#China #Shanghai #SANY Group #SANY Heavy Industry #SANY Renewable Energy

SANY Group's Remarkable Achievement in the 2024 EU R&D Scoreboard

In a remarkable display of innovation and research capabilities, SANY Group has secured a position on the prestigious 2024 EU Industrial R&D Investment Scoreboard, commonly referred to as the Global Innovation Leaders List. This accomplishment, announced by the European Commission, highlights SANY Group's commitment to technological advancement and global competitiveness.

A Look at SANY’s Rankings

According to the latest report, SANY Group, a renowned manufacturer of engineering equipment based in China, has three of its listed subsidiaries achieving notable ranks internationally: SANY Heavy Industry at 313th, SANY International at 863rd, and SANY Renewable Energy at 1,508th globally. These placements are a testament to the companies' remarkable investment in research and development (R&D) and their technological expertise, underscoring SANY’s position as a leader in construction machinery and related sectors.

The EU R&D Scoreboard, which has been published annually since 2004, tracks the innovation of the world’s top 2,000 manufacturers, who comprise an impressive 85% of global R&D investments, totaling around €1.26 trillion in 2023. Among the 579 Chinese companies featured, SANY Group notably excelled, scoring high within China's own R&D ranking

Investment in Innovation

SANY Heavy Industry continues to dominate China's construction machinery sector, demonstrating a strong commitment to innovation as a core value. In 2023 alone, the company invested approximately $810 million (or 5.865 billion yuan) in R&D. This funding has been pivotal in advancing renewable energy solutions and intelligent construction systems, along with expanding SANY's global product offerings. One of the noteworthy achievements during the year includes an impressive 1,533 authorized patents, of which over 55% are earmarked for new inventions.

Guided by China's initiatives for carbon neutrality and peaking emissions, SANY Group is at the forefront of the green technology revolution. The company has successfully mass-produced low-carbon equipment such as electric mixer trucks and hydrogen-powered mining trucks, marking significant milestones in the industry. Additionally, SANY has pioneered transformative innovations, including the world’s first 5G remote-controlled excavator and fleets of unmanned road rollers.

Global Network and Future Prospects

SANY Group's R&D network extends across 12 countries and regions, including heavyweights like the United States, Germany, and India, creating a robust platform for global collaborative innovation. Industry analysts express optimism about SANY Group's ongoing commitment to R&D, predicting that the strategy of maintaining annual R&D spending exceeding 5% of revenue, alongside the commercialization of cutting-edge AIoT and digital twin technologies, will usher sustained growth and global expansion.

The Group has set ambitious goals, including enhancing its R&D efficiency by 30% within the next three years. This strategic resolve aims to facilitate SANY's transformation and bolster its reputation from 'Made in China' to 'Intelligently Designed for the World.'

With continued investment in R&D and a commitment to sustainable and innovative solutions, SANY Group stands poised to lead the charge in the global engineering equipment sector, setting benchmarks for future technological advancements.