HK Stock Market Move | SANY INT'L (00631) plunges over 9% after earnings release, with net profit in the first quarter decreasing nearly 20% year-on-year.

SANY INT'L (00631) plummeted over 9% after the earnings report, dropping 9.42% to 9.13 Hong Kong dollars with a turnover of 38,853.9 million Hong Kong dollars as of press time. On the news front, on the evening of May 20, SANY INT'L released its first quarter earnings for the three months ending March 31, 2026. The group's revenue reached 6.651 billion yuan, a year-on-year increase of 13.2%; the net profit attributable to the owners of the parent company was 509 million yuan, a decrease of 19.8% year-on-year. The company pointed out that the decrease in net profit was mainly due to the increased proportion of product revenue with slightly lower gross profit margins in the logistics equipment business, leading to a decrease in overall product gross profit margins; and during the period, the rising prices of silicon wafers, silicon materials, and core materials affected the gross profit margins of products in the emerging industries.