The Zhitong Finance App learned that Sany International (00631) rose after opening flat today, with an intraday high of HK$7.185. As of press release, it had risen 6.17% to HK$7.145, with a turnover of HK$122 million.
According to the news, CMB International previously published a report stating that Sany International's stock price plummeted after the release of the third quarter results, and the market was mainly concerned about the narrowing of gross margin and a slowdown in the growth rate of mining card sales (48% year-on-year increase in the third quarter, and 1.6 times year-on-year increase in the second quarter). The bank believes that the reason for this correction is excessive is that the narrowing of profit margins is mainly due to changes in revenue structure rather than weakening pricing capacity; sales growth prospects for overseas mining cards are still stable. The forecast sales target (tax included) for 2027 is 10 billion yuan, and the forecast for 2026 is 8 billion yuan.
In terms of performance, Sany International achieved comprehensive revenue of 22.171 billion yuan in the first three quarters, an increase of 22.2% over the previous year; profit attributable to parent company owners was 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 rising prices of silicon wafers, silicon and cell raw materials, which led to a decline in the overall gross margin of products in emerging industries and a reduction in subsidies received by the Group.