Gelonghui, July 1 | Tianfeng Securities recently reported that the business performance of Sany Heavy Industries (600031.SH) is limited by the industry cycle, but it continues to achieve high-quality development through globalization, digital intelligence, and low carbon, and crosses the industry cycle with excellent manufacturing. Furthermore, the company has issued employee stock ownership plans for many years, which deeply bind employees' interests while demonstrating confidence in future development. With an overseas market space of 700 billion yuan in the next few years, the two markets of North America and Europe will account for about half of the share, and there is still plenty of room for domestic companies to expand in the future; by comparing the financial indicators of leading companies in the same industry, we can see that the company is leading the industry in the overseas process. The bank believes that the construction machinery industry is expected to bottom up and enter a new round of upward channels; at the same time, the high-quality development of the company's “three modernizations” strategy of globalization, digital intelligence, and low carbon will help future performance. Continue to be optimistic and maintain a “buy” rating.