New stock news | Zoomlion Heavy Industry submits an application to the Hong Kong Stock Exchange again as a mining equipment and aerial work equipment company.

According to the disclosure by the Hong Kong Stock Exchange on May 20, Sany Group Co., Ltd. (referred to as Sany Group) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and CISI FIN as joint sponsors. The company had previously submitted an application to the Hong Kong Stock Exchange on November 6, 2025. Company Overview The prospectus shows that Sany Group is an international mining equipment and aerial work equipment enterprise, with research and development centers located in China, Japan, and Mexico, as well as manufacturing facilities in China and Mexico. As of the last practicable date, the company's products and solutions are sold in over 100 countries and regions globally, with a significant presence in major markets in Asia, Europe, Africa, and the Americas. The company's products and solutions include mining equipment covering mining transportation equipment, mining excavators, and other mining auxiliary equipment. These products cover the full chain of scenarios for transportation, mining, and auxiliary operations, providing a full range of solutions for open-pit mining scenes; aerial work equipment including boom lifts and scissor lifts, providing a full range of equipment solutions for construction, decoration, industrial maintenance, etc.; and material handling machinery including telescopic boom forklifts and forklift products, providing low-carbon, high-efficiency solutions for industrial logistics. Post-market services and others include supply of accessories, product maintenance, repair, leasing, and construction support. Revenue breakdown by business segment: Construction machinery equipment market is one of the core supporting industries for global infrastructure construction, urbanization process, and industrial production. According to Frost & Sullivan data, the global construction machinery equipment market is expected to reach RMB 24,839 billion by 2025, and is further expected to grow to RMB 31,353 billion by 2030, with a compound annual growth rate of approximately 5.2% from 2025 to 2030. The industry operated by the company, namely the mining equipment, aerial work equipment, and material handling machinery, is a technology-intensive sub-sector that is currently experiencing rapid growth. Financial Data Revenue: For the financial years 2023, 2024, and 2025, the company's revenue was approximately RMB 9.897 billion, RMB 12.028 billion, and RMB 10.148 billion, respectively. Profit: For the financial years 2023, 2024, and 2025, the company's annual profits were approximately RMB 0.974 billion, RMB 1.0 billion, and RMB 1.04 billion, respectively. Gross profit margin: For the financial years 2023, 2024, and 2025, the company's gross profit margin was 18.8%, 20.1%, and 23.5%, respectively. Industry Overview Driven by continuous growth in infrastructure investment, manufacturing upgrades, and the acceleration of low-emission and intelligent equipment, the global construction machinery equipment market reached RMB 1,911.2 billion in 2025, with a compound annual growth rate of approximately 4.2% starting from 2020. It is expected to further increase to RMB 2,487.2 billion by 2030, with a compound annual growth rate of approximately 5.9% from 2026 to 2030. Among the various construction machinery equipment, mining equipment, aerial work equipment, and material handling machinery play crucial roles. These categories of machinery equipment play irreplaceable roles in their respective fields, broadly supporting various operational scenarios and promoting the continuous development of industrialization. The main categories of mining equipment include transport vehicles, excavators, drilling rigs, and crushing machinery, specialized for mining, transport, and processing of minerals. The key features of these machines are high load capacity and durability, capable of withstanding adverse working conditions under large-scale operations. Measured by revenue, the global mining industry has grown from RMB 4,153.8 billion in 2020 to RMB 5,200.9 billion in 2025, with a compound annual growth rate of 4.6% from 2020 to 2025. It is estimated to reach RMB 5,751.2 billion by 2030, with a compound annual growth rate of 2.0% from 2025 to 2030. Against this backdrop, as material extraction intensity and transportation turnover continue to increase, demand for mining equipment will see synchronous growth. The global mining equipment market is showing robust growth, mainly driven by the continuous rise in demand for precious metals and base metals, as well as the increasing mining activities in emerging markets. In the global market, China and North America are the two largest regions in terms of mining equipment demand. In China, the demand for mining equipment is mainly driven by abundant mineral resources, including coal, rare earths, and non-ferrous metals, among others. As one of the most dynamic emerging aerial work equipment markets globally, China's development is mainly driven by stricter regulations on aerial work, accelerated urban renewal processes, continuous expansion of manufacturing and logistics facilities, and continuous improvement of urban-level public infrastructure. With national and regional rental companies accelerating equipment deployment and network expansion, the rental penetration rate is steadily increasing. At the same time, electrification has become standard in scissor lift products and is rapidly extending to boom lift aerial work equipment products to meet zero-emission and low-noise operation requirements. The Chinese aerial work equipment market is gradually transitioning from a high-growth phase to a more saturated and competitive phase, while the global market still faces the influence of regional demand differentiation and price pressure. Board of Directors Information The board of directors consists of ten directors, including two executive directors, four non-executive directors, and four independent non-executive directors. The directors' term is three years, and they are eligible for reappointment upon the expiration of their term. Shareholding Structure As of the last practicable date, Sany Group is directly owned by Mr. Wang, holding 34.61% of the shares, and indirectly holds 60.26% of the shares through four employee shareholding platforms controlled as the sole general partner (Sany Yi Hao, Sany Er Hao, Sany San Hao, and Sany Si Hao); and independent third party Mr. Wen Degang holds 5.14% of the shares. As of the last practicable date, the employee incentive platform Xin Yi Lian Yi Hao is owned approximately 3.22% by Mr. Yu Mengsheng as the sole general partner, and approximately 96.78% is owned by 49 individuals as limited partners. As of the last practicable date, except for executive director Mr. Zhang Kaiying, all of them are independent third parties. Except for Mr. Zhang Kaiying holding approximately 23.68% partnership interest of Xin Yi Lian Yi Hao, other partners do not hold more than 10% of the partnership interest. As of the last practicable date, the employee incentive platform Xin Yi Lian Er Hao is owned approximately 44.22% by Mr. Yu Mengsheng as the sole general partner, and approximately 55.78% is owned by 47 individuals as limited partners. As of the last practicable date, except for executive director Mr. Wang Yinsu (holding approximately 2.72% partnership interest in Xin Yi Lian Er Hao), all of them are independent third parties. Except for Mr. Wang Yinsu, all partners of Xin Yi Lian Er are individuals as limited partners who do not hold more than 10% of the partnership interest. As of the last practicable date, the employee incentive platform Xin Yi Lian San Hao is owned approximately 14.85% by Mr. Yu Mengsheng as the sole general partner, and approximately 85.15% is owned by 49 individuals as limited partners, all of whom are independent third parties as of the last practicable date, except for Mr. Yu. Other partners of Xin Yi Lian San Hao do not hold more than 10% of the partnership interest. As of the last practicable date, the employee incentive platform Xin Yi Lian Si Hao is owned approximately 12.69% by Mr. Yu Mengsheng as the sole general partner, and approximately 87.31% is owned by 46 current employees of the company as limited partners, all of whom are independent third parties as of the last practicable date, except for Mr. Yu, Mr. Huo Zongde, and Mr. Song Yuxing. Mr. Huo Zongde and Mr. Song Yuxing are current employees and independent third parties who each hold 10.07% of the partnership interest in Xin Yi Lian Si Hao. Intermediary Team Joint Sponsors: China International Finance Hong Kong Securities Limited, CISI FIN Financing Limited Company Legal Counsel: Regarding Hong Kong and U.S. law: Gallant Lawyer; Regarding Chinese law (including Chinese data compliance matters): Beijing Tongshang Law Firm; Regarding U.S. data compliance matters: Baker & Hostetler LLP; Regarding Dutch data compliance matters: Liance Law Cooperative UA; Regarding Hong Kong data compliance matters: Chen Huang Ye Law Firm; Regarding Mexican data compliance matters: Dentons Lpez Velarde Monterrey, S.C.; Regarding Zambian data compliance matters: Mbalashi C & Associates; Regarding international sanctions law: Hogan Lovells International Law Firm Joint Sponsors' Legal Counsel: Regarding Hong Kong and U.S. law: Rui Sheng International Law Firm; Regarding Chinese law: Beijing Deheng Law Firm Industry Advisor: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisor: SOMERLEY CAP Limited