BUSINESS

Chart of the Day: China’s Construction Machinery Giants Unearth Growth Overseas

Published: Oct. 31, 2025 7:49 p.m. GMT+8

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China’s three largest makers of construction machinery reported strong revenue and profit growth for the first three quarters of 2025, as they sharpened their focus overseas amid a protracted property downturn at home.

In the nine months through September, Sany Heavy Industry Co. Ltd.’s (600031.SH) net profit attributable to shareholders shot up 46.6% year-on-year to 7.1 billion yuan ($998 million), according to its latest financial report released Friday. Its revenue was up 13.6% to 65.7 billion yuan.

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Sany, XCMG, and Zoomlion saw strong revenue and profit growth in the first nine months of 2025, driven by overseas markets.
Combined, they exported 84,200 excavators, close to domestic sales of 89,900, with significant overseas revenue increases for Zoomlion and XCMG.
All three companies are expanding globally, with new projects and plants in Europe, Latin America, Africa, and Southeast Asia.

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Who’s Who

Sany Heavy Industry Co. Ltd.: Sany Heavy Industry Co. Ltd. ([600031.SH](https://quote.caixin.com/default_f9.html?id=600031.SH)) reported a 46.6% year-on-year increase in net profit, reaching 7.1 billion yuan ($998 million), with revenue up by 13.6% to 65.7 billion yuan for the first three quarters of 2025. The company's expansion into overseas markets is highlighted by Senior Vice President Wang Zheng, who noted Indonesia's role as a global launching point for Sany. The company's focus on overseas markets is a key driver of its growth, alongside other Chinese heavy machinery giants.

XCMG Construction Machinery Co. Ltd.: XCMG Construction Machinery Co. Ltd.'s net profit rose 11.7% year-on-year to 6 billion yuan in the first nine months of 2025, on revenue of 78.2 billion yuan, up 11.6%. The company's overseas revenue totaled 37.6 billion yuan for the period. XCMG's chairman, Yang Dongsheng, stated the company plans to localize more manufacturing in Brazil to serve as a production hub for South American exports.

Zoomlion Heavy Industry Science and Technology Co. Ltd.: For the first three quarters of 2025, Zoomlion Heavy Industry Science and Technology Co. Ltd. saw a 24.9% increase in net profit, reaching 3.9 billion yuan. Its revenue grew 8.1% to 37.2 billion yuan. Overseas revenue significantly contributed, rising 20.8% to 21.3 billion yuan. The company plans expansion in Europe with new plants in Germany and Hungary, and further growth in Africa, Latin America, and Southeast Asia.

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