SANY named by Forbes as China’s largest heavy equipment company in 2021 and 2nd in the World
CHANGSHA, China, May 26, 2021 /PRNewswire/ — The 19th Annual Forbes Global 2000 list ranks the world’s largest public companies by metrics including market value, sales, profits and assets. SANY, at 468th, ranks the first among heavy equipment manufacturers in China and the second in the world, after only Caterpillar.
This year, SANY surged 235 places to enter the Forbes TOP500 Club for the first time with yearly sales volume of USD 14.4 bn, revenue of USD 2.2 bn, asset value of USD 19.3 bn, market value of USD 41.2 bn.
Despite suffering a 27% reduction in the global market for construction machinery when the COVID-19 pandemic began in the first quarter of 2020 – the largest hit to the globe in the 21st century so far – the company has maintained a steady growth, with a visionary global business layout and a well-rounded operation and business management strategy.
SANY kept a good momentum of growth in the first quarter of 2021, in which SANY’s quarterly revenue reached USD 5.17 bn, an increase of 90% year-on-year. The company’s main product lines are continuing to perform well globally, cementing SANY’s leading position in the industry.