Sany’s global ambitions: building a “number one” brand through tech, talent, and localisation

If you want to understand the aims of fast-growing Chinese equipment manufacturer Sany, the clue is in the name.

Literally translated, Sany, or Sānyī, means “three ones” – a reference to the company’s three key aims: to be a number one company, a number one employer, and to make a first-class contribution to society.

Sany retained its position as the sixth-largest manufacturer globally in the latest Yellow Table, reporting annual revenue of $10.8 billion – a 6.6% increase year-on-year. Moreover, Sany Group’s planned Hong Kong IPO, aiming to raise up to $1.5 billion, will further fund global expansion, digitalisation, and decarbonisation. Yu says proceeds will support battery-electric and intelligent products, new facilities, and a global sales and service network.

Speaking through an interpreter from Sany’s sprawling manufacturing complex in Changsha, the capital of Hunan province, Yu Hong Fu, president of Sany Heavy Industry, makes it clear that Sany is still very focused on aiming for number one status.

Globalisation approach

“We have a model for our globalisation approach,” he says. “We’ll localise the operation as much as we can and service always comes first.”

That means relying on local talent rather than sending Chinese employees overseas and ensuring the company integrates with local communities.

“We want to create more jobs for the local community,” Yu explains. “And of course, local employees have a better understanding of the needs and the culture of the local customers.”

Supporting this approach, Sany has been expanding its rental footprint. Since 2020, Sany Rental Machines, based at the company’s Bedburg, Germany headquarters, has helped build rental fleets for both Sany and its dealers. Recent contracts include supplying telehandlers and excavators to AER Rents companies, as well as 10 new excavators to UK-based Rocket Rentals Ltd. Mr Yu notes that these rental initiatives allow Sany to provide machines on flexible terms while reinforcing brand presence and service capabilities across the continent.

In recent months, Chinese OEMs have faced accusations of aggressive pricing in multiple markets, from the US to the EU and the UK. In the UK, allegations by JCB that Chinese imports were “dumped” at low prices led to steep tariffs on machines from 11 to 80 tonnes, while US trade policy remains uncertain.

Sany large excavators. Photo: Sany

Yet Yu says that Sany has not relied on aggressive pricing and wants to differentiate itself through its ambitious tech offering rather than price.

“We don’t want to rely on pricing wars,” Yu says. “We are trying to achieve this through R&D – using our technology as a barrier. We aim to bring value through aftersales support, spare parts, and service, so customers choose based on quality, not price.”

In 2024, Sany invested 6.92% of its revenue – over US$746 million – in R&D, a percentage Mr Yu claims is higher than most global competitors. “And we are looking to increase it further,” he adds.

Electrification and automation are core pillars of Sany’s R&D. The company is developing battery-electric machines and smart, connected equipment, including semi-autonomous and remote-control functions for road, mining, and port machinery.

Yu acknowledges the challenges of operating in the US under the current tariff regime, although he says the impact on Sany so far has been limited.

“For Sany, the US is not a very big market [yet],” he says. “Right now, Sany US is still in the investment phase. We have not achieved the stage where we are looking to recoup a lot of revenue from that market. So in the short term, we don’t see too much of a negative influence.”

Similarly, Yu says the UK’s anti-dumping tariffs of 18.81–40.08% on 11–80 tonne Chinese excavators are unnecessary and unfathomable.

“The UK is definitely a good market for excavators. But still, Chinese products only have a very small market share there. We did not enter into the UK market by pricing very low. So we don’t understand the allegations.”

China market

Nonetheless, Yu points out that the most important market for Sany continues to be China, despite the current construction market slowdown.

Yu says he has “great confidence” in the country’s economic future which, after 10–20 years of rapid expansion, he expects to grow more modestly in the future.

“The structure of the Chinese economy is shifting right now,” he says. “I think this round of shifting and change, it has reached the bottom. And I believe it will start to go uphill from here.”

Sany’s most recent financial results show revenue increases driven by growth across Africa (44%), Asia and Australia (15.5%), and the Americas (6.6%). Yu says that markets in Asia, the Middle East, Africa, and Latin America offer strong potential, with similarities in demand profiles, working conditions, and machine specifications to China’s domestic market.

“These developing countries are rapidly industrialising,” he says. “So they have a growing demand for construction machines – especially the countries around China.”