CICC has released a report for the first time covering Sany International (00631.HK), giving it an "outperform" rating with a target price of 5.7 yuan.

The bank pointed out that Sany International's domestic coal mining business has a solid foundation, and the overseas mining truck business has driven additional growth. The global market share of the Port Machinery Division is stable, and the electrification trend of the Terminal Machinery Division is driving business growth. The oil and gas equipment and emerging business equipment have strong technical research and development, extensive sales channels, and high-quality after-sales service to create a virtuous cycle, continuously breaking through the ceiling. The bank expects Sany International's earnings per share to be 0.63 yuan and 0.7 yuan respectively in 2024 and 2025.