#None #Hong Kong #Global Expansion #SANY Heavy Industry #Hong Kong Stock Exchange

SANY Heavy Industry Achieves Significant Dual Listing

On October 28, 2025, SANY Heavy Industry (stock code: 6031.HK) officially began trading on the main board of the Hong Kong Stock Exchange, marking a momentous occasion in its global expansion strategy. This dual listing, known as the A+H model, follows its successful debut on the Shanghai Stock Exchange back in 2003, where it is listed as 600031.SH. The new milestone sets the stage for SANY’s continued growth and international presence.

SANY has successfully issued approximately 632 million H-shares globally, including an additional placement option of 15%, at a price of 21.30 Hong Kong dollars per share. The Initial Public Offering (IPO) garnered significant interest, attracting 21 anchor investors, and collectively raised about $759 million. Noteworthy investors include Temasek, BlackRock, Hillhouse Capital, UBS Asset Management, LMR, and Oaktree Capital, demonstrating robust market confidence in SANY’s potential.

The registration ceremony, led by government officials and SANY’s senior executives including Xiang Wenbo, the Chairman of SANY Group, and Yu Hongfu, President of SANY Heavy Industry, took place at the Hong Kong Stock Exchange. During the ceremony, Mr. Xiang remarked, “This listing reflects solid confidence from the capital market in SANY’s quality growth and signifies a historic opportunity for the expansion of our international financing channels. Leveraging Hong Kong’s role as a super bridge for global capital, SANY aims to create sustainable value and contribute to a greener world through our strategies focused on globalization, digitalization, and decarbonization.”

Global Operations and Industry Leadership

According to Frost & Sullivan, SANY ranks as the third-largest construction machinery manufacturer globally and the largest in China, based on cumulative revenue from primary construction equipment from 2020 to 2024. The company's international revenue has been growing at an impressive annual rate of 15.2%, positioning SANY as one of the most globally integrated players in the industry.

Guided by its digitalization strategy, SANY Heavy Industry stands at the forefront of digital and intelligent manufacturing. It is the only firm in its sector to possess two factories certified as Lighthouse Factories by the World Economic Forum (WEF). Additionally, SANY is expediting its low-carbon transition, with plans to launch over 40 new energy products in 2024, generating revenues exceeding $567 million.

The successful listing of SANY Heavy Industry on the Hong Kong Stock Exchange not only marks a new beginning for the company but also underscores its commitment to leveraging Hong Kong’s status as an international financial hub. SANY aims to deepen its connections with global capital markets while embarking on the next chapter of its globalization efforts.