Sany Group enters Financial Times Global 500 listing
13 July 2011Chinese crane manufacturer Sany Heavy Industry has been listed for the first time on the Financial Times’ Global 500 list of the largest publicly traded companies by market capitalisation worldwide.
Ranking at 431 in the 2011 list, Sany claims to be the first Chinese company active in the construction industry that has ever broken into the exclusive rankings and says its stock price has grown by 30% already this year, the fastest growth rate of any construction industry player in China.
Sany’s market capitalisation has grown from ¥4bn ($619m) in June 2005 to a level of ¥137bn ($21.58bn), accurate as of 31st December 2010. The company has recorded compound annual growth rates (CAGR) as high as 80% during that period.
The FT Global 500 listing for Sany Heavy Industries shows the group achieved a turnover of $5,152bn, with a net income of $852m over the review period from 1st January 2011 to 31st December 2011.
Commenting on the listing, Sany Group president Tang Xiuguo said, “The market cap of a company reflects investors’ judgment on the company’s potential and prospect. In a sense, the ranking of market cap can better reflect the company’s competitiveness and brand influence compared with the ranking of pure sales revenue.”
The requirements to be met by companies in the FT Global 500 listings include a minimum of 15% ownership of the company’s total shares as tradable shares, as non-tradable shares are not included in the ranking process. Investment companies are excluded from the rankings.
Sany Group expects to achieve sales revenues of ¥300bn ($46.43bn) by 2015.
