SANY releases its business performance report in Q1
SANY Heavy Industry (hereinafter referred to as SANY) released its business performance report in first quarter of 2019, saying that it is expected to achieve the net profit of 3 billion yuan to 3.3 billion yuan in Q1, year-on-year growth of 100 per cent to 120 per cent.
The increase of net profit is contributed by the rapid growth in sales of excavating machinery, concrete machinery, hoisting machinery and piling machinery. SANY’s outstanding performance is mainly driven by four factors: first, the infrastructure construction and the need of equipment renewal; second, leading products have strong competitiveness in the world, making their domestic and overseas market shares get rapid growth; third, the digitalization of the enterprise greatly improves management quality and efficiency; fourth, the effective control on cost makes the profit increase remarkably.
Excavator sales hits the historical record
According to the statistics of the construction machinery industry association, there were 74,500 excavators sold in the first quarter of 2019, year-on-year growth of 24.5 per cent, hitting the historical record of the sales volume in Q1. SANY sold 19,500 excavators in Q1, year-on-year growth of 52.3 per cent, and its market share increased to 26.2 per cent, 3 percentage points higher than 2018.