China Securities Journal: Sany Heavy Industry invested 5 billion yuan to build an innovation system

Source: China Securities Journal Author: Reporter Li Qingqing

On the 13th, Fortune Chinese officially released the list of "2012 * Innovative Chinese Companies", Tencent topped the list, and Sany Heavy Industry (600031) ranked third, becoming the company ranked *5661 in the domestic construction machinery industry. "Sany has started from scratch in the past 18 years, to China's *5656 in the industry, the sixth in the world, and ranked among the best in many selections, the fundamental reason is innovation, which is the company's cumulative investment of about 5 billion yuan to build an innovation system." Xiang Wenbo, president of Sany Heavy Industry, said when talking about the company's high growth and high ranking.

Xiang Wenbo said that Sany's continuous innovation lies in the system to build a platform for technological innovation of construction machinery. The Sany innovation platform system includes three hardware platforms: "Innovation Base", "Innovation Agency" and "Innovation Alliance", and two software platforms of "Management System" and "Innovation Culture". The software platform and the hardware platform support each other. The construction of the platform lasted 13 years, with a cumulative investment of about 5 billion yuan and more than 30,000 participants. In 2011, the construction of this innovation platform won the second prize of "National Science and Technology Progress Award".

According to reports, Sany Heavy Industry's annual R&D investment accounts for about 5% ~ 7% of sales, and the world's first-class construction machinery enterprises are less than 4%. The large investment higher than the industry level has enabled Sany to achieve endogenous growth through continuous innovation, weaken its dependence on external economic conditions, and cope with the economic cycle calmly.

"From the source, Sany's innovation gene is related to the quality of entrepreneurs, and everyone feels that only by doing things that others can't do can there be market opportunities and high profits. This philosophy has been passed down to become the basic business philosophy of Sany. Xiang Wenbo told reporters.

In fact, what Xiang Wenbo said that others can't do is that products replace imports. In 1994, when Sany entered the construction machinery industry, more than 90% of the domestic market was firmly occupied by several multinational companies; More than 20 years later, Sany has built itself into the world's *5655Concrete machinerymanufacturing bases, as well as listed companies with a market capitalization of *5655 in the industry. Like a catfish, Sany has guided the development of the technical level of the entire industry by relying on non-stop independent innovation, and has continuously recovered the market occupied by international bigwigs. Today, the "national" brand of concrete machinery has occupied more than 95% of the industry's share.