Sant Songzheng's Mid-Year Work Summary: Opportunities and Challenges in Parallel

      The first half of 2024 has come to an end. In this challenging year, the entire construction machinery industry has undergone unprecedented trials, with the market failing to show a significant rebound and the industry yet to reach its bottom. The domestic aftermarket for construction machinery is struggling to survive, and competition in the parts market is particularly intense.

      Against this backdrop, Sant Songzheng has demonstrated resilient vitality through the concerted efforts of all employees. Under the correct guidance of the group company, all employees have worked together to overcome difficulties. Although the company did not fully achieve its revenue targets in the first half, its performance still increased by 12.8% compared to the same period last year. This achievement is particularly commendable given the current market situation.

      In the first half, based on the actual market situation, the company assessed the situation and took timely measures. On one hand, it actively maintained its existing market, and on the other hand, it decided to continue expanding its international market by participating in the 2024 Russia International Construction Machinery Exhibition. This not only further developed the markets in Russia, Eastern Europe, and Central Asia but also secured annual procurement plans from multiple internationally renowned mining groups at the exhibition site, laying a solid foundation for sales business in the second half of 2024 and beyond.

      The achievements made by the company in the first half were underpinned by the unity and collaboration among all departments of Sant Songzheng and the unremitting efforts and dedication of every employee, which won the company valuable growth space.

      Facing challenges and seeking opportunities, Sant Songzheng will continue to uphold the spirit of "overcoming difficulties and striving forward". It is bound to occupy a more favorable position in the future market and serve more customers.