CONTENTS

• 2004: UNEVEN RESULTS IN SALES AND REVENUES IN CONSTRUCTION EQUIPMENT
• CATERPILLAR TO MANUFACTURE MOTOR GRADERS IN CHINA
• DRAMATIC DECREASE OF EXCAVATOR DEMAND IS EXPECTED IN 2005
• SUMITOMO FOCUSES ON STRENGTHENING ITS DEALER NETWORK
• XUGONG SCIENCE AND TECHNOLOGY: GREAT PROGRESS IN WHEELED LOADERS
• XUZHOU HEAVY MACHINERY WORKS: THE WORLD’S LARGEST CRANE MANUFACTURER
• XUZHOU ROAD MACHINERY GAINS MARKET LEADERSHIP IN GRADERS

• FINANCIAL RESULTS
  • THIRD QUARTER
    • NHL
    • SANY HEAVY INDUSTRY
    • SHANGHAI DIESEL ENGINE
    • ZOOMLION