
Core Viewpoint - Sany Heavy Industry is actively repurchasing shares, demonstrating confidence in its future development and commitment to employee incentives through continuous employee stock ownership plans [2][11]. Group 1: Share Repurchase Plan - As of July 31, Sany Heavy Industry has spent 1.355 billion yuan on share repurchases, exceeding the lower limit of its repurchase plan [2][8]. - The repurchase plan, announced in April 2025, aims to use between 1 billion and 2 billion yuan for buying back shares for employee stock ownership plans or equity incentives [2][3][6]. - The company has been implementing employee stock ownership plans for six consecutive years since 2020 [10]. Group 2: Financial Performance - Sany Heavy Industry reported a net profit of 4.527 billion yuan in 2023 and 5.975 billion yuan in 2024, with year-on-year growth rates of 5.53% and 31.98%, respectively [16]. - Cumulative net profit since its A-share listing in 2003 amounts to approximately 94.3 billion yuan, with total cash dividends distributed around 29.3 billion yuan and an average dividend payout ratio of about 31% [16]. - The company's asset-liability ratio stood at 50.63% as of the end of the first quarter of 2025, indicating stable financial operations [16]. Group 3: Market Position and Strategy - Sany Heavy Industry is a leading player in the construction machinery industry, with products sold in over 180 countries and regions [2][12]. - In 2024, revenue from international markets reached 48.513 billion yuan, accounting for approximately 62% of total revenue [12][14]. - The company is advancing its plans for a Hong Kong stock listing to enhance its international market presence [14]. Group 4: Research and Development - The company has invested a total of 27.112 billion yuan in research and development from 2021 to 2024 [13]. - Sany Heavy Industry has established multiple R&D centers domestically and internationally, focusing on cutting-edge technology in the construction machinery sector [12][13].