Shantui's H1 Revenue RMB 8.278 Billion, Net Profit RMB 681 Million, Overseas Share Exceeds 60% First Time
Shantui reported H1 2026 revenue of RMB 8.278 billion, up 18.19% year-on-year, and net profit attributable to shareholders of RMB 681 million, up 19.03%. Overseas revenue reached RMB 5.047 billion, up 29.33%, lifting the overseas share to 60.97% from 55.72%, the first time above 60%. The overseas gross margin was 29.15%, well above domestic's 10.42%. The excavator business became the top revenue segment, and the company's bulldozer retained its No. 1 domestic market share for 22 years. The stock closed at RMB 10.85, down 4.82%.
On August 10, Shantui disclosed its 2026 semi-annual report. In the first half, revenue was RMB 8.278 billion, up 18.19% year-on-year; net profit attributable to shareholders was RMB 681 million, up 19.03%; non-GAAP net profit was RMB 681 million, up 20.03%. Overseas revenue was RMB 5.047 billion, up 29.33%, and the overseas revenue share rose from 55.72% in the same period of 2025 to 60.97%, exceeding 60% for the first time. The gross margin for overseas business was 29.15%, 18.73 percentage points higher than the domestic business's 10.42%, and up 2.31 percentage points year-on-year.
In the first half of 2026, China's construction machinery import and export trade volume reached USD 35.627 billion, up 20.5% year-on-year, with exports of USD 34.373 billion, up 21.7%. Major excavator manufacturers sold 152,320 excavators, up 26.4%, including 79,025 units domestically (up 20.4%) and 73,295 units for export (up 33.5%).
Shantui's excavator business became its largest revenue segment, with subsidiary Shanjian Heavy Industry posting revenue of RMB 2.101 billion and net profit of RMB 221 million. The company launched AI-powered electric unmanned bulldozers and 5G remote-controlled bulldozers, and its new-energy models obtained EU CE certification. Its bulldozer has maintained the No. 1 domestic market share for 22 consecutive years and ranks among the global top three in sales. Products cover more than 160 countries, with 14 overseas subsidiaries. As of the close on August 11, the stock price was RMB 10.85 per share, down 4.82%, with a total market capitalization of approximately RMB 16.3 billion.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is positive for Construction Machinery, with intensity 60/100 and 80% confidence over a short term horizon.
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.