Country for PR: China
Contributor: PR Newswire Asia (China)
Friday, November 16 2018 - 13:30
AsiaNet
SANY Heavy Industry releases the performance report of the third quarter
CHANGSHA, China, Nov. 16, 2018 /PRNewswire-AsiaNet/ --

On October 23, SANY Heavy Industry CO., LTD. (hereinafter referred to as SANY 
Heavy Industry) released its performance report of the third quarter. The 
company's net profits attributable to shareholders are expected to be 4.68 
billion yuan to 5.04 billion yuan in the first three quarters of 2018, an 
increase of 2.88 billion yuan to 3.24 billion yuan from the same period last 
year, year-on-year growth of 160 percent to 180 percent. In the first three 
quarters, the deducted non-net profit was 4.945 billion yuan to 5.409 billion 
yuan, year-on-year growth of 220 percent to 250 percent. 

Photo - https://photos.prnasia.com/prnh/20181115/2301359-1
Photo caption:SANY hoisting machinery

Benefitting from infrastructure construction projects, equipment renewal and 
environment protection, the sales of the company's excavating machinery, 
concrete machinery and hoisting machinery have achieved robust growth by 
further expanding their market shares. 

From January to September, SANY Heavy Industry has sold 35,000 excavators in 
the domestic market, ranking No.1 in the industry. In the first half year, the 
company's net operating cash flow reached 6.21 billion, the highest record in 
the same period. 

According to an analyst of Zhongtai Securities, the company's healthy financial 
situation offers more space for its further development. As a leading 
enterprise in China's construction machinery industry, SANY will see 
sustainable growth in excavator sales and dynamic revival in concrete machinery 
sales. 

Continuous breakthroughs in overseas market 

In recent years, SANY Heavy Industry took many efforts to push forward its 
international market strategy. In the first half year, the company achieved 
overseas sales revenue of 6.092 billion yuan.

Additionally, it recruits local staff in overseas countries to better 
understand and service for local market. On September 13, SANY America 
manufactured the 2,000th excavator. On September 25, SANY India rolled out the 
first 37-meter Truck-mounted Concrete Pump manufactured in India, which 
symbolizes a new milestone of the localized production of SANY's overseas 
branch companies. 

Presidents of Ghana and Guinea-Bissau visited SANY during the Investing in 
Africa Forum held in Changsha in September. Since its entry into the African 
market, SANY has exported more than 10 billion yuan worth of equipment to 
Africa.

Intelligent manufacturing further enhances market competitiveness

Since the beginning of this year, SANY Heavy Industry has been taking many 
efforts in business innovation and transformation, getting remarkable 
achievements in digitalization and intelligentialization for marketing, 
service, R&D, supply chain and financial affairs. Through the application of 
Internet of Things, SANY's No.18 factory grew significantly in per capita 
efficiency and output. 

The company continuously increases investment in scientific research. In the 
first half year of 2018, it invested 1.426 billion yuan and rolled out the 
SY155H mining excavator and SAC2200T all-terrain crane. What's more, SANY Heavy 
Industry is expanding its business to firefighting, environment protection and 
other new fields. 

SANY's brand has been widely received by the public and industry. SANY ranks 
91st of the top 500 Chinese private enterprises in 2018, the highest ranked 
enterprise in professional equipment manufacturing industry. SANY ranks 9th on 
the list of "the most admired Chinese companies in 2018" released by the 
Fortune (Chinese Edition), taking the lead among construction machinery 
enterprises. 

For more details, please call:
Global clients: 0086-731-85835199
Australian clients: 1800 GO SANY (1800 467 269) 
Official website: www.sanyglobal.com  
Email: sales31@sanygroup.cn  
Follow us on: 
Facebook: SANY Group 
WeChat: SanyWorldwide

SOURCE: SANY