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Major Chinese maker of construction machinery including excavators, concrete pumps and cranes.
Major Chinese maker of construction machinery including excavators, concrete pumps and cranes.
Sells machines to contractors through dealers, with excavators now its largest line after earlier fame in concrete equipment; a large share of sales now comes from outside China. This is the Hong Kong-listed share class of the Shanghai-listed company, founded by Liang Wengen and controlled by the Sany group.
In one line: A Chinese Caterpillar-scale construction-equipment maker.
Moat: narrow (scale, distribution, brand). Largest domestic construction-equipment distribution/service network and growing overseas presence.
Headquarters: Changsha, China · Founded: 1989 · Employees: 28,469
Size Sany Heavy Industry (6031.HK) is a Hong Kong Industrials company (Trucks/Construction/Farm Machinery) with a market value of $24.2B, the 68th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$16.86 on 6 Nov 2026.
Performance Over six months the shares fell 26.9%, against -11.0% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 24.5% over the last twelve months (peer median +12.9%); the operating margin is 10.8% (peer median 13.3%).
Valuation It trades at 12.9× forward earnings against a peer median of 13.3× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.2 points above its cost of capital (8.8% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$116B | HK$97.0B | HK$84.8B | HK$81.8B | HK$94.0B |
| Revenue growth | — | +14% | +4% | -13% | — |
| Gross profit | HK$34.4B | HK$25.2B | HK$21.1B | HK$20.2B | HK$21.7B |
| EBITDA | n/a | HK$14.2B | HK$10.3B | HK$8.37B | HK$6.75B |
| Net income | HK$10.6B | HK$9.12B | HK$6.46B | HK$5.00B | HK$4.99B |
| Free cash flow | HK$20.8B | HK$24.9B | HK$17.1B | HK$3.29B | HK$3.14B |
| Capital expenditure | HK$2.90B | HK$3.01B | HK$3.19B | HK$5.00B | HK$6.59B |
| Total debt | HK$40.2B | HK$38.6B | HK$38.7B | HK$46.5B | HK$56.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sany Heavy Industry 6031.HK | $24.2B | -27% | +25% | 11% | 12.9× | -1.1% |
| Zoomlion Heavy Industry Science & Technology 1157.HK | $7.63B | -36% | +23% | 7% | 8.1× | 12.6% |
| XCMG Construction Machinery 000425.SZ | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% |
| Caterpillar CAT | $257B | -38% | +20% | 19% | 18.8× | 18.0% |
| Komatsu 6301.T | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6031.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.5% | -7.1% | 7th highest of 21 |
| 6-month return | -26.9% | -11.0% | 7th lowest of 21 |
| Distance from 52-week high | -37.9% | -24.3% | 7th lowest of 21 |
| Revenue growth (TTM) | +24.5% | +12.9% | 6th highest of 21 |
| Operating margin | 10.8% | 13.3% | 6th lowest of 21 |
| Forward P/E | 12.9× | 13.3× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -1.1% | 7.3% | 9th least demanding of 19 |
| Growth delivered (Del g) | -2.9% | +9.9% | 2nd lowest of 19 |
| Hurdle (Req g minus delivered) | +1.8 pp | -3.4 pp | 8th most demanding of 19 |
| ROIC minus cost of capital | +5.2 pp | +5.4 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sany Heavy Industry 6031.HK | Hong Kong | $24.2B | -27% | +25% | 11% | 12.9× | -1.1% | -2.9% |
| CRRC 1766.HK | Hong Kong | $26.4B | +4% | +7% | 6% | 9.2× | -2.4% | +3.1% |
| Doosan Enerbility 034020.KS | South Korea | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% | +13.2% |
| Epiroc EPI-A.ST | Sweden | $28.6B | -10% | +1% | 19% | 29.3× | 16.5% | +11.4% |
| Hd Hyundai Heavy Industries 329180.KS | South Korea | $20.3B | -62% | +41% | 15% | 9.5× | -7.0% | +16.2% |
| Kubota 6326.T | Japan | $18.2B | 0% | +13% | 11% | 10.0× | 7.5% | +10.3% |
| Komatsu 6301.T | Japan | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% | +13.6% |
| Wartsila Oyj Abp WRT1V.HE | Finland | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% | +8.5% |
| Metso METSO.HE | Finland | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% | +9.6% |
| China CSSC 600150.SS | China | $39.7B | -16% | +80% | 8% | 13.3× | -7.8% | +22.4% |
| CNH Industrial CNH | United States | $14.3B | +5% | +1% | 13% | 21.1× | 7.4% | -7.0% |
| Yangzijiang Shipbuilding (Holdings) BS6.SI | Singapore | $13.5B | +11% | +26% | 32% | 8.2× | -10.1% | +11.8% |
| Sandvik SAND.ST | Sweden | $45.8B | -1% | +14% | 20% | 21.0× | 13.3% | +6.9% |
| XCMG Construction Machinery 000425.SZ | China | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% | +6.4% |
| Hdksoe 009540.KS | South Korea | $12.5B | -48% | +23% | 23% | 4.4× | n/a | n/a |
| Sinotruk Hong Kong 3808.HK | Hong Kong | $12.3B | -12% | +38% | 7% | 9.4× | -3.2% | +1.5% |
| Wabtec WAB | United States | $47.6B | +7% | +13% | 18% | 23.8× | 17.0% | +8.1% |
| Paccar PCAR | United States | $53.7B | -11% | -1% | 11% | 15.4× | 11.2% | +8.7% |
| Ashok Leyland ASHOKLEY.NS | India | $10.7B | +1% | +16% | 17% | 24.8× | n/a | n/a |
| Hanwha Ocean 042660.KS | South Korea | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% | +13.2% |
| SamsungHvyInd 010140.KS | South Korea | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% | +11.4% |