SHANGHAI :
Sany Heavy Gains After Chinese Machinery Maker Doubles First-Half Net Profit
Tang Shihua
DATE:  Jul 18 2019
/ SOURCE:  yicai
Sany Heavy Gains After Chinese Machinery Maker Doubles First-Half Net Profit Sany Heavy Gains After Chinese Machinery Maker Doubles First-Half Net Profit

(Yicai Global) July 18 -- The share price of Sany Heavy Industry opened more than 2 percent higher today after the major Chinese heavy machinery manufacturer forecast its first-half net profit to double from the previous year. 

Sany expects its net profit to rise to a range of CNY6.6 billion and CNY7.1 billion (USD959.8 million up), excluding nonrecurring gains, the Changsha-based company said in a statement. Ongoing infrastructure construction projects have raised the demand for Sany's products, such as excavators, cranes, concrete pumps and piling machines, it added. 

Sany's [SHA: 600031] stock price stood x percent higher at 11.08 a.m. The Shanghai Composite Index, the bourse's main benchmark, was down 0.8 percent. 

Editor: Emmi Laine 

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Keywords:   Financial performance,Share Price,Heavy Machinery,Sany Heavy Industry