Summary of Annual Report In 2006, the company achieved main business revenue of 4.574 billion yuan, up 80.28% over the same period of last year; realized main business profit of 1.625 billion yuan, up 85.14% over the same period of last year; achieved a net profit of 557 million yuan, up 157.70% ; Achieve earnings per share 1.16 yuan. As of December 31, 2006, the company's total assets of 59.17 billion yuan, net assets of 2.647 billion yuan, net assets yield of 21.05%. Investment Highlights Profitability and business quality further improved. Main income increased 80%, net profit increased 158%, is currently the largest net profit of listed companies in construction machinery company, while the company's gross profit margin of concrete machinery increased by 1.02 percentage points, net assets yield increased by nearly 10 percentage points, Accounts receivable accounted for the proportion of sales revenue decreased by 10 percentage points, showing the company's strong profitability and business quality to further improve. Domestic pumping machinery leading position has been consolidated. In 2006, Sany Heavy Industry Co., Ltd., the main product of concrete pump market, continued to make rapid progress with a market share of more than 55%, making it the world's top three pumping machinery manufacturer with Putzmeister and Schweinborn. Overall competitiveness of the strongest, 2007 continued high growth. The purely private equity and private mechanisms have given SANY Heavy Industry Co., Ltd. (MII) quick response speed and strong execution capability, a sound domestic machinery manufacturing base and the presence of a large number of state-owned enterprises, and the transfer of international industries brought new The growth point, we believe that Sany Heavy Industry is the industry's most comprehensive competitiveness of enterprises. With the start-up of Indian factories and the establishment of U.S. companies in 2007, exports will continue to double, concrete machinery will increase by more than 25%, rotary drilling rigs and cranes by more than 100%. I. Achieve substantial growth in financial indicators significantly improve the main income of 4.574 billion yuan, an increase of 80%, net profit of 557 million yuan, up 158%, earnings per share of 1.16 yuan, after deducting non-recurring gains and losses 1.01 yuan, became the current construction machinery Listed companies in the highest net profit of the company. At the same time, the gross profit margin of the Company's concrete machinery increased by 1.02 percentage points, the return on net assets increased by nearly 10 percentage points to 21.05%, the proportion of accounts receivable as a percentage of sales revenue decreased by 10 percentage points, and profitability and business quality further improved. II. Pumping machinery to further consolidate domestic leading position In 2006, Sany Heavy Industry's main product, concrete pump truck continued to vanguard and continue to erode the market share of the remaining manufacturers. The domestic market share has exceeded 55%, becoming the top product of Putzmeister and Schweinborn Of the world's three largest pumping machinery manufacturers, in January 2007, the world's longest boom of the 66-meter pump truck successfully underline, showing its determination and ability to impact the world's leading position. III. 2007 is expected to continue to interpret high-growth story Sany Heavy Industry's main products concrete pump and pump although experiencing years of explosive growth, but at present, China's commercial concrete accounts for only 15% to 20% of cast-in-place concrete, Europe and the United States In developed countries, due to environmental requirements, the proportion of commercial concrete accounts for more than 80% of the total. It is estimated that the proportion of commercial concrete in China will reach over 40% in 2010. With the commercialization of concrete in small and medium cities, the penetration rate of concrete pumps and pump trucks will still be very high Great room for growth, with the progress of the Indian market in 2007 and the United States market, concrete pump exports is expected to continue last year's high growth. We estimate that the profit of concrete pumping machinery will increase by more than 25% in 2007. In 2007, the rotary drilling rig to be injected has the features of large installed power, large output torque, large axial pressure, flexible maneuvering, high construction efficiency and environmental protection. With different drilling tools, it adapts to the geological conditions in most parts of China and becomes a suitable building The foundation works into the hole construction the best construction machinery. Drilling machines at home and abroad into a variety of drilling machines (reverse circulation, rotary drilling rig, a full set of tubes) are very different proportions of foreign large-diameter concrete bored pile construction, rotary drilling rig generally accounts for more than 2/3, reverse circulation drilling machine Almost no longer used in the European market, while the domestic production of reverse drilling drill drilling nearly 90% of production points. Sany Heavy Industry is currently the largest manufacturer of rotary drilling rigs in China, with a market share of about 27%. In 2007, the company will increase the export of rotary drilling rigs to the U.S. market and is expected to achieve a large Breakthrough, rotary drilling rig 2007 sales and profit growth can be more than 100%. At the same time, the company's crawler cranes will also maintain rapid growth. In 2007, 900-ton crawler cranes are expected to be launched and truck cranes will start to enter the market. Conservative crane sales and profits are expected to double. IV. The Most Competitive Enterprise in China's Construction Machinery Industry Sany Heavy Industry is the most motivated enterprise among several large-scale construction machinery enterprises in China. Senior management of the company are all venture capital partners and the major product technologies Leader has equity incentives, management and shareholders of a high degree of unity of interests, full of business incentives. Sufficient incentives Sany Heavy Industry has a very high market sensitivity and speed of response. Since entering the construction machinery industry, accurate grasp of market demand, rapid development of new product capabilities and rapid development of the market ability no one in the industry, Sany Heavy Industry such "wolf" although quite popular in the industry, but But just to adapt to the rapid development of China's industrial characteristics, making SANY multiple strategic opportunities to seize, quickly grow stronger. The more complete domestic machinery manufacturing base and some enterprises with insufficient incentives provided a large number of talents for the extraordinary development of SANY. By attracting the industry elites, independent innovation and the localization of key parts and components, as well as the localization of high-end Business strategy makes Sany's main product concrete pump truck gross profit margin higher than its counterparts more than 5 percentage points, return on net assets is also the industry's highest company. International industrial transfer will give Sany Heavy Industry a new economic growth point. Sany Heavy Industry domestic layout of the initial prototype, the international layout has just kicked off, Sany Heavy Industry in 2006 by investing in Indian and American companies investment programs, and a large number of recruitment of international marketing talent in more than 100 countries in the presence of marketing representatives in 30 There are after-sales service teams in many countries and the international production and marketing networks are expected to bring even more remarkable results in 2007. Sany Heavy Industry not only aspires to become China's Caterpillar, but also looks forward to its long-term management and strategic layout. At present, its domestic layout has taken shape and the international layout has also begun. Both strategic ambitions and agile accomplishments , We think Sany Heavy Industry is the most competitive enterprise among Megawatts domestic construction machinery manufacturers.
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