Sany Heavy Industry Co., Ltd.'s Hong Kong IPO: "A+H" Dual Platform Anchors a New Journey of Globalization
HONG KONG, Oct. 30, 2025 /PRNewswire/ -- On October 28, Sany Heavy Industry Co., Ltd. (6031.HK) was officially listed on the Main Board of HKEX (Hong Kong Exchanges and Clearing Limited).
The listing marks a pivotal step in the company's capital deployment and globalization strategy, coming 21 years after its July 3, 2003, listed on the Shanghai Stock Exchange (600031.SH). It also finalizes the company's A+H dual-listing framework—a key milestone for its global expansion.
On the morning of the listing, government officials, business partners, intermediaries, and Sany Heavy Industry Co., Ltd.'s management joined the ceremony at HKEX to mark the occasion. At 9:30 a.m., Mr. Xiang Wenbo, Rotating Chairman of SANY Group and Chairman of Sany Heavy Industry Co., Ltd., together with Mr. Yu Hongfu, Director of SANY Group and President of Sany Heavy Industry Co., Ltd., struck the gong at the trading hall, signaling the firm's entry into international capital markets and the start of a new global growth phase.
At the listing ceremony, Mr. Xiang Wenbo remarked: "Sany Heavy Industry Co., Ltd.'s listing in Hong Kong is both the fulfillment of opportunities and the reward for our relentless efforts. It represents not only the capital market's recognition of SANY's high-quality development but also a historic opportunity for Sany Heavy Industry Co., Ltd. to explore broader international financing channels and embrace a larger global market. SANY will leverage Hong Kong, which is a 'super connector' for international capital, continue advancing the strategy of globalization, digitalization, and decarbonization. Through innovative technology and outstanding, solid performance, we will reward investors' trust and support, contribute SANY's strength to the construction of the international financial center of Hong Kong, and inject SANY's energy into global sustainable development."
For the H-share offering, Sany Heavy Industry Co., Ltd. offered approximately 632 million H-shares globally, with a 15% over-allotment option, at an offering price of HKD 21.30 per share. The IPO attracted 21 cornerstone investors, who together subscribed for US$759 million worth of shares. These cornerstone investors include Temasek, BlackRock, Infore Capital, Hillhouse, UBS Asset Management, LMR, RBC GAM, WT, Oaktree Capital, Foresight Fund, Perseverance, Greenwoods, Pinpoint, Ghisallo, Jane Street, Fenghe, Qube, Weichai Power, Dajia Insurance, Fast, and Value Partners, reflecting the strong confidence and high recognition of the international capital market in Sany Heavy Industry Co., Ltd..
Since its founding, Sany Heavy Industry Co., Ltd. has transformed from a single-product, single-market player into a world-class construction machinery firm with diversified offerings, global operations, and a leading market position. This growth was driven by organic expansion, strategic acquisitions, and joint ventures.
Currently, Sany Heavy Industry Co., Ltd. is advancing three core strategies: Globalization, Digitalization, and Decarbonization. Per Frost & Sullivan, it ranks 3rd globally and 1st in China for core construction machinery revenue (2020–2024). During the Track Record Period, products of the company have reached customers in over 150 countries and regions., with 2020–2024 global No.1 rankings in cumulative excavator sales and concrete machinery revenue. Overseas revenue grew at a 15.2% CAGR (2022–2024) and accounted for 57.4% of total sales in the four months ended April 30, 2025.
On Digitalization, Sany Heavy Industry Co., Ltd. uses digital tech to optimize end-to-end manufacturing, operations, and services, upgrading factories to build global competitiveness. As of April 30, 2025, it is the only global construction machinery firm with two World Economic Forum (WEF)-certified Lighthouse Factories—the Beijing Piling Machinery Plant and Changsha No. 18 Plant—serving as industry benchmarks for smart manufacturing.
For Decarbonization, Sany Heavy Industry Co., Ltd. is a leader in low-carbon construction machinery. It launched over 40 new energy product models in 2024, including excavators and mixers, with new energy revenue hitting RMB402.5 million—well above the global industry average contribution ratio. Its electric excavators, electric truck mixers, and electric dump trucks lead China in sales.
With the H-share listing as a catalyst, Sany Heavy Industry Co., Ltd. will deepen its three strategies: expanding global client reach via Globalization, boosting competitiveness through Digitalization, and building sustainability via Decarbonization. Net proceeds from the Global Offering will fund four key areas—global sales/service network expansion, R&D enhancement, overseas manufacturing capacity growth, and working capital replenishment—to support strategy execution and create investor value.
As the global market evolves, Sany Heavy Industry Co., Ltd. is poised to capitalize on global opportunities. It will continue to strengthen its position as a leading global construction machinery firm, driving growth through innovation and strategic expansion.
SOURCE Sany Heavy Industry Co., Ltd.
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