SANY Heavy Industry Co., Ltd. (SH: 600031, share price 18.18 yuan, market cap 167.2 billion yuan) released an announcement on September 16 detailing the latest updates on its A-share repurchase efforts.

According to the filing, the company repurchased 16.6206 million shares through centralized bidding on that same day, committing approximately 299 million yuan in funds. This move came as the A-share construction machinery sector faced a broad decline during the morning trading session.

The stock at one point approached the daily downward limit before closing 6.72% lower, extending its year-to-date decline to 13.22%.

In terms of the buyback framework, SANY Heavy Industry convened the 11th meeting of its ninth board of directors on July 24, 2026, where it approved a proposal to repurchase company A-shares through centralized bidding transactions. The plan allows for repurchases at a price not exceeding 27.96 yuan per share, with total buyback amounts ranging from no less than 400 million yuan to no more than 800 million yuan, all to be executed within 12 months of board approval. Initiated by the board chairman and first publicly disclosed on July 25, 2026, the repurchased shares are earmarked for employee stock ownership plans or equity incentives.

On September 16, 2026, the company bought back 16.6206 million shares, representing 0.1808% of its total share capital. The highest price paid during the session was 18.96 yuan per share, with the lowest at 17.64 yuan, totaling 298.5011 million yuan in outlays, excluding transaction fees. As of that date, the cumulative repurchase volume stood at 18.3685 million shares, or 0.1998% of total share capital, with maximum and minimum purchase prices of 20.07 yuan and 17.64 yuan per share, respectively, and a total investment of 332.9802 million yuan, excluding fees.

The company emphasized that all repurchase activities fully comply with relevant legal and regulatory requirements, as well as its established buyback plan. Management stated it will continue to make opportunistic repurchase decisions based on market conditions within the designated time frame and move forward with implementation accordingly.

As a leading player in engineering machinery, SANY Heavy Industry focuses on the research, development, manufacturing, sales, and service of equipment, with a product lineup spanning concrete machinery, excavators, hoisting machinery, piling machinery, and road machinery. The concrete equipment segment holds the world's No. 1 brand position, while its excavators, small-tonnage crawler cranes, rotary drilling rigs, and complete road equipment lines have achieved leadership status within the Chinese market.

In its interim report released on August 30, the company noted that the first half of 2026 saw the industry exhibit a trajectory of "stabilizing domestic demand and rising export quality and quantity." For the reporting period, the company generated total operating revenue of 53.506 billion yuan, up 19.49% year-on-year, with net profit attributable to shareholders reaching 5.69 billion yuan, up 9.13%. Operating cash flow hit 9.768 billion yuan. In the second quarter alone, revenue climbed 24.39% year-on-year to 29.359 billion yuan, while net profit attributable to shareholders rose 16.93% to 3.209 billion yuan.

Breaking down by product category, excavator sales brought in 21.306 billion yuan, a 21.77% increase that cemented first place in the domestic market. Concrete machinery achieved 9.022 billion yuan, up 21.25%, maintaining its global top-tier brand standing. Hoisting machinery reported 8.446 billion yuan in revenue, reflecting an 8.22% gain, while piling machinery soared 63.11% to 2.187 billion yuan, and road machinery advanced 5.52% to 2.278 billion yuan.

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