Jinwu Financial News | According to the Zheshang Securities Research Report, Sany International (00631) released a report for the third quarter of 2024. Net profit to mother decreased by 21.6% in the first three quarters, mainly due to a decline in net profit from the mining equipment sector. According to the bank, profitability declined in Q3, and the revenue structure changed significantly. In terms of mining equipment, domestic demand has fluctuated, and overseas markets are growing strongly; in terms of logistics equipment, the shipping boom is high, and demand for renewal is constantly being released; in emerging fields, the Group's high-quality assets are expected to continue to be injected, and there is plenty of room for diversified development at home and abroad.
The bank expects the company's revenue in 2024-2026 to be 21.3, 23.3, and 25.9 billion yuan, respectively, with year-on-year growth rates of 5%, 10%, and 11%, respectively. Net profit attributable to mother was 1.9, 2, and 2.2 billion yuan, respectively, with year-on-year growth rates of 1%, 5%, and 8%, PE of 8.5, 8.0, and 7.4, and PB of 1.2, 1.1, and 0.9, maintaining a “buy” rating.
