Sany plans H-share listing in Hong Kong

Sany Heavy Industry Co., Ltd. (SSE:600031) is proposing to list H-shares on the Hong Kong Stock Exchange (HKEX), according to materials prepared for its second extraordinary general meeting of shareholders in 2025. The move aims to strengthen the company's global presence and improve corporate governance. The proposed offering size will not exceed 10% of the company’s total share capital after the issuance, before exercising any over-allotment option. The company intends to use the proceeds to expand global operations, increase R&D investment, and supplement working capital. Shareholders will also consider the appointment of an auditor for the H-share offering and post-listing activities. The meeting will also address amendments to the company's articles of association and internal governance structures, along with the election of the ninth board of directors. The proposals include adjusting independent director allowances from CNY 120,000 to CNY 200,000 per year. Further, the employee stock ownership plan will entail no more than 5,552 participants and a total scale not exceeding CNY 535,331,979.