Photo/Sany Groups official WeChat Group
An insider with the groups securities unit explained that the trillion-yuan market value refers to the total of all listed companies under the group. The insider emphasized that the move is more of an internal incentive, rather than promise made to investors or the market.
According to public information, Sany Group was founded in 1989, and primarily engages in the manucturing of concrete machinery, excavation machinery, lifting machinery, road construction machinery, piling machinery, wind power equipment, port machinery, petroleum equipment, coal equipment, etc.
As long as the group achieves the ambitious goal, employees holding the commemorative coupon could get more than 500 million yuan as reward, each getting a bonus of 1 million yuan.
According to the official WeChat account of Sany Group on April 3, 575 beautifully crafted trillion-yuan-market-value commemorative coupons have been delivered to Sany Groups employees.
At present, it owns three listed companies with a total market cap of around 215.9 billion yuan, namely, Sany Heavy Industry (SH600031) with a market value of about -.21 billion yuan, Sany Heavy Equipment International Holdings Company Limited (HK00631) with a market value of 25.57 billion Hong Kong dollars, and Sany Renewable Energy (SH688349) with a market value of 36.51 billion yuan.
On February 28, the high-end equipment manucturers 67-year-old founder Liang Wengen proposed his third entrepreneurial goal of raising the companys market value to one trillion yuan.