Sany Heavy Industry released its 2024 semi-annual report!

On August 30, Sany Heavy Industry's 2024 semi-annual performance exchange meeting was successfully held in Sany Kunshan Industrial Park, where Liu Hua, Senior Vice President and Chief Financial Officer of Sany Heavy Industry, Chen Jiayuan, Chairman of Heavy Machinery Division, Jiang Qingbin, Chairman of Pump Division, Yuan Yue, Chairman of Heavy Machinery Division, and other management attended the meeting.

According to the semi-annual report, during the reporting period, Sany Heavy Industry achieved operating income of 38.738 billion yuan, a year-on-year decrease of 1.95%; net profit attributable to shareholders of listed companies was 3.573 billion yuan, a year-on-year increase of 4.80%; The net cash flow from operating activities was 8.438 billion yuan, a significant increase of 2,204.61% year-on-year.Among them, the operating income in the second quarter was 21.076 billion yuan, a year-on-year decrease of 2.94%; net profit attributable to shareholders of listed companies was 1.993 billion yuan, a year-on-year increase of 5.28%. As of June 30, 2024, the company's total assets were 156.834 billion yuan, and the net assets attributable to shareholders of listed companies were 69.127 billion yuan.

The company firmly implemented the business principle of high-quality development, promoted the return of product prices to rationality, reduced costs and costs, and improved profitability, and the net profit margin rebounded to 9.15%; Increasing payment collection efforts and reducing inventory, the net operating cash flow increased significantly to 8.4 billion yuan; Adhere to value sales, strictly control the risk of payment and agents, and control the overdue rate at a low level.

Globalization is advancing at a rapid pace

In the first half of 2024, the company will implement the business strategy of "group-led, local operation, and service-oriented", further promote global organizational reform and operation localization, global R&D and manufacturing layout, increase channel and aftermarket construction, and continue to build sustainable global business capabilities.The company's overseas revenue continued to grow, and the overseas sales revenue of the main business reached 23.542 billion yuan, a year-on-year increase of 4.79%, and the proportion of overseas revenue in the main business income reached 62.23%.

The income of each region is as follows: 9.17 billion yuan in Asia and Australia, an increase of 2.55%; 8.27 billion yuan in the European region, an increase of 1.08%; the Americas region was 3.79 billion yuan, down by 4.19%; and 2.31 billion yuan in Africa, an increase of 66.71%.

Benefiting from factors such as the rapid growth of overseas sales, the increase in the price of some products, the improvement of product structure, and the promotion of cost reduction and efficiency improvement measures, the gross profit margin of the company's overseas main business continued to increase by 31.57%, an increase of 0.56 percentage points from 31.01% in the same period last year, and the profit in overseas markets increased steadily.

Actively promote digital and intelligent transformation

Keeping up with the development opportunities of the new era, threeFirst Heavy Industry integrates digital intelligence construction into manufacturing, products, services, operations and other scenarios, and actively promotes digital and intelligent transformation.

In terms of intelligent manufacturing,In the first half of 2024, the expansion of the second phase of the Indonesian plant will be completed, and the three major processes of structural parts will be completed and put into operation, and the production efficiency will be effectively improved. The second phase of the plant in India and the factory in South Africa are under construction in an orderly manner, and can fully cover Southeast Asia, the Middle East and other regions after they are put into operation, which will further provide a strong guarantee for the company's globalization strategy.

At the same time, the company accelerates the construction of the iMBP manufacturing operation platform, and is committed to building a data base for the manufacturing system, with a unified entrance, unified authorization, and unified data monitoring, so as to realize the manufacturing of "completely controlled by data and processes". The factory promotes 6 sets of "i" series products, including iMOM, iWMS, iAPS, iELM, iLES, and iIOT, to create a unified quality management platform for the group and promote the quality control of the whole process from design to delivery.

In terms of smart products,The company has integrated networked, intelligent and digital technologies around the whole process of engineering construction to realize the visualization of engineering construction, multi-vehicle cluster collaborative operation, as well as unmanned transportation scheduling, system operation scheduling, real-time monitoring of equipment, remote control of vehicles, etc. Among them, the unmanned paving machine group products are laid out in three modules: stand-alone intelligent products, UAV group products, and equipment management platforms, which have been promoted and applied in 36 projects in 21 provinces across the country; The unmanned "digging and loading" operation realizes 24H construction with eight functions such as automatic excavation and loading, intelligent scheduling, and digging card system in the open-pit coal mine scene.

In terms of intelligent operation,The company continues to promote the collection of full and all-factor data, mine the value of data, improve refined operational efficiency, further create value for customers, realize real-time online access of 18,000 devices and 59,000 cameras, reduce costs and energy consumption through data analysis and algorithm models, and save more than 50 million yuan in energy saving costs in the first half of 2024.

Leading the low-carbon transformation of the industry

In 2024, the company will continue to improve the coverage of new energy products, and the total will be completedMore than 80 new energy products have been launched, and a number of products have made major breakthroughs.

Among them, the SW956E electric loader is equipped with a number of advanced energy-saving technologies such as self-developed VCU, multi-condition customization and intelligent inverter air conditioner, and its energy efficiency and rated load have reached the industry-leading level, and it has won a large order of 200 units in Indonesia at one time, laying a good foundation for the export of Denso; SY215E electric excavator self-developed vehicle VCU has been promoted to a full range of electric excavators, at the same time, the industry for the first time to use double change technology, electric rotation technology, integrated thermal management and other electrification technology, energy consumption performance leading the industry, at present, domestic and overseas sales have achieved the first place.

In terms of core components and technology research, in 2024, the company will create the industry's first P2-MT hybrid technology solution, which effectively improves the power interruption problem in the shift process of heavy-duty vehicles, ensures the reliability of the vehicle in different use scenarios, and achieves considerable fuel saving rate through reasonable calibration of software, which is better than the current existing products, reaching the industry-leading level and filling the gap in the technical route of hybrid products.In the first half of 2024, the company obtained 30 authorized patents related to low-carbonization.

R&D and innovation have achieved remarkable results

In the first half of 2024, the company invested 2.612 billion yuan in R&D, focusing on the strategy of "globalization, digital intelligence, and low-carbonization" to maintain a high level of R&D investment.

In terms of patents, the company applied for 575 patents (excluding software copyrights), including 357 invention patents, accounting for 62%; 351 patents have been authorized, of which invention patents account for nearly 30%, and it has won many awards such as "Changsha Trade Secret Demonstration Enterprise" and "Suzhou Intellectual Property Leading Enterprise".

At the same time, the company attracts and retains talents through perfect incentive mechanisms and multi-channel cooperation to ensure that R&D leads innovation. As of the first half of 2024, the company has 6,320 R&D personnel, of which 39% have graduate degrees or above.

At present, the company has 4 field test sites and 8 trial production centers, covering 90% of the test scenarios and greatly shortening the test cycle. At the same time, it has independently developed R&D management systems such as RPM (R&D planning management), RD (R&D project management), and RDPM (R&D performance management) to ensure the standardized management and high-quality completion of R&D projects. Completed the development of R&D business systems such as TPM (trial production management system) and TOS (test online system), and greatly shortened the trial production week and test cycle; At present, R&D digital intelligence has changed from R&D result management based on PLM (product life cycle management) to R&D process, R&D results and R&D management centered on RD (R&D project management).

In the first half of 2024, the company released a number of innovative products, including the SY2000 mining excavator, the third-generation remote-controlled medium-sized excavator, the 33-meter pump truck, and the STC2000C8-8Truck cranesWait.

In the future, Sany will adhere to the principle of high-quality development and operation, comprehensively promote the three strategies of globalization, digital intelligence and low-carbonization, adhere to the development of new quality productivity, strengthen R&D and innovation, and promote the transformation of the industry to "high-end, intelligent and green".

On the day of the results release, Sany Heavy Industry's closing stock price was 16.12 yuan, an intraday increase of 1.51%.