Sany Heavy Industry Co., Ltd. Announcement on the Company's Recent Sales Performance: Continuous Growth for 6 Consecutive Months
Sany Heavy Industry Co., Ltd. (hereinafter referred to as the "Company") The Company adheres to the business principle of high-quality development, fully advances the three major strategies of globalization, digital intelligence and low-carbonization, further promotes the global manufacturing layout and global organizational reform, and is committed to building sustainable global operation capabilities. Its operating performance has maintained steady growth with a gradual upward trend.
The Company implements the business strategy of "Group Leadership, Local Operation, and Service Priority", with overseas revenue maintaining steady growth. In the first half of 2024, the Company achieved overseas sales revenue of RMB 23.542 billion, a year-on-year increase of 4.79 percent, and the proportion of overseas revenue in the main business revenue reached 62.23 percent. The Company hereby announces its recent sales performance as follows:
I. Sales Situation in Domestic and Overseas Markets in August 2024
1. The domestic market has entered a steady upward trajectory. The Company's small excavator products have achieved growth for 6 consecutive months this year, with the growth rate accelerating month by month; medium and large excavator products have also stabilized and rebounded. In August 2024, the domestic sales volume of small excavators increased by 51 percent year-on-year, medium excavators by 44 percent year-on-year, and large excavators remained flat year-on-year. The decline in non-excavator products such as concrete machinery and hoisting machinery narrowed.
2. The overseas market is recovering at an accelerated pace. In August 2024, the overseas sales volume of small excavators increased by 16 percent year-on-year, medium excavators by 32 percent year-on-year, and large excavators by 63 percent year-on-year. Non-excavator products such as concrete machinery and hoisting machinery have continued the high growth rate achieved in the first half of the year.
II. Sales Situation in the African Market from January to August 2024
From January to August 2024 The Company's sales in Africa reached RMB 3.5 billion, with a year-on-year increase of over 60 percent. Since entering the African market in 2002, the Company has sold equipment worth more than RMB 20 billion in total, with the equipment in operation exceeding 23,000 units, ranking first among Chinese construction machinery enterprises in terms of product exports to Africa.
Up to now, the Company provides sales services in 52 countries and regions in Africa (there are 61 countries and regions in Africa in total). It has established 4 regional offices, 14 subsidiaries, 8 agents and 50 service outlets in Africa, with a localization rate of over 60 percent.
Looking ahead, the Company will further strengthen the development of the African market, continuously deepen all-round cooperation with African partners in the fields of intelligent manufacturing, infrastructure construction and new energy, so as to create greater value for customers and make greater contributions to promoting the industrialization and modernization process of Africa.
