CROSBY Research – Sany Heavy Equipment (631 HK/NR): Overseas sales and reduced impairment costs lifted FY25 earnings

23 Mar 2026

Sany Heavy has issued a positive profit alert, projecting its FY25 net profit in the range of Rmn1.6–1.9bn, a robust year‑on‑year increase of 49.8% to 73.2%. This earnings surge is primarily driven by a significant reduction in impairment losses.