China's leading heavy equipment manufacturer Sany Heavy Industry Co., Ltd. said its net profit rose 17.16 percent year on year in the first half of 2021 thanks to the strong sales growth of its products.
The company's net profit reached 10.1 billion yuan (about 1.6 billion U.S. dollars) in the January-June period, Sany said in its first-half financial report filed with the Shanghai Stock Exchange on Monday.
Over the period, the company raked in a revenue of 67.1 billion yuan, a 36.47 percent year-on-year surge.
Of its major products, excavators saw sales soar 39.46 percent year on year to 26 billion yuan during the period, and the sales of concrete machinery rose 31.05 percent to 17.7 billion yuan. The company has been the top excavator seller in the domestic market for 11 consecutive years, according to the report.
Sany has also doubled down on research and development and has continued to promote digitalization and intelligent manufacturing, the report said. Enditem
