Contractors Hot Line is part of the Catalyst Communications Network publication family.
Contractors Hot Line is part of the Catalyst Communications Network publication family.
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.