The Zhitong Finance App learned that CMB International released a research report stating that it reiterated the “buy” rating of Sany International (00631), with a target price of HK$13.2. The company has set an aggressive revenue target and hopes to achieve revenue of 3 billion yuan by 2025. As the bank is still awaiting more operating data to evaluate, its model does not yet reflect this potential performance contribution.

According to the report, the company is expanding into the lithium battery equipment manufacturing sector, and the bank believes this move will be an important growth engine for Sany International. The bank believes that with (1) existing partnerships with lithium battery manufacturers and (2) component manufacturing capabilities, Sany International will help the company break down barriers in the lithium battery equipment industry and successfully gain market share in the next few years.