Clifford Chance advises SANY Heavy Industry on its US$1.7 billion IPO and listing in Hong Kong
28 October 2025
Clifford Chance advises SANY Heavy Industry on its US$1.7 billion IPO and listing in Hong Kong
Global law firm Clifford Chance has advised SANY Heavy Industry (SANY) on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange, raising over US$1.7 billion.
Chair of China Practice and partner Tim said, “We are proud to have advised SANY on its landmark H-share listing in Hong Kong – one of the largest so far this year, with strong support from cornerstone investors. SANY is a great example of how successful Chinese companies are turning to Hong Kong's capital markets to accelerate global expansion, and demonstrates our depth of experience in supporting them through that journey."
Tim co-led the deal with partners Jean Thio and Tianning Xiang, and with support from a combined Clifford Chance He Ping* team including Head of Capital Markets Lorna Lyu+, senior associates Joy Chen and April Zhang, associates Cathy Qian, Xiao Tang, Daisy Wang and Yao Han+ and trainee solicitor Cian Fang, Qianqian Bai and Ruiyi Chen.
SANY, founded in 1994, has established itself as an innovation-driven global leader in the construction machinery industry. SANY is dedicated to the R&D, manufacturing, sales and servicing of an extensive portfolio of construction machinery, including excavating machinery, concrete machinery, hoisting machinery, piling machinery and road machinery. SANY is the world’s third largest and China’s largest construction machinery company in terms of core construction machinery’s cumulative revenue from 2020 to 2024. SANY has been listed on the Shanghai Stock Exchange since 2003.
Clifford Chance has advised on the successful A+H share listings of several Mainland China-listed companies, most recently with the listings of SICC, Anjoy Foods Group and Zhejiang Sanhua Intelligent Controls.
* Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.
+ From Shanghai He Ping Law Firm
高伟绅助力三一重工17亿美元香港IPO和上市
国际领先律师事务所高伟绅就三一重工股份有限公司 （“三一重工”）在香港联交所主板的首次公开发行和上市，担任三一重工的国际法律顾问。本次IPO募资超17亿美元。
三一重工成立于1994年，是创新驱动的全球工程机械行业领军企业。三一重工专注于挖掘机械、混凝土机械、起重机械、桩工机械及路面机械等全系列工程机械产品的研发、制造、销售及服务。按2020年至2024年核心工程机械产品的累计收入计算，三一重工是全球第三大及中国最大的工程机械企业。三一重工于2003年上交所主板上市。
高伟绅中国业务主席王彦峰表示："我们很荣幸助力三一重工成功完成H股上市，这标志着A+H股上市热潮持续升温。本次交易进一步巩固了高伟绅在助力内地知名企业完成复杂跨境股票发行领域的领先地位。”
高伟绅中国业务主席王彦峰与合伙人张珮真、向天宁共同牵头本交易，和平高伟绅联营办公室*团队为本交易提供服务。主要团队成员包括吕娜†、陈嘉烨、张文君、钱超、唐潇、王丹昫、韩耀†、方思洋、梁梦琳、白千千、陈睿怡。
高伟绅近期成功助力多家A股上市公司登陆香港交易所，其中包括天岳先进, 安井食品及三花智控等。
