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Thematic (Sector/Industry)

China Machinery / Thematic (Sector/Industry)

<ul><li>A slowing economy due to repeated Covid-19 outbreaks and subsequent lockdowns delivered a one-two punch to Sany Heavy Industry Co. Ltd. last year</li><li>The company attributed the lackluster earnings estimate to the macroeconomic slowdown, which saw China’s GDP growth come in at the second-slowest in more than four decades</li><li>Sany’s profit warning serves as an indication of how China’s domestic construction machinery industry is struggling.</li></ul>

A slowing economy due to repeated Covid-19 outbreaks and subsequent lockdowns delivered a one-two punch to Sany Heavy Industry Co. Ltd. last yearThe company attributed the lackluster earnings estimate to the macroeconomic slowdown, which saw China’s GDP growth come in at the second-slowest in more than four decadesSany’s profit warning serves as an indication of how China’s domestic construction machinery industry is struggling.

Sany Heavy, Zoomlion Warn of Tumbling Profits on Covid-Hit Economy