On July 30th, Hunan Sunward Intelligent Machinery Co., Ltd. (Sunward for short) issued the half-year performance report of 2008, announcing that the net profit in the first half year was RMB 84.22649255 million Yuan with a year-on-year increase of 42.51%; operational profit of RMB 96.97065164 Yuan with a year-on-year increase of 41.54%; total profits of RMB 97.00092794 Yuan with a year-on-year increase of 40.5%; basic EPS of RMB 0.31 Yuan with a year-on-year increase of 40.91% and rate of return on common stockholders' equity of 6.85% with a year-on-year decrease of 3.35%.

According to the announcement, the reason why the company had such an increase in the performance is that the sales of drilling machinery and compact construction machinery grew up, leading to the increase of operational profits.

About Sunward

Hunan Sunward Intelligent Machinery Co., Ltd. (Sunward for short, Stock Code: 002097) is a hi-tech listed company that integrates production, research and development. And it has become a famous enterprise in the construction machinery industry of China since its establishment in 1999.

The company has a registered capital of RMB 270 million, and total assets of over RMB 120 million. Among over 1700 employees, there are 52% who have college degree or above and over 30 masters, doctors, or post doctorates; and over 200 professional technical personnel. The company owns the First and the Second Sunward Intelligent Industrial Park, which cover 235 mu and 200 Mu respectively. And it also owns the Wuxi Sunward Hydraulic Machinery Co., Ltd., which is exclusively invested by Sunward.

With the core concept of “cultivate the morality, and manage the business; revitalize the enterprise, and flourish the country”, the company gradually establishes the comparable advantage in “independent research, lean production, and integrity management”, and forms the core competence under the guide of He Qinghua, who is the founder and board chairman of Sunward, and also a professor and tutor of doctor in Central South University. The company develops at high speed with a compound annual growth rate of over 70%. During the 8 years, the company has developed high performance and high quality products of some dozens of specifications with independent intellectual property in large piling machinery, compact construction machinery and modern rock drilling equipment, which make Sunward the top brand in China. The company has established the technical innovation system which includes original innovation, integration innovation, open innovation, and consistent innovation. And the products are distributed all over the country, and mass exported to more than 40 countries and regions, such as Europe, Oceania, North America, South-east Asia, and etc.