The Zhitong Finance App learned that Sany International (00631) fell nearly 16% in early trading. As of press release, it decreased by 15.85% to HK$6.53, with a turnover of HK$106 million.

According to the news, Sany International announced the results for the first three quarters. The group achieved comprehensive revenue of 22.171 billion yuan, an increase of 22.2% over the previous year; the parent company owners should account for profit of 1,664 billion yuan, a decrease of 2.6% over the previous year. The board of directors believes that the decline in net profit during the nine-month period was mainly due to the increase in the prices of silicon wafers, silicon materials and cell raw materials, which led to a decline in the overall gross margin of emerging industry products, and the reduction in subsidies received by the Group.

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