The Zhitong Finance App learned that Sany International (00631) fell by more than 5%, and its stock price fell by more than 10% over 4 trading days. As of press release, it decreased by 5.16% to HK$6.06, with a turnover of HK$39.975 million.

According to the news, Sany International's consolidated revenue for the first quarter was about RMB 5.13 billion, down about 5.7% year on year; gross profit was about RMB 1,277.5 billion, down about 4.0% year on year; profit attributable to parent company owners was about RMB 516 million, down about 20.7% year on year. According to CMB International, due to weakness in mining equipment and emerging industries offsetting the growth of the logistics equipment business, Sany International's net profit for the first quarter fell 21% year-on-year, less than the 15% decline expected by the bank.

In addition, Societe Generale Securities said that the Group's petroleum equipment business was acquired in 2023, but the business fell short of expectations in the first quarter of 2024. There were losses in terms of merger, and future business development prospects remain to be seen. Due to the sharp drop in prices in various parts of the industry, the company's equipment sales and module sales are expected to be difficult to bring profit in the short term, while the EPC business requires centralized delivery and revenue confirmation in the second half of the year. The hydrogen energy equipment and lithium battery equipment business is currently small, and the impact on short-term revenue and performance is not obvious.