#China #Hong Kong #Global Expansion #SANY Heavy Industry #Hong Kong Stock Exchange

SANY Heavy Industry's Historic Listing on Hong Kong Stock Exchange

On October 28, 2025, SANY Heavy Industry (stock code: 6031.HK) officially debuted on the main board of the Hong Kong Stock Exchange (HKEX), marking a pivotal moment in its global expansion journey. This dual listing, alongside its earlier entry on the Shanghai Stock Exchange in 2003 (stock code: 600031.SH), is seen as a foundation for future growth in international markets.

Impressive IPO Performance

The company successfully issued approximately 632 million H-shares, including a 15% over-allotment option, at an issue price of 21.30 HKD per share. The initial public offering (IPO) attracted significant interest from major investors, with a total subscription amounting to $759 million. Prominent institutional players like Temasek, BlackRock, Hillhouse, and UBS Asset Management have shown strong confidence in SANY's prospects, as evidenced by their investments.

The trading inauguration saw key government officials, business partners, financial institutions, and SANY's leadership present at the event. Xiang Wenbo, the rotating chairman of SANY Group and SANY Heavy Industry, along with Yu Hongfu, a board member and president of SANY Heavy Industry, symbolically struck the gong, officially commencing trading.

Strong Market Confidence

Xiang Wenbo noted that this strategic move reflects the robust market confidence in SANY's sustainable development. He emphasized that the listing would broaden the company's financial horizons internationally. Leveraging Hong Kong's status as a global capital nexus, SANY aims to create sustainable value and contribute to a greener future through its globalization, digitalization, and decarbonization strategies.

Industry Leadership

According to Frost & Sullivan, SANY has emerged as the third-largest construction machinery manufacturer globally from 2020 to 2024 based on cumulative sales revenue in its key segment. It also holds the title of being the largest such manufacturer in China. The company's foreign sales revenues experienced a compound annual growth rate of 15.2%, reinforcing its position as a highly globalized entity in the industry.

In alignment with its digital strategy, SANY has pioneered intelligent manufacturing, achieving recognition as a 'Lighthouse Factory' by the World Economic Forum (WEF). Moreover, it is accelerating its transition to a low-carbon enterprise, introducing over 40 new energy products in 2024, generating revenues exceeding $567 million.

The listing on the Hong Kong Stock Exchange marks a new chapter in SANY Heavy Industry's history. With its core strategies in focus, the company intends to harness Hong Kong's international financial hub status to strengthen its connection with global capital markets and embark on a new phase of globalization.

Conclusion

The entry of SANY Heavy Industry into the Hong Kong market reflects a significant step in its expansion vision. With a strategy that combines innovation in manufacturing and a commitment to sustainability, SANY is poised to strengthen its presence on the global stage, fostering growth that aligns with modern demands for corporate responsibility and ecological integrity.