Business
Sany Heavy Industry Passed the Listing Hearing of HKEX, Targeting "A+H" Listing
On October 12th, according to the Hong Kong Stock Exchange, Sany Heavy Industry Co., Ltd. ("Sany Heavy Industry") has passed the listing hearing. This marks a critical step towards the Company's proposed "A+H" listing on the Hong Kong Stock Exchange, leveraging the capital markets to further consolidate its industry position in the global market.
About this update from Sany Heavy Industry Co., Ltd. Class A
[{"type":"text","content":"HONG KONG, Oct. 13, 2025 /PRNewswire/ -- On October 12th, according to the Hong Kong Stock Exchange, Sany Heavy Industry Co., Ltd. ("Sany Heavy Industry") has passed the listing hearing. This marks a critical step towards the Company's proposed "A+H" listing on the Hong Kong Stock Exchange, leveraging the capital markets to further consolidate its industry position in the global market.","length":413,"tagName":"p"},{"type":"text","content":"Sany Heavy Industry is a global leader in the construction machinery industry. According to Frost & Sullivan, Sany Heavy Industry is the world's third largest and China's largest construction machinery company in terms of core construction machinery's cumulative revenue from 2020 to 2024. From 2020 to 2024, Sany Heavy Industry ranked first globally in terms of cumulative sales volume of excavators and in terms of cumulative revenue of concrete machinery. Sany Heavy Industry has consistently maintained a leading financial performance in the industry. The recorded revenue in 2022, 2023 and 2024 was RMB80.84 billion, RMB74.02 billion and RMB78.38 billion, respectively, with annual profit of RMB4.43 billion, RMB4.61 billion and RMB6.09 billion, respectively. Key operating indicators such as operating cashflow, sales collection ratio and inventory turnover ratio were all significantly above the industry average.","length":936,"tagName":"p"},{"type":"text","content":"Sany Heavy Industry regards R&D and innovation as the primary driving force of the development and has consistently devoted substantial resources to R&D. As of December 31, 2024, Sany Heavy Industry had 21 R&D centers globally. During the Track Record Period, the cumulative research and development expenses of Sany Heavy Industry amounted to RMB18.17 billion. According to Frost & Sullivan, the research and development expenses as a percentage of revenue of Sany Heavy Industry surpassed the average level of global peers during the same period. As of December 31, 2024, Sany Heavy Industry had 5,867 R&D employees, representing 23.1% of the total workforce, with 42.3% of them holding a master's degree or above. As of December 31, 2024, Sany Heavy Industry had over 8,900 patents, making their patent portfolio one of the largest in China's construction machinery industry.","...