---
title: "In \"The Big Banks,\" Citigroup: SANY INT'L has made significant breakthroughs in expanding its customer base for mining trucks, raising the target price to 16 yuan"
description: "Citi released a research report stating that SANY INT'L has made significant breakthroughs in expanding new customers for mining trucks, with orders increasing to approximately RMB 3 billion. It is ex"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/275692291.md"
published_at: "2026-02-12T02:39:55.000Z"
---

# In "The Big Banks," Citigroup: SANY INT'L has made significant breakthroughs in expanding its customer base for mining trucks, raising the target price to 16 yuan

> Citi released a research report stating that SANY INT'L has made significant breakthroughs in expanding new customers for mining trucks, with orders increasing to approximately RMB 3 billion. It is expected that non-ferrous metal orders will account for 40% to 50%. Citi predicts that adjusted net profit will grow nearly fourfold from 2024 to 2027, with overseas markets contributing over 50%. The target price has been raised from HKD 13 to HKD 16, maintaining an "outperform" rating

Citi published a research report indicating that after a recent on-site visit to SANY INT'L (00631.HK), management stated that the company has made significant breakthroughs in expanding new customers for mining trucks.

As of January this year, SANY INT'L's orders for mining trucks have increased to approximately RMB 3 billion, with over half coming from hybrid rigid trucks and electric wheel trucks over 150 tons. The customer base has also expanded to non-coal mining enterprises, and the bank estimates that orders for non-ferrous metals will account for 40% to 50% this year.

Overall, Citi predicts that SANY INT'L's adjusted net profit will grow nearly fourfold from 2024 to 2027, with contributions from overseas markets exceeding 50%. The bank expects the company's annual compound growth rate in earnings to reach 54% by 2027, amounting to approximately RMB 4 billion. Citi raised SANY INT'L's target price from HKD 13 to HKD 16, reiterating a "Outperform" rating

### Related Stocks

- [00631.HK - SANY INT'L](https://longbridge.com/en/quote/00631.HK.md)
- [561330.CN - Guotai CSI Non-Ferrous Metal Kuangye Theme ETF](https://longbridge.com/en/quote/561330.CN.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.