Core Viewpoint - SANY Heavy Industry is set to launch an IPO from October 20 to October 23, 2025, offering 580 million H-shares, with 10% allocated for Hong Kong and 90% for international sales [2] Group 1: IPO Details - The price range for the shares is set between HKD 20.3 and HKD 21.3 per share, with the expected listing date on the Hong Kong Stock Exchange being October 28 [2] - The net proceeds from the offering are estimated to be approximately HKD 11.926 billion [2] Group 2: Company Overview - SANY Heavy Industry is a leading global player in the engineering machinery sector, focusing on products such as excavators, concrete machinery, and cranes [2] - The company ranks as the third largest globally and the largest in China within the engineering machinery industry [2] Group 3: Use of Proceeds - 45% of the proceeds will be used to expand the global sales and service network [2] - 25% will enhance research and development capabilities [2] - 20% will be allocated to expand overseas manufacturing capacity [2] - 10% will be used for working capital [2] Group 4: Investment Support - The company has secured cornerstone investments totaling approximately USD 758 million from several well-known institutions, including Temasek and BlackRock [2]

成立于1994年，集团是创新驱动的全球工程机械行业领军企业。集团专注于挖掘机械、混凝土机械、起 重机械、桩工机械及路面机械等全系列工程机械产品的研发、制造、销售及服务。按2020年至2024年核 心工程机械产品的累计收入计算，集团是全球第三大及中国最大的工程机械企业。于往绩记录期间，集 团的产品已销往全球150余个国家和地区，截至2025年4月30日止四个月，集团来自海外市场的收入占集 团总收入的57.4%。集团的产品备受全球客户信赖，凭藉先进的技术实力与性能，广泛参与多项全球标 志性项目的施工建设，如港珠澳大桥、伦敦奥运场馆、迪拜塔、北京奥运场馆等。 格隆汇10月20日丨三一重工(06031.HK)发布公告，公司拟全球发售约5.80亿股H股(视乎发售量调整权以 及超额配股权行使与否而定)，中国香港发售股份5804.26万股，国际发售股份约5.22亿股；2025年10月 20日至10月23日招股，预期定价日为10月24日；发售价将为每股发售股份20.30-21.30港元，每手买卖单 位为200股，中信证券为独家保荐人；预期股份将于2025年10月28日开始在联交所买卖。 假设每股发售股份的发售价为20.80港 ...

Group 1 - The company SANY Heavy Industry (06031) plans to conduct an initial public offering (IPO) from October 20 to October 23, 2025, with a global offering of 580 million H-shares [1] - Approximately 10% of the shares will be offered in Hong Kong, while 90% will be available for international investors [1] - The proposed price range for the shares is between 20.3 and 21.3 Hong Kong dollars, with a minimum lot size of 200 shares [1] Group 2 - Established in 1994, the company is a leading player in the global engineering machinery industry driven by innovation [1] - The company focuses on the research, development, manufacturing, sales, and service of a full range of engineering machinery products, including excavators, concrete machinery, cranes, pile machinery, and road machinery [1]

Group 1: Company Announcements - Silan Microelectronics plans to jointly invest 20 billion yuan in the construction of a 12-inch high-end analog integrated circuit chip manufacturing production line project in Xiamen, with a planned capacity of 45,000 wafers per month and an annual production capacity of 540,000 wafers after completion [3][6] - China Life Insurance expects a net profit attributable to shareholders of the parent company to be approximately 156.79 billion to 177.69 billion yuan for the first three quarters of 2025, representing a year-on-year growth of about 50% to 70% [3][6] - Sany Heavy Industry announced a global issuance of approximately 580 million H shares, with an expected issue price not exceeding 21.30 HKD per share and not lower than 20.30 HKD per share [3][6] Group 2: Industry Insights - The 138th Canton Fair reported that approximately 157,900 overseas buyers attended the event, representing a 6.3% increase compared to the previous period [3] - The ice and snow industry in China is projected to exceed 1 trillion yuan by 2025, with a rapid increase in ice and snow consumption. The number of indoor ski resorts is expected to grow to 79 by April 2025, marking a 33.9% increase from the previous year [3] - Recent data indicates that small and medium-sized banks in China have entered a new round of interest rate cuts, with Shanghai Huari Bank reducing its three-year fixed deposit rate from 2.3% to 2.15% [3]

Core Viewpoint - SANY Heavy Industry (600031) is launching an IPO for 580 million H-shares, with a price range of HKD 20.3 to 21.3, aiming to raise approximately HKD 11.926 billion for global expansion and R&D enhancement [1][3]. Group 1: Company Overview - Founded in 1994, SANY Heavy Industry is a leading global player in the engineering machinery sector, focusing on the R&D, manufacturing, sales, and service of a full range of machinery products [1]. - The company ranks as the third largest globally and the largest in China based on cumulative revenue from core engineering machinery products from 2020 to 2024 [1]. - SANY's products are sold in over 150 countries, with 57.4% of total revenue coming from international markets as of April 30, 2025 [1]. Group 2: Financial Performance - The company has demonstrated strong financial resilience, with revenues of RMB 80.839 billion, RMB 74.019 billion, RMB 78.383 billion, and RMB 29.426 billion for the years 2022, 2023, 2024, and the first four months of 2025, respectively [4]. - Gross margin improved from 22.6% in 2022 to 26.4% in 2023, reaching 27.1% in the first four months of 2025 [4]. - Net margin increased from 5.5% in 2022 to 6.2% in 2023, further rising to 11.8% in the first four months of 2025 [4]. Group 3: Use of Proceeds - Approximately 45% of the net proceeds from the IPO will be allocated to expanding the global sales and service network [3]. - About 25% will enhance R&D capabilities, focusing on smart and low-carbon technologies [3]. - 20% will be used to expand overseas manufacturing capacity and optimize production efficiency, while 10% will support working capital and general corporate purposes [3].

格隆汇10月20日丨三一重工(06031.HK)发布公告，公司拟全球发售约5.80亿股H股(视乎发售量调整权以 及超额配股权行使与否而定)，中国香港发售股份5804.26万股，国际发售股份约5.22亿股；2025年10月 20日至10月23日招股，预期定价日为10月24日；发售价将为每股发售股份20.30-21.30港元，每手买卖单 位为200股，中信证券为独家保荐人；预期股份将于2025年10月28日开始在联交所买卖。 成立于1994年，集团是创新驱动的全球工程机械行业领军企业。集团专注于挖掘机械、混凝土机械、起 重机械、桩工机械及路面机械等全系列工程机械产品的研发、制造、销售及服务。按2020年至2024年核 心工程机械产品的累计收入计算，集团是全球第三大及中国最大的工程机械企业。于往绩记录期间，集 团的产品已销往全球150余个国家和地区，截至2025年4月30日止四个月，集团来自海外市场的收入占集 团总收入的57.4%。集团的产品备受全球客户信赖，凭藉先进的技术实力与性能，广泛参与多项全球标 志性项目的施工建设，如港珠澳大桥、伦敦奥运场馆、迪拜塔、北京奥运场馆等。 集团已订立基石投资协议，据此，基石投资 ...

Core Viewpoint - SANY Heavy Industry plans to launch an IPO from October 20 to October 23, 2025, offering 580 million H-shares globally, with a price range of HKD 20.3 to 21.3 per share [1] Group 1: Company Overview - Established in 1994, SANY Heavy Industry is a leading global player in the engineering machinery sector, focusing on the R&D, manufacturing, sales, and service of a full range of machinery products [1] - The company is the third largest globally and the largest in China in terms of cumulative revenue from core engineering machinery products from 2020 to 2024 [1] - SANY's products are sold in over 150 countries and regions, with 57.4% of total revenue coming from overseas markets as of April 30, 2025 [1] Group 2: Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the four months ending April 30, 2025, were RMB 80.839 billion, RMB 74.019 billion, RMB 78.383 billion, and RMB 29.426 billion, respectively [4] - Gross margin improved from 22.6% in 2022 to 26.4% in 2023, reaching 26.7% in 2024, and further increasing to 27.1% in the four months ending April 30, 2025 [4] - Net margin rose from 5.5% in 2022 to 6.2% in 2023, further increasing to 7.8% in 2024, and reaching 11.8% in the four months ending April 30, 2025 [4] Group 3: Use of Proceeds - Approximately 45% of the net proceeds from the global offering will be used to enhance the global sales and service network, with specific allocations for expanding sales (18%), service networks (15%), and marketing (12%) [3] - About 25% of the net proceeds will be allocated to enhancing R&D capabilities, including 15% for developing new products featuring digital and low-carbon technologies and 10% for establishing R&D centers in Europe and Asia-Pacific [3] - 20% of the net proceeds will be used to expand overseas manufacturing capacity and optimize production efficiency, while 10% will be allocated for working capital and general corporate purposes [3]

格隆汇10月20日丨三一重工(06031.HK)发布公告，公司拟全球发售约5.80亿股H股(视乎发售量调整权以 及超额配股权行使与否而定)，中国香港发售股份5804.26万股，国际发售股份约5.22亿股；2025年10月 20日至10月23日招股，预期定价日为10月24日；发售价将为每股发售股份20.30-21.30港元，每手买卖单 位为200股，中信证券为独家保荐人；预期股份将于2025年10月28日开始在联交所买卖。 ...

每经AI快讯，10月20日，三一重工（600031）在港交所公告称，香港IPO价格定在每股21.3港元。 ...

三一重工香港IPO价格定在每股21.3港元。 ...