Sany Heavy Industry plans to spin off its excavato

Sany Heavy Industry plans to spin off its excavator business and go public in Hong Kong. Trading resumed on August 6

on the evening of August 5, Sany Heavy Industry announced that the "major issues" that had triggered the suspension of the company had passed the deliberation of the board of directors, and its shares would also resume trading on August 6. On the evening of August 5, Sany Heavy Industry announced that the major issues that had triggered the suspension of trading of the company had been reviewed by the board of directors, and its shares would be resumed on August 6

according to the announcement, this major event is related to the planned IPO of Sany Heavy Machinery (China) Co., Ltd., a wholly-owned subsidiary of Sany Heavy Industry, on the main board of the Hong Kong stock exchange

in this regard, the board of directors of Sany Heavy Industry will submit to the general meeting of shareholders of the company to authorize the board of directors to fully handle matters related to the listing of Sany Heavy Machinery (China) Co., Ltd. in Hong Kong, including but not limited to exercising shareholders' rights in Sany Heavy machinery (China) Co., Ltd. on behalf of the company, and making resolutions related to the listing of Sany Heavy Machinery (China) Co., Ltd. that should be made by the general meeting of shareholders, And adjust and change the matters related to the listing of Sany Heavy Machinery (China) Co., Ltd. (the validity period of the authorization is 18 months)

Sany Heavy Industry also stressed in the announcement that the main products of the company (except Sany Heavy Machinery) are concrete machinery, hoisting machinery, piling machinery, pavement machinery, etc., while Sany has won a total of US $18000 in bonuses. The main products of Sany Heavy machinery are excavation machinery, which belong to different sub industries under the construction machinery industry. Therefore, the products of the company and Sany Heavy Machinery Co., Ltd. have completely different uses, and there is no substitution relationship. At the same time, there are obvious differences in product sales mode, customers and main raw material suppliers

Sany Heavy Industry in 2011 and 201 electronic universal testing machine are high-precision testing instruments. In two years and 2013, the net profits attributable to the owners of the parent company were about 8.648.9 billion yuan, 5.686 billion yuan and 2.903.6 billion yuan respectively, in line with the relevant provisions of the CSRC on the continuous profits of enterprises Affiliated to domestic listed companies in the past three years. In 2013, the net profit attributable to the owner of Sany Heavy Machinery Co., Ltd. was about 1.17 billion yuan, which did not exceed 50% of the consolidated net profit of Sany Heavy Machinery Co., Ltd

the opinion released by the independent directors of Sany Heavy industry believes that Sany Heavy Industry and Sany Heavy Machinery (China) remain independent in terms of personnel, assets, finance, institutions and business. After Sany Heavy Machinery (China) is listed in Hong Kong, it will not have any material impact on the continuous operation of other business segments of the company, and Sany Heavy Industry still has an independent continuous listing status The retained core assets and businesses are capable of sustainable operation

note: the Shanghai Hong Kong stock connect will open in October. In the view of people in the industry, Sany Heavy Industry chose to split its Sany Heavy machinery to Hong Kong at this time, and also considered taking advantage of the Shanghai Hong Kong stock connect

not only that, affected by the imminent opening of the Shanghai Hong Kong stock connect, mainland enterprises have become popular to list in Hong Kong. Wind information statistics show that since July, a total of 14 mainland enterprises have listed in Hong Kong, while in June, 15 mainland enterprises have listed in Hong Kong with relaxation testing machines that can measure the flexibility of products. Judging from the number of mainland enterprises listed in Hong Kong in the first seven months of this year, the number in June and July is obviously much higher than that in the first five months

at the same time, in a recent survey, 50.03% of A-share investors said that they would invest in the Hong Kong stock market after the opening of the Shanghai Hong Kong stock connect