Demand lifts heavy earnings
Print Edition
SALES of excavators and heavy trucks in China surged nearly 73 percent last month as heavy machinery companies tapped a construction boom, helping them reap profits.
In November, 6,664 excavators were sold in China, 72.6 percent higher from a year prior, and 88,000 heavy trucks were sold, up an annual 88 percent, GF Securities said in a report yesterday.
The past 11 months have seen resilient demand in China’s heavy machinery industry as the total sales of excavators have risen 21 percent to 63,410, while around 653,800 heavy trucks were sold, 31 percent higher from the year before.
The booming construction industry helped boost profits at heavy machinery firms such as Shanghai-listed Sany Heavy Industry Co. Its profit totaled 170 million yuan (US$25 million) over the first three quarters. The excavator maker sold 1,416 excavators from January to November.
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