Changes in Hong Kong stocks | Sany International (00631) rose more than 4% in the afternoon, demand for overseas mining vehicles quickly released, management reaffirmed overseas revenue targets

The Zhitong Finance App learned that Sany International (00631) rose more than 4% in the afternoon. As of press release, it rose 3.70% to HK$9.815, with a turnover of HK$81.89,900.

According to the news, highlights of the investor conference held after Sany International's results for the first half of the year showed that the mining equipment business is growing strongly overseas. Management reiterated the target of 8 billion yuan in overseas revenue from the mining equipment business, and currently has orders of 3.4 billion yuan. In-hand orders for port machinery reached 7.9 billion yuan, which is higher than the level at the beginning of the year. About 80% of production capacity has already been reserved in 2027. Furthermore, the company's management confirmed that it will exit the PV business in an orderly manner.

Galaxy Securities believes that demand for overseas mining vehicles has been released rapidly, domestic demand for TBM and the like has rebounded from the bottom, the company's profit growth rate in the second quarter compared to the first quarter has been corrected, and there are plenty of order reserves for mining vehicles and Hong Kong Machinery. CMB International, on the other hand, said it remains optimistic about Sany International's structural penetration into large-scale overseas mining card markets.