RELEASE: SANY Heavy Industry Reports Financial Results: 35.87% Increase in International Sales Revenue

CHANGSHA, China, Sept.

RELEASE: SANY Heavy Industry Reports Financial Results: 35.87% Increase in International Sales Revenue

CHANGSHA, China, Sept. 5, 2023 /PRNewswire/ -- The world's leading manufacturer of heavy machinery, SANY Heavy Industry ("SANY"), reported its first half 2023 financial results on August 30. Its operating income decreased 0.38 percent to 39.496 million yuan (5.44 billion US dollars), while net profit attributable to shareholders of listed companies increased 29.07 percent to 3.4 billion yuan (468.3 million dollars). Net cash flow from business activities was 402 million yuan (55.37 million US dollars).

In the second quarter of 2023, SANY's operating income was 21.709 million yuan (2.99 billion U.S. dollars), a year-on-year increase of 10.93%; Net profit attributable to shareholders of listed companies reached 1.888 billion yuan (260 million US dollars), a year-on-year increase of 80.81%.

Substantial growth in foreign markets with strengthened competitive advantages

SANY has improved its international competitiveness and achieved a historic leap in performance growth: international sales revenue in the first half of 2023 amounted to 22.466 million yuan (3.09 billion US dollars), a strong year-on-year increase of 35, 87% and represents 56.88% of total operating income.

As SANY continues to evolve its global business composition, the company is expanding the scope of its globalization strategy. SANY now operates in more than 180 countries and regions, with Europe and North America showing the fastest growth. The following products achieved the most significant sales increases abroad in the first half of 2023:

SANY's smart manufacturing factories in Indonesia, India and the US are further boosting overseas production capabilities with the applications of more than 100 advanced manufacturing technologies as well as online production management achieved through through digitized systems.

Strategic roadmap towards "dual carbon" goals and sustainable development

SANY invested 2.875 million yuan (395.86 million US dollars) in R&D in the first half of 2023, focusing on globalization, digitalization and decarbonization strategies. The company advances in the development of electrification to offer high-quality and low-consumption electrical products, leading the industry trends with low carbon emissions.

In addition to addressing more than 20 key electrification technologies in the first half of 2023, SANY launched more than 130 new products, including the world's first electric rotary drilling rig, the new generation 710S concrete pump, the first telescopic overhead crane, SCE800TB-EV electric crawler truck in the world, the largest crane truck with 200 tons tonnage and the first self-developed fuel cell system hydrogen mixer truck.

"SANY is confident of growth in overseas markets and will continue to advance our strategic roadmap, especially by increasing R&D investment with strong commitments to sustainable development goals to lead the industry towards high-quality and intelligent development," he said. Xiang Wenbo, Rotating Chairman of SANY Group and Chairman of SANY Heavy Industry.

For more information about SANY Group, please visit www.sanyglobal.com or follow us on Facebook or YouTube.

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