SANY INT'L (00631) announced that it expects an annual net profit of approximately 1.6 billion to 1.85 billion yuan, an increase of 49.8% to 73.2% year-on-year.

SANY INT'L (00631) announced that the unaudited annual net profit for the period is expected to be between RMB 16 billion and RMB 18.5 billion, an increase of 49.8% to 73.2% compared to the 2024 fiscal year. The increase in profit is mainly attributed to the following reasons: Significantly reduced impairment losses on certain assets: For the fiscal year ending on December 31, 2024, (i) the group recorded an impairment loss on goodwill of approximately RMB 470 million in the oil and gas equipment business; and (ii) an impairment loss of approximately RMB 278 million on properties held for sale. For the fiscal year ending on December 31, 2025, the group recorded an impairment loss of approximately RMB 72.1 million on goodwill, with no further impairment losses on properties held for sale. The group has been actively implementing globalization, digitalization, and low-carbon strategies, resulting in continued growth in revenue from the port machinery, power battery, and overseas mining cart revenue; and On July 22, 2024, the group completed the acquisition of the lithium energy business, which brought in new sources of revenue.