Sany Heavy Equipment International Holdings Company (631) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2024 rose 0.5% year-over-year to RMB15.91 billion, while net profit declined 22.3% to RMB1.34 billion.

• For the three months ended 30 September 2024, revenue increased 3.1% year-over-year to RMB5.15 billion, but net profit dropped 34.6% to RMB356 million.

Financial highlights

• Gross profit for the nine-month period fell 9.1% year-over-year to RMB3.91 billion.

• Profit attributable to owners for the nine months was RMB1.39 billion, down 21.6% year-over-year.

• For the quarter, gross profit decreased 12.7% to RMB1.29 billion, and profit attributable to owners fell 37.3% to RMB357 million.

Outlook and guidance

• The company plans to continue integrating operating resources, optimizing business structure, and focusing on shareholder returns.