Sany Heavy Industry (06031) will be listed from October 20th to October 23rd. It plans to globally issue 580 million H shares and has received cornerstone subscriptions totaling 758 million US dollars.

Sany Heavy Industry (06031) will be listing from October 20, 2025 to October 23, 2025. The company plans to globally issue 580 million H shares, with approximately 10% of the shares being offered in Hong Kong and 90% internationally. The offering price is set at HK$20.3 to HK$21.3 per share. Trading of the H shares is expected to begin on October 28, 2025, at 9:00 am on the Hong Kong Stock Exchange. Established in 1994, the group is a leading global engineering machinery enterprise driven by innovation. The group focuses on the research and development, manufacturing, sales, and service of a full range of engineering machinery products including excavating machinery, concrete machinery, lifting machinery, piling machinery, and road machinery. Based on the cumulative revenue of core engineering machinery products from 2020 to 2024, the group is the third largest global and the largest Chinese engineering machinery enterprise. During the previous period, the group's products have been sold to over 150 countries and regions worldwide, with overseas revenue accounting for 57.4% of the total revenue as of April 30, 2025. The group's products are trusted by global customers and have been extensively used in construction projects such as the Hong Kong-Zhuhai-Macau Bridge, London Olympic venues, Burj Khalifa, and Beijing Olympic venues. The group has entered into cornerstone investment agreements with many investors and plans to use the net proceeds from the global offering for various purposes including further developing the global sales and service network, enhancing research and development capabilities, expanding overseas manufacturing capacity, and for general corporate purposes. The group's financial performance has been strong with revenue scale, profitability, and operating quality maintaining industry-leading levels. During the previous period, the group's financial indicators showed resilience, with strong revenue and profit growth. The group's revenue for the years 2022, 2023, 2024, and the four months ending on April 30, 2025 were RMB 808.39 billion, RMB 740.19 billion, RMB 783.83 billion, and RMB 294.26 billion respectively. The group's gross profit margin increased from 22.6% in 2022 to 26.7% in 2024. The net profit margin also improved from 5.5% in 2022 to 11.8% in the four months ending on April 30, 2025. (Note: The translation may not be perfect due to the complexity and technical nature of the content)