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Sany Heavy Industry Net Profit Soars by 932.6%!

Tracy Zhang
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Sany Heavy Industry Net Profit Soars by 932.6%!

On October 31, Sany Heavy Industry released its 2017 Q3 financial report. In the first three quarters of 2017, the company achieved operating revenues of 28.159 billion yuan, up 70.8 percent year on year; a net profit of 1.803 billion yuan attributable to the shareholders of the listed company, up 932.6 percent year on year; and a record net operational cash flow of 6.88 billion yuan.

This year Sany's main product sales soared on factors including equipment renewal, infrastructural construction and "Belt and Road" construction compared to the same period of last year. Sany enjoyed a safe lead in the industry in sales, market share, exports and other indicators in the first three quarters, and is expected to achieve record annual sales throughout the year. Sany secured its position as the world's number one concrete machinery brand. The market share of Sany's hoisting machinery, piling machinery and other products grew steadily. Sany led the industry in the market share of 100t+ truck cranes and 50t+ crawler cranes.

Besides, Sany constantly tightened cost control, improved its capability of financial optimization and continued to improve its business quality. In the first three quarters, Sany's net operating cash flow was 6.88 billion yuan, exceeding its previous best in 2010. In terms of profitability, Sany posted a gross profit margin of 30.7 percent in the third quarter, up 5.7 percent year on year, and the profitability of its primary business soared.

Meanwhile, Sany deepened its operations on the "Belt and Road", pressed ahead with the transformation of its internationalized marketing system, adjusted its overseas sales agencies and their responsible regions, continued to improve the business quality of its overseas regions, and grew fast in India, Europe, the Middle East, the Asia Pacific region and other regions. In the first half of this year, Sany advanced its international operations steadily and achieved overseas sales of 5.799 billion yuan, up 25.9 percent year on year, leading the industry. Also, Sany appeared on the first "Top 50 Influential 'Belt and Road' Enterprises" list released by the State Information Center as the only construction manufacturer listed.

Within the reporting period, Sany developed innovatively and achieved significant results in business transformation. While operating its core business-construction machinery, Sany explored business transformation, and made new progress in the military industry, environmental protection, fire fighting and other fields.

This June the first fire truck independently developed and manufactured by Sany rolled off the line in Changsha. In the same period, the leading environmentally-friendly and water-conserving intelligent slag truck developed by Sany was serialized, went into mass production and went on sale in more than 20 domestic provinces.

According to industry insiders, the construction machinery industry will remain promising beyond expectation. As one of the world's most competitive construction machinery manufacturers, Sany Heavy Industry will stay ahead in the industry.

Sany Heavy Industry Net Profit Soars by 932.6%!

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