Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul><li>A slowing economy due to repeated Covid-19 outbreaks and subsequent lockdowns delivered a one-two punch to Sany Heavy Industry Co. Ltd. last year</li><li>The company attributed the lackluster earnings estimate to the macroeconomic slowdown, which saw China’s GDP growth come in at the second-slowest in more than four decades</li><li>Sany’s profit warning serves as an indication of how China’s domestic construction machinery industry is struggling.</li></ul>

A slowing economy due to repeated Covid-19 outbreaks and subsequent lockdowns delivered a one-two punch to Sany Heavy Industry Co. Ltd. last yearThe company attributed the lackluster earnings estimate to the macroeconomic slowdown, which saw China’s GDP growth come in at the second-slowest in more than four decadesSany’s profit warning serves as an indication of how China’s domestic construction machinery industry is struggling.

Sany Heavy, Zoomlion Warn of Tumbling Profits on Covid-Hit Economy

Cross Asset Strategy

<ul><li>In Depth: A metal tycoon’s liquidity woes disrupt China’s copper trade</li><li>China warns incoming Czech leader over call with Taiwan’s Tsai</li><li>China’s factory activity shrinks for sixth straight month, Caixin PMI shows</li></ul>

In Depth: A metal tycoon’s liquidity woes disrupt China’s copper tradeChina warns incoming Czech leader over call with Taiwan’s TsaiChina’s factory activity shrinks for sixth straight month, Caixin PMI shows

CX Daily: A Metal Tycoon’s Liquidity Woes Disrupt China’s Copper Trade

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

<ul><li>SANY’s 3Q22 net profit declined 61% YoY to RMB963mn, with earnings largely contributed by finance income and other gains.</li><li>The lack of gross margin recovery along with the increased distribution expense and R&amp;D spending are the key factors that dragged the earnings.</li><li>We slash our 2022E/23E/24E earnings forecast by 52%/38%/36% (37%-44% below consensus), largely a result of lower sales volume and higher expense assumptions.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SANY’s 3Q22 net profit declined 61% YoY to RMB963mn, with earnings largely contributed by finance income and other gains.The lack of gross margin recovery along with the increased distribution expense and R&amp;D spending are the key factors that dragged the earnings.We slash our 2022E/23E/24E earnings forecast by 52%/38%/36% (37%-44% below consensus), largely a result of lower sales volume and higher expense assumptions.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SANY Heavy Industry – A (600031 CH) – Another Weak Quarter; Still Challenging

<ul><li>Sany Heavy Industry, one of China’s largest construction machinery makers, reported a plunge in first-half profit as slower growth and Covid restrictions reduce demand for building equipment.</li><li>Revenue fell 40.9% to 39.7 billion yuan ($5.76 billion) for the first six months of 2022, the company said Tuesday. Net income plummeted 73.85% to 2.63 billion yuan.</li><li>Excavators are Sany’s core product. In the first half, the company’s excavator sales declined 35.6% year-on-year to 16.7 billion yuan</li></ul>

Sany Heavy Industry, one of China’s largest construction machinery makers, reported a plunge in first-half profit as slower growth and Covid restrictions reduce demand for building equipment.Revenue fell 40.9% to 39.7 billion yuan ($5.76 billion) for the first six months of 2022, the company said Tuesday. Net income plummeted 73.85% to 2.63 billion yuan.Excavators are Sany’s core product. In the first half, the company’s excavator sales declined 35.6% year-on-year to 16.7 billion yuan

Sany Profit Falls 73.85% as Demand for Construction Gear Dries Up

China

SANY Heavy Industry Co., Ltd manufactures and markets construction and engineering machinery and related parts. The Company produces and sells concrete pumps, concrete pump vehicles, road rollers, pavers, and other related products. Sany Heavy Industry markets its products worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sany Heavy Industry (600031 CH)

Sany Heavy, Zoomlion Warn of Tumbling Profits on Covid-Hit Economy

A slowing economy due to repeated Covid-19 outbreaks and subsequent lockdowns delivered a one-two punch to Sany Heavy Industry Co. Ltd. last year

Caixin Global

CX Daily: A Metal Tycoon’s Liquidity Woes Disrupt China’s Copper Trade

In Depth: A metal tycoon’s liquidity woes disrupt China’s copper trade. China warns incoming Czech leader over call with Taiwan’s Tsai

Caixin Global

SANY Heavy Industry – A (600031 CH) – Another Weak Quarter; Still Challenging

We slash our 2022E/23E/24E earnings forecast by 52%/38%/36% (37%-44% below consensus), largely a result of lower sales volume and higher expense...

CMB International

Sany Profit Falls 73.85% as Demand for Construction Gear Dries Up

Sany Heavy Industry, one of China’s largest construction machinery makers, reported a plunge in first-half profit as slower growth and Covid...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)