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Continuous growth in core competencies 
The report revealed that the SANY excavator achieved a sales revenue of 5.721 billion USD, an increase of 35.85% year-on-year. Excavator production in 2020 exceeded 90,000 units. Meanwhile, SANY concrete machinery hit 4.124 billion USD in sales revenue, a 16.6% year-on-year increase, and SANY hoisting machinery hit 2.959 billion USD in sales revenue, a 38.84% year-on-year increase. In addition, SANY piling machinery grew in sales revenue by 41.9% year-on-year to 1.04 billion USD. As for road machinery, sales revenues increased by 30.59% to 430 million USD.

Improvements in operating capacity
According to SANY, the net profits attributable to shareholders reached 2.35 billion USD, achieving a 36.25% year-on-year growth. The period costs, including those on sales, administration, research and development, and financial affairs, dropped by 1.87%. The company made concrete steps in improving its risk management capability as the overdue loans ratio continued to decrease and cash flow increased by 12.45% to 2.04 billion USD. While the inventory turnover was 4.17 times/year in 2020, 0.23 more than that of 2019, the receivables turnover fell to 80 days from 120 days in 2019.

Progress in digital transformation
Among SANY’s flagship factories, technologies such as vision recognition, process simulation and heavy-duty robotics were widely applied to boost productivity and cut labor costs. The levels of standardization, digitization, automation and intelligence were significantly improved upon in key business processes. Integrated operating software was introduced to interconnect all links in business including manufacturing, supply chain, procurement, R&D, and marketing and sales. Ten new electrically powered products have rolled off the line including excavators, cranes, truck mixers, dump trucks and road machinery. Self-driving technology, remote control, intelligent operation, big data analysis and 5G became new elements in product design. 

Moves on internationalization
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. A major growth of over 30% was seen in the overseas market share of SANY excavators, especially in North America, Europe, India and Southeast Asia. Progress was made in the development of overseas market channels, overseas service capability, global dealer networks and overseas service and spare parts supply system.

Remarkable results in R&D and innovation
Incentive policies were introduced to facilitate technical innovations on all product lines. According to SANY, 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.