The Wall Street Journal (link requires registration) is reporting that Chinese equipment manufacturers Sany and Zoomlion have grown substantially during pandemic. Citing increased investment in the country, the Journal reported that financial results for the two company's have grown.
Sany Heavy stock was up 171 percent over year-ago levels, and Zoomlion expects net profit for 2020 to rise between 60 percent and 72 percent, the paper reported.
The paper reported that not only domestic sales have increased, but also exports, allowing the two firms to "gain ground" on Caterpillar and Komatsu in China.
Source: Wall Street Journal
