香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 SANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS COMPANY LIMITED 三一重裝國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：631） 2025年持續關連交易 序言 茲提述(i)三一重裝國際控股有限公司（「本公司」）日期為2022年12月16日、2023年10 月30日、2024年10月24日、2025年9月5日及2025年10月20日內容有關持續關連交易 的公告（「該等公告」）；(ii)本公司日期為2023年1月18日、2023年11月20日及2024年 11月22日的通函（「該等通函」）；及(iii)三一重工股份有限公司（「三一重工」，連同其 附屬公司統稱「三一重工集團」）日期為2025年10月20日的招股章程。除文義另有所 指外，本公告所用詞彙與該等公告及該等通函所界定者具有相同涵義。 如該等公告所述，本公司須通過訂立2025年梁穩 ...

SANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS COMPANY LIMITED 三一重裝國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：631） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 為免生疑問，上述條件達成前，現有協議仍有效且具完全效力。 本公司將就2025年梁穩根協議及2025年三一重工協議另行作出公告。 董事認為，重組持續關連交易僅為三一重工可能上市之目的而擬定，並不會改變本 集團、三一集團及三一重工集團之間的整體業務交易，亦不會對本公司的財務狀況 及營運產生重大不利影響。 承董事會命 三一重裝國際控股有限公司 董事長 梁在中 重組持續關連交易 茲提述三一重裝國際控股有限公司（「本公司」）日期為2022年12月16日、2023年10月 30日、2024年10月24日及2025年9月5日有關持續關連交易的公告（「該等公告」）及日 期為2025年10月20日之三一重工股份有限公司（「三 ...

Core Viewpoint - SANY International (00631.HK) announced a board meeting scheduled for October 30, 2025, to consider and approve the unaudited consolidated financial data for the nine months ending September 30, 2025 [1] Group 1 - The board meeting will focus on financial data approval [1]

三一重裝國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，將於 2025年10月30日（星期四）舉行董事會會議，藉以（其中包括）考慮及批准本公司及其 附屬公司於截至2025年9月30日止九個月未經審閱綜合財務數據。 承董事會命 SANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS COMPANY LIMITED 三一重裝國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：631） 董事會會議通告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 三一重裝國際控股有限公司 董事長 梁在中 香港，2025年10月16日 於本公告日期，執行董事為梁在中先生、戚建先生及伏衞忠先生，非執行董事為唐 修國先生及向文波先生，以及獨立非執行董事為潘昭國先生、胡吉全先生、楊樹勇 先生及周蘭女士。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 SANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS COMPANY LIMITED 延遲寄發通函 茲提述三一重裝國際控股有限公司刊發日期為2025年9月5日的公告（「該公告」），內 容有關重續持續關連交易。除非另有界定或說明外，否則本公告所用詞彙與該公告 所界定者具有相同涵義。 由於需要更多時間落實通函的內容，故預期通函將延遲至不遲於2025年10月31日上 載。 承董事會命 三一重裝國際控股有限公司 董事長 梁在中先生 香港，2025年10月15日 三一重裝國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：631） 於本公告日期，執行董事為梁在中先生、戚建先生及伏衛忠先生；非執行董事為唐 修國先生及向文波先生；及獨立非執行董事為潘昭國先生、胡吉全先生、楊樹勇先 生及周蘭女士。 ...

Group 1 - The core viewpoint of the report is that SANY International (00631) is given a target price of HKD 11 and an outperform rating by Credit Lyonnais [1] - The company is expected to achieve a profit of RMB 2.5 billion in 2025, with a compound annual growth rate (CAGR) of 54%, reaching RMB 4 billion by 2027 [1] - The CAGR for the truck and port equipment segments is projected to be 30% and 25%, respectively [1] Group 2 - SANY International focuses on the mining and port equipment industry [1] - The trend towards electrification and breakthroughs in hybrid technology for electric mining trucks are driving mining companies to seek new truck suppliers due to significant advantages in fuel efficiency and maintenance requirements [1] - The company's order-to-bill ratio has reached record highs, driven by the recovery of global trade and supply chain disruptions post-pandemic [1]

Core Viewpoint - The report from Credit Lyonnais initiates coverage on SANY International (00631) with a target price of HKD 11 and an outperform rating, projecting a significant growth in earnings driven by trends in electrification and recovery in global trade [1] Group 1: Financial Projections - The company is expected to achieve earnings of RMB 2.5 billion in 2025, with a compound annual growth rate (CAGR) of 54%, reaching RMB 4 billion by 2027 [1] - The CAGR for the truck and port equipment segments is projected at 30% and 25%, respectively [1] Group 2: Industry Trends - The electrification trend and breakthroughs in hybrid technology for electric mining trucks are prompting mining companies to seek new suppliers, highlighting advantages in fuel efficiency and maintenance needs [1] - The post-pandemic recovery in global trade and supply chain disruptions have led to a record high in the company's book-to-bill ratio [1]

Core Viewpoint - Credit Suisse has set a target price of HKD 11 for SANY International with an "Outperform" rating, highlighting the company's focus on the mining and port equipment sectors, driven by trends in electrification and hybrid technology breakthroughs in electric mining trucks [1] Group 1: Company Performance - SANY International is benefiting from the electrification trend and advancements in hybrid technology for electric mining trucks, which are prompting mining companies to seek new truck suppliers due to significant advantages in fuel efficiency and maintenance requirements [1] - The company's order-to-delivery ratio has reached a record high, driven by the recovery of global trade post-pandemic and disruptions in supply chains [1] Group 2: Financial Projections - The company is expected to achieve a profit of HKD 2.5 billion by 2025, increasing to HKD 4 billion by 2027, representing a compound annual growth rate (CAGR) of 54% [1] - The CAGR for truck and port equipment is projected to be 30% and 25% respectively [1]

致：香港交易及結算所有限公司 公司名稱: 三一重裝國際控股有限公司 呈交日期: 2025年10月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00631 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 4,461,067,880 | HKD | | | 0.1 HKD | | | 446,106,788 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | 0 | | 本月底結存 | | | 4,461,067,880 | HKD | | | 0.1 HKD | | | 446,106,788 | | 2. 股份分類 | 優先股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 ( ...

Financial Performance - For the first half of 2025, the company achieved a revenue of RMB 12,236.6 million, representing a year-on-year growth of 13.8%[12] - The net profit for the same period was RMB 1,294.2 million, an increase of 31.1% compared to the previous year[12] - The company's overseas sales revenue reached RMB 4,018.9 million, marking a growth of 5.4% year-on-year[13] - The emerging industries segment saw a significant revenue increase of 276.2%, totaling RMB 2,594.4 million[14] - The company achieved a revenue of RMB 12,236.6 million for the first half of 2025, representing a year-on-year increase of 13.8%[17] - Profit for the period was RMB 1,294.2 million, up 31.1% year-on-year, with attributable profit to shareholders increasing by 25.3% to RMB 1,294.4 million[17][29] - International revenue reached RMB 4,018.9 million, reflecting a growth of 5.4% compared to the previous year[17] - Other income and gains increased by 61.2% to RMB 594.1 million, primarily due to higher government subsidies and bank interest income[20] - Sales cost rose by 14.9% to RMB 9,337.9 million, driven by increased revenue from oil and gas equipment and emerging industries[21] - Gross margin decreased to approximately 23.7%, down 0.7 percentage points from the previous year, attributed to a higher proportion of lower-margin product sales[22] - The company's pre-tax profit margin improved to 14.0%, up 3.3 percentage points, due to lower sales and distribution costs and increased other income[27] Cash Flow and Assets - The cash flow from operating activities improved significantly to RMB 368.4 million, compared to a negative RMB 152.9 million in the previous year, reflecting a 340.9% increase[5] - As of June 30, 2025, total current assets were RMB 28,553.6 million, while total liabilities were RMB 31,128.4 million, resulting in a debt-to-asset ratio of 63.5%[31][32] - As of June 30, 2025, the group's cash and cash equivalents totaled approximately RMB 6,219.5 million, with a net operating cash inflow of RMB 368.4 million for the six months ending June 30, 2025, compared to a net outflow of RMB 152.9 million for the same period in 2024[35] - The average inventory turnover days increased to approximately 106 days as of June 30, 2025, from about 82 days a year earlier, primarily due to increased inventory in emerging industries and additional overseas stock[36] - The net investment cash inflow was approximately RMB 92.6 million for the six months ending June 30, 2025, a significant improvement from a net outflow of RMB 346.7 million in the same period of 2024, mainly due to increased cash inflow from the sale of financial assets[35] - The group had a net financing cash inflow of approximately RMB 460.5 million for the six months ending June 30, 2025, a decrease from RMB 1,734.0 million in the same period of 2024, attributed to a significant reduction in new borrowings[35] Employee and Training - The group had 7,843 full-time employees as of June 30, 2025, with ongoing internal and external training programs to enhance employee skills and engagement[39] Research and Development - Research and development expenses were RMB 701.7 million, a decrease of 13.7%, with R&D expenses as a percentage of revenue falling to 5.7%[24] - The company is committed to enhancing its research and development capabilities and has collaborated with Northeast University to explore AI-driven industrial innovations[46] Corporate Governance - The board consists of nine directors as of June 30, 2025, including three executive directors, two non-executive directors, and four independent non-executive directors[93] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim financial statements for the six months ending June 30, 2025[94] - The company has adopted a standard code for securities trading, with all directors confirming compliance for the six months ending June 30, 2025[89] - The company has established an ESG committee to oversee environmental, social, and governance matters since February 20, 2023[99] - The remuneration committee is responsible for reviewing compensation strategies and evaluating executive performance as of June 30, 2025[96] - The strategic investment committee is tasked with business development and investment analysis, chaired by the executive director as of June 30, 2025[98] - The company has committed to improving corporate governance practices to enhance shareholder value[93] - The company has complied with the corporate governance code during the period from January 1, 2025, to June 30, 2025[88] Shareholder Information - As of June 30, 2025, the company has issued a total of 2,568,818,722 voting shares, with major shareholders holding 79.51% of these shares[52] - Mr. Liang Wengen holds a beneficial interest in 2,579,688,722 shares, representing 79.85% of the company's voting shares[52] - The company maintains sufficient public float as per the listing rules, ensuring compliance with regulatory requirements[54] - The 2013 Share Option Scheme, adopted on February 16, 2013, is set to expire on February 15, 2023, with no changes in options granted as of June 30, 2025[55][56] - The 2023 stock option plan was approved on August 11, 2023, replacing the expired 2013 plan, expanding eligible participants to include related entity participants and service providers[58] - The overall plan limit is set at 318,860,946 shares, with a service provider sub-limit of 31,886,094 shares, representing 10% and 1% of the issued share capital respectively[63] - The 2023 stock option plan is valid for ten years, expiring on August 10, 2033, unless terminated earlier by shareholders[64] - The vesting period for all stock options is a minimum of 12 months, with the board having discretion to shorten this period for employee participants[65] - Eligible participants under the 2023 stock option plan include employees, related entity participants, and service providers deemed to contribute to the group's performance[61] - The plan aims to incentivize eligible participants to contribute more significantly to the group and to retain key contributors[60] - No stock options have been granted under the 2023 stock option plan since its adoption[69] Dividend and Share Issuance - The company has not declared an interim dividend for the six months ending June 30, 2025, consistent with the previous period[91] - The company declared a final dividend of RMB (983,716) thousand for the year 2024[112] - The company issued 16,813,599 new ordinary shares during the six months ended June 30, 2025, increasing the total issued and paid-up ordinary shares to 3,230,704,104[193] - The total issued and paid-up capital as of June 30, 2025, was RMB 318,941,000, up from RMB 317,394,000 as of December 31, 2024, reflecting a growth of about 0.5%[193] Segment Performance - Total revenue for the six months ended June 30, 2025, was RMB 594,104,000, an increase from RMB 368,568,000 in the same period of 2024, representing a growth of 60.9%[133] - The mining equipment segment reported a profit of RMB 768.612 million, while the logistics equipment segment reported RMB 739.110 million, and the emerging industry equipment segment reported RMB 57.169 million[123] - The mining equipment segment generated revenue of RMB 4,636,791,000, while the logistics equipment segment contributed RMB 3,680,398,000, and the oil and gas equipment segment brought in RMB 1,324,966,000[130] Government Subsidies and Interest Income - Bank interest income rose significantly to RMB 118,623,000 in 2025 from RMB 59,234,000 in 2024, marking a 100.4% increase[133] - Government subsidies increased to RMB 293,842,000 in 2025, up from RMB 170,929,000 in 2024, reflecting a growth of 72.0%[133] Liabilities and Financial Position - As of June 30, 2025, total liabilities included RMB 12,047.422 million in unallocated corporate liabilities[123] - The company’s total liabilities increased to RMB 10,889,469,000 as of June 30, 2025, compared to RMB 9,934,599,000 at the end of 2024, reflecting a growth of approximately 9.6%[182] - The company’s interest-bearing bank and other borrowings totaled RMB 10,889,469,000 as of June 30, 2025, compared to RMB 9,934,599,000 as of December 31, 2024, reflecting an increase of approximately 9.6%[182] Impairment and Receivables - The group recognized a net impairment of trade receivables amounting to RMB 85.534 million during the period[123] - The impairment loss for trade receivables rose to RMB 798,661,000 as of June 30, 2025, compared to RMB 718,022,000 as of December 31, 2024, indicating an increase of about 11.2%[164] - The company reported that trade receivables from subsidiaries amounted to RMB 3,489,092,000 as of June 30, 2025, compared to RMB 2,433,709,000 as of December 31, 2024, representing a significant increase of approximately 43.4%[162]