More than the whole of last year! Sany International's third quarterly report continues to grow at a high rate!

After the market on October 31, Sany International (00631.HK) announced its third-quarter results. According to the performance announcement, in the first three quarters of 2023, the company achieved revenue of 15.84 billion yuan, a year-on-year increase of 36.5%, and a net profit of 1.73 billion yuan, a year-on-year increase of 33.6%. Among them, in the third quarter, the company achieved revenue of 5.00 billion yuan, a year-on-year increase of 25.9%, and a net profit of 540 million yuan, a year-on-year increase of 43.0%, continuing to achieve rapid growth.

It is reported that Sany International will achieve an operating income of 15.54 billion yuan and a net profit of 1.66 billion yuan in 2022. The company's revenue and net profit in the first three quarters of this year have exceeded the level of last year.

According to the results announcement, the significant increase in the company's revenue and profit was mainly driven by four factors:

Deeply implement the strategy of globalization, digital intelligence and low-carbonization; Intelligent and electrified new products continued to penetrate the market, resulting in a significant increase in the revenue of the Group's fully mechanized mining, wide-body vehicles, small port machinery and large port machinery products.

The globalization strategy has achieved remarkable results, the international market has achieved leapfrog development, and the international sales revenue has increased significantly;

During the period, the newly acquired oil and gas equipment segment and the emerging industry equipment segment generated revenue;

The full implementation of digital and intelligent operations, the implementation of quality and efficiency improvement, cost reduction and cost control measures, so that the gross profit margin of products increased.

During the reporting period, Sany International resolutely implemented the Group's business policy of high-quality development, continued to improve the gross profit margin, with a cumulative consolidated gross profit margin of 27.2% in the first three quarters, an increase of 1.2PP quarter-on-quarter, and a comprehensive gross profit margin of overseas business of 29.6%, an increase of 2.1PP quarter-on-quarter.

After the release of the results, CITIC Machinery commented that Sany International's performance was outstanding, its profitability continued to improve, and its ability to go through the cycle was highlighted. The company has laid out mining equipment, port logistics equipment, oil and gas equipment, and emerging industry equipment, continued to increase overseas business layout, and has grown into an international comprehensive equipment platform. Since the beginning of this year, the company's port logistics equipment revenue scale and profitability have both increased, and oil and gas equipment has contributed important profit increments, reducing the impact of fluctuations in the prosperity of the coal machinery industry, and also providing strong support for the cultivation of emerging industry equipment. On the whole, the company's internationalization strategy has achieved remarkable results, highlighting its strong ability to go through the cycle.