#Hong Kong #Global Expansion #SANY Heavy Industry

SANY Heavy Industry Achieves Historic Listing

SANY Heavy Industry, with stock code 6031.HK, marked a significant milestone in its global growth by officially listing on the Main Board of the Hong Kong Stock Exchange (HKEX) on October 28. This dual listing, termed A+H, follows its debut on the Shanghai Stock Exchange back in 2003, when it was originally listed under stock code 600031.SH. The move represents not just a transition to broader market access but also a foundation for SANY's ongoing international expansion.

The company successfully issued around 632 million H-shares, which included a 15% over-allotment option, at an offering price of HKD 21.30 per share. This IPO attracted 21 cornerstone investors who collectively subscribed for USD 759 million worth of shares, with notable names such as Temasek, BlackRock, and Oaktree Capital. The enthusiastic response from the capital markets underscores the robust confidence in SANY's sustainable development and future growth potential.

During the listing ceremony at HKEX, key figures from SANY, including Mr. Xiang Wenbo, rotating chairman of the SANY Group, and Mr. Yu Hongfu, president of SANY Heavy Industry, participated in the bell-ringing event. Xiang emphasized that this step reflects strong market confidence in the quality growth of SANY, providing a historic opportunity to broaden their international financing channels. Leveraging Hong Kong's strategic role as a global financial hub, SANY aims to create sustainable value while adhering to its core strategies of globalization, digitalization, and decarbonization.

According to insights from Frost & Sullivan, SANY holds the position of the third-largest construction machinery manufacturer globally from 2020 to 2024, ranking first in China. With a remarkable annual growth rate of 15.2% from overseas sales, the company is among the most internationalized enterprises in the heavy machinery sector. SANY is at the forefront of digital and intelligent manufacturing, recognized as the sole company in its industry to have two Lighthouse Factories certified by the World Economic Forum (WEF).

In line with its push towards sustainable practices, SANY transitioned to low-carbon technologies, launching over 40 new energy products in 2024 and amassing USD 567 million in sales revenue from those products. This latest listing on the HKEX marks a recommencement of SANY Heavy Industry's international journey, capitalizing on its established strategies and enhancing its connections to global capital markets.

Future Outlook

SANY is poised for a new chapter in its global operations, capitalizing on its strong market position and the opportunities presented by its Hong Kong listing. As the company navigates through the complexities of international markets, it aims to deepen its ties with investors and stakeholders worldwide, reinforcing its commitment to innovation and leadership in sustainable construction equipment manufacturing.

With its strategic initiatives in place, SANY Heavy Industry is well on its way to achieving its vision of becoming a key player in the global market, driven by a commitment to enhance operational efficiency and invest in environmental sustainability. Through bold decisions and a proactive approach to market entry, SANY is set not only to grow but also to contribute positively to the construction sector and beyond, shaping a better and greener future for generations to come.