Sany Heavy Industry plans to raise $1.5 billion in Hong Kong IPO

Sany Heavy Industry Co., Ltd. (Sany Heavy Industry) announced that in order to further promote its globalization strategy and strengthen its connection with overseas capital markets, the company is planning to issue H shares on the Hong Kong Stock Exchange. Sany Heavy Industry said that the listing of H shares will not change the company's controlling shareholder and actual controller. Sany Heavy Industry's third-quarter report released on October 31, 2024 showed that the company achieved operating income of 57.891 billion yuan in the first three quarters, a year-on-year increase of 4.22%; net profit of 4.868 billion yuan, a year-on-year increase of 19.66%.