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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.
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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.
Photo - https://mma.prnasia.com/media2/2675631/20250429153216.jpg?p=medium600
Logo - https://mma.prnasia.com/media2/1518641/logo_Logo.jpg?p=medium600
** 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%
GUANGZHOU, China, Jan. 11, 2026 /PRNewswire/ -- Recently, GAC's independently developed Quark E-Drive power domain control system has achieved the world's first dual certification for deeply integrated ASIL D functional safety and information security, accredited by DAkkS, Germany's national accreditation body. The certification was evaluated and issued by SGS-CSTC Standards Technical Services Co., Ltd. (SGS), a globally recognized certification authority.
ISO 26262 is the internationally recognized core standard for automotive functional safety. Within this framework, ASIL D represents the highest automotive safety integrity level, requiring near-zero tolerance for safety-critical failures. Achieving an ASIL D certification accredited by DAkkS signifies that the certified product meets the highest globally accepted standards for automotive safety.
The certified Quark E-Drive power domain control system has been in production use since February 2025, and is now deployed across multiple models under GAC's brands - HYPTEC and AION. As the industry's first electric drive power domain system based on deep integration using a single main control chip, the solution significantly reduces chip count, minimizes risks associated with chip-level failures, and boosts motor controller efficiency to as high as 99.9%. The certification confirms that GAC has completed the system's full product development lifecycle in strict compliance with ISO 26262:2018 functional safety and ISO/SAE 21434:2021 information security standards.
Throughout the project, GAC Technology Research Center worked closely with SGS experts, strengthening safety design across all development phases while ensuring engineering feasibility and an optimal user experience.
Zhao Hui, Vice President of SGS China, commented: "The successful certification highlights GAC's strong team and robust development systems. We are pleased to support the safety of the Quark E-Drive and look forward to closer collaboration."
This milestone represents a major breakthrough for GAC in e-drive safety and sets a new global benchmark for the intelligent electric vehicle industry.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
GAC's Quark Electric Drive Achieves the World's First DAkkS ASIL D Functional Safety and Information Security Dual Certification
