SANY Global Dealer Summit Speeds up Development of International Strategy

CHANGSHA, China, Nov. 3, 2019 /PRNewswire/ -- SANY Group, a global manufacturer of construction and mining equipment, has hosted the 2019 SANY Global Dealer Summit (the "Summit") from October 29 to 31 in Changsha, China. The three-day Summit was joined by more than 400 dealers from home and abroad, who are working together with SANY to develop a global market, promote the group's international strategy and conduct an annual review.

Themed "Breakthroughs, Growth, Win-Win," the Summit reviewed SANY's performance in the global market and proposed an updated cooperative policy to promote global dealer cooperation further.

Xiang Wenbo, president of SANY Heavy Industry, gave a keynote speech at the Summit on SANY's record-breaking sales performance in 2019 and accomplishing the goal of serving global customers with high-end products and services.

"SANY's success in the global market cannot happen without the support of our dealers and partners, who are working tirelessly every day to strengthen the SANY brand," noted Xiang. "SANY was established on the mission to 'change the world with quality' and refreshing the image of Chinese products on an international stage, we hope to work closely with everyone to continue solving the problems in parts, training, quality and services and unremittingly improving SANY's products and operations."

Outstanding overseas dealers also shared successful cases during the Summit and praised SANY's leading confidence in international development. Zhang Zhigang, president of Tian Tang Group, SANY's dealer in Uganda, has been a partner with SANY for eight years. Tian Tang opened a high-level SANY service shop in Uganda in 2018, where sales in exceeded USD 10 million in 2019. Mr Evason, CEO of Rhombus Construction, a leading construction solutions provider in East Africa that represents SANY in Kenya, shared the results of working with major construction projects and introducing a 'big data' model in aftersales services.

International sales increase at a compound annual growth rate of 20%

SANY's annual profit growth has exceeded 30%, at a compound annual growth rate (CAGR) of 20% in overseas markets during the past three years. In 2019, SANY saw significant growth in expanding market shares globally. In the first half of 2019, SANY achieved international revenue of 7.926 billion yuan (USD 9.95 billion), a 15.34 percent year-on-year increase above the industry average.

In expanding global markets, SANY achieved excellent results in Europe and Asia in 2019:

• In Europe, French dealer B2M TP purchased 80 SANY excavators;
• In Cambodia, SANY's sales have increased by 300 percent;
• In Kuwait, SANY now holds an 80 percent share in the heavy-duty truck market, 60 percent in excavator and loader, and 50 percent in the road machinery sector;
• SANY's market share in Thailand reached 70 percent in 2019, while the annual goal of selling 1,500 pieces of equipment in Indonesia was surpassed in 2019 as well.

SANY's overseas sales have accounted for more than 40 percent of the total, among which 70 percent originated in countries and regions that are part of the 'Belt and Road' Initiative.

According to SANY, the heavy construction equipment industry has significantly benefited from the "Belt and Road" Initiative, which connected facilities along the route to drive up the demand for construction machinery, and the improvement of national trade is also leading to expanded export of China's advantaged equipment products.

As a leading heavy equipment manufacturer, SANY has shared in the dividends of the Initiative and will continue to pursue win-win results with its global partners.

About SANY Group

Established in 1989, SANY is a global manufacturer of industry-leading construction and mining equipment, port and oil drilling machinery, and renewable wind-energy systems. To date, SANY has built 25 manufacturing bases, six sales regions and over 100 offices with more than 400 dealers and 8,000 suppliers worldwide. In China, SANY has established seven industrial parks in Beijing, Changsha, Shanghai, Shenyang, Zhuhai, Kunshan and Urumqi. With global R&D centres and manufacturing bases in the U.S., Germany and India, SANY's products are exported to 150 countries and regions.

For more information, please visit https://www.sanyglobal.com/

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