Changes in Hong Kong stocks | Sany International (00631) rose nearly 9% in early trading, management reaffirms the target of overseas revenue of the mining equipment business to reach 8 billion yuan

The Zhitong Finance App learned that Sany International (00631) rose nearly 9% in early trading. As of press release, it rose 7.80% to HK$9.74, with a turnover of HK$775.37,500.

According to the news, highlights of the investor conference held after Sany International's results for the first half of the year showed that the mining equipment business is growing strongly overseas. Management reiterated the target of 8 billion yuan in overseas revenue from the mining equipment business, and currently has orders of 3.4 billion yuan. In-hand orders for port machinery reached 7.9 billion yuan, which is higher than the level at the beginning of the year. About 80% of production capacity has already been reserved in 2027. Furthermore, the company's management confirmed that it will exit the PV business in an orderly manner.

UBS released a research report saying that based on the results and order situation for the first half of the year, Sany International raised its 2026-2028 earnings forecast by 3% to 16% to reflect stronger profits from mining trucks and port machinery than expected, but this was partially offset by lower assumptions for coal and emerging businesses. The target price-earnings ratio will remain 12 times unchanged next year, and the target price will be raised from HK$9.45 to HK$10.8, maintaining the “buy” rating.