People's Daily - Sany Heavy Industry: Focus on the main business and deepen the entity

When I met President Xiang Wenbo of Hunan Changsha Sany Heavy Industry Co., Ltd., the company's results for the first three quarters had just been released: as of December 5, the market value of Sany Heavy Industry Co., Ltd. exceeded 60 billion yuan.

Since 2012, the construction machinery industry has undergone five years of adjustment. "Our flagship product, concrete machinery, has been reduced to less than 20% of the peak period of *5661." Xiang Wenbo calmly recalled that this round of adjustment caused panic in the entire industry, and many companies chose to withdraw.

The response of the board of directors of Sany Heavy Industry is very clear: always stick to the main business, become stronger and bigger. "Being a person, doing things, and doing business is all the same truth, and we must keep the 'way'." Xiang Wenbo said that Sany's original intention is to contribute a *5653 brand to China.

In 1986, Liang Wengen, Tang Xiuguo, Yuan Jinhua, and Mao Zhongwu, who had just graduated from university, gave up the "iron rice bowl" of state-owned enterprises and agreed to start their own businesses. Lianyuan Welding Factory has an output value of more than 100 million yuan in a few years, and has become a private enterprise in Loudi District, Hunan Province *5655 at that time. In 1994, after the renaming, Sany Heavy Industry moved to Changsha, the provincial capital, and entered the construction machinery manufacturing industry. Inspired by the goal of "creating a first-class enterprise, cultivating first-class talents, and making first-class contributions", Sany has gained a firm foothold in China and accumulated enough energy before starting to go abroad.

In 2002, Sany exported its products to Morocco, Africa for the first time. Since 2006, Sany has accelerated its overseas investment and strengthened its efforts, and established R&D and manufacturing bases in India, the United States, Germany and Brazil. In 2012, the cross-border acquisition of the German construction machinery giant Putzmeister. From export products, to overseas investment, to overseas mergers and acquisitions, in 16 years, Sany Heavy Industry has embarked on an international path with its own characteristics. In 2017, Sany achieved international sales revenue of 11.6 billion yuan, accounting for about 30% of the company's total revenue.

Xiang Wenbo said that Sany is not an opportunist, firmly abandons opportunistic thinking, focuses on construction machinery and does not relax, and does not regret deeply cultivating entities.

Insisting on independent innovation is the foundation of Sany's continuous leap forward. Sany R&D investment accounts for about 5% of sales revenue. As of June this year, the company has applied for 12,070 patents and authorized 8,751, ranking firmly in the industry in terms of cumulative patent applications and authorizations.

Relying on innovation, Sany has created a large number of fist products. Steel boom 86m pump truck, 200-ton hydraulic excavator, world's *5656 crane 3600-ton crawler crane, Asia's first 1,000-ton classAll-terrain cranesand other products, which have established Sany's leading position in the industry.

"Sany's goal is to move towards the first-class level of *5653." Xiang Wenbo introduced that in the future, Sany may no longer be a construction machinery company, but a platform company. Sany will open this platform to the society, share it with the society, and also share social resources.