Sany First-Half Profit Tumbles 48.6%

(Beijing) Sany Heavy Industry Co. Ltd., one of China's top construction equipment makers, said its revenue fell by nearly 20 percent and its profit tumbled nearly 50 percent in the first half of the year, the result of intense competition amid a slowdown in new construction.

In its midyear report, Sany described the current environment as "in the midst of a slowdown, with signs of stability," referring to demand for its products such as cranes and bulldozers.