New Stock News | SHANTUI submits application to Hong Kong Stock Exchange as the world's third-largest and China's largest bulldozer manufacturer

According to the Hong Kong Stock Exchange's disclosure on August 28, Shantui Construction Machinery Co., Ltd. (000680.SZ) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation as its sole sponsor. According to the prospectus, Shantui is a leader in the global bulldozer industry and a leading enterprise in the global construction machinery industry. The company is dedicated to the research, development, manufacturing, sales, and service of a full range of construction machinery and components, including bulldozers, excavators, loaders, road machinery, mining trucks, and concrete equipment, and aims to become a global leader in "smart construction solutions." According to Frost & Sullivan, based on sales in 2024, Shantui is the third-largest bulldozer manufacturer globally and the largest in China. In terms of sales, the company has maintained the top position in China's bulldozer sector for 21 consecutive years since 2004; according to the same source, the company's market share in China's bulldozer market has remained above 60% from 2010 to 2024. Since its establishment, Shantui has undertaken the historical mission of localizing high-power bulldozers in China, fundamentally changing the situation where all high-power bulldozers in China relied on imports, filling the gap for bulldozers with over 180 horsepower domestically. According to Frost & Sullivan, the company has led multiple industry breakthroughs, including the development of China's largest horsepower bulldozer, China's first unmanned bulldozer, the world's first pure electric new energy bulldozer, and the world's first AI bulldozer. Leveraging its technological capabilities accumulated in the high-power and high-end bulldozer sectors, and relying on the leading advantages of its controlling shareholder, Shandong Heavy Industry Group's "golden industrial chain," Shantui continues to enrich its product matrix, building a complete industrial value chain that includes a full range of construction machinery main products + components + smart construction solutions. Shantui actively embraces international opportunities. As of June 30, 2025, the company has established 10 overseas subsidiaries globally, with a sales and service network covering over 160 countries and regions. In 2024, overseas revenue accounted for 52.1% of the company's total revenue, further increasing to 55.7% for the six months ending June 30, 2025, making it a leading enterprise in China's construction machinery going global. In terms of finance, for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, Shantui achieved revenues of approximately RMB 11.37 billion, RMB 11.364 billion, RMB 14.219 billion, and RMB 7.004 billion, respectively; during the same period, net profits were RMB 248 million, RMB 796 million, RMB 1.114 billion, and RMB 577 million, respectively. ![image.png](https://img.zhitongcaijing.com/image/20250828/1756370427930132.png? x-oss-process=image/format,jpg/quality,q_80)