The Zhitong Finance App learned that CCB International released a research report stating that it maintained the Sany International (00631) “outperform the market” rating and raised the target price by 13.6% from HK$10.3 to HK$11.7, mainly based on predicting a price-earnings ratio of 16 times and taking into account the potential impact of injecting Sany Oil on the profit of each share preparing for the exam. The bank believes that the recent decline in the company's stock price has nothing to do with specific business fund factors, mainly poor market performance, and is still optimistic about Sany International's business and profit prospects.

According to the report, Sany International's backlog of orders for the first fiscal quarter ending 2023 was 10 billion yuan, a sharp increase from 6 billion yuan in the same period last year. The bank believes that as sales continue to increase, and although the group is committed to continuing R&D investment, the ratio of R&D expenses to sales may narrow, which will expand the net profit margin for 2023-24.