Sany Heavy Equipment (HKG:0631) recorded a 23% rise in attributable profit in the first quarter to 635.2 million yuan from 515.7 million yuan a year prior, a Thursday filing with the Hong Kong bourse said.

The Chinese heavy equipment maker's revenue rose 15% to 5.88 billion yuan from 5.13 billion yuan in the year-ago period.

The firm attributed the improved results mainly to a higher revenue from certain segments, revenue for a newly acquired lithium business, and a growth in gross profit margin of certain equipment and products.