On February 28, Sunward released its 2017 performance express report, stating that during the reporting period, the company achieved operating revenue of 3.967 billion yuan, up 99.16% year-on-year; net profit attributable to shareholders of the listed company was 171 million yuan, up 155.81% year-on-year; basic earnings per share were 0.1577 yuan, up 77.99% from the same period last year.
Regarding the explosive growth in profit, Sunward stated: "Market demand for construction machinery remained stable, and business revenue grew; within the year, Avmax completed its third equity transfer, which was consolidated and increased."
Looking at the specific figures, in 2017 Sunward's overall production and operations were relatively sound, achieving total operating revenue of 3,966,539,200 yuan, an increase of 1,974,935,500 yuan over the same period last year, up 99.16% year-on-year; operating profit of 238,431,900 yuan, an increase of 198,824,100 yuan over the same period last year, up 501.98% year-on-year; total profit of 280,275,400 yuan, an increase of 167,784,500 yuan over the same period last year, up 149.15% year-on-year; net profit attributable to shareholders of the listed company of 171,188,600 yuan, an increase of 104,267,600 yuan over the same period last year, up 155.81% year-on-year.
"The core products of the company's construction machinery business are piling machinery and excavating machinery. Against the backdrop of industry recovery, both businesses have seen significant recovery," said a market analyst. As the industry's Matthew effect continues to intensify, the company, by focusing on core products, can not only further improve gross margin through economies of scale, but also achieve differentiated competition among products and expand market share in segmented fields.