Sany Heavy Equipment International Holdings Company (631) H1 2025 earnings summary

Executive summary

• Revenue for the first half of 2025 rose 13.8% year-over-year to RMB12,236.6 million, driven by globalization, digitalization, and low-carbon strategies.

• Net profit increased 31.1% to RMB1,294.2 million, with profit attributable to owners up 25.3%.

• Overseas sales reached RMB4,018.9 million, up 5.4% year-over-year, supported by globalization and low-carbon product expansion.

• Emerging industries revenue surged 276.2% year-over-year to RMB2,594.4 million, forming a strong second growth curve.

• Profit growth outpaced revenue growth, reflecting improved operational efficiency and cost control.

Financial highlights

• Gross profit increased 10.4% year-over-year to RMB2,898.7 million; gross margin was 23.7%, down 0.7 percentage points.

• Profit before tax rose 48.1% to RMB1,707.2 million; basic earnings per share increased to RMB0.39.

• Other income and gains increased 61.2% to RMB594.1 million, mainly from government grants and bank interest income.

• Cash flow from operating activities improved to RMB368.4 million from a net outflow last year.

• Total assets grew 14.3% to RMB43,638.4 million; total equity rose 4.2% to RMB12,510.0 million.

Outlook and guidance

• The company will continue to focus on globalization, digitalization, and low-carbon strategies to drive sustainable growth and profitability.

• Emphasis remains on expanding international presence and advancing emerging industries.

• No interim dividend was declared for the period.