Sany Heavy Energy Co. Ltd. A

Sany Renewable Energy disclosed its 2026 semi-annual report on the evening of August 27. The company achieved operating revenue of 10.66 billion yuan, up 24.04% year on year, and net profit attributable to shareholders of the listed company of 233 million yuan, up 10.99% year on year. Among this, revenue from wind turbine manufacturing was 9.205 billion yuan, up 43.66% year on year. The gross margin for wind turbines was 5.31%, up 0.88 percentage points from the full-year 2025 level, while the domestic wind turbine gross margin rose by 1.42 percentage points. During the reporting period, the company's sales volume was 6.29 gigawatts, with its domestic market share accounting for 15% of national newly installed capacity. Domestic orders in hand were nearly 20 gigawatts. Overseas sales revenue was 933 million yuan, up 300.11% year on year, and overseas orders in hand were nearly 5 gigawatts. The company also signed a memorandum of understanding for a 2-gigawatt large wind power project in Egypt, and the Alibunar wind power project in Serbia officially commenced construction.

Sany Renewable Energy disclosed its half-year report on August 27. In the first half of 2026, it achieved operating revenue of 10.66 billion yuan, up 24.04% year on year; net profit attributable to shareholders of the listed company was 233 million yuan, up 10.99% year on year; basic earnings per share were 0.192 yuan. During the reporting period, domestic wind turbine sales volume continued to grow, market share kept rising, overseas business showed strong momentum, and both sales scale and new orders increased substantially. Profitability of wind turbine products recovered steadily, cost and expense control was effective, and overall asset quality remained sound.

A Cailian Press reporter visited the Huaneng Muchuan Wind Farm in Bairin Right Banner, Inner Mongolia. Sany Renewable Energy's SI-230100 model, with 112-meter all-carbon-fiber blades and a swept area of 230 meters, has become the mainstay equipment for large-scale wind-solar-storage bases in Gobi and desert regions. All 30 of the wind farm's 10 MW turbines were connected to the grid at full capacity on January 23 this year. Over the past three months, availability reached 99.9 percent, and the average number of monthly faults was far below expectations. A relevant executive at Sany Renewable Energy said the company's 10 MW platform was initiated in 2022. To date, nearly 1,000 domestic 10 MW units have been delivered, giving the company a share of more than 30 percent in this market segment and making it the earliest manufacturer to achieve commercial delivery of 10 MW turbines at scale. Industry data show that as of July, publicly awarded onshore 10 MW capacity totaled 12.4 gigawatts, with full-year estimates at around 20 gigawatts. The average winning bid price in the first half of the year was 1,400 to 1,500 yuan per kilowatt, and the average bare turbine price in July recovered to 1,590 yuan per kilowatt.

Sany Renewable Energy Co., Ltd. has undergone a business registration change, with its registered capital increasing from approximately 1.23 billion yuan to about 1.59 billion yuan, a rise of roughly 30%. The company was established in April 2008, with Li Qiang as its legal representative. Its business scope includes manufacturing of mechanical and electrical equipment, manufacturing of generators and generator sets, and wind power technology services.

Sany Heavy Energy announced that on July 8, the company repurchased 684,900 shares for the first time through centralized competitive bidding, accounting for 0.0430% of its total share capital of 1.593 billion shares. The highest repurchase price was 13.95 yuan per share and the lowest was 13.80 yuan per share, with a total payment of approximately 9.502 million yuan. According to the buyback plan previously approved by the board of directors, the company intends to use its own funds of no less than 100 million yuan and no more than 200 million yuan to repurchase shares at a price not exceeding 22.07 yuan per share, for employee stock ownership plans or equity incentives. The repurchase period is within 12 months from the date of board approval. The company stated that it will carry out further repurchases based on market conditions.