SANY 2024 Annual Report: Net Profit Up 31.98%, International Revenue Accounts for 64%

SHANGHAI, April 29, 2025 /PRNewswire/ -- SANY Heavy Industry (SANY) announced its 2024 results on April 19, reporting $10.88 billion in full-year sales and revenue, up 6.22% year-on-year. Net profit attributed to shareholders surged by 31.98% to $0.84 billion. As international revenue accounting for 64% of its core business revenue, the company continues to show its strong overseas growth.

The company reported a core business gross margin of 26.63% in 2024, marking a 0.47pp year-on-year increase. Among which, the hoisting machinery contributed the most to the growth, showing a 4.23pp increase compared to 2023. In 2024, the company's operating cash flow was $2.07 billion, a whopping 159.53% increase, compared with $0.80 billion in 2023.

Solid Core Business and Green Innovation

The earthmoving machinery, concrete machinery, and hoisting machinery contributed 76% of the full-year revenue, reporting $4.25 billion, $2.01 billion, and $1.83 billion accordingly. The road machinery performed strongly, posting a 20.8% year-on-year growth.

Staying committed to decarbonization, SANY continues to promote the development of clean technology. In 2024, the company applied 275 low-carbon patents and the low-carbon products generated $0.56 billion in revenue. In addition, SANY is driving forward the electrification of main machines, core spare parts, and power supply units. In 2024, the company launched over 40 electric products, with the sales exceeding 6,200 units.

International Revenue Hits New High

Prioritizing globalization efforts, SANY established production bases, R&D centers, marketing and service networks, and localized teams, enabling coordinated and efficient operations across all regions.

During 2024, the international core business revenue set a new high of $6.78 billion, an increase of 12.15% compared with $6.06 billion for 2023, and accounting for 64% of the total core business revenue. The company reported the international gross margin of 29.7%. The growth of international markets was primarily driven by the Asia and Australia regions, whose reported revenue was $2.88 billion, a 15.47% year-on-year increase. The African market boasted strong growth with the revenue surging by 44% to $0.75 billion. The Europe and America regions also showed stable growth of 1.86% and 6.64%, contributing $1.72 billion to $1.44 billion respectively.

"I'm proud of our achievements in the challenging yet opportunity-filled 2024. In 2025 we will deepen technological innovation, strengthen risk management, and enhance governance efficiency, contributing our corporate strength to global sustainable development," stated Xiang Wenbo, Chairman of SANY Heavy Industry.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

SANY 2024 Annual Report: Net Profit Up 31.98%, International Revenue Accounts for 64%

YIWU, China, May 15, 2025 /PRNewswire/ -- The U.S. and China have officially aligned on tariff adjustments under the Joint Statement on Economic and Trade Talks, effective May 14—a move set to stabilize global trade. In Yiwu, the internationally recognized commercial hub often referred to as the "World's Supermarket", the impact is already tangible: local businesses report a sharp uptick in orders from U.S. buyers following the announcement. 

Yiwu Entrepreneurs Stay Agile Amid Shifting Trade Dynamics

From 2020 to 2024, Yiwu's U.S. export share surged from 4.1% to 14.2%, underscoring the resilience of its businesses through trade uncertainties. "Diversification keeps us competitive," says He Lihong, founder of Yiwu Bozhong Stationery, who swiftly shifted to new markets after U.S. orders slowed. "This month alone, I'm scouting opportunities in eight countries to future-proof our growth." 

Yiwu's Global Trade Surge Hits Record High in May

Yiwu turbocharged international business growth with its 415 Global Prosperity Season (April 15–May 5), a city-led promotional campaign to connect local companies with global buyers. Organized by Zhejiang China Commodities City Group (CCC), the initiative featured hybrid trade shows, industry-specific exhibitions, and even chartered flights to shuttle buyers from the Canton Fair directly to Yiwu's markets.

The momentum continued as the Global Digital Trade Centre debuted its Foreign Buyer Open Day, drawing international merchants to secure storefronts and access Yiwu's end-to-end trade solutions. Meanwhile, CCC and Alibaba unveiled a game-changing AI partnership—the Smart Trade AI Model—to optimize efficiency for vendors on the Chinagoods platform.

Later this month, Chinagoods will launch a week-long Global Cross-Border E-Commerce Recruitment Fair, anchored by its E-Commerce Acceleration Initiative, to streamline digital expansion for Yiwu businesses. 

Yiwu's Shopping Tourism Boom Fuels Next Wave of Digital Trade Growth

Yiwu saw record tourism during May Day holidays, attracting 2.77 million visitors - a 29.9% year-on-year surge - driven by favorable visa policies and tax incentives. The city's unique "travel + shopping" model gained further traction with inbound tourism orders jumping 60%.

This shopping tourism boom is now transitioning into digital trade momentum, linking global buyers more directly with Yiwu-based manufacturers. The trend underscores both the resilience of Yiwu's trade ecosystem and the growing global demand for Made-in-China products. 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

The "Yiwu 415 Wealth Creation Event" has attracted a lot of global buyers to Yiwu