SANY Heavy Industry Reports Mixed Half-Year Results for 2024

SANY Heavy Industry announced its financial results for the first half of 2024, revealing a slight decline in operating revenue, but an increase in net profit. The company reported a revenue of 387.38 billion yuan ($5.45 billion USD), down 1.95% compared to the same period in 2023. However, net profit rose by 4.80% to 35.73 billion yuan ($503 million USD), driven by strategic investments in global expansion and R&D.

Despite challenges in the global market, SANY achieved significant growth in international sales, which now make up more than 62% of its main business revenue. The African market saw a notable increase of 66.71%, while other regions such as Asia, Australia and Europe also experienced growth. However, the American market saw a slight decline of 4.19%.

SANY's focus on new energy and sustainability has led to the launch of more than 80 new products in 2024 and the acquisition of 30 patents related to low-carbon technologies. The company continues to prioritize its strategy of "Globalization, Digitalization and Decarbonization," positioning itself for future growth amid evolving market conditions.