Home / Business

Construction company's net profit surges in H1

By Ren Xiaojin and Zhong Nan | China Daily | Updated: 2017-08-31 07:46

Sany Heavy Industry Co, one of China's top three construction machinery manufacturers by production volume, reported on Tuesday night that its sales revenue was up 71.2 percent year-on-year to 19.2 billion yuan ($2.9 billion) in the first half of this year.

The revenue surge was largely pushed by the development of the Belt and Road Initiative and growing demand in the domestic market for next-generation construction machinery such as excavators, bulldozers, pipe-layers, road rollers and wheel loaders since the second half of 2016.

The company's first-half fiscal report said that Sany has gained steady momentum in the past six months. Its net profit topped 1.1 billion yuan, up a staggering 740.9 percent year-on-year. The group's assets had reached 59.52 billion yuan by the end of June.

Construction company's net profit surges in H1

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349