A number of brokerages maintain a "buy" rating and are optimistic about Sany Heavy Industry!

On April 28, Sany Heavy Industry released its 2023 annual report and 2024 first quarter report. The annual report shows that in 2023, a number of leading products of Sany Heavy Industry will maintain the leading position in the industry, with strong growth in the international market, and the overall gross profit margin of the year will increase by 3.70 percentage points year-on-year. In the first quarter of 2024, Sany Heavy Industry's operating conditions in the current quarter continued the trend of accelerating profit improvement in 2023, with net profit increasing by 4% year-on-year.

As a leading stock of construction machinery, after Sany Heavy Industry issued an announcement, a number of brokerage institutions issued research reports, all of which issued "recommended" and "buy" ratings!

China Securities Construction Investment

Sany Heavy Industry (600031): Overseas accounts for about 60% Adhere to the high-quality development strategy

China Securities Construction Investment said that Sany Heavy Industry will implement a high-quality development business strategy in 2023, of which overseas revenue will account for about 60%. In the context of the dual optimization of the market and product structure, the company's gross profit margin increased by 3.7pct year-on-year, the net profit margin increased by 0.8pct, the company's profitability was improved, and the net profit increased.

Huatai Securities

Sany Heavy Industry (600031): Outstanding overseas performance and improved profitability

Huatai Securities proposed that in the long run, as Chinese brands continue to deploy overseas R&D, channels, after-sales, etc., it is expected to transform "product power" into "brand power" in the future. Considering the company's leading and more complete overseas layout and stronger profitability brought by scale advantages, and the company, as an industry leader, is expected to obtain greater profit elasticity after the industry inflection point, the "buy" rating is maintained.

GF Securities

Sany Heavy Industry (600031): The performance is in line with expectations, and internationalization and high-quality development are parallel

GF Securities pointed out that Sany Heavy Industry's overseas business expansion has achieved remarkable results, and its overseas revenue will increase by 18.3% year-on-year in 2023. At the same time, the high-quality development is still the same, the product structure is optimized, the intelligent operation of the intelligent manufacturing machine continues to make breakthroughs, and since the second half of 23 years, the inventory policy has been strictly controlled and the good payment conditions have been maintained to achieve internal risk optimization. By the end of 2023, 33 lighthouse factories have been built. At the same time, considering the position of the cyclical recovery, as well as the active expansion of overseas markets, it is given a "buy" rating.

Minsheng Securities

Sany Heavy Industry (600031): "Three modernizations" achievements and "equipment renewal" help the domestic bottom

Minsheng Securities pointed out that by the end of 2023, overseas product sales have covered more than 180 countries and regions, and Europe and the United States have become the fastest growing overseas regions. In the field of new energy engineering equipment that can be commercialized, the company has achieved a leading position in the industry. Looking forward to 24 years, with the continuous advancement of the equipment renewal policy, the excavator is expected to bottom out in 24 years. Maintain the "Recommended" rating.

Southwest Securities

Sany Heavy Industry (600031): 24Q1 net profit attributable to the parent company +4.2% year-on-year profitability improvement

Southwest Securities pointed out in the research report that the net profit attributable to the parent company of Sany Heavy Industry in 2024Q1 was 1.58 billion, a year-on-year increase of 4.2%. The upward inflection point of domestic demand is approaching, and Sany Heavy Industry is the leader of the construction machinery industry, which is expected to benefit deeply. In addition, considering the implementation of the "trade-in" policy, the plate renewal cycle is expected to enter the repair channel. With the recovery momentum of the domestic industry, the company's performance is expected to continue to recover, giving a "buy" rating.

At present, Sany Heavy Industry actively practices the strategy of globalization, digital intelligence and low-carbonization, and has become an important force in cultivating new quality productivity in the construction machinery industry.