SANY Heavy Industry (SSE: 600031) listed in Shanghai Stock Exchange (SSE) released its 2020 annual report. Last year, SANY's total sales revenue reached 15.14 billion USD with 31.29% year-on-year growth. Total assets increased to 19.25 billion USD, and net assets attributable to shareholders of the public company were 8.62 billion USD.
The report revealed that the SANY excavator achieved a sales revenue of 5.721 billion USD, an increase of 35.85% year-on-year, ranking at the top of the Chinese market for 10 consecutive years.
The year 2020, hit by the pandemic, saw a 27% reduction in the global market for construction machinery. However, SANY’s global businesses maintained a steady growth in the context of the pandemic, achieving an increase of 3% in year-on-year sales topping 2.4 billion USD.
In 2020, R&D investments increased by 33.2% to 954 million USD, accounting for 6.3% of the company’s total annual revenue. The number of R&D employees reached 5,346, a 69% increase over 2019. By the end of 2020, SANY had applied for 10,278 patents and authorized 7,613, more than any other single company in China in 2020.
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