财联社2月26日讯（编辑 胡家荣）受益于政策利好，在港股上市的重型机械股多数上涨。其中三一重工大涨超17%并领先其板块，紧随其后的是，中国重汽(03808.HK)、第一拖拉机股份(00038.HK)等相关个股均分别上涨6.91%、2.54%。 注：港股重型机械股的表现 2月23日下午，中央财经委员会第四次会议召开。会议研究大规模设备更新和消费品以旧换新问题，以及有效降低全社会物流成本问题。 对此华创证券指出，通用设备作为中游工业投资品，其增长动力受下游需求驱动，具备典型周期性成长特征。下游资本开支波动传导至上游，形成补库存和去库存的库存周期，在大规模设备更新政策和产业升级趋势影响下，有望率先受益。通用设备主要包括工业母机、注塑机、工业机器人、工控、工程机械等。 此外，上海证券近日指出，万亿国债项目全部下达完毕，工程机械需求或有望边际改善。该券商还指出，万亿国债项目的陆续落地或将加速挖掘机、装载机、推土机、压路机等库存的消化，考虑到宏观经济政策效果显现存在滞后性，托底效应在后续项目开工率、开工小时提升上或有所体现。 三一国际和中国重汽涨幅居前 受以上消息提振，作为港股重型机械股代表的三一国际和中国重汽表现居前 ...

[SANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS COMPANY LIMITED Unaudited Financial Data for Q3 2023](index=1&type=section&id=SANY%20HEAVY%20EQUIPMENT%20INTERNATIONAL%20HOLDINGS%20COMPANY%20LIMITED%20Unaudited%20Financial%20Data%20for%20Q3%202023) [Financial Performance for the Nine Months Ended September 30, 2023](index=1&type=section&id=Financial%20Performance%20for%20the%20Nine%20Months%20Ended%20September%2030%2C%202023) The company achieved strong performance in the first nine months of 2023, with consolidated revenue growing by **36.5%** to RMB 15.84 billion and net profit attributable to owners of the parent increasing by **36.7%** Financial Summary for the Nine Months Ended September 30, 2023 (Unaudited) | Metric | Nine Months Ended Sep 30, 2023 (RMB Thousands) | Nine Months Ended Sep 30, 2022 (RMB Thousands) | Growth Rate (%) | | :--- | :--- | :--- | :--- | | Revenue | 15,836,778 | 11,600,373 | 36.5% | | Gross Profit | 4,308,415 | 2,700,976 | 59.5% | | Profit Before Tax | 2,095,675 | 1,456,112 | 43.9% | | Profit | 1,727,001 | 1,292,750 | 33.6% | | Profit Attributable to Owners of the Parent | 1,771,790 | 1,296,309 | 36.7% | [Financial Performance for the Three Months Ended September 30, 2023 (Q3)](index=2&type=section&id=Financial%20Performance%20for%20the%20Three%20Months%20Ended%20September%2030%2C%202023%20%28Q3%29) The company's Q3 2023 performance continued its growth momentum, with consolidated revenue increasing by **25.9%** to RMB 5.00 billion and net profit attributable to owners of the parent surging by **45.9%** Financial Summary for the Three Months Ended September 30, 2023 (Q3) (Unaudited) | Metric | Three Months Ended Sep 30, 2023 (RMB Thousands) | Three Months Ended Sep 30, 2022 (RMB Thousands) | Growth Rate (%) | | :--- | :--- | :--- | :--- | | Revenue | 4,997,590 | 3,968,631 | 25.9% | | Gross Profit | 1,476,474 | 879,102 | 68.0% | | Profit Before Tax | 655,073 | 432,144 | 51.6% | | Profit | 543,696 | 380,134 | 43.0% | | Profit Attributable to Owners of the Parent | 569,841 | 390,520 | 45.9% | [Analysis of Performance Drivers](index=3&type=section&id=Analysis%20of%20Performance%20Drivers) Performance growth is primarily driven by the successful implementation of globalization, digitalization, and low-carbon strategies, alongside significant international market expansion and enhanced product gross margins - Deep implementation of globalization, digitalization, and low-carbon strategies led to a **significant increase in revenue** from intelligent and electrified new products, such as integrated mining, wide-body vehicles, and port machinery[4](index=4&type=chunk) - The globalization strategy achieved remarkable results, with international markets experiencing leapfrog development and **international sales revenue growing substantially**[5](index=5&type=chunk) - Newly acquired oil and gas equipment and emerging industry equipment segments began contributing revenue[6](index=6&type=chunk) - Product gross margins were **effectively improved** through digitalized operations, quality and efficiency enhancements, and cost reduction and control[6](index=6&type=chunk)

Financial Performance - The company achieved a revenue of approximately RMB 10,839.2 million for the first half of 2023, representing a year-on-year growth of 42.0%[12]. - Net profit attributable to the parent company reached RMB 1,201.9 million, an increase of 32.7% compared to the same period in 2022[12]. - International sales grew significantly, with a revenue increase of 68.3%, and international revenue now accounts for 29.9% of total revenue[12]. - The gross profit margin improved to approximately 26.1%, up 2.3 percentage points from 23.8% in the same period last year, attributed to higher sales of products with better margins and cost reduction measures[27]. - The company reported a total comprehensive income of RMB 1,301,217 thousand for the first half of 2023, compared to RMB 887,944 thousand in the first half of 2022, reflecting a year-on-year increase of approximately 46.5%[136]. - The group recognized a foreign exchange gain of RMB 33,217,000 in 2023, compared to a loss of RMB 20,483,000 in 2022, indicating a positive turnaround[161]. - The company reported a net profit of RMB 1,183,305 thousand for the period, after accounting for income tax expenses of RMB 257,297 thousand[147]. Research and Development - The company increased its R&D expenditure ratio to 6.9%, up by 1.4 percentage points year-on-year, with electric products revenue growing by 135%[13]. - Research and development expenses rose to approximately RMB 748.4 million, a 79.7% increase from RMB 416.4 million in the same period last year, with R&D expenses accounting for 6.9% of revenue[29]. - The company is focusing on developing low-carbon technology products and solutions as part of its R&D strategy, including the SET150S energy-efficient mining truck and the EBZ280D intelligent tunneling machine[57]. - The company has established partnerships with institutions like the Chinese Academy of Sciences and Northeast University to promote technological innovation and development[57]. Acquisitions and Business Expansion - The company completed the acquisition of Sany Petroleum Technology Hong Kong Limited for RMB 2,980 million, expanding its business into the oil and gas equipment sector[14]. - The company completed the acquisition of Sany Petroleum Technology Hong Kong Limited for RMB 2,980 million on June 10, 2023, making it a wholly-owned subsidiary[50]. - The company expanded its reportable segments from two to four, reflecting an enlarged business structure[143]. Cash Flow and Assets - Cash flow from operating activities increased significantly to RMB 985.1 million, a rise of 893.3% compared to the previous year[4]. - The total assets of the company reached RMB 35,986.9 million, reflecting a growth of 55.5% year-on-year[4]. - As of June 30, 2023, total current assets amounted to approximately RMB 23,816.3 million, up from RMB 17,190.7 million as of December 31, 2022[36]. - The company raised RMB 2,789,896 thousand through new bank loans in the first half of 2023, compared to RMB 1,470,529 thousand in the same period of 2022, indicating a 89.5% increase in financing activities[137]. Employee and Corporate Governance - The company employed a total of 9,700 employees as of June 30, 2023, an increase from 6,441 employees as of December 31, 2022[47]. - The company has adopted good corporate governance practices and complied with all applicable code provisions during the reporting period[100]. - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors, ensuring a diverse range of expertise[107]. Share Options and Incentives - The company has implemented a stock option plan and a restricted share incentive plan to incentivize its directors and senior management[61]. - The new 2023 Share Option Scheme was approved on August 11, 2023, to replace the expired 2013 scheme, expanding the definition of eligible participants[75]. - The purpose of the 2023 Share Option Scheme is to incentivize eligible participants to contribute more significantly to the group's future performance and to reward past contributions[77]. - The remuneration committee has approved the grant of a total of 11,613,671 restricted shares to recognize contributions to the group's development and maintain long-term stability of the core management team[118]. Market Position and Strategy - The market share for intelligent tunneling machines reached 80%, demonstrating the company's industry leadership[13]. - The company plans to continue advancing its globalization, digitalization, and low-carbon strategies, focusing on high-reliability and cost-effective products[17]. - The company aims to enhance customer satisfaction through innovative service models and rapid response mechanisms[17]. Financial Ratios and Liabilities - The debt-to-asset ratio was approximately 61.4% as of June 30, 2023, compared to 50.9% as of December 31, 2022[37]. - Total liabilities increased to RMB 18,541,336 thousand from RMB 10,835,778 thousand, reflecting a growth of 71.5%[130]. - The total tax expense for the six months ended June 30, 2023, was RMB 257,297,000, up from RMB 111,352,000 in 2022, indicating a rise of about 131.9%[165].

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 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） 截至2023年6月30日止六個月之中期業績公告 三一重裝國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司（統稱「本集團」）截至2023年6月30日止六個月的未經審核簡明綜合中期業績。 財務摘要 截至2023年6月30日止六個月，本集團實現收入約人民幣10,839.2百萬元，較截至2022 年6月30日止六個月的約人民幣7,631.7百萬元增加約人民幣3,207.5百萬元，增長約 42.0%。該等增加乃主要由於(1)智能化、電動化新產品持續滲透市場，使得本集團綜 採、寬體車、小港機及大港機產品收入大幅增加；(2)國際市場拓展成效顯著，國際銷 售收 ...

Financial Performance - The unaudited consolidated revenue for the three months ended March 31, 2023, was approximately RMB 5,438,236,000, an increase of about 32.1% compared to RMB 4,115,646,000 for the same period in 2022[2] - The unaudited consolidated gross profit for the same period was approximately RMB 1,330,265,000, representing a 52.9% increase from RMB 869,789,000 in 2022[2] - The unaudited consolidated net profit for the period was approximately RMB 646,782,000, up about 45.3% from RMB 445,003,000 in the same period of 2022[2] - The net profit attributable to the parent company was approximately RMB 650,256,000, an increase of about 46.4% compared to RMB 444,063,000 in 2022[3] Growth Drivers - The significant increase in revenue and net profit was primarily driven by accelerated construction of smart mines and smart ports due to national policies, leading to substantial growth in the sales of products such as wide-body trucks and port machinery[4] - The company's internationalization strategy has shown significant results, with substantial growth in international sales of wide-body trucks, tunneling machines, and port machinery products[5] - The implementation of digital and intelligent operations has improved overall product gross profit margins, contributing to the substantial increase in profitability[5]

Financial Performance - Revenue for 2022 reached RMB 15,536.7 million, a 52.4% increase compared to 2021[21] - Net profit for 2022 was RMB 1,669.1 million, up 27.5% year-over-year[21] - Gross profit margin remained stable at 23.4% in 2022, consistent with 2021[21] - Sales exceeded RMB 10 billion in 2022, setting a new historical record[23] - The company achieved a revenue of RMB 15,536.7 million in 2022, a year-on-year increase of 52.4%, with a net profit of RMB 1,669.1 million, up 27.5%[31] - Revenue for the year ended December 31, 2022, reached approximately RMB 15,536.7 million, a 52.4% increase compared to RMB 10,194.6 million in 2021, driven by the rapid market introduction of intelligent and electrified products and significant international market expansion[40] - Gross profit for 2022 was approximately RMB 3,628.3 million, with a gross margin of 23.4%, remaining stable compared to 2021[43] - Net profit attributable to owners of the parent company increased by 32.2% to approximately RMB 1,664.9 million in 2022, up from RMB 1,259.1 million in 2021[49] - Adjusted profit attributable to owners of the parent company increased by 50.2% to approximately RMB 1,664.9 million in 2022, compared to RMB 1,108.6 million in 2021[51] - The pre-tax profit margin for 2022 was 12.4%, a decrease of 1.7 percentage points compared to 14.1% in 2021, primarily due to the absence of gains from the sale of Xinjiang Sany in 2022[48] Market Share and Industry Leadership - Market share of comprehensive excavation products exceeded 60%, maintaining industry leadership for 14 consecutive years[23] - The company's mining equipment business exceeded RMB 10 billion in sales, with a 6-fold increase over 5 years[32] International Expansion - Overseas sales revenue increased by 101.5% in 2022, accounting for 27.2% of total revenue[32] - Overseas sales revenue for tunneling machines surged by 247.6%, and wide-body vehicle sales revenue grew by 135.9%, marking a significant breakthrough in international market promotion[38] - The company signed over 100 equipment orders with PSA Group, including cranes, electric stackers, and electric container trucks, marking its largest overseas crane project[39] Research and Development - R&D expenses in 2022 amounted to RMB 860.0 million, a 14.5% increase year-on-year[32] - R&D expenses increased by 14.5% to approximately RMB 860.0 million in 2022, focusing on intelligent, electrified, and internationalized product development[45] Automation and Smart Mining - The company secured its largest-ever automation order worth nearly RMB 1 billion for 42 fully automated rail-mounted gantry cranes[24] - Established intelligent excavation demonstration projects in Guizhou and Shanxi, achieving significant advancements in smart mining[26] - The company's smart mining equipment achieved over 300,000 kilometers of unmanned driving, with an overall operational efficiency of 88%[35] - The company signed orders worth nearly RMB 1 billion for automated rail-mounted gantry cranes[36] - The company delivered 14 automated rubber-tired gantry cranes to Tianjin Port, setting a new operational efficiency record[36] New Energy and Electrification - Expanded into the new energy equipment sector through the acquisition of Sany Technology Equipment, focusing on R&D and manufacturing of new energy battery equipment[20] - The SKT105EC electric wide-body vehicle, featuring a battery-swapping solution, entered customer trials, becoming the industry's first integrated mining battery-swapping solution[37] - The company's electric products, including electric stackers and electric container trucks, have been deployed in 22 provinces in China and exported to markets such as Singapore, New Zealand, and India, with cumulative sales exceeding 500 units[37] - The company aims to achieve full coverage of electric product lines, including electric mining trucks, electric wide-body vehicles, and electric port machinery[116] Financial Position and Assets - The company's total assets and net assets as of December 31, 2022, were RMB 24,953.3 million and RMB 10,103.8 million, respectively[31] - Total assets increased to RMB 24,953.3 million in 2022, up from RMB 20,785.1 million in 2021, with a debt-to-asset ratio of 50.9% (51.4% in 2021)[52] - Accounts receivable and notes receivable increased by 46.6% to RMB 8,740.9 million in 2022, driven by higher sales revenue[53] - Interest-bearing bank and other borrowings totaled RMB 3,645.4 million in 2022, primarily for potential capital investments and acquisitions[54] - Net operating cash inflow increased to RMB 1,084.4 million in 2022, up from RMB 922.8 million in 2021, due to strengthened collection efforts[55] - Net investment cash inflow was RMB 639.2 million in 2022, compared to a net outflow of RMB 296.0 million in 2021, mainly due to reduced purchases of financial products[56] - Inventory turnover days decreased by 11.4 days to 94.0 days in 2022, reflecting improved inventory management[57] - Trade receivables turnover days decreased by 15.8 days to 172.7 days in 2022, driven by value-based sales and enhanced collection[57] - The company's property, plant, and equipment amounted to approximately RMB 4,065.9 million as of December 31, 2022[111] Shareholder and Dividend Information - The company declared a final dividend of HKD 0.19 per ordinary share, totaling HKD 602,849,872 based on 3,172,894,062 shares as of February 28, 2023[86] - The company has 479,781,034 unexercised convertible preference shares, entitling holders to a priority distribution of approximately HKD 96,388 and a final dividend of HKD 0.19 per share, totaling HKD 91,158,396[88] - The company's distributable reserves, including the share premium account, amounted to approximately RMB 4,335.4 million as of December 31, 2022[91] - The company's share capital changes during the year ended December 31, 2022 are detailed in the financial statements[92] - The company's share option plan has a maximum limit of 304,102,500 shares, representing 10% of the issued shares as of December 12, 2017, and 9.6% as of the report date[95] - The number of shares issuable upon exercise of all options under the share option plan and other plans was 79,803,575 shares as of December 31, 2022, representing 2.5% of the issued share capital[95] - Total unexercised stock options as of December 31, 2022, amounted to 89,749,181 shares, with 16,870,218 options forfeited or canceled during the year due to performance issues, policy violations, or employee terminations[96][99] - The exercise price for stock options granted on December 29, 2021, was set at HKD 7.39 per share, based on the closing price of HKD 7.47 per share on the day before the grant date[96][98] - The company's stock incentive plan, adopted on December 3, 2019, aims to provide eligible participants with ownership interests and retain key employees by offering additional incentives tied to performance targets[100] - For stock options granted in 2021, 30% will vest if 2022 revenue grows by 70% or net profit increases by 45% compared to 2020, and an additional 40% will vest if 2023 revenue grows by 100% or net profit increases by 70% compared to 2020[98] - The weighted average closing price before the exercise date of stock options was HKD 8.06[99] - The company granted a total of 11,613,671 restricted shares to selected employees in 2022, with 2,101,264 shares becoming invalid under the share incentive plan[106][107] - As of December 31, 2022, the number of restricted shares available for future grants was 287,475,449, accounting for 9.1% of the company's issued share capital[103] - The share incentive plan has a remaining term of approximately 6 years and 8 months as of the report date[103] - The company issued 10,720,876 new shares under the share incentive plan, representing 0.34% of the weighted average number of ordinary shares issued[107] - The trustee subscribed for a total of 6,757,329 new shares in 2022, with no shares purchased from the secondary market[107] - The maximum number of restricted shares that can be granted to a single participant is limited to 1% of the company's issued share capital as of the adoption date[103] - The share incentive plan will remain in effect for a period of 10 years from the adoption date, subject to control changes or early termination events[103] - The closing share prices before the grant dates were HK$5.03 (December 18, 2020), HK$9.87 (September 2, 2021), HK$7.71 (June 8, 2022), and HK$8.13 (November 16, 2022)[107] - The weighted average closing share price before the vesting dates was HK$7.685[107] Customer and Supplier Information - The top five customers accounted for approximately 10.4% of the company's total sales, with the largest customer contributing about 4.2% of total sales[108] - The top five suppliers accounted for approximately 15.2% of the company's total procurement, with the largest supplier contributing about 5.8% of total procurement[108] Strategic Goals and Market Focus - The company plans to accelerate its digital, electrification, and internationalization transformation strategies to seize market opportunities[114] - The company will focus on international markets, particularly in Indonesia, India, and Africa, to establish benchmark mining projects and strengthen its presence in the logistics equipment sector[116] Risks and Dependencies - The company is highly dependent on the Chinese economy, with a significant portion of its revenue coming from sales in China[117] - Fluctuations in steel and other raw material prices pose a risk to the company's production and profitability[118] - The company relies on third-party suppliers for certain components, and any disruptions in supply could impact manufacturing schedules and profitability[119] - The company benefits from certain government incentives in China, but future changes in these incentives could adversely affect its business[120] Corporate Governance and Leadership - Wu Yuqiang, aged 58, was appointed as an independent non-executive director on November 5, 2009, and currently serves as the executive director and CFO of Kingsoft Corporation Limited, a company listed on the Hong Kong Stock Exchange[72] - Pan Zhaoguo, aged 61, was appointed as an independent non-executive director on December 18, 2015, and serves as the chairman of the Audit Committee and Remuneration Committee, as well as a member of the Nomination Committee and Strategic Investment Committee[73] - Pan Zhaoguo holds extensive experience in regulatory, corporate finance, and governance, and serves as an executive director, vice president, and company secretary of Huabao International Holdings Limited (Stock Code: 336)[74] - Hu Jiquan, aged 65, was appointed as an independent non-executive director on December 11, 2016, and is a researcher (professor) and doctoral supervisor at Wuhan University of Technology, specializing in port logistics technology and equipment[75] - Hu Jiquan has led multiple national and provincial key projects, developed port machinery series products, and holds over 20 invention and utility model patents[76] - Zhu Xiangjun, aged 39, served as the CFO and co-company secretary from September 12, 2016, until his resignation as CFO on September 12, 2022, and has 14 years of experience in financial accounting, cost control, and risk management[78] - Tang Ziwei, aged 44, was appointed as CFO on September 12, 2022, and has held various financial management roles at Sany Heavy Industry since joining in September 2008[79] - Yu Lianghui, aged 46, serves as the company secretary and has extensive experience in accounting and corporate services, holding degrees from the University of Toronto and the University of London[80] - The company's executive directors have service agreements with initial terms of three years[129] - The company has received annual independence confirmations from all independent non-executive directors[132] - The company's senior management (excluding directors) have salary ranges from HKD 0 to HKD 2,500,000[134] - The company's directors did not waive any remuneration during the fiscal year ending December 31, 2022[135] - The company's major shareholder, Sany Hong Kong, holds 2,578,228,722 shares, representing 81.51% of the voting rights[146] - Mr. Liang Wengen, the ultimate controlling shareholder, holds a 56.38% interest in Sany BVI, which in turn holds 100% of Sany Hong Kong's issued share capital, giving him an effective 81.86% voting interest in the company[147] - As of December 31, 2022, the company had issued 3,162,987,143 ordinary shares[147] - Mr. Qi Jian, a director, holds 6,746,706 shares, representing 0.21% of the issued voting shares[140] - Mr. Fu Weizhong, a director, holds 3,961,596 shares, representing 0.13% of the issued voting shares[140] - Mr. Tang Xiuguo, a director, holds 3,462,000 shares through spousal interests, representing 0.11% of the issued voting shares[140] - Mr. Xiang Wenbo, a director, directly holds 2,858,000 shares, representing 0.09% of the issued voting shares[140] - Mr. Tang Xiuguo holds 869.58 shares in Sany BVI, representing 8.70% of its issued share capital[143] - Mr. Xiang Wenbo holds 795.04 shares in Sany BVI, representing 7.95% of its issued share capital[143] Employee and Supplier Relations - Total contributions to retirement plans for the year ended December 31, 2022, amounted to RMB 60.2 million, up from RMB 38.2 million in 2020[150] - The company conducts multiple employee satisfaction surveys annually in its mainland China operations[123] - The company has adopted share option and share incentive plans to reward employees for their contributions to growth and development[123] - The company maintains long-term relationships with suppliers and ensures they meet quality and ethical standards[124] - The company is committed to providing first-class products and services to customers, with a focus on innovation and customer satisfaction[125] - The company emphasizes environmental protection, resource conservation, and compliance with environmental regulations[126] - The company's subsidiaries in mainland China operate in compliance with relevant laws and regulations[127] Agreements and Transactions - The company signed an administrative services agreement with Sany Group, with annual caps of RMB 15,976,400, RMB 21,179,600, and RMB 28,334,500 for the years ending December 31, 2023, 2024, and 2025, respectively[153] - The automation machinery sales agreement with Sany Group had an annual cap of RMB 1,024,520,000 for the year ended December 31, 2022, with actual transactions reaching RMB 701,069,000[154] - The new 2023 automation machinery sales agreement with Sany Group has annual caps of RMB 495,080,000, RMB 465,080,000, and RMB 414,690,000 for the years ending December 31, 2023, 2024, and 2025, respectively[156] - The deposit service framework agreement with Sanxiang Bank has a recommended annual cap of RMB 800,000,000 for daily deposit balances and a maximum annual interest of RMB 40,000,000 for the years ending December 31, 2021, 2022, and 2023[157] - The actual daily deposit balance under the deposit service framework agreement reached approximately RMB 570,000,000, with interest earned of approximately RMB 17,717,000 for the year ended December 31, 2022[158] - The equipment sales and leasing framework agreement with Sany Group had an annual sales cap of RMB 1,478,419,000 for the year ended December 31, 2022[159] - The financing lease and guarantee agreement under the equipment sales and leasing framework had an annual cap of RMB 1,299,559,000 for the year ended December 31, 2022, in case of lessee default[159] - Actual transaction amount for equipment sales under the sales agreement in 2022 was RMB 1,393,625,000, within the annual limit[160] - Actual transaction amount for financing guarantees and equipment repurchase under the financing lease and guarantee agreement in 2022 was RMB 1,120,999,000, within the annual limit[160] - Proposed annual caps for the 2023 sales agreement: RMB 1,802,000,000 for 2023, RMB 1,850,000,000 for 2024, and RMB 1,900,000,000 for 2025[160] - Proposed annual caps for the 2023 financing lease and guarantee agreement: RMB 1,621,800,000 for 2023, RMB 1,665,000,000 for 2024, and RMB 1,710,000,000 for 2025[161] - Annual caps for logistics agency services: RMB 25,860,000 for 2023, RMB 35,160,000 for 2024, and RMB 48,100,000 for 2025[163] - Total rental payments under the master lease agreement in 2022 amounted to RMB 8,100,000[165] - Expected value of the right-of-use asset to be

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The Group achieved approximately **RMB 15.54 billion** in revenue, a **52.4% increase**, and **RMB 1.66 billion** in net profit, up **32.2%**, driven by electrified products and international expansion Financial Highlights | Metric | 2022 | 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue (Billion RMB) | 15.54 | 10.20 | +52.4% | | Net Profit Attributable to Owners (Billion RMB) | 1.67 | 1.26 | +32.2% | | Adjusted Net Profit Attributable to Owners (Billion RMB) | 1.67 | 1.11 | +50.2% | | R&D Expenses (Billion RMB) | 0.86 | 0.75 | +14.5% | - Revenue growth was primarily driven by the successful market launch of electrified products (roadheaders, integrated mining, wide-body vehicles, logistics equipment) and significant international market expansion, with substantial growth in overseas sales of mining and logistics equipment[2](index=2&type=chunk) - Increased R&D expenses were mainly due to the company's commitment to enhancing R&D capabilities for intelligent, electrified, and international new products, along with increased compensation incentives for R&D personnel[3](index=3&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) This section provides the Group's detailed consolidated financial statements for the year ended December 31, 2022, reflecting its operating results, cash flows, and financial position [Consolidated Income Statement](index=3&type=section&id=Consolidated%20Income%20Statement) In FY2022, the Group's revenue reached **RMB 15.54 billion**, up **52.4%**, with gross profit at **RMB 3.63 billion**, up **51.8%**, and profit for the year at **RMB 1.67 billion**, up **27.5%** Consolidated Income Statement | Item (Thousand RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Revenue | 15,536,716 | 10,194,616 | | Gross Profit | 3,628,344 | 2,389,640 | | Profit Before Tax | 1,920,933 | 1,438,051 | | Profit for the Year | 1,669,074 | 1,309,158 | | Profit Attributable to Owners of the Parent | 1,664,911 | 1,259,071 | | Basic Earnings Per Share (RMB) | 0.53 | 0.40 | | Diluted Earnings Per Share (RMB) | 0.46 | 0.35 | [Consolidated Statement of Comprehensive Income](index=4&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) In FY2022, the Group's total comprehensive income reached **RMB 1.66 billion**, a **26.3% increase** from the previous year, primarily driven by profit for the year Consolidated Statement of Comprehensive Income | Item (Thousand RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Profit for the Year | 1,669,074 | 1,309,158 | | Other Comprehensive Income | (6,378) | 7,796 | | Total Comprehensive Income | 1,662,696 | 1,316,954 | [Consolidated Statement of Financial Position](index=5&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of year-end 2022, the Group's total assets increased to **RMB 24.95 billion**, up **19.9%**, with total liabilities at **RMB 14.85 billion**, up **23.7%**, and net assets at **RMB 10.10 billion**, up **15.0%** Consolidated Statement of Financial Position | Item (Thousand RMB) | December 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Total Non-current Assets | 7,762,582 | 6,568,046 | | Total Current Assets | 17,190,687 | 14,217,076 | | **Total Assets** | **24,953,269** | **20,785,122** | | Total Current Liabilities | 10,835,778 | 9,169,811 | | Total Non-current Liabilities | 4,013,717 | 2,832,163 | | **Total Liabilities** | **14,849,495** | **12,001,974** | | **Net Assets** | **10,103,774** | **8,783,148** | [Notes to the Financial Statements](index=7&type=section&id=Notes%20to%20the%20Financial%20Statements) This section details the basis of financial statement preparation, accounting policies, segment information, and the composition and changes of major accounts, with the Group primarily engaged in manufacturing and selling mining and logistics equipment [Operating Segment Information](index=10&type=section&id=Operating%20Segment%20Information) The Group's business is divided into mining and logistics equipment segments, with mining equipment revenue at **RMB 10.94 billion** (up **58.7%**) and logistics equipment revenue at **RMB 4.59 billion** (up **39.3%**) in 2022 Segment Revenue | Segment Revenue (Thousand RMB) | 2022 | 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Mining Equipment | 10,942,517 | 6,895,856 | +58.7% | | Logistics Equipment | 4,594,199 | 3,298,760 | +39.3% | Revenue by Region | Revenue by Region (Thousand RMB) | 2022 | 2021 | YoY Change | | :--- | :--- | :--- | :--- | | Mainland China | 11,314,467 | 8,099,167 | +39.7% | | Asia (Excluding Mainland China) | 2,490,272 | 1,048,098 | +137.6% | | European Union | 478,577 | 268,654 | +78.1% | | United States | 548,575 | 337,506 | +62.6% | [Revenue, Other Income and Gains](index=13&type=section&id=Revenue%2C%20Other%20Income%20and%20Gains) In 2022, the Group's total revenue from customer contracts was **RMB 15.54 billion**, with industrial product sales as the primary source, while other income and gains decreased by **18.2%** Revenue Composition | Revenue Composition (Thousand RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Sales of Industrial Products | 14,823,762 | 9,977,550 | | Installation Services | 170,081 | 42,281 | | Property Sales | 320,854 | - | | Maintenance and Other Services | 222,019 | 174,785 | | **Total Revenue from Contracts with Customers** | **15,536,716** | **10,194,616** | [Dividends](index=19&type=section&id=Dividends) The Board proposes a final dividend of **HKD 0.19** per ordinary share for the year ended December 31, 2022, an increase from **HKD 0.15** in 2021, pending shareholder approval Proposed Final Dividend | Item | 2022 | 2021 | | :--- | :--- | :--- | | Proposed Final Dividend (Per Ordinary Share) (HKD) | 0.19 | 0.15 | [Trade and Bills Receivables](index=22&type=section&id=Trade%20and%20Bills%20Receivables) As of year-end 2022, net trade receivables increased by **48.7%** to **RMB 7.31 billion**, and bills receivables grew by **44.5%** to **RMB 1.01 billion**, aligning with sales growth Trade and Bills Receivables | Item (Thousand RMB) | December 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Trade Receivables (Net) | 7,304,650 | 4,912,275 | | Bills Receivables | 1,011,765 | 700,270 | [Management Discussion and Analysis](index=29&type=section&id=Management%20Discussion%20and%20Analysis) Management reviews 2022 performance, highlighting achievements in digitalization, electrification, and internationalization strategies, with strong revenue and profit growth, and outlines future plans to deepen these strategies and lead in smart mining and port technologies [Business Review](index=29&type=section&id=Business%20Review) In 2022, the Group achieved significant results in digitalization, electrification, and internationalization strategies, including doubled intelligent roadheader sales, accelerated new energy product launches, and a **101.5%** increase in overseas revenue - Digitalization Strategy: Intelligent roadheader sales doubled, cumulative sales of intelligent shearers exceeded 100 units, and the overall operational efficiency of smart mining unmanned driving reached **88%**[57](index=57&type=chunk) - Electrification Strategy: Electric wheel mining trucks and integrated charging/swapping wide-body vehicles were successfully applied, with cumulative sales of electric port equipment exceeding **500 units**, securing a dominant market position[59](index=59&type=chunk) - Internationalization Strategy: Overseas sales revenue increased by **101.5%** year-on-year, with roadheader overseas revenue growing by **247.6%** and wide-body vehicle overseas revenue by **135.9%**, achieving industry leadership for the first time[56](index=56&type=chunk)[60](index=60&type=chunk) [Financial Review](index=31&type=section&id=Financial%20Review) In 2022, revenue grew **52.4%** to **RMB 15.54 billion**, driven by intelligent, electrified products and international sales, with gross margin stable at **23.4%**, and adjusted net profit attributable to owners increasing by **50.2%** - Revenue increased by **52.4%**, primarily driven by intelligent and electrified products and international market expansion[61](index=61&type=chunk) - Gross margin was **23.4%**, consistent with the previous year[64](index=64&type=chunk) - Sales and distribution costs increased by **64.6%**, mainly due to increased investment in international marketing resources[65](index=65&type=chunk) - R&D expenses increased by **14.5%**, primarily invested in intelligent roadheaders, smart ports, and robotics[66](index=66&type=chunk) - Adjusted profit attributable to owners of the parent (excluding the one-off gain from the disposal of SANY Xinjiang in 2021) increased by **50.2%** year-on-year[72](index=72&type=chunk) [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The Group's financial position is robust with improved operational efficiency, as net cash inflow from operations reached **RMB 1.08 billion**, up **17.5%**, and inventory and receivables turnover days decreased Cash Flow Items | Cash Flow Item (Million RMB) | 2022 | 2021 | | :--- | :--- | :--- | | Net Cash Inflow from Operating Activities | 1,084.4 | 922.8 | | Net Cash Inflow from Investing Activities | 639.2 | (296.0) | | Net Cash Outflow from Financing Activities | (376.8) | (226.7) | Turnover Days | Turnover Days | 2022 | 2021 | | :--- | :--- | :--- | | Average Inventory Turnover Days | 94.0 | 105.4 | | Trade and Bills Receivables Turnover Days | 172.7 | 188.5 | [Future Development](index=38&type=section&id=Future%20Development) The Group plans to pursue high-quality development by accelerating digitalization, electrification, and internationalization strategies, aiming to lead in smart mining, achieve unmanned port operations, empower manufacturing with robotics, and expand global market share - Adhere to and accelerate digitalization, electrification, and internationalization transformation strategies[87](index=87&type=chunk) - Mining Equipment: Become a technology leader in 'electrification, intelligence, complete sets, and green mining'[87](index=87&type=chunk) - Logistics Equipment: Achieve comprehensive reduced-manning, unmanned, and zero-emission operations for terminals and yards[87](index=87&type=chunk) - Robotics Business: Empower the transformation and upgrading of discrete manufacturing and new energy industries (lithium batteries, wind and solar power, etc)[87](index=87&type=chunk) - Internationalization Strategy: Focus on 'six core regions and ten key countries' to develop overseas electrified markets and build an international brand[87](index=87&type=chunk) [Other Information](index=40&type=section&id=Other%20Information) This section covers important company information including dividend distribution, corporate governance, securities dealings, and results review, confirming a proposed final dividend of **HKD 0.19** per share and compliance with governance codes - The Board recommends a final dividend of **HKD 0.19** per ordinary share and **HKD 0.19** per convertible preference share[88](index=88&type=chunk) - The company complied with the code provisions of the Hong Kong Stock Exchange's Corporate Governance Code for the year 2022[90](index=90&type=chunk) - The annual results announcement has been reviewed by the company's Audit Committee[95](index=95&type=chunk)

Financial Performance - The company achieved a revenue of approximately RMB 7,631.7 million in the first half of 2022, representing a year-on-year growth of 53.1%[6]. - Net profit attributable to the parent company was RMB 905.8 million, an increase of 11.7% compared to the same period last year[15]. - Adjusted net profit attributable to the parent company grew by 37.1% year-on-year[6]. - International sales revenue reached RMB 1,927.5 million, marking a significant increase of 121.9%, with international revenue accounting for 25.3% of total revenue[15]. - The company achieved a revenue of RMB 7,631.7 million for the six months ended June 30, 2022, representing a year-on-year growth of 53.1%[19]. - The company recorded a pre-tax profit margin of approximately 13.4%, a decrease of 5.6 percentage points from 19.0% for the same period in 2021, mainly due to a one-time gain from the sale of a subsidiary in 2021[32]. - The company reported a significant increase in revenue, achieving a sales figure of 2.5 billion in the last quarter, representing a 15% year-over-year growth[87]. - For the six months ended June 30, 2022, the group recorded an adjusted profit attributable to equity holders of approximately RMB 905.8 million, an increase of about 37.1% compared to approximately RMB 660.6 million for the same period in 2021[35]. - The company reported a total comprehensive income of RMB 894,771 thousand for the six months ended June 30, 2022, compared to RMB 837,488 thousand in 2021[96]. - The company reported a net profit of RMB 912,616 thousand, an increase of 10.1% compared to RMB 828,946 thousand in 2021[95]. Product Development and Innovation - Development of new products includes 70T-100T hybrid and fully electric wide-body trucks, as well as three models of electric wheel mining trucks[15]. - The company aims to establish a leading brand in electric mining trucks and port machinery, with a focus on electric upgrades and customized solutions for clients[15]. - The company developed 27 models of intelligent tunneling machines and 7 models of unmanned mining vehicles, enhancing its product offerings in the mining equipment sector[17]. - The automation usage rate for the intelligent tunneling machines reached 72%, demonstrating significant advancements in technology[21]. - New product development is underway, with the launch of three innovative machinery models expected by Q3 2023[88]. - The company has invested 150 million in R&D for advanced manufacturing technologies over the past year[87]. - A new partnership with a leading technology firm aims to integrate AI solutions into product offerings, enhancing operational efficiency[88]. International Expansion - The company plans to enhance its international presence by adding 30 new agents and focusing on 10 key countries in six core regions[15]. - The company aims to expand its market presence in South America, Southeast Asia, and Europe, continuing its internationalization strategy[19]. - The company has made breakthroughs in the international market, with mining equipment international sales increasing by 130.9%[19]. Financial Position and Cash Flow - Cash flow from operating activities decreased by 88.1% to RMB 99.2 million, indicating a significant decline[6]. - The gross profit margin was reported at 23.8%, down from 24.4% in the previous year, reflecting a decrease of 0.6 percentage points[7]. - The company's financing costs increased by 31.3% to approximately RMB 72.6 million due to an increase in bank borrowings[31]. - As of June 30, 2022, total current assets amounted to approximately RMB 16,343.0 million, up from RMB 14,217.1 million as of December 31, 2021[35]. - The total liabilities as of June 30, 2022, were approximately RMB 13,862.9 million, compared to RMB 12,002.0 million as of December 31, 2021[35]. - The asset-liability ratio was approximately 52.9% as of June 30, 2022, compared to 51.4% as of December 31, 2021[35]. - The group’s cash and cash equivalents totaled approximately RMB 1,771.0 million as of June 30, 2022[38]. - The net cash inflow from operating activities for the six months ended June 30, 2022, was approximately RMB 99.2 million, a decrease from RMB 835.9 million for the same period in 2021[38]. Corporate Governance and Management - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors as of June 30, 2022[78]. - The audit committee, composed of three independent non-executive directors, reviewed the unaudited interim financial statements for the six months ended June 30, 2022[79]. - The remuneration committee is responsible for determining the compensation and benefits of senior executives and management, ensuring independent judgment in its decisions[80]. - The company has adopted corporate governance practices to ensure transparency and accountability to shareholders[84]. - The company has committed to continuous improvement of its corporate governance practices to maximize shareholder value[84]. - The company has a strong management team with extensive experience in corporate governance and financial management, including independent directors with backgrounds in accounting and law[91]. Shareholder Information and Stock Options - The stock option plan adopted on February 16, 2013, allows for the issuance of up to 50,000,000 shares, representing approximately 1.61% of the issued voting shares as of the adoption date and 1.58% as of June 30, 2022[57]. - The authorized limit for the stock option plan was updated to 304,102,500 shares on December 12, 2017, equivalent to 10% of the issued voting shares at that time and 9.62% as of June 30, 2022[57]. - A total of 108,726,200 options were unexercised as of January 1, 2022, with 90,627,681 options remaining unexercised as of June 30, 2022[60]. - The exercise price for options granted on December 29, 2021, was set at HKD 7.39, with a closing price of HKD 7.47 on the day prior to the grant[65]. - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the previous year[77]. Sustainability and Social Responsibility - The company actively responds to the national "dual carbon" policy, focusing on green upgrades for mining and port customers, and has developed clean technology products and solutions[43]. - The pure water hydraulic support in the mining equipment segment achieved zero pollution of underground water resources, contributing to green and efficient mining practices[43]. - The logistics equipment segment upgraded remote-controlled shore bridges to promote unmanned operations in ports, enhancing operational efficiency and working conditions for dock workers[43]. - The management team emphasizes a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025[88]. - The company is committed to social responsibility and actively participates in local economic and welfare initiatives[43]. Employee and Operational Metrics - The group employed a total of 5,336 employees as of June 30, 2022, an increase from 4,995 employees as of December 31, 2021[41]. - The group’s employee benefits expenses increased to RMB 786,573,000, up from RMB 522,597,000, indicating a 50.6% rise year-over-year[116]. - The company has established several lighthouse factories to improve production automation and meet the growing order demand[24]. - The company plans to enhance its production capacity by 20% through optimization and upgrades in automation processes by 2023[17].

Financial Performance - The unaudited consolidated revenue for the three months ended March 31, 2022, was approximately RMB 4,115,646,000, an increase of about 70.7% compared to RMB 2,411,390,000 in the same period of 2021[2] - The unaudited consolidated gross profit for the same period was approximately RMB 869,789,000, up approximately 39.9% from RMB 621,840,000 in 2021[2] - The unaudited net profit for the period was approximately RMB 445,003,000, representing a 30.9% increase from RMB 340,040,000 in the same period of 2021[2] - The profit attributable to the owners of the parent company was approximately RMB 444,063,000, an increase of about 31.2% compared to RMB 338,569,000 in 2021[3] Revenue Drivers - The increase in revenue and profit was primarily driven by high demand in the coal industry, growth in global shipping trade, and accelerated construction of smart mines and ports[4] - The robotics business achieved rapid growth with a revenue increase of approximately 105%, focusing on discrete manufacturing and new energy sectors[5] - International sales revenue for wide-body trucks and port machinery significantly increased due to the implementation of the internationalization strategy[5] Operational Efficiency - The company is continuously improving operational efficiency and implementing cost control measures, although profit growth was lower than revenue growth due to changes in product structure and rising freight costs[5] Investment in Development - The company is investing in new product development, including smart tunneling machines and electric vehicles, which are gaining strong market demand[5] Financial Data Disclaimer - The financial data presented is based on preliminary assessments and has not been audited or reviewed by the company's auditors[5]