The key figures
SANY Heavy Industry has published its results for the first half of 2026. Net profit attributable to shareholders rose 9.13% to 5.69 billion yuan, or about USD 839 million. Revenue grew by almost 20%, although the sources give slightly different figures: the company's press release cites 53.51 billion yuan and growth of 19.49%, while Xinhua Finance and Shanghai Securities News cite 53.31 billion yuan and growth of 19.7%. In dollar terms the company puts its half-year revenue at 7.89 billion. Since October 2025 SANY shares have traded in Hong Kong as well as in Shanghai.
Growth accelerated in the second quarter. Revenue for April–June rose 24.39% to 29.36 billion yuan, and net profit rose 16.93% to 3.21 billion yuan. Both figures grew faster than the half-year average. Operating cash flow for the six months came to 9.77 billion yuan, and the company's assets stood at 181.15 billion yuan as of 30 June.
There is a weak spot as well. According to Shanghai Securities News, profit excluding non-recurring items fell 13.45% to 4.68 billion yuan. The newspaper does not give the reasons.
Overseas sales: more than 60% of core revenue
The main takeaway from the half-year is the shift of the business beyond China. Overseas revenue from core operations rose 21.82% to 32.04 billion yuan and accounted for 61.33% of core revenue. Overseas sales are also more profitable: their gross margin rose 1.32 percentage points to 32.5%. Xinhua Finance estimates that this is roughly 11 percentage points higher than on the domestic market.
Overseas revenue by region:
- Asia and Australia: 13.44 billion yuan, +17.38%;
- Europe: 6.93 billion yuan, +12.68%;
- The Americas: 6.31 billion yuan, +24.7%;
- Africa: 5.36 billion yuan, +47.66%, the fastest growth of any region.
Central Asia and Kazakhstan are not mentioned separately in the published results materials. This report cannot be used to judge SANY's sales in our region: that would require dealer data and import statistics.
Which machines sold best
Revenue grew in all the main product groups:
- excavators: 21.31 billion yuan, +21.77%, gross margin 34.29%;
- concrete machinery: 9.02 billion yuan, +21.25%;
- cranes and lifting equipment: 8.45 billion yuan, +8.22%;
- road machinery: 2.28 billion yuan, +5.52%;
- piling machinery: 2.19 billion yuan, +63.11%, the highest growth rate and the highest margin, at 36.48%.
SANY's figures coincided with an upturn across the whole industry. According to Xinhua Finance, industry-wide excavator sales in the first half reached 152,300 units, 26.4% more than a year earlier. Of these, 79,000 machines went to China's domestic market and 73,300 were exported.
A bet on local service and parts warehouses
The company calls globalisation its main strategy. SANY is moving from simply exporting machines to running its own operations abroad: sales, service, product development and management are being brought closer to local markets. Shanghai Securities News gives specific figures:
- more than 500 overseas subsidiaries, joint ventures and dealers;
- about 1,000 overseas parts warehouses and 2 central supply warehouses outside China;
- local staff make up more than 70% of the workforce at overseas units;
- more than 30 new models launched on overseas markets;
- the first prototype excavator has been assembled at the plant in Brazil.
The company develops new machines under a global "1+5+N" scheme, and its stated plans include digitalisation, lower emissions, reform of its overseas structure and R&D management, and higher manufacturing quality and profitability. SANY products are sold in more than 150 countries and regions. Research and development spending for the half-year came to 2.34 billion yuan, and over that period the company introduced 15 new-energy models.
What to ask a SANY dealer before buying
For an equipment owner, the manufacturer's profit in itself changes little. What matters more is where the manufacturer directs its resources. SANY already earns most of its core revenue abroad and is expanding its network of warehouses and local staff, which means that service outside China is a direct revenue issue for the company.
Before buying a new SANY machine or renewing a service contract, it makes sense to:
- ask the dealer where the nearest parts warehouse is and which items it keeps in stock;
- request delivery times for running-gear components and consumables for the specific models in your fleet;
- compare offers on total cost of ownership (fuel, service, warranty and downtime), not just on the price of the machine.
The report gives no separate figures for Kazakhstan, so these questions are best put to the dealer directly, before signing a contract.
Sources
- Shanghai Securities News (10jqka.com.cn), "海外收入占比达61.33% 三一重工上半年归母净利润56.9亿元", 2026-08-30: https://stock.10jqka.com.cn/20260830/c679419922.shtml
- Xinhua Finance (cnfin.com), "三一重工上半年净利润56.9亿元 海外收入占比超六成", 2026-08-31: https://www.cnfin.com/gs-lb/detail/20260831/4462946_1.html
- SANY Heavy Industry (PR Newswire, Kyodo News PR Wire), "SANY Heavy Industry H1 2026 Revenue Rises 19.49% YoY to USD 7.89 Billion, with Overseas Revenue Accounting for 61.33%", 2026-09-08: https://kyodonewsprwire.jp/release/202609085514
- Construction World, "SANY H1 Revenue Rises 19.49% on Global Expansion", 2026-09-09: https://www.constructionworld.in/heavy-construction-equipment/sany-h1-revenue-rises-19.49--on-global-expansion/97149
