On the evening of October 29, Sany Heavy Industry (600031) released a report for the first three quarters of 2020. The company achieved operating income of 72.892 billion yuan in the first three quarters, a year-on-year increase of 24.2%; net profit attributable to shareholders of listed companies was 12.45 billion yuan, a year-on-year increase An increase of 34.69%; the net cash flow from operating activities was 11.024 billion yuan, a year-on-year increase of 33.16%.

Sany Heavy Industry said that the main reason for the growth in performance was that domestic infrastructure construction, enhanced environmental protection, increased demand for equipment renewal, and artificial replacement effects promoted the increase in sales of construction machinery, while the company's product competitiveness was significantly improved.

In addition, the third quarterly report shows that during the reporting period, the company increased its R&D investment in construction machinery products and key components. In the first three quarters, the company invested 2.969 billion yuan in research and development, a year-on-year increase of 45.89%.

Sany Heavy Industry is a listed company with its main business under Sany Group, which was listed on the Shanghai Stock Exchange on July 3, 2003. The company's main business is the equipment manufacturing industry, covering a full range of products such as concrete machinery, excavating machinery, hoisting machinery, road construction machinery, piling machinery, wind power equipment, port machinery, petroleum equipment, coal equipment, precision machine tools, etc.

In the field of construction machinery in China, Sany Heavy Industry is an absolute leader in the industry. At present, Sany concrete machinery is firmly ranked as the world's No. 1 brand, and its excavating machinery has been the sales champion in the domestic market for nine consecutive years. Crawler cranes, piling machinery, coal machinery, and port machinery rank first in China.

The second-ranked XCMG Group has less than 80% of Sany's revenue in 2019, but its product structure is more diversified, and the crane industry has long been the leader in the Chinese market. Afterwards, Zoomlion and Liugong Group have also shown certain growth momentum in recent years.

At the same time, the company continued to increase its digital transformation efforts. According to information released by SANY's official WeChat account, in September this year, the output pump truck of No. 18 plant of SANY Heavy Industry broke through the historical peak of nearly eight years, becoming the industry's first beacon factory with stable output and the first to enter the lighthouse factory 2.0 era.