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]
大行评级丨里昂：首予三一国际目标价11港元及“跑赢大市”评级