HK Stock Market Move | SANY INT'L (00631) rose nearly 9% in early trading as management reiterated the target of achieving 8 billion yuan in overseas revenue from the mining equipment business.

SANY INT'L (00631) rose nearly 9% in the early session. As of press time, it was up 7.80%, trading at HKD 9.74 with a turnover of HKD 77.5375 million. In terms of news, key points from the investor meeting held after SANY INT'L's first-half performance indicate that the overseas growth momentum for mining equipment is strong. Management reiterated the target of achieving overseas revenue of RMB 8 billion for the mining equipment business, with current orders reaching RMB 3.4 billion. Orders for port machinery stand at RMB 7.9 billion, up from the beginning of the year, and approximately 80% of production capacity for 2027 has already been booked. Additionally, company management confirmed an orderly exit from the photovoltaic business. UBS released a research report stating that, based on the first-half performance and order situation, it has raised SANY INT'L's earnings per share forecast for 2026 to 2028 by 3% to 16% to reflect stronger-than-expected profits from mining trucks and port machinery, although this was partly offset by downward adjustments in coal and emerging business assumptions. The target price-to-earnings ratio for next year remains unchanged at 12 times, with the target price increased from HKD 9.45 to HKD 10.8, maintaining a "buy" rating.