Founded in 1994, we have established ourselves as an innovation-driven global leader in the construction machinery industry. We are dedicated to the R&D, manufacturing, sales and servicing of an extensive portfolio of construction machinery, including excavating machinery, concrete machinery, hoisting machinery, piling machinery and road machinery. We are the world’s third largest and China’s largest construction machinery company in terms of core construction machinery’s cumulative revenue from 2020 to 2024. During the Track Record Period, our products have reached customers in over 150 countries and regions globally. In the four months ended April 30, 2025, our revenue from overseas markets accounted for 57.4% of our total revenue. Our products are highly recognized by global customers due to their advanced technological advantages and performance, and have been used in numerous landmark construction projects globally, such as the Hong Kong-Zhuhai-Macao Bridge, London Olympic stadiums, Burj Khalifa and Beijing Olympic stadiums.
Our Products
Our industry-leading diversified product portfolio caters to the varied needs of our customers in construction projects. We primarily provide excavating machinery, concrete machinery, hoisting machinery, piling machinery and road machinery, along with other rapidly-growing products, such as dump trucks and fire trucks. We deliver customized products and solutions for various scenarios spanning earthworks, public construction, road and bridge construction, airport runway construction, building construction, mining operation, energy development, ports and logistics, among others. This diversified presence across multiple sectors strengthens our business resilience throughout economic cycles.
As a pioneer in the digitalization and decarbonization transformation of construction machinery, we continuously drive innovation to meet evolving customer demand and capitalize on market growth opportunities. In 2024, we successfully launched more than 40 new energy products, including excavators, loaders, truck-mounted concrete pumps, truck mixers and cranes. For product categories that we cover, the variety of our new energy products surpasses that of our competitors. We have continuously achieved breakthroughs in digitalization, launching the world’s first 5G remote-controlled excavator, as well as other smart products such as smart cranes, smart road rollers and smart loaders.
Leveraging years of technological expertise and product innovation, we have developed integrated solutions for multiple scenarios, such as the digital solution for open-pit mining, comprehensive truck-mounted concrete pump solution, crane smart operation solution, smart tunnel construction solution and smart paving and rolling fleet, among others.
Our Global Footprint
As one of the pioneering Chinese construction machinery companies to enter the global market, we prioritize globalization as one of our key development strategies and have consistently implemented this strategy throughout our development. Since our first product export in 2002, we have been dedicated to transforming ourselves into a global company, continuously expanding our global footprint and establishing an integrated ecosystem spanning operations, products, services, R&D and manufacturing. During the Track Record Period, our products have reached customers in over 150 countries and regions globally, including Germany, the United Kingdom, France, Indonesia, India, Saudi Arabia, the U.S. and Brazil. In 2024, our revenue from overseas markets accounted for 62.3% of our total revenue, with a CAGR of 15.2% from 2022 to 2024. Both the contribution and the growth rate of our overseas revenue continue to outpace the industry average in China, according to Frost & Sullivan.
We had established eight overseas region-level and 31 country-level business divisions globally as of April 30, 2025, which serve as platforms for comprehensive strategic planning at their respective levels. We actively recruit front-line employees with deep insights into local markets, enabling us to better understand local customer demand and effectively adapt to the local operating environment. As of April 30, 2025, we had 6,784 overseas employees and had achieved localized operations in all our major overseas markets. In terms of R&D, we have established overseas R&D centers, where we conduct R&D targeting regional market demand, effectively accelerating the local market penetration of our products. In terms of manufacturing, we have built over 30 domestic manufacturing bases and 16 overseas manufacturing bases in Germany, Indonesia, India and the U.S., among others. Our Indonesian manufacturing base stands out as the first overseas smart factory built by a Chinese construction machinery company that was benchmarked against the “Lighthouse Factory” standards. In terms of sales network, as of April 30, 2025, we had built a network of approximately 1,900 outlets globally for the sale of our products and/or the provision of services. In addition, as of April 30, 2025, we had 425 distributors globally across approximately 100 countries and regions. By leveraging a comprehensive global sales network, we are able to swiftly respond to local customer demand, achieving product distribution in over 150 countries and regions during the Track Record Period.
Source: SANY Heavy Ind (06031) Prospectus (IPO Date : 2025/10/20) |