CMB International: Maintains Sany International (00631) "Buy" rating, target price raised to HKD 20.6

LootboxPhobia · 2026-02-20T08:56:41+00:00

CMB International expects Sany International's mining truck business to contribute 15% to 16% of total revenue between 2026 and 2027, while the large port machinery business will also see revenue growth and margin improvement. The bank has raised its earnings forecasts for 2026 and 2027 and increased the target price to HKD 20.6, maintaining a "Buy" rating.

LootboxPhobia

2026-02-20 08:56:41

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CITIC Securities APP has learned that China Merchants Securities released a research report stating that they believe Sany International’s (00631) mining truck business will continue to make progress. They expect this business to contribute 15% to 16% of total revenue between 2026 and 2027, but high-value and high-margin large mining trucks are expected to maintain strong growth. Additionally, the bank believes that revenue growth and margin improvement in the large port machinery business are highly certain due to order backlog exceeding 12 months. The bank has raised its profit forecasts for 2026 and 2027 by 3% and 9%, respectively, and has increased the target price from HKD 8.9 to HKD 20.6, maintaining a “Buy” rating.

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