SANY(SH:600031) Zheng Quan Shi Bao·2025-08-21 18:31Core Viewpoint - SANY Heavy Industry reported significant growth in revenue and net profit for the first half of 2025, driven by strong domestic and overseas sales in the construction machinery sector [2][3]. Financial Performance - The company achieved operating revenue of 44.534 billion yuan, a year-on-year increase of 14.96% [2]. - Net profit attributable to shareholders reached 5.216 billion yuan, reflecting a 46% year-on-year growth [2]. - The net profit margin improved to 11.65%, up by 2.50 percentage points compared to the previous year [3]. Business Expansion - Overseas sales accounted for over 60% of the company's main business revenue, with total overseas revenue of 26.302 billion yuan, an increase of 11.72% year-on-year [3]. - The Asia-Pacific region was the largest overseas market, generating revenue of 11.455 billion yuan, a growth of 16.3% [3]. - The African market showed the highest growth rate, with revenue increasing by 40.48% to 3.630 billion yuan [3]. Product Performance - Sales revenue for excavators reached 17.497 billion yuan, up 15% year-on-year, maintaining the top position in the domestic market [2]. - Revenue from lifting machinery increased by 18% to 7.804 billion yuan, with a market share exceeding 40% for crawler cranes [2]. - The company maintained the leading market share in the domestic rotary drilling rig segment [2]. Profitability Improvement - The gross margin for overseas main business rose to 31.18%, an increase of 1.04 percentage points from the previous year [4]. - The overall recovery of the construction machinery industry contributed to the improved profitability, with a notable increase in excavator sales [4].