Plant.ca

Sany named by Forbes as China’s largest heavy equipment company

May 27, 2021   Maryam Farag

Photo: Sany Group.

Sany, at 468th, ranked the first by Forbes among heavy equipment manufacturers in China and the second in the world, after Caterpillar.

The 19th Annual Forbes Global 2000 list ranks the “world’s largest public companies by metrics including market value, sales, profits and assets.”

Sany surged 235 places to enter the Forbes TOP500 Club for the first time with yearly sales volume of US$14.4 billion, revenue of US$2.2 billion, asset value of US$19.3 billion, and market value of US$41.2 billion.

Sany suffered a 27-per cent reduction in the global market for construction machinery when COVID-19 pandemic began in the first quarter of 2020.

Advertisement

Sany’s first quarter of 2021 revenue reached US$5.17 billion, an increase of 90 per cent year-on-year.