Sany's 2018 in Line With Prelim; FVE Raised but Shares Still Overvalued on Long-Term Uncertainties
Sany announced that preliminary full-year 2018 net profit is expected to increase by 182%-202% year over year to CNY 5.90 billion to CNY 6.32 billion from CNY 2.09 billion in 2017. The results were above our expectations and imply that Sany’s net profit for fourth-quarter 2018 was around CNY 1.02 billion to CNY 1.44 billion, a sharp increase from CNY 290 million during the same period last year. Management attributed the strong full-year 2018 performance to robust demand for its machinery, espec...SANY HEAVY INDUSTRY CO.,LTD is a China-based company principally engaged in the research and development, manufacture, distribution and provision of services of engineering machinery. The Company's major products are categorized into five types, which are concrete machinery, excavating machinery, hoisting machinery, pile driving machinery and road construction machinery, including truck-mounted concrete pumps, trailer concrete pumps, excavators, truck cranes, rotary drilling rigs and sets of road equipment, among others. The Company distributes its products in both domestic and to overseas markets.
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