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2008-07-23

Sany Heavy Industry Co., Ltd. was established through the overall alteration of Sany Heavy Industry Group Co., Ltd.

Sany Heavy Industry Group Co., Ltd. was established on Nov. 22, 1994, the predecessor of which was Hunan Lianyuan Welding Material Factory co-founded by Liang Wengen, Tang Xiuguo, Mao Zhongwu, and Yuan Jinhua in Jun. 1989.

In Sep., 1991, Hunan Lianyuan Welding Material Factory was renamed to Hunan Sany Group Co., Ltd.

In Nov., 1994, Hunan Sany Group Co., Ltd. held the board meeting, 8 directors of Liang Wengen, Tang Xiuguo, Xiang Wenbo, Mao Zhongwu, Yuan Jinhua, Zhou Fugui, Zhai Dengke, and Wang Zuochun participated in the meeting. During the meeting, it’s resolved to split Hunan Sany Group Co., Ltd. into Hunan Sany Heavy Industry Group Co., Ltd. and Hunan Sany (Group) Material Industry Co., Ltd. It’s also resolved to specify the scheme for allocation of property rights and allocation of creditor’s rights and liabilities: “to split the Hunan Sany Group Co., Ltd. into Hunan Sany Heavy Industry Group Co., Ltd. and Hunan Sany (Group) Material Industry Co., Ltd., both of which were of tightly-knit enterprises that possessed the corporate qualification, independent undertaking of civil liabilities, and relative independence and equality with liabilities, rights and benefits”.

In Jan., 1995, through the approval of State Administration of Industry and Commerce, Hunan Sany Heavy Industry Group Co., Ltd. was renamed to Sany Heavy Industry Group Co., Ltd.

In Dec., 2000, through the approval from Xiangzhenghan[2000] No. 209 of Hunan Provincial People’s Government, the company was overall altered to Sany Heavy Industry Co., Ltd.

On Jul. 3, 2003, Sany Heavy Industry was listed successfully in Shanghai Stock Exchange, with the stock code at 600031.

On Jul. 30, 2003, Sany Heavy Machine Industry Co., Ltd. was founded, comprised of excavator division, pile driving machinery division, and new material division.

On Jan. 13, 2004, Sany Heavy Equipment Co., Ltd. was established, indicating that Sany has officially marched into the coal machinery manufacture sector.

On Mar. 1, 2004, Sany Holding Co., Ltd. was renamed to Sany Group Co., Ltd.

On Jun. 10, 2005, the experiment of equity allocation and reform of Sany Heavy Industry was completed successfully, initiating successfully the step for China equity allocation and reform. The abbreviation of the company stock was renamed from “Sany Heavy Industry” to “G Sany” from Jun. 17.

On Jun. 17, 2008, SANY Heavy Industry 560 million shares, No. 1 share in China share reformation, were released onto the market and China stock market entered into the complete circulation era formally. However, in order to maintain the stable and well development of china stock market, SANY announced that it would lock the released shares for another 2 years from June 19 and would not reduce its numbers of the SANY Heavy Industry shares.

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