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<Research> CLSA: Market Overly Concerned About SANY INT'L (00631.HK) Coal Machinery Business
CLSA said in a research report that SANY INT'L (00631.HK) share price fell 8% on April 30, 2026, mainly affected by weaker-than-expected 1Q results from ZCZL (601717.SH), which int...
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<Research> CLSA: Market Overly Concerned About SANY INT'L (00631.HK) Coal Machinery Business
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CLSA said in a research report that SANY INT'L (00631.HK)  -0.100 (-0.845%)    Short selling $23.67M; Ratio 33.099%   share price fell 8% on April 30, 2026, mainly affected by weaker-than-expected 1Q results from ZCZL (601717.SH)  +0.520 (+2.825%)   , which intensified market concerns over weak demand and profit pressure across the coal equipment value chain. ZCZL reported 1Q revenue of RMB9.54 billion, down 2.3% YoY, while net profit fell 18.1% YoY to RMB892 million. Investors extrapolated this signal to SANY INT'L, given that its coal equipment business accounts for about 10% of total sales. CLSA believes the markets concerns over SANY INT'Ls coal equipment business are excessive.

The broker noted that SANY INT'L had previously expressed a cautious outlook on the domestic coal industry and expects the companys fundamentals to remain stable. It maintained an Outperform rating on SANY INT'L with a TP of HKD16. (hc/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-13 16:25.) (A Shares quote is delayed for at least 15 mins.)

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