sany heavy industry releases 2024 semi-annual report
2024-09-04
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on august 30, sany heavy industry's 2024 semi-annual performance exchange meeting was successfully held at the sany kunshan industrial park. liu hua, senior vice president and financial director of sany heavy industry, chen jiayuan, chairman of the heavy machinery business unit, jiang qingbin, chairman of the pump line business unit, yuan yue, chairman of the heavy machinery business unit and many other management attended the meeting.
the semi-annual report shows that during the reporting period, sany heavy industry achieved operating income of 38.738 billion yuan, a year-on-year decrease of 1.95%; net profit attributable to shareholders of listed companies was 3.573 billion yuan, a year-on-year increase of 4.80%; net cash flow from operating activities was 8.438 billion yuan, a year-on-year increase of 2,204.61%. among them, the operating income in the second quarter was 21.076 billion yuan, a year-on-year decrease of 2.94%; net profit attributable to shareholders of listed companies was 1.993 billion yuan, a year-on-year increase of 5.28%. as of june 30, 2024, the company's total assets were 156.834 billion yuan, and the net assets attributable to shareholders of listed companies were 69.127 billion yuan.
the company firmly implements the operating principles of high-quality development, promotes the return of product prices to rationality, reduces costs and controls expenses, and improves profitability, with the net profit margin rebounding to 9.15%; increases collection efforts and reduces inventory, and operating net cash flow increases significantly to 8.4 billion yuan; adheres to value sales, strictly controls payments and agent risks, and keeps the overdue rate at a low level.
globalization is advancing rapidly
in the first half of 2024, the company implemented the business strategy of "group-led, local operation, and service first", further promoted global organizational changes and localized operations, globalized r&d and manufacturing layout, increased channel and after-market construction, and continued to build sustainable global business capabilities. the company's overseas revenue continued to grow, with overseas sales revenue of 23.542 billion yuan from its main business, a year-on-year increase of 4.79%, and overseas revenue accounted for 62.23% of its main business revenue.
the revenue of each region is as follows: asia and australia region is 9.17 billion yuan, an increase of 2.55%; europe region is 8.27 billion yuan, an increase of 1.08%; americas region is 3.79 billion yuan, a decrease of 4.19%; africa region is 2.31 billion yuan, an increase of 66.71%.
benefiting from the rapid growth of overseas sales, price increases of some products, improvement of product structure, and the promotion of cost reduction and efficiency improvement measures, the company's gross profit margin of its overseas main business continued to increase to 31.57%, up 0.56 percentage points from 31.01% in the same period last year, and profits in overseas markets have steadily increased.
actively promote digital transformation
following the development opportunities of the new era, sany heavy industry has integrated digital construction into manufacturing, products, services, operations and other scenarios, and actively promoted digital transformation.
in terms of intelligent manufacturing, in the first half of 2024, the expansion of the phase ii factory in indonesia will be completed, and the three major processes for structural parts will be completed and put into production one after another, and production efficiency will be effectively improved; the phase ii factory in india and the south africa factory are under orderly construction. after production, they can fully cover southeast asia, the middle east and other regions, further providing strong guarantees for the company's globalization strategy.
at the same time, the company accelerated the construction of the imbp manufacturing operation platform, committed to building a data base for the manufacturing system, unified entry, unified authorization, and unified data monitoring, and realized the manufacturing of "the workshop is completely controlled by data and processes". the factory promotion covers 6 sets of "i" series products, including imom, iwms, iaps, ielm, iles, and iiot, to create a unified quality management platform for the group and promote quality control of the entire process from product design to delivery.
in terms of intelligent products, the company has integrated networking, intelligent and digital technologies around the entire process of engineering construction, realizing visualization of engineering construction, multi-vehicle cluster collaborative operations, as well as unmanned transportation scheduling, system operation scheduling, real-time equipment monitoring, and vehicle remote control. among them, the unmanned spreading machine group product layout has three modules: single-machine intelligent products, unmanned aerial vehicle group products, and equipment management platform, and has been promoted and applied in 36 projects in 21 provinces across the country; unmanned "digging and loading" operations have realized 24-hour construction of eight major functions such as automatic digging and loading intelligent scheduling, and digging and card systems in open-pit coal mines.
in terms of intelligent operations, the company continues to promote the collection of full and full-factor data, explore the value of data, improve refined operational efficiency, further create value for customers, and achieve real-time online access to 18,000 devices and 59,000 cameras. through data analysis and algorithm models, system optimization reduces costs and energy consumption. in the first half of 2024, the energy-saving and consumption-reduction projects carried out during operations have saved a total of more than 50 million yuan in energy costs.
leading the industry's low-carbon transformation
in 2024, the company continued to improve the coverage of new energy products, and completed the launch of more than 80 new energy products in total, and many products achieved major breakthroughs.
among them, the sw956e electric loader is equipped with a number of advanced energy-saving technologies such as self-developed vcu, multi-condition customization and intelligent variable frequency air conditioning. its energy efficiency and rated load are at the industry-leading level. it won a large order of 200 units from indonesia at one time, laying a good foundation for the export of electrical equipment; the sy215e electric excavator's self-developed vehicle vcu has been promoted to the entire series of electric excavators. at the same time, the industry's first use of dual-conversion technology, electric rotation technology, integrated thermal management and other electrification-specific technologies has led the industry in energy consumption performance, and it has currently achieved the highest sales volume both domestically and overseas.
in terms of core components and technology research, in 2024, the company will pioneer the p2-mt hybrid technology solution in the industry, effectively improving the power interruption problem in the gear shifting process of heavy-loaded vehicles, ensuring the reliability of the vehicle in different usage scenarios, and achieving considerable fuel saving rate through reasonable calibration of software. the scenario fuel saving rate is better than the current existing products, reaching the industry-leading level, filling the gap in the hybrid product technology route. in the first half of 2024, the company obtained 30 low-carbon related authorized patents.
remarkable r&d and innovation achievements
in the first half of 2024, the company invested 2.612 billion yuan in r&d expenses, maintaining a high level of r&d investment around the strategy of "globalization, digitalization, and low carbonization."
in terms of patents, the company applied for 575 patents (excluding software copyrights), of which 357 were invention patents, accounting for 62%; 351 patents were authorized, of which invention patents accounted for nearly 30%, and it won many awards including "changsha city trade secret demonstration enterprise" and "suzhou city intellectual property leading enterprise".
at the same time, the company attracts and retains talents through a sound incentive mechanism and multi-channel cooperation to ensure that r&d leads innovation. as of the first half of 2024, the company has 6,320 r&d personnel, of which 39% have a master's degree or above.
at present, the company has 4 large field test sites and 8 large trial production centers, covering 90% of the test scenarios and greatly shortening the test cycle. at the same time, it has independently developed r&d management systems such as rpm (r&d planning management), rd (r&d project management), and rdpm (r&d performance management) to ensure the standardized management and high-quality completion of r&d projects; completed the development of r&d business systems such as tpm (trial production management system) and tos (trial online system), and greatly shortened the trial production week and test cycle; currently, r&d digitalization has changed from r&d result management based on plm (product life cycle management) to r&d process, r&d results, and r&d management centered on rd (r&d project management) to full online.
in the first half of 2024, the company released a number of innovative products, including the sy2000 mining excavator, the third-generation remote-controlled medium excavator, the 33-meter pump truck, the stc2000c8-8 truck crane, etc.
in the future, sany heavy industry will adhere to the principle of high-quality development, comprehensively promote the three major strategies of globalization, digitalization, and low-carbonization, persist in developing new quality productivity, strengthen r&d and innovation, and promote the industry's transformation towards "high-end, intelligent, and green."
on the day of the results announcement, sany heavy industry's closing share price was 16.12 yuan, with a daily increase of 1.51%.
