#China #Hong Kong #SANY Heavy Industry #Hong Kong Stock Exchange #Dual Listing

SANY Heavy Industry Celebrates Groundbreaking Listing on Hong Kong Stock Exchange

On October 28, 2025, SANY Heavy Industry (stock code: 6031.HK) marked a significant milestone by officially listing on the Hong Kong Stock Exchange (HKEX). This momentous event not only celebrates the company's evolution but also solidifies its global expansion strategy with the introduction of its dual listing—often referred to as an “A+H” listing, which signifies its presence in both A-shares and H-shares.

The company first debuted on the Shanghai Stock Exchange in 2003 with the stock code 600031.SH, and this recent move to list in Hong Kong is seen as an important step in establishing a stronger international market presence. SANY’s successful IPO involved the issuance of approximately 632 million H-shares at a price of HK$21.30 per share, which attracted substantial investment, totaling over US$759 million from notable investors such as Temasek, BlackRock, Hillhouse, and UBS Asset Management. This enthusiastic market response underscores a robust confidence in SANY's growth trajectory.

At the listing ceremony held at the HKEX, prominent officials, business partners, and top executives from SANY were in attendance. Xiang Wenbo, the rotating chairman of SANY Group and president of SANY Heavy Industry, expressed pride in the company's achievements, highlighting the positive sentiment in capital markets regarding SANY’s high-quality development. He stated, “This listing reflects strong market confidence in SANY's growth and offers a historic opportunity to expand our international financing channels. By leveraging Hong Kong’s position as a global capital 'super connector', SANY aims to continue creating sustainable value while contributing to a greener world through our strategies of globalization, digitalization, and decarbonization.”

SANY Heavy Industry’s commitment to innovation and global expansion has been underpinned by its aggressive strategy in digital transformation. According to Frost & Sullivan’s analysis based on accumulated basic construction machinery revenue between 2020 and 2024, SANY is ranked as the third-largest construction machinery manufacturer in the world and the largest in China. The company has also achieved a remarkable year-on-year growth of 15.2% in overseas revenues, emphasizing its significant international footprint.

In addition, SANY is leading the way in digital and intelligent manufacturing, standing out as the only company in its sector with two Lighthouse-certified factories recognized by the World Economic Forum. The company is also accelerating its transition toward a low-carbon economy, having launched over 40 new energy-efficient products in 2024, generating substantial revenues exceeding US$567 million.

The listing of SANY Heavy Industry on the Hong Kong Stock Exchange marks not just a new beginning for the company but also positions it to deepen connections with global capital markets. By capitalizing on its core strategies, SANY is set to open a new chapter in its globalization journey, continuously enhancing its operational excellence and commitment to sustainable development.