Revenue and net profit both increased significantly! Sany International's 2023 interim results are outstanding

On August 31, Sany International (0631.HK) announced its 2023 interim results. As of June 30, 2023, the company achieved operating income of 10.84 billion yuan, a year-on-year increase of 42.0%, gross profit margin of about 26.1%, a year-on-year increase of 2.3 percentage points, and net profit attributable to the parent company of 1.20 billion yuan, a year-on-year increase of 32.7%.

During the reporting period, the company's operating income increased significantly, mainly due to the continuous penetration of intelligent and electrified new products into the market, which led to a significant increase in the revenue of fully mechanized mining, wide-body vehicles, small port machinery and large port machinery products; The international market expansion has achieved remarkable results, and the international sales revenue has increased significantly; and the profitability of the petroleum equipment business and emerging business acquired during the period.

The market position has been further enhanced

In the first half of 2023, the company continued to invest in the intelligence and electrification of mature products and independent innovation of emerging businesses, continuously improved the core competitiveness of products, and maintained the No. 1 brand in the industry for roadheaders, reach stackers, forklifts, and complete sets of fracturing equipment.

Among them, the sales revenue of roadheaders was 1.55 billion yuan, and the sales revenue of small port machinery was 2.07 billion yuan, a year-on-year increase of 47%; The sales revenue of fracturing trucks was 990 million yuan, a year-on-year increase of 49%.

Overseas sales are growing rapidly

In the first half of 2023, the company implemented the twelve-character policy of "focusing on me, local operation, and service first", and implemented 9 major breakdown strategies such as "large customers, large equipment, and European and American markets", which continued to contribute strong impetus to the overall revenue growth, achieving overseas sales revenue of 3.25 billion yuan, a year-on-year increase of 68.3%, and overseas sales revenue accounted for 30% of total revenue, an increase of 4.7 percentage points. Among them, the overseas revenue of mining trucks, large port machinery and small port machinery has achieved rapid growth.

In terms of logistics equipment, overseas revenue reached 1.8 billion yuan, a year-on-year increase of 84%. The sales revenue of small port machinery was 1.41 billion yuan, a year-on-year increase of 96%, of which the sales of telescopic booms increased by 283%; The sales revenue of Dagang Machinery was 360 million yuan, a year-on-year increase of 50%.

In terms of mining equipment, overseas revenue reached 1.5 billion yuan, a year-on-year increase of 54%. The sales revenue of wide-body vehicles was 990 million yuan, a year-on-year increase of 48%, of which electrification accounted for 26%; The sales revenue of rigid vehicles was 380 million yuan, a significant increase of 522% year-on-year.

New business is accumulating

In the first half of 2023, the operation of petroleum equipment was stable, the competitiveness of products continued to improve, and the market share of fracturing equipment continued to maintain a leading position. In the first half of the year, the company won the bid for 24 sets of service orders for PetroChina's electric drive fracturing; New products such as the first electric logging vehicle and new energy oilfield engineering operation machine have entered the verification.

At the same time, Sany International has provided a new level of support for battery equipment,Photovoltaic cellsExtend new business with equipment and hydrogen production equipment to achieve a comprehensive low-carbon strategy.

At the results conference, Xiang Wenbo, the rotating chairman of Sany Group and the director of Sany International, said that Sany Group will lay out all the new industries for future transformation and development in Sany International, including photovoltaics, hydrogen energy, battery equipment, smart mines, etc., and attaches great importance to and supports the future development of Sany International, and is full of hope.

Remarkable achievements in intelligence and electrification have been achieved

In recent years, the company has continuously launched new electrified and intelligent products, and the company's electrified product revenue will double in 2023.

In terms of mining equipment, the market share of intelligent roadheaders is far ahead; The total sales of intelligent windlass this year are 60 units of 330 million yuan, a year-on-year increase of 50%; The first longitudinal axis excavation equipment was successfully developed, and the first horizontal axis tunneling equipment was used in Inner Mongolia; 10 sets of pure water brackets have been signed with an amount of 800 million yuan, and they have entered Shaanxi Coal for the first time; Received an order for 20 units of pure electric wide-body vehicles in the Norwegian market; Unmanned mining trucks have achieved normal operation, and 120 new orders have been signed.

In terms of logistics equipment, the company won the bid of 1 billion yuan for 42 automated rail cranes in Yantian and 360 million yuan for PSA automated double-trolley quay cranes, developed 10-25T series electrified forklift products, and entered four major operators including APMT and PSA for electrified container trucks. The development of international electric reach stackers, stack high stackers into the high-end market in Europe and the United States, etc.

In addition, it has achieved intelligent technological breakthroughs such as compatible control technology, one-key start-stop technology, intelligent fracturing technology, and automatic on-load pressure regulation.

Looking forward to the future, Sany International will seize the opportunity, firmly implement the strategy of globalization, digital intelligence and low-carbonization, and continue to develop mining equipment, logistics equipment, petroleum equipment and emerging businesses, so as to provide strong growth momentum for high-quality development.