China-based original equipment manufacturer Sany has revealed that in the first half of 2019 the company achieved international revenue of CNY7.9 billion (USD$9.95 billion).
According to the company, annual profit growth exceeded 30%, at a compound annual growth rate (CAGR) of 20% in overseas markets during the past three years.
The results were revealed during Sany’s global dealer summit. The three-day event was held in Changsha, China, and was attended by more than 400 dealers from China and different counties around the world.
The company said that it enjoyed good sales in Europe and Asia in 2019 and highlighted particularly strong sales results in Cambodia, Kuwait, France and Thailand.
Sany’s overseas sales are said to account for around 40% of the company’s total sales, with the Belt and Road Initiative playing a key role in driving growth.