National Heavy Duty Truck Group, also known as Sinotruk, saw rapid growth in revenue and sales from January to October of this year, according to a report at the company's business conference on Nov 20.

During this period, the group sold a total of 374,000 vehicles, a year-on-year increase of 60 percent, including 227,000 heavy trucks and 147,000 medium and light-duty trucks.

In the first 10 months, Sinotruk received 140.7 billion yuan ($21.38 billion) in operating revenue, up 54 percent year on year.

Officials said that the company's major economic indicators in the first three quarters of this year have already exceeded the 2019 annual figures.

From January to October, Sinotruk's market share increased by 3.9 percent year on year, putting it at third in the industry. Tractor sales increased by 160 percent year-on-year, 110 percentage points higher than the industry average.

The company exported 26,000 vehicles, maintaining a 50-percent industry share in Chinese auto exports.

On Sept 16, Sinotruk launched its new-generation high-end logistics traction heavy truck, known as "Yellow River". It leads China in terms of advanced technology and driving assistance functions.

The vehicle is equipped with automatic acceleration, braking, and steering, allowing drivers to better deal with traffic congestion and avoid rear-end collisions.

Cai Dong, general-manager of Sinotruk, put forward next year's plan at the conference. The company will continue to strengthen the competitiveness of its products, build a high-level marketing system, and improve after-sales services.