Earnings release
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– 1 – Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. SANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS COMPANY LIMITED (Incorporated in the Cayman Islands with limited liability) (Stock Code: 631) ʮ̡ INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2026 The board (the “ Board”) of directors (the “ Directors”) of Sany Heavy Equipment International Holdings Company Limited (the “ Company”) is pleased to announce the unaudited condensed consolidated interim results of the Company and its subsidiaries (collectively, the “ Group”) for the six months ended 30 June 2026. FINANCIAL SUMMARY For the six months ended 30 June 2026, the Group recorded revenue of approximately RMB14,749.8 million, representing an increase of approximately 20.5% as compared with approximately RMB12,236.6 million for the six months ended 30 June 2025. For the six months ended 30 June 2026, the Group’s profit margin before tax was approximately 10.6%, representing a decrease of approximately 3.4 percentage points as compared with approximately 14.0% for the six months ended 30 June 2025. For the six months ended 30 June 2026, the Group’s profit for the period was approximately RMB1,175.2 million, which represents a decrease of approximately 9.2% as compared with approximately RMB1,294.2 million for the six months ended 30 June 2025. The Group’s profit attributable to owners of the parent was approximately RMB1,217.6 million, which represents a decrease of approximately 5.9% as compared with approximately RMB1,294.4 million for the six months ended 30 June 2025. The Group’s basic earnings per share for the six months ended 30 June 2026 amounted to RMB0.35.
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– 2 – INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the six months ended 30 June 2026 2026 2025 (Unaudited) (Unaudited) Notes RMB’000 RMB’000 REVENUE 4 14,749,784 12,236,558 Cost of sales (11,490,508) (9,337,876) Gross profit 3,259,276 2,898,682 Other income and gains 4 525,667 594,104 Selling and distribution expenses (723,032) (576,305) Administrative expenses (1,053,192) (985,711) Impairment losses on financial and contract assets, net (122,270) (93,846) Other expenses (169,750) (4,213) Finance costs 6 (143,345) (122,046) Share of loss of a joint venture (14,926) (3,428) PROFIT BEFORE TAX 5 1,558,428 1,707,237 Income tax expense 7 (383,275) (413,064) PROFIT FOR THE PERIOD 1,175,153 1,294,173 Attributable to: Owners of the parent 1,217,566 1,294,383 Non-controlling interests (42,413) (210) 1,175,153 1,294,173 EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT 9 Basic (RMB Yuan) 0.35 0.39 Diluted (RMB Yuan) 0.32 0.35
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– 3 – INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the six months ended 30 June 2026 2026 2025 (Unaudited) (Unaudited) RMB’000 RMB’000 PROFIT FOR THE PERIOD 1,175,153 1,294,173 OTHER COMPREHENSIVE INCOME Other comprehensive income that may be reclassified to profit or loss in subsequent periods: Exchange differences on translation of financial statements of foreign operations (16,939) 2,897 Net other comprehensive income that may be reclassified to profit or loss in subsequent periods (16,939) 2,897 Other comprehensive income that will not be reclassified to profit or loss in subsequent periods: Exchange differences on translation of financial statements of the Company (69,759) (44,450) Net other comprehensive income that will not be reclassified to profit or loss in subsequent periods (69,759) (44,450) OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF TAX (86,698) (41,553) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 1,088,455 1,252,620 Attributable to: Owners of the parent 1,130,868 1,252,830 Non-controlling interests (42,413) (210) 1,088,455 1,252,620
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– 4 – INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2026 30 June 2026 31 December 2025 (Unaudited) (Audited) Notes RMB’000 RMB’000 NON-CURRENT ASSETS Property, plant and equipment 10 8,609,866 8,442,147 Investment properties 111,412 113,922 Right-of-use assets 1,333,162 1,382,287 Goodwill 1,994,663 1,994,663 Other intangible assets 1,288,152 1,390,739 Investment in a joint venture 20,402 35,328 Financial assets at fair value through profit or loss 12 155,000 107,500 Trade receivables 11 1,545,631 1,113,884 Non-current prepayments 20,178 20,598 Contract assets 212,090 267,842 Deferred tax assets 511,783 407,440 Total non-current assets 15,802,339 15,276,350 CURRENT ASSETS Inventories 6,132,261 5,844,803 Properties for sale 441,073 448,240 Trade receivables 11 13,282,330 10,869,887 Bills receivable 11 753,304 1,139,411 Contract assets 111,125 308,484 Prepayments, other receivables and other assets 1,838,707 1,682,305 Derivative financial instruments — 436 Financial assets at fair value through profit or loss 12 4,943,291 3,060,345 Pledged deposits 336,932 226,786 Cash and cash equivalents 4,311,052 6,064,167 Total current assets 32,150,075 29,644,864 CURRENT LIABILITIES Trade and bills payables 13 14,629,896 12,126,140 Other payables and accruals 5,675,181 6,253,684 Dividend payable 815,693 91,871 Interest-bearing bank and other borrowings 14 4,755,829 4,268,701 Lease liabilities 37,913 52,586 Tax payable 114,702 63,192 Provision for warranties 134,471 91,263 Government grants 168,299 171,332 Total current liabilities 26,331,984 23,118,769 NET CURRENT ASSETS 5,818,091 6,526,095 TOTAL ASSETS LESS CURRENT LIABILITIES 21,620,430 21,802,445
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– 5 – 30 June 2026 31 December 2025 (Unaudited) (Audited) Notes RMB’000 RMB’000 NON-CURRENT LIABILITIES Interest-bearing bank and other borrowings 14 6,556,336 6,792,020 Lease liabilities 128,397 141,967 Government grants 1,351,388 1,422,499 Deferred tax liabilities 264,893 276,900 Total non-current liabilities 8,301,014 8,633,386 Net assets 13,319,416 13,169,059 EQUITY Equity attributable to owners of the parent Share capital 15 324,186 319,097 Reserves 13,060,951 12,873,270 13,385,137 13,192,367 Non-controlling interests (65,721) (23,308) Total equity 13,319,416 13,169,059
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– 6 – NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION 30 June 2026 1. CORPORATE INFORMATION Sany Heavy Equipment International Holdings Company Limited (the “Company”) is a limited liability company incorporated in the Cayman Islands on 23 July 2009. The Company’s registered office address is Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands, and the head office and principal place of business of the Company is located at No.25, 16 Kaifa Road, Economic and Technological Development Area, Shenyang City, Liaoning Province, the People’s Republic of China (the “PRC”). During the period, the Company and its subsidiaries (collectively referred to as the “Group”) were principally engaged in the manufacture and sale of mining equipment, logistics equipment, petroleum equipment, new energy manufacturing equipment, electricity, lithium batteries, energy storage systems, and spare parts, and the provision of related services in Chinese mainland. In the opinion of the directors of the Company (the “Directors”), the immediate holding company and the ultimate holding company of the Company are Sany Hongkong Group Limited (“Sany HK”), a company incorporated in Hong Kong, and Sany Heavy Equipment Investments Company Limited (“Sany BVI”), a company incorporated in the British Virgin Islands, respectively. 2.1 BASIS OF PREPARATION The interim condensed consolidated financial information for the six months ended 30 June 2026 has been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting . The interim condensed consolidated financial information is presented in Renminbi (“RMB”) and all values are rounded to the nearest thousand except when otherwise indicated. The interim condensed consolidated financial information does not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s annual consolidated financial statements for the year ended 31 December 2025. 2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES The accounting policies adopted in the preparation of the interim condensed consolidated financial information are consistent with those applied in the preparation of the Group’s annual consolidated financial statements for the year ended 31 December 2025, except for the adoption of the following amended IFRS Accounting Standards for the first time for the current period’s financial information. Amendments to IFRS 9 and IFRS 7 Amendments to the Classification and Measurement of Financial Instruments Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity Annual Improvements to IFRS Accounting Standards — Volume 11 Amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and HKAS 7 The above amended IFRS Accounting Standards did not have any material impact on the interim condensed consolidated financial information of the Group.
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– 7 – 3. OPERATING SEGMENT INFORMATION For management purposes, the Group is organised into business units based on its products and services and has four reportable operating segments as follows: (a) Mining equipment segment The mining equipment segment engages in the production and sale of coal mining machinery, non-coal mining machinery, mining transport equipment and spare parts and the provision of related services; (b) Logistics equipment segment The logistics equipment segment engages in the production and sale of container equipment, bulk material equipment, general equipment and spare parts and the provision of related services; (c) Oil & Gas equipment segment The oil & gas equipment segment engages in the production and sale of fracturing units and spare parts for oil & gas field, and the provision of oil & gas field cementing and stimulation technical services and the provision of construction services; and (d) Emerging industry equipment segment The emerging industry equipment segment mainly engages in the production and sales of lithium battery manufacturing equipment, solar modules, electrolysis hydrogen production equipment, power exchange stations, lithium batteries, electricity, power station project products, and the provision of construction services and other related services. Management monitors the results of the Group’s operating segments separately for the purpose of making decisions about resources allocation and performance assessment. Segment performance is evaluated based on reportable segment profit/loss, which is a measure of adjusted profit/loss before tax. The adjusted profit/loss before tax is measured consistently with the Group’s profit/loss before tax except that interest income, non-lease-related finance costs, as well as head office and corporate expenses are excluded from this measurement. Segment assets exclude deferred tax assets, pledged deposits, cash and cash equivalents and other unallocated head office and corporate assets as these assets are managed on a group basis. Segment liabilities exclude interest-bearing bank and other borrowings, deferred tax liabilities, tax payables and other unallocated head office and corporate liabilities as these liabilities are managed on a group basis. Intersegment sales and transfers are transacted with reference to the selling prices used for sales made to third parties at the then prevailing market prices.
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– 8 – Six months ended 30 June 2026 Mining equipment Logistics equipment Oil & Gas equipment segment Emerging industry equipment segment Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment revenue (note 4) Sales to customers 6,336,035 4,603,964 1,225,861 2,583,924 14,749,784 Intersegment sales 4,735 334,717 — 18,285 357,737 Other revenue 205,758 88,409 52,039 25,028 371,234 6,546,528 5,027,090 1,277,900 2,627,237 15,478,755 Reconciliation: Elimination of intersegment sales (357,737) Revenue from operations 15,121,018 Segment results 1,127,965 713,394 67,278 (364,180) 1,544,457 Reconciliation: Interest income 154,433 Finance costs (other than interest on lease liabilities) (140,462) Profit before tax 1,558,428 Income tax expense (383,275) Profit for the period 1,175,153 Segment assets 19,893,863 13,008,985 5,364,041 8,896,643 47,163,532 Reconciliation: Elimination of intersegment receivables (4,370,885) Corporate and other unallocated assets 5,159,767 Total assets 47,952,414 Segment liabilities 9,042,259 7,626,600 2,709,901 7,117,670 26,496,430 Reconciliation: Elimination of intersegment payables (4,370,885) Corporate and other unallocated liabilities 12,507,453 Total liabilities 34,632,998
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– 9 – Six months ended 30 June 2026 Mining equipment Logistics equipment Oil & Gas equipment segment Emerging industry equipment segment Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Other segment information Loss on disposal of items of property, plant and equipment 488 3,043 228 300 4,059 Gain on disposal of items of property, plant and equipment — (2,585) (27,218) — (29,803) Impairment of trade receivables, net 80,769 11,484 5,921 26,440 124,614 Impairment of other receivables, net 9 (133) 2,484 332 2,692 Impairment of contract assets, net (5,587) 726 (175) — (5,036) (Write-back of provision)/provision against slow-moving and obsolete inventories (12,132) 4,553 (13,449) 23,948 2,920 Depreciation and amortisation 142,430 146,155 107,271 216,341 612,197 Other non-cash expense 24,365 19,471 6,754 4,481 55,071 Capital expenditure* 8,030 108,849 310,617 280,773 708,269 Six months ended 30 June 2025 Mining equipment Logistics equipment Oil & Gas equipment segment Emerging industry equipment segment Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment revenue (note 4) Sales to customers 4,636,791 3,680,398 1,324,966 2,594,403 12,236,558 Intersegment sales — 374,596 — 87,417 462,013 Other revenue 323,025 82,055 16,542 24,668 446,290 4,959,816 4,137,049 1,341,508 2,706,488 13,144,861 Reconciliation: Elimination of intersegment sales (462,013) Revenue from operations 12,682,848 Segment results 768,612 739,110 115,165 57,169 1,680,056 Reconciliation: Interest income 147,814 Finance costs (other than interest on lease liabilities) (120,633) Profit before tax 1,707,237 Income tax expense (413,064) Profit for the period 1,294,173
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– 10 – Six months ended 30 June 2025 Mining equipment Logistics equipment Oil & Gas equipment segment Emerging industry equipment segment Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment assets 19,318,551 10,735,259 4,532,639 6,612,564 41,199,013 Reconciliation: Elimination of intersegment receivables (4,233,638) Corporate and other unallocated assets 6,673,072 Total assets 43,638,447 Segment liabilities 9,098,919 6,227,805 2,058,350 5,929,557 23,314,631 Reconciliation: Elimination of intersegment payables (4,233,638) Corporate and other unallocated liabilities 12,047,422 Total liabilities 31,128,415 Other segment information Loss on disposal of items of property, plant and equipment 14 717 17 53 801 Impairment of trade receivables, net 60,035 16,583 463 8,453 85,534 (Reversal of impairment)/impairment of other receivables, net (665) 1,550 6,762 780 8,427 (Reversal of impairment)/impairment of contract assets, net (594) 1,104 (625) — (115) Provision/(write-back of provision) against slow-moving and obsolete inventories 7,413 (12,506) 4,646 26,515 26,068 Depreciation and amortisation 152,357 135,551 106,516 138,306 532,730 Other non-cash expense 30,260 19,886 6,128 9,594 65,868 Capital expenditure* 25,202 157,561 33,280 458,755 674,798 * Capital expenditure consists of additions to property, plant and equipment, right-of-use assets and intangible assets. (e) Information about major customers Revenue of approximately RMB2,995,020,000 (six months ended 30 June 2025: RMB2,487,288,000) was derived from sales to fellow subsidiaries, including sales to a group of entities which are known to be under common control with that customer.
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– 11 – 4. REVENUE, OTHER INCOME AND GAINS Revenue represents the net invoiced value of goods sold and services rendered, after allowances for returns and trade discounts. An analysis of revenue is as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Revenue from contracts with customers 14,749,784 12,236,558 Disaggregated revenue information for revenue from contracts with customers For the six months ended 30 June 2026 Segments Mining equipment Logistics equipment Oil & Gas equipment Emerging industry equipment Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Types of goods or services Sale of industrial products 6,182,620 4,556,189 569,723 2,456,231 13,764,763 Construction services — — 398,357 22,107 420,464 Sale of electricity — — — 94,704 94,704 Installation services — 18,532 — — 18,532 Oil field service — — 243,362 — 243,362 Maintenance services and others 153,415 29,243 14,419 10,882 207,959 6,336,035 4,603,964 1,225,861 2,583,924 14,749,784 Geographical markets Chinese mainland 2,655,192 1,608,563 1,206,810 2,467,154 7,937,719 Asia (excluding Chinese mainland) 2,124,998 1,687,519 19,051 71,283 3,902,851 Europe 719,320 280,868 — 1,471 1,001,659 Africa 385,737 177,484 — 38,870 602,091 United States of America — 188,912 — — 188,912 Brazil 196,481 396,473 — 1,375 594,329 Other countries/regions 254,307 264,145 — 3,771 522,223 6,336,035 4,603,964 1,225,861 2,583,924 14,749,784 Timing of revenue recognition Goods transferred at a point in time 6,182,620 4,562,317 569,723 2,550,935 13,865,595 Services transferred over time 153,415 41,647 656,138 32,989 884,189 6,336,035 4,603,964 1,225,861 2,583,924 14,749,784
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– 12 – For the six months ended 30 June 2025 Segments Mining equipment Logistics equipment Oil & Gas equipment Emerging industry equipment Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Types of goods or services Sale of industrial products 4,565,867 3,621,061 1,041,277 1,970,527 11,198,732 Construction services — — — 584,109 584,109 Sale of electricity — — — 26,254 26,254 Installation services — 24,833 — — 24,833 Oil field service — — 276,105 — 276,105 Maintenance services and others 70,924 34,504 7,584 13,513 126,525 4,636,791 3,680,398 1,324,966 2,594,403 12,236,558 Geographical markets Chinese mainland 3,016,460 1,387,011 1,324,966 2,489,222 8,217,659 Asia (excluding Chinese mainland) 691,921 720,558 — 36,159 1,448,638 Europe 354,308 522,178 — — 876,486 Africa 335,463 401,138 — 48,958 785,559 United States of America — 285,822 — — 285,822 Brazil 109,010 148,732 — — 257,742 Other countries/regions 129,629 214,959 — 20,064 364,652 4,636,791 3,680,398 1,324,966 2,594,403 12,236,558 Timing of revenue recognition Goods transferred at a point in time 4,565,867 3,638,701 1,041,277 1,996,781 11,242,626 Services transferred over time 70,924 41,697 283,689 597,622 993,932 4,636,791 3,680,398 1,324,966 2,594,403 12,236,558
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– 13 – Other income and gains For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Other income Bank interest income 65,189 118,623 Other interest income 89,244 29,191 Government grants 184,804 293,842 Rental income 2,737 7,166 Profit from sale of scrap materials 21,918 21,511 Foreign exchange differences, net — 45,859 Compensation income 21,494 9,866 Others 8,931 8,472 394,317 534,530 Gains Gain on disposal of items of property, plant and equipment 29,803 — Fair value gain, net: Financial assets at fair value through profit or loss — mandatorily classified as such 101,111 59,530 Derivative instruments — transactions not qualifying as hedges 436 44 131,350 59,574 525,667 594,104
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– 14 – 5. PROFIT BEFORE TAX The Group’s profit before tax is arrived at after charging/(crediting): For the six months ended 30 June 2026 2025 RMB’000 RMB’000 Notes (Unaudited) (Unaudited) Cost of inventories sold 10,980,004 8,919,939 Cost of services provided 419,932 330,587 Depreciation of property, plant and equipment 10 451,218 394,051 Amortisation of intangible assets 104,805 96,531 Depreciation of investment properties 2,510 — Depreciation of right-of-use assets 53,664 42,148 Auditors’ remuneration 660 610 Provision of warranties* 87,652 61,282 Research and development costs** 733,799 701,742 Lease payments not included in the measurement of lease liabilities 27,662 23,195 Impairment of property, plant and equipment*** 10,832 — Employee benefit expenses (including directors and chief executive’s remuneration): Wages and salaries 1,161,708 1,018,421 Share option and share award expenses 55,071 65,868 Employee retirement benefits***** 57,980 47,805 Other staff welfare 35,374 30,868 1,310,133 1,162,962 Foreign exchange differences, net*** 82,055 (45,859) Impairment of financial and contract assets, net****: Impairment of trade receivables, net 11 124,614 85,534 Reversal of impairment of contract assets, net (5,036) (115) Impairment of other receivables, net 2,692 8,427 122,270 93,846 Provision against slow-moving and obsolete inventories* 2,920 26,068 Gain on disposal of items of property, plant and equipment*** (29,803) — Loss on disposal of items of property, plant and equipment*** 4,059 801 Gains from sales of scrap materials*** 4 (21,918) (21,511) Loss on sale of materials*** 62,706 — Remeasurement of financial guarantee contracts*** 9,881 (3,412) Fair value gains, net***: Financial assets at fair value through profit or loss — mandatorily classified as such (101,111) (59,530) Derivative instruments — transactions not qualifying as hedges (436) (44) (101,547) (59,574)
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– 15 – The Group’s profit before tax is arrived at after charging/(crediting): (continued) * Included in “Cost of sales” in the interim condensed consolidated statement of profit or loss ** Included in “Administrative expenses” in the interim condensed consolidated statement of profit or loss *** Included in “Other income and gains” or “Other expenses” in the interim condensed consolidated statement of profit or loss **** Included in “Impairment losses on financial and contract assets, net” in the interim condensed consolidated statement of profit or loss ***** As at 30 June 2026, the Group had no forfeited contributions available to reduce its contributions to the pension schemes in future years (2025: Nil) 6. FINANCE COSTS For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Interest on interest-bearing bank and other borrowings 132,398 115,226 Interest on discounted bills 8,064 5,407 Interest on lease liabilities 2,883 1,413 143,345 122,046 7. INCOME TAX Hong Kong profits tax has been provided at the rate of 16.5% (six months ended 30 June 2025: 16.5%) on the estimated assessable profits arising in Hong Kong during the period, except for the Company which is a qualifying entity under the two-tiered profits tax rates regime. The first HK$2,000,000 (2025: HK$2,000,000) of assessable profits of the Company are taxed at 8.25% (2025: 8.25%) and the remaining assessable profits are taxed at 16.5% (2025: 16.5%). Taxes on profits assessable elsewhere have been calculated at the rates of tax prevailing in the countries or jurisdictions in which the Group operates. Pursuant to the PRC Income Tax Law and the respective regulations, the companies of the Group which operate in the Chinese mainland were subject to Corporate Income Tax (“CIT”) at a rate of 25% on their respective taxable income for the six months ended 30 June 2026, except for those which were subject to tax concessions as set out below: — Entities that qualified as high-technology enterprises under the tax law were entitled to a preferential income tax rate of 15%; and — Qualified entities that registered in Hengqin District of Zhuhai, a pilot free trade zone in the PRC, were entitled to a preferential income tax rate of 15%.
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– 16 – For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Current — Hong Kong profits tax Charge for the period 30,010 37,450 Current —Elsewhere 23,827 3,413 Current — Chinese mainland Charge for the period 395,438 304,871 Underprovision in prior years 50,350 25,042 Deferred (116,350) 42,288 Total tax charge for the period 383,275 413,064 8. DIVIDEND The final dividend for the year ended 31 December 2025 of HK$0.35 per share, totaling HK$1,319,325,000 (equivalent to RMB1,147,088,000), was approved by the Company’s shareholders at the annual general meeting on 28 May 2026, among which HK$476,924,000 (equivalent to RMB423,266,000) was distributed during the six months ended 30 June 2026, and the remaining amount of HK$842,401,000 (equivalent to RMB739,941,000) was recorded in “dividend payable” in the consolidated statement of financial position as at 30 June 2026. The board does not recommend the payment of any interim dividend for the six months ended 30 June 2026 (six months ended 30 June 2025: Nil). Dividend payable A special dividend of HK$0.18 per share, totalling HK$633,746,000, was approved by the board of directors on 23 January 2018. HK$547,505,000 of the dividend was subsequently distributed during the year ended 31 December 2018 and the remaining amount of HK$86,241,000 (equivalent to RMB75,752,000) was recorded in “dividend payable” in the consolidated statement of financial position as at 30 June 2026. 9. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT (a) Basic earnings per share The calculation of the basic earnings per share amounts is based on the profit for the six months ended 30 June 2026 attributable to ordinary equity holders of the parent of RMB1,217,566,000 (six months ended 30 June 2025: RMB1,294,383,000), adjusted to reflect the distribution to convertible preference shares, and the weighted average number of ordinary shares of 3,274,474,379 (six months ended 30 June 2025: 3,219,495,038) outstanding during the period.
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– 17 – (b) Diluted earnings per share The calculation of the diluted earnings per share amounts is based on the profit for the six months ended 30 June 2026 attributable to ordinary equity holders of the parent of RMB1,217,566,000 (six months ended 30 June 2025: RMB1,294,383,000). The weighted average number of ordinary shares used in the calculation is the number of ordinary shares outstanding during the period, as used in the basic earnings per share calculation plus the weighted average number of ordinary shares, totaling 503,033,414 (six months ended 30 June 2025: 491,274,444), assumed to have been issued at no consideration on the deemed exercise of share options or conversion of convertible preference shares and share awards into ordinary shares. 10. PROPERTY, PLANT AND EQUIPMENT 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Carrying amount at 1 January 8,442,147 7,989,762 Additions 699,126 1,675,419 Disposals (69,357) (371,530) Depreciation provided during the period/year (note 5) (451,218) (828,426) Impairment (10,832) (23,078) Carrying amount at 30 June/31 December 8,609,866 8,442,147 11. TRADE AND BILLS RECEIVABLES 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Trade receivables 15,865,484 12,899,286 Impairment (1,037,523) (915,515) 14,827,961 11,983,771 Less: Trade receivables due after one year (1,545,631) (1,113,884) 13,282,330 10,869,887 Bills receivable 753,304 1,139,411
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– 18 – The Group generally requires its customers to make payments at various stages of the sales transactions, however, the Group grants certain credit periods to old customers with a good payment history. The credit periods of individual customers are considered on a case-by-case basis and are set out in the sales contracts, as appropriate. The Group seeks to maintain strict control over its outstanding receivables. Overdue balances are reviewed regularly by senior management. At the end of the reporting period, the Group had a certain concentration of credit risk as 2% (31 December 2025: 4%) of the Group’s trade receivables due from a single third party customer, including a group of entities which are known to be under common control with that customer. Included in the trade receivables were amounts due from fellow subsidiaries of RMB3,445,614,000 (31 December 2025: RMB2,552,103,000) and the Group’s joint ventures of RMB16,609,000 (31 December 2025: RMB12,650,000) as at 30 June 2026 for sales of products by the Group, which accounted for 22% (31 December 2025: 20%) of the Group’s trade receivables at the end of the reporting period. Trade receivables are non-interest-bearing. An ageing analysis of the trade receivables as at the end of the reporting period, based on the invoice date and net of loss allowance, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within 180 days 9,481,545 7,662,865 181 to 365 days 3,211,153 2,595,214 1 to 2 years 1,735,535 1,402,637 2 to 3 years 366,328 296,062 Over 3 years 33,400 26,993 14,827,961 11,983,771 The movements in the loss allowance for impairment of trade receivables are as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) At 1 January 915,515 718,022 Impairment losses, net (note 5) 124,614 217,231 Amount written off as uncollectible (2,606) (19,738) At 30 June/31 December 1,037,523 915,515 An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., by geographical region, product type, customer type, and coverage of credit insurance). The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting
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– 19 – date about past events, current conditions and forecasts of future economic conditions. Generally, trade receivables are written off if past due for more than one year and are not subject to enforcement activity. Bills receivable have been classified as financial assets at fair value through other comprehensive income. The maturity profile of the bills receivable of the Group as at the end of the reporting period is as follows: Included in the bills receivable was an amount of nil as at 30 June 2026 (31 December 2025: RMB58,952,000) which was pledged for the issuance of a letter of guarantee. 12. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Unlisted investments, at fair value Current 4,943,291 3,060,345 Non-current 155,000 107,500 5,098,291 3,167,845 The current unlisted investments were wealth management products issued by banks and other financial institutions in Chinese mainland. The non-current unlisted investments are investments in a limited liability partnership and a limited liability company in Chinese mainland. They were classified as financial assets at fair value through profit or loss as their contractual cash flows are not solely payments of principal and interest. 13. TRADE AND BILLS PAYABLES An ageing analysis of the trade and bills payables as at the end of the reporting period, based on the invoice date, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within 30 days 4,983,455 4,981,436 31 to 90 days 4,968,036 2,777,998 91 to 180 days 3,131,736 2,634,827 181 to 365 days 1,014,160 1,277,351 Over 1 year 532,509 454,528 14,629,896 12,126,140 The trade payables are non-interest-bearing and are normally with credit terms of 30 to 180 days. The bills payable are normally due within 180 days.
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– 20 – Included in the trade and bills payables was an amount due to fellow subsidiaries in aggregate of RMB1,132,333,000 as at 30 June 2026 (31 December 2025: RMB1,205,751,000) for purchasing raw materials by the Group. 14. INTEREST-BEARING BANK AND OTHER BORROWINGS 30 June 2026 31 December 2025 (Unaudited) (Audited) RMB’000 RMB’000 Current Bank loans — secured 3,104,628 2,873,708 Bank loans — unsecured 581,235 475,175 Other borrowings — secured 728,000 570,000 Other borrowings — unsecured 279,575 279,405 Interest payable 62,391 70,413 4,755,829 4,268,701 Non-current Bank loans — secured 4,906,368 5,027,378 Bank loans — unsecured 689,341 798,779 Other borrowings — secured 911,974 912,879 Other borrowings — unsecured 48,653 52,984 6,556,336 6,792,020 (a) As at 30 June 2026, RMB505,000,000 and RMB104,143,000 of the Group’s bank loans were secured by mortgages over the Group’s leasehold land of RMB661,241,000 (31 December 2025: RMB669,306,000) and the Group’s right of electricity charge of RMB341,814,000 (31 December 2025: RMB64,550,000). (b) As at 30 June 2026, Sany Group Co., Ltd. had guaranteed certain of the Group’s bank loans up to RMB9,010,996,000 as at the end of the reporting period (31 December 2025: RMB8,701,086,000). (c) As at 30 June 2026 and 31 December 2025, all borrowings were denominated in RMB. (d) Other borrowings of RMB271,000,000 (31 December 2025: RMB271,000,000) were due to Sany Group Co., Ltd. and were repayable on demand. Other borrowings of RMB57,228,000 (31 December 2025: RMB61,389,000) were due to Sany Financial Leasing Co., Ltd. and were repayable by 96 monthly equal instalments commencing on 15 October 2023. Other borrowings of RMB1,239,974,000 (31 December 2025: RMB1,482,879,000) were due to Industrial Bank Financial Leasing Co., Ltd. repayable by 1 to 3 years and secured by the Group’s right of electricity charge. Other borrowings of RMB400,000,000 (31 December 2025: nil) were due to China Merchants Finance Leasing (Tianjin) Co., Ltd. repayable by 1 to 12 years and guaranteed by Sany Group Co., Ltd.
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– 21 – 15. SHARE CAPITAL 30 June 2026 31 December 2025 HK$’000 HK$’000 (Unaudited) (Audited) Authorised: 4,461,067,880 (31 December 2025: 4,461,067,880) ordinary shares of HK$0.10 each 446,107 446,107 538,932,120 (31 December 2025: 538,932,120) convertible preference shares of HK$0.10 each 53,893 53,893 Total authorised capital 500,000 500,000 Issued and fully paid: 3,289,720,239 (31 December 2025: 3,232,417,929) ordinary shares of HK$0.10 each 328,972 323,242 479,781,034 (31 December 2025: 479,781,034) convertible preference shares of HK$0.10 each 47,978 47,978 Total issued and fully paid capital 376,950 371,220 Equivalent to RMB’000 324,186 319,097 On 19 December 2014, the Company issued 479,781,034 convertible preference shares (“CPS”) of HK$0.10 each at an issue price of HK$2.009 per share. Each CPS is convertible into one ordinary share of the Company at any time after issuance (subject to standard anti-dilution adjustments) and has the same right as ordinary shares to receive dividends declared and other distribution made. The CPS are redeemable by the Company at any time after the third anniversary of the date of the issue of the CPS at the issue price or the fair market value of the CPS, whichever the higher. The holders of CPS are entitled to a preferred distribution at the rate of 0.01% per annum on the issue price.
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– 22 – A summary of movements in the Company’s share capital is as follows: Number of convertible shares Number of ordinary shares Share capital Equivalent to HK$’000 RMB’000 At 31 December 2025 479,781,034 3,232,417,929 371,220 319,097 Issue of shares — 57,302,310 5,730 5,089 At 30 June 2026 479,781,034 3,289,720,239 376,950 324,186 During the six months ended 30 June 2026, 26,020,040 new ordinary shares were issued for the share options exercised, and 31,282,270 new ordinary shares were issued for the share awards. Cash proceeds of approximately HK$171,193,000 (equivalent to approximately RMB153,919,000) were received with no transaction costs borne by the Company, and related share option reserve of approximately RMB86,465,000 was transferred to share premium accordingly. During the six months ended 30 June 2025, 16,813,599 new ordinary shares were issued for the share awards and no cash proceeds was received, and related share-based compensation reserve of approximately RMB13,630,000 was transferred to share premium accordingly. 16. COMMITMENTS The Group had the following capital commitments as at the end of the reporting period: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Buildings 52,603 249,233 Plant and machinery 422,813 450,560 475,416 699,793
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– 23 – MANAGEMENT DISCUSSION AND ANALYSIS Major Products The Group divides its products into four categories, namely (1) mining equipment, which includes coal mining machinery products, non-coal mining machinery, mining vehicle equipment and smart mine products; coal mining machinery products include roadheaders (all types of all-rock and semi coal-rock roadheader and integrated excavation, bolting and self-protection machine) and mining equipment (shearer, hydraulic support system, scraper conveyor etc.); non-coal mining machinery products, such as tunnel roadheader and mining machine; mining vehicle products, such as mining transport equipment (mechanical drive off-highway dump truck and electric drive off highway dump truck) and widebodied vehicle and other relevant products; and smart mine products, such as unmanned driving, automated integrated mining and smart mine operation systems; (2) logistics equipment, which includes container equipment (including small port machinery such as front loader, stacking machine, etc., and large port machinery such as quayside gantry crane, etc.), bulk material equipment (gripper, elevated hoisting arm, etc.) and general equipment (heavy-weight forklift, telehandler, etc.); (3) oil and gas equipment, such as frac spreads, drilling and workover and automated pipe handling equipment, construction services and oil and gas field technical services; and (4) emerging industries, such as solar modules, hydrogen production equipment, power battery modules and energy storage systems. Business Review In the first half of 2026, the global economy experienced a moderate recovery, while the Chinese economy continued its steady and progressive development. The Group continued to advance its operating strategy of globalization, digital intellectualization and low-carbonization, driving steady business growth of the Group. The Group achieved revenue of RMB14,749.8 million, representing a year-on-year increase of 20.5%. Net cash flow from operating activities amounted to RMB545.0 million, representing a year-on- year increase of 47.9%, indicating continued improvement in operational quality. The Group has continuously optimised its inventory and trade and bills receivables management, with improvements in inventory turnover days and turnover days of trade receivables and notes receivable, reflecting enhanced operational efficiency. The Group made steady progress in globalization, deepening its worldwide presence with steadily growing international revenue. In the first half of 2026, the international revenue reached RMB6,812.1 million, representing a year-on-year increase of 69.5%. International revenue from mining vehicle equipment, large port machinery and small port machinery continued to grow. The Group’s core products maintained a solid market share, with products such as roadheaders and small port machinery continuing to lead the domestic market, while mining vehicles and large port machinery continued to gain share in overseas markets. In the new energy product segment, electrified products including hybrid mining trucks, electric front loaders, electric stacking machines and electric trucks are developing rapidly, leading the industry’s electrification trend.
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– 24 – Looking ahead, the domestic and international economic environments remain complex and ever-changing, with market competition continuing to intensify and the pace of technological iteration accelerating. These conditions present both opportunities for transformation and development, as well as a host of formidable challenges. In the face of these challenges, the Group will remain committed to prudent operations and strengthen the foundation for high-quality development. We will continue to place operational quality in a more prominent position, firmly uphold the principle of prudent operation, and persistently drive lean operations. At the same time, the Group will stay focused on our strategic objectives, accelerate the transformation towards globalisation, digitalisation and lo w-carbonisation, and continue to be guided by technological innovation, strengthening innovation-driven development, accelerating breakthroughs in electrification and intelligence, and striving to establish itself as a leader in the mining equipment, logistics equipment and oil and gas equipment industries. FINANCIAL REVIEW Revenue For the six months ended 30 June 2026, the Group recorded revenue of approximately RMB14,749.8 million, representing an increase of approximately 20.5% as compared with approximately RMB12,236.6 million for the six months ended 30 June 2025. Such change was mainly due to (1) a significant increase in the Group’s revenue from mining equipment and large port machinery; (2) a significant increase in the international sales revenue as a result of the successful expansion into international markets. Other income and gains For the six months ended 30 June 2026, the Group’s other income and gains were approximately RMB525.7 million, representing a decrease of approximately 11.5% from approximately RMB594.1 million for the six months ended 30 June 2025. Such change was mainly due to the decrease in bank interest income and government grants. Cost of sales For the six months ended 30 June 2026, the Group’s cost of sales was approximately RMB11,490.5 million, representing an increase of approximately 23.1% from approximately RMB9,337.9 million for the six months ended 30 June 2025. Such change was mainly due to the increase in sales revenue of products. Gross profit margin For the six months ended 30 June 2026, the gross profit margin of the Group was approximately 22.1%, representing a decrease of approximately 1.6 percentage points as compared with approximately 23.7% for the six months ended 30 June 2025. Such change was mainly due to the increase in proportion of sales revenue from products with relatively lower gross profit margin.
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– 25 – Selling and distribution expenses For the six months ended 30 June 2026, the selling and distribution expenses of the Group were approximately RMB723.0 million, representing an increase of approximately 25.5% as compared with approximately RMB576.3 million for the six months ended 30 June 2025. For the six months ended 30 June 2026, the ratio of the Group’s selling and distribution expenses to revenue was approximately 4.9%, representing an increase of approximately 0.2 percentage points as compared with approximately 4.7% for the six months ended 30 June 2025. Such change was mainly due to the increase in marketing and business development investments in the emerging businesses. Research and development (“R&D”) costs For the six months ended 30 June 2026, the R&D costs of the Group were approximately RMB733.8 million, representing an increase of approximately 4.6% as compared with approximately RMB701.7 million for the six months ended 30 June 2025. For the six months ended 30 June 2026, the ratio of R&D costs to revenue was approximately 5.0%, representing a decrease of approximately 0.7 percentage points as compared with approximately 5.7% for the six months ended 30 June 2025. Such change was mainly due to the Group’s management reform of its R&D system, focusing on core product R&D, and further rationalisation of its investment in R&D resources. Administrative expenses For the six months ended 30 June 2026, administrative expenses of the Group were approximately RMB1,053.2 million (for the six months ended 30 June 2025: approximately RMB985.7 million). The administrative expenses excluding R&D expenses were approximately RMB319.4 million (for the six months ended 30 June 2025: approximately RMB284.0 million), which accounted for approximately 2.2% of the revenue, representing a decrease of 0.1 percentage points as compared with approximately 2.3% for the six months ended 30 June 2025. Such change was mainly due to the Group’s implementation of lean operations and enhancement of management efficiency. Finance costs For the six months ended 30 June 2026, finance costs of the Group were approximately RMB143.3 million, representing an increase of approximately 17.5% as compared with approximately RMB122.0 million for the six months ended 30 June 2025. Such change was mainly due to the increase in bank borrowings to meet the development needs of the emerging businesses of the Group.
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– 26 – Profit margin before tax For the six months ended 30 June 2026, the Group’s profit margin before tax was approximately 10.6%, representing a decrease of approximately 3.4 percentage points as compared with approximately 14.0% for the six months ended 30 June 2025. Such change was mainly attributable to (1) the decrease in gross margin; (2) the decrease in government grants. Taxation For the six months ended 30 June 2026, the Group’s effective tax rate was approximately 24.6% (for the six months ended 30 June 2025: the effective tax rate was approximately 24.2%). For details regarding income tax, please refer to note 7 on page 15 hereof. Profit attributable to owners of the parent For the six months ended 30 June 2026, the Group’s profit attributable to owners of the parent was approximately RMB1,217.6 million, which represents a decrease of approximately 5.9% as compared with approximately RMB1,294.4 million for the six months ended 30 June 2025. Further analysis is set out in the paragraphs headed “Revenue”, “Gross profit margin” and “Profit margin before tax”. Liquidity and financial resources As at 30 June 2026, total current assets of the Group were approximately RMB32,150.1 million (31 December 2025: RMB29,644.9 million). As at 30 June 2026, total current liabilities of the Group were approximately RMB26,332.0 million (31 December 2025: RMB23,118.8 million). As at 30 June 2026, total assets of the Group were approximately RMB47,952.4 million (31 December 2025: approximately RMB44,921.2 million), and total liabilities were approximately RMB34,633.0 million (31 December 2025: approximately RMB31,752.2 million). As at 30 June 2026, the gearing ratio (the net debt divided by the equity plus net debt) was approximately 67.1% (31 December 2025: approximately 63.9%).
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– 27 – Trade and bills receivables As at 30 June 2026, the Group’s gross balance of trade and bills receivables was approximately RMB16,618.8 million, representing an increase of approximately 18.4% as compared with approximately RMB14,038.7 million as at 31 December 2025, among which trade receivables were approximately RMB15,865.5 million, representing an increase of approximately 23.0% as compared with approximately RMB12,899.3 million as at 31 December 2025. Such change was mainly due to the increase in sales revenue. Bills receivables were approximately RMB753.3 million, representing a decrease of approximately 33.9% as compared with RMB1,139.4 million as at 31 December 2025. Such change was mainly due to the decrease in settlement by bills. Interest-bearing bank and other borrowings As at 30 June 2026, interest-bearing bank and other borrowings of the Group were approximately RMB11,312.2 million (31 December 2025: approximately RMB11,060.7 million). The main reason for the Group’s borrowing was to meet the Group’s development demands of emerging industries. As at 30 June 2026, the Group’s secured bank borrowings and other borrowings carried interests between 2.05% and 3.98% per annum (31 December 2025: between 1.8% and 3.5%) and the unsecured bank borrowings and other borrowings carried interests between 1.34% and 4.28% per annum (31 December 2025: between 1.95% and 4.35% per annum). Cash flow As at 30 June 2026, the Group’s cash and cash equivalents and time deposits with maturity of three months or more were approximately RMB4,311.1 million in total. For the six months ended 30 June 2026, the net cash inflow of the Group from operating activities was approximately RMB545.0 million (for the six months ended 30 June 2025: RMB368.4 million). Such change was mainly due to the increase in cash inflows from mining equipment. For the six months ended 30 June 2026, the net cash outflow of the Group from investing activities was approximately RMB2,025.9 million (for the six months ended 30 June 2025: net cash inflow of approximately RMB92.6 million). Such change was mainly due to the increase of purchase of wealth management products. For the six months ended 30 June 2026, the net cash outflow of the Group from financing activities was approximately RMB185.5 million (for the six months ended 30 June 2025: net cash inflow of approximately RMB460.5 million). Such change was mainly due to the decrease of net cash inflow from borrowings.
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– 28 – Turnover days As at 30 June 2026, the Group’s average turnover days of inventory were approximately 98 days, representing a decrease of approximately 8 days as compared with approximately 106 days as at 30 June 2025. Such change was mainly due to the Group’s acceleration in the disposal of aged inventory. As at 30 June 2026, the Group’s turnover days of trade and bills receivables were approximately 190 days, representing a decrease of approximately 14 days as compared with approximately 204 days as at 30 June 2025. Such change was mainly due to the Group’s implementation of stringent trade and bills receivables control measures and accelerated collection of receivables. As at 30 June 2026, the Group’s turnover days of trade and bills payable were approximately 213 days, representing a decrease of approximately 15 days over approximately 228 days as at 30 June 2025. Such change was mainly due to the Group’s accelerated settlement of payments to suppliers. Financial guarantee contracts The financial guarantee contracts represent guarantees given to financial institutions or finance lease companies in connection with facilities granted to the Group’s customers. As at 30 June 2026, an allowance of RMB64.2 million (31 December 2025: RMB54.3 million) was provided for the unsettled loans and lease amounts of RMB3,048.5 million (31 December 2025: RMB4,075.4 million). Save as disclosed above, the Group did not have other material contingent liabilities as at 30 June 2026. Capital commitment As at 30 June 2026, the contracted capital commitments of the Group which were not provided for in the Group’s financial statements were approximately RMB475.4 million (31 December 2025: approximately RMB699.8 million).
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– 29 – Employees and remuneration policy As at 30 June 2026, the Group employed a total of 8,457 full-time employees (31 December 2025: 7,982 employees), and the total employee remuneration expenses (including share option and share award expenses) amounted to RMB1,310.1 million. The Group persists in training and developing talents. Accordingly, it provides regular internal training, external training and corresponding courses to its staff according to their ranking, with an aim to improving their skills relevant to work and enhancing their sense of belonging. The Group pays year-end bonuses to staff to reward them for their contributions and dedication to the Group. In addition, the Group has implemented a share option scheme and a share award scheme for core employees to share the Company’s development results. The remuneration of the directors of the Group was determined according to their positions, responsibilities, experience and prevailing market conditions. Significant investments held, material acquisitions and disposals of subsidiaries, associates and joint ventures There were no significant investments held, nor any material acquisitions or disposals of subsidiaries, associates and joint ventures during the six months ended 30 June 2026. As at 30 June 2026, the Board had not authorised any plan for material investments or acquisitions of capital assets. Pledge on assets As at 30 June 2026, the Group recorded pledged bank deposits of approximately RMB336.9 million (31 December 2025: approximately RMB226.8 million) for the purpose of issuing security deposit for bank acceptance bills. As at 30 June 2026, the Group’s leasehold land of approximately RMB661.2 million (31 December 2025: approximately RMB669.3 million) and the Group’s right of electricity charge of approximately RMB341.8 million (31 December 2025: approximately RMB64.6 million) were pledged for the Group’s bank loans of approximately RMB505.0 million and approximately RMB104.1 million. Foreign exchange risk As at 30 June 2026, the Group’s cash and bank balances denominated in foreign currencies such as US$ and EUR were equivalent to approximately RMB2,354.2 million. The Group will monitor the risk exposures and consider hedging against material currency risk if and when necessary. IMPORTANT EVENTS AFTER THE REPORTING PERIOD The Group has no material events subsequent to 30 June 2026 and up to the date of this announcement.
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– 30 – SOCIAL RESPONSIBILITY In line with the national “dual carbon” strategy, the Group regards green development as the defining feature of its high-quality growth. It continues to drive innovation in digital- intelligent and low-carbon products. The SRT100S 100-tonne hybrid electric off-highway mining truck, pioneered by Sany Heavy Equipment Co., Ltd. (“ Sany Heavy Equipment ”), has been delivered to the mining site in Indonesia, supporting the low-carbon transformation of Indonesian mines. Sany Heavy Equipment’s pure-water hydraulic support system technology continues to advance, delivering higher efficiency, greater returns and more sustainable value for the coal mining industry. The world’s first 5G-enabled intelligent remote-controlled front loaders, jointly developed by Sany Marine Heavy Industry Co., Ltd. (“ Sany Marine Heavy Industry ”) and its client, has been put into operation, facilitating the intelligent upgrade of global ports. Sany Marine Heavy Industry successfully delivered a batch of STT4501E electric terminal tractors in Peru, offering new solutions for the green and smart transformation of local ports. The grid- direct-drive integrated electric logging vehicle for Sany Energy Equipment Co., Ltd., (“Sany Energy Equipment ”) has been officially delivered, marking a significant step towards the electrification and low-carbonisation of logging equipment. The iFrac, an intelligent fracturing system of Sany Energy Equipment has been successfully deployed, leveraging advanced technology to break efficiency bottlenecks in the industry, making unmanned and high-efficiency operations the new normal in oil and gas development. Sany Lithium Energy Co., Ltd. focuses on microgrid applications in extreme environments, delivering reliable green power to key mining and industrial parks in multiple countries. With the mission of “Quality Changes the World”, the Group has deeply integrated ESG principles into its three core strategies of globalisation, digitalisation and decarbonisation. We are committed not only to steady growth in business performance, but also to becoming a responsible enterprise that lives up to the expectations of our time, creating long-term and sustainable value for all stakeholders. CORPORATE GOVERNANCE The Company is committed to the establishment of good corporate governance practices and procedures with a view to being a transparent and responsible organization which is open and accountable to the shareholders. The Board strives to adhere to the principles of corporate governance and has adopted sound corporate governance practices to meet the legal and commercial standards, focusing on areas such as internal control, fair disclosure and accountability to all shareholders to ensure the transparency of all operations of the Company. The Company believes that effective corporate governance is an essential factor to create more value for its shareholders. The Board will continue to review and improve the corporate governance practices of the Group from time to time to ensure that the Group is led by an effective Board in order to maximize return for shareholders.
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– 31 – The Company has adopted the Corporate Governance Code (the “ CG Code ”) contained in Part 2 of Appendix C1 to the Rules Governing the Listing of Securities (the “ Listing Rules”) on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) as its own code on corporate governance. To the best knowledge of the Directors, the Company has complied with all applicable code provisions under the CG Code during the six months ended 30 June 2026. Compliance with the Model Code for Directors’ Securities Transactions The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the “ Model Code ”) as set out in Appendix C3 to the Listing Rules as its own code of conduct for securities transactions. Specific enquiries have been made of all Directors, who have confirmed that, during the six months ended 30 June 2026, they were in compliance with the required provisions set out in the Model Code. AUDIT COMMITTEE The audit committee of the Company (the “ Audit Committee ”) was established in compliance with Rules 3.21 and 3.22 of the Listing Rules, with written terms of reference in compliance with the CG Code. As at 30 June 2026, the Audit Committee comprised three members, namely Mr. Poon Chiu Kwok, Mr. Hu Jiquan and Mr. Yang Shuyong, all of whom are independent non-executive Directors. Mr. Poon Chiu Kwok, who has professional qualifications in accounting, was appointed as the chairman of the Audit Committee. The Audit Committee has convened meetings to discuss the auditing, internal controls, risk management and financial reporting matters, including the review of the unaudited interim financial statements of the Group for the six months ended 30 June 2026. REVIEW OF INTERIM FINANCIAL STATEMENTS The interim financial statements of the Group for the six months ended 30 June 2026 have not been audited or reviewed by the Company’s external auditor but have been reviewed by the Audit Committee before being recommended to the Board for approval. INTERIM DIVIDEND The Board resolved not to declare any interim dividend for the six months ended 30 June 2026 (six months ended 30 June 2025: Nil).
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– 32 – PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED SECURITIES For the six months ended 30 June 2026, neither the Company nor any of its subsidiaries had purchased, sold or redeemed any of the listed securities of the Company (including sale of treasury shares). As at 30 June 2026, the Company did not hold any treasury shares. PUBLICATION OF INFORMATION ON THE WEBSITES This announcement is published on the website of the Stock Exchange (www.hkexnews.hk) as well as the website of the Company (www.sanyhe.com). The interim report of the Company for the six months ended 30 June 2026 containing all the information required by the Listing Rules will be made available on the same websites and despatched to the shareholders (if requested) in due course. By the Order of the Board Sany Heavy Equipment International Holdings Company Limited Zhou Fugui Chairman Hong Kong, 26 August 2026 As at the date of this announcement, the executive Directors are Mr. Zhou Fugui, Mr. Liang Zaizhong, and Mr. Fu Weizhong, the non-executive Directors are Mr. Tang Xiuguo and Mr. Xiang Wenbo, and the independent non-executive Directors are Mr. Poon Chiu Kwok, Mr. Hu Jiquan, Mr. Yang Shuyong and Ms. Zhou Lan.