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News EO
Nov 10, 2020 12:07 am ·

Sany among the Most Profitable Engineering Machinery Manufacturers in 2020

When looking at the engineering machinery industry’s first three quarters in 2020, we see an upward trend in its operating incomes. Although affected negatively by COVID-19, which led to an 11% decrease in operating income and a 26% drop in net profits in the first quarter, the subsequent work resumption gradually triggered more sales volumes. According to the third quarter’s report, the whole engineering machinery industry obtained operating incomes of about CNY 193.5 billion, an increase of 26.1%. When it comes to some specific firms, around ten firms’ net profits surpassed last year’s 90%. To be more precise, Sany, XCMG and ZOOMLION had the strongest effects during these periods, with a sum of operating income for CNY 133.69 billion, occupying 78.97% of the overall industry. Benefitting from operation in new construction projects and increasing equipment replacement demands, the engineering machinery industry is expected to keep climbing. Regarding Sany, it achieved the highest operating incomes among XCMG and ZOOMLION, or about CNY 58.69 for the first three quarters. Moreover, according to Sany’s financial report, it was the firm’s best performance since setting up, due to its having managed costs in a prudent manner.  Sany’s success is a result of its massive investment in machinery products and accessories, something which might still frame its competitiveness in the future.

News EO
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News EO
Oct 30, 2020 10:18 pm ·

Sany Expected to Achieve Over CNY 100 Bn Revenue in 2020

On October 29, Sany released its third-quarter financial report, showing that, from Q1 to Q3 2020, the company achieved CNY 78.89 billion, up 24.2% year-on-year, and gained CNY 12.45 billion net profit attributable to shareholders, up 34.69% year-on-year. Sany also generated CNY 11.02 billion in net operating cash flow, from Q1 to Q3 2020, up 33.16%. According to the report, the remarkable growth came from rapid infrastructure development, environmental protection, renewed demand growth and increasing product competitiveness. The net profit from the nine months has surpassed the full-year net profit of 2019, which was CNY 11 billion. Sany claimed the sales champion title for the past 10 years in the excavator market, while the sales of other products, such as concrete machinery, truck cranes and crawler cranes, are also increased steadily. It is expected that Sany will achieve over CNY 100 billion revenue in 2020, and keep winning a solid market position. Sany continues to speed up its digital transformation meanwhile. According to the company's official WeChat, Sany is reforming and upgrading its 20 lighthouse factories globally. In September 2020, the number of pumps produced by Sany No. 18 factory reached an industry historical high and became the first lighthouse factory that has high and stable production. According to its own marketers, Sany is leading the way in the birth of the 'lighthouse factories 2.0' era.

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