SANY(SH:600031) Sou Hu Cai Jing·2025-07-05 16:15Core Viewpoint - The China Securities Regulatory Commission (CSRC) has disclosed supplementary material requirements for overseas listing applications, involving five companies, including SANY Heavy Industry, which aims to enhance its global strategy and governance transparency through a listing on the Hong Kong Stock Exchange [1][9]. Company Overview - SANY Heavy Industry, founded in 1994, is a leading engineering machinery manufacturer in China, with its history tracing back to 1989. The company was established as a limited liability company focused on engineering machinery manufacturing [3][5]. - The company is controlled by SANY Group and its founders, holding approximately 33.73% of the total share capital [3][5]. Financial Performance - SANY Heavy Industry reported revenues of approximately RMB 808.39 billion, RMB 740.19 billion, and RMB 783.83 billion for the years 2022, 2023, and 2024, respectively. The gross profits for the same years were about RMB 182.96 billion, RMB 195.76 billion, and RMB 209.03 billion, with net profits of RMB 44.33 billion, RMB 46.06 billion, and RMB 60.93 billion [7][8]. - The company's revenue primarily comes from excavators, concrete machinery, and cranes, with excavator revenue accounting for 44.2%, 37.3%, and 38.8% of total revenue in the respective years [8]. Listing Plans - SANY Heavy Industry submitted its prospectus to the Hong Kong Stock Exchange on May 22, 2023, intending to raise funds to develop its global sales and service network, enhance brand recognition, and expand overseas manufacturing capabilities [9]. - The CSRC has requested SANY Heavy Industry to clarify discrepancies in the identification of its controlling shareholders and provide a conclusive opinion regarding the Hunan SANY Industrial Vocational and Technical College, which was established in 2010 [10].