On August 30, Sany announced its 2024 half-year financial report. The company reported 387.38 billion yuan (5.45 billion USD) in operating revenue for H1 2024, down 1.95% year-on-year, while the net profit attributable to shareholders of listed companies increased by 4.80% to 35.73 billion yuan (503 million USD).
Despite the challenging global market, the company, insisting on the principle of “high-quality development”, achieved a surge in net cash flow from operating by 2,204.61% to 84.38 billion yuan (119 million USD).
In the first half part of 2024, Sany further drove globalisation by expanding the global R&D and manufacturing layout, enhancing the aftermarket construction, and building sustainable capabilities for global operations.
In the H1 of this year, Sany saw sustainable growth in its international revenue. The company recorded an international sales revenue for the main business of 235.42 billion yuan (3.31 billion USD), marking a year-on-year growth of 4.79% and accounting for 62.23% of its main business revenue.
Among these, the African region boasted a notable year-on-year increase of 66.71% to 23.1 billion yuan (325 billion USD), while the Asia and Australia region contributed 91.7 billion yuan (1.29 billion USD), rising 2.55%. The European region generated 82.7 billion yuan, a stable growth of 1.08%, and the American market brought in 37.9 billion yuan, down by 4.19%.
In 2024, Sany continues to increase its investment in the R&D of new energy products. As of now, more than 80 new energy products have been listed this year with multiple ones achieving breakthroughs in the market.
In terms of technology R&D, Sany has obtained about 30 granted patents related to low carbonisation. For example, the industrial first P2-MT hybrid power technology scheme not only improved the problem of power interruptions during gear shifting in heavy-duty vehicles but also achieved considerable fuel savings through rational calibration of the software, filling the technology gap for hybrid products.
