(Steady international business growth brought
overseas revenue accounting for 62.23% of its core business
revenue)
SHANGHAI, Sept. 9, 2024 /PRNewswire/ -- SANY Heavy
Industry (SANY) announced its 2024 half-year financial report on
August 30. The company reported
38.74 billion yuan (5.45 billion USD) in operating revenue for H1
2024, down 1.95% year-on-year, while the net profit attributable to
shareholders of listed companies increased by 4.80% to 3.57 billion yuan (503
million USD).
Despite the challenging global market, the company, insisting on
the principle of "high-quality development", achieved a surge in
net cash flow from operating by 2,204.61% to 8.44 billion yuan (1.19
billion USD).
Rapid international growth
In the first half part of 2024, SANY further drove globalization
by expanding the global R&D and manufacturing layout, enhancing
the aftermarket construction, and building sustainable capabilities
for global operations.
In the H1 of this year, SANY saw sustainable growth in its
international revenue. The company recorded an international sales
revenue for the main business of 23.54
billion yuan (3.31 billion
USD), marking a year-on-year growth of 4.79% and accounting
for 62.23% of its main business revenue.
Among these, the African region boasted a notable year-on-year
increase of 66.71% to 2.31 billion
yuan (325 million USD), while
the Asia and Australia region contributed 9.17 billion yuan (1.29
billion USD), rising 2.55%. The European region generated
8.27 billion yuan, a stable growth of
1.08%, and the Americas market brought in 3.79 billion yuan, down by 4.19%.
Leading the decarbonization transition
In 2024, SANY has escalated its R&D efforts in new energy
products. As of now, more than 80 new energy products have been
listed this year with multiple ones achieving breakthroughs in the
market. For instance, the SW956E electric wheel loader gained an
order of 200 units from Indonesia
with its advanced energy-saving technology, including
self-developed VCU and Intelligent variable frequency air
conditioner.
In terms of technology R&D, SANY has obtained about 30
granted patents related to low-carbon technologies, including the
industrial first P2-MT hybrid power technology that reduces power
interruptions during gear shifting in heavy-duty vehicles and
achieves considerable fuel savings through rational calibration of
the software, filling the technology gap for hybrid products.
Significant R&D and innovation results
Guided by the strategy of "Globalization, Digitalization,
Decarbonization", SANY significantly invested in R&D. In the
first half year of 2024, the company allocated 2.61 billion yuan (367
million USD) in R&D. SANY owned 6,320 R&D personnel,
39% of whom hold postgraduate degrees or higher.
Regarding intellectual property, SANY applied for 575 patents,
with 357 being invention patents and 351 granted.
Additionally, SANY has released a number of innovative products
in the H1 2024, including the SY2000 mining excavator, the third
generation RC medium excavator, the 33-meter pump truck, and the
STC2000C8-8 truck crane.
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