Home » Business » Manufacturing
Slow demand, FAI erode Sany’s H1 net
Print Edition
SANY Heavy Industry Co, China’s leading machinery manufacturing company, saw its first half year net profit plunge by nearly half as domestic demand and fixed asset investment slowed while its overseas sales were also crimped by a global industry downturn, according to its semi-annual report yesterday.
The group’s net profit totaled 138 million yuan (US$20.7 million) in the first six months, down 48.6 percent from the same period last year. Its revenue fell 18.5 percent annually to 11.2 billion yuan.
But Sany still leads in global market for heavy machinery. The sales of Sany’s concrete machine parts totaled US$5 billion last year.
China’s machinery manufacturing industry took a hit from the slower growth in fixed-asset investment. From January to June the domestic fixed-asset investment grew 11 percent year on year, slower than the 12.5 percent rise a year ago.
The overseas markets didn’t help much for Sany this year as the sales contribution from overseas declined 2.6 percentage points compared with last year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
