Construction machinery maker Sany Heavy Industry Co. Ltd. (600031.SH; 6031.HK) saidon Monday its net profit rose 41.2% last year to 8.41 billion yuan ($1.22 billion), while its revenue rose 14.7% to 89.2 billion yuan.
Excluding non-recurring items, the company’s profit last year reached 8.22 billion yuan, up 54.1%, while net cash flow from operating activities rose 34.8% to about 20 billion yuan as its business improved.
The company said its core products maintained leading positions in the market, with excavators and concrete machinery continuing to rank No. 1 in domestic market share. Sales surged for its new energy products, such as electric mixer trucks and dump trucks, with total sales for that segment reaching 8.64 billion yuan, up 115% year-on-year.
The company said the construction machinery sector entered a phase of moderate recovery last year, supported by China’s large-scale equipment upgrade policies and infrastructure investment, which helped lift domestic demand. Overseas markets remained resilient, with strong demand from emerging regions such as Africa and Southeast Asia.
Looking ahead, Sany said it expects continued growth to be driven by infrastructure, water conservancy and mining investment, alongside rising penetration of new energy and intelligent products. While geopolitical and trade uncertainties persist, the company said its localized global strategy and technological upgrades should support further international expansion.
Sany’s stock opened higher on Tuesday, closing at HK$20.96 by the midday break, up 2.04%.
By Lee Shih Ta
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