ZOOMLION HVY IND UNSP/ADR - ZLIOY STOCK NEWS

Zoomlion Heavy Industry Science & Technology Co., (01157.HK) has opened its eighth service center in Thailand, marking a significant expansion in the region. The new center in Phitsanulok aims to enhance response capabilities and service quality for local customers. Zoomlion's Thai subsidiary, established in 2015, now employs 130 staff members across its service centers.

The company's service centers are well-equipped with engineers, vehicles, and spare parts, ensuring prompt and efficient service. Zoomlion recently delivered 246 aerial working platforms to Thai customers, receiving positive feedback. In 2023, Zoomlion reported revenues exceeding RMB 47 billion (approximately US$6.5 billion) and has a global presence in over 140 countries and regions.

Zoomlion Heavy Industry Science & Technology Co., a leading equipment manufacturer, participated in the ISO/TC 96 meetings in Sydney from April 10-19, 2024. The event saw significant progress in several international crane safety standards led by Zoomlion. Dr. Fu Ling and Mr. Yu Lihu represented Zoomlion, reporting on the secretariat's work and reviewing progress across various working groups.

Key projects include ISO 12480-1, which has reached the FDIS stage, detailing crane safety principles, and ISO 4302, focusing on wind load assessment with new storm wind data for China. Zoomlion's contributions highlight its commitment to global construction machinery safety and efficiency improvements.

Zoomlion has significantly expanded its global market presence, now covering over 140 countries and regions. In May, the company opened a comprehensive customer center in southern Vietnam. In 2023, Zoomlion achieved an impressive overseas revenue of 17.9 billion RMB (US$2.47 billion), a 79.2% year-on-year increase, with overseas income accounting for nearly 40% of the total.

Zoomlion has established over 30 primary business hubs and more than 350 secondary retail locations worldwide, employing over 3,000 people overseas. Their strategic global expansion includes new retail locations and subsidiaries in Laos, Australia, Thailand, Malaysia, Nigeria, and Oman. Zoomlion's engineering cranes have secured the highest market share in Turkey and Central Asia.

Looking forward, Zoomlion plans to optimize its overseas businesses by enhancing digital transformation, boosting risk-control capabilities, and building an efficient management system to accelerate future growth.

Zoomlion Heavy Industry Science & Technology Co. continues to lead in efficiency and precision with its advanced equipment. A 110-ton Zoomlion crane installed a 33-ton engine unit in Indonesia's Batang Toru hydroelectric plant, and a 2,000-ton crawler crane installed a 473.03-ton dome at Tianwan Nuclear Power Plant in China. Earlier, customized ZT115A mining dump trucks were delivered to the DR Congo. In 2024, 500 custom tractors will be introduced to Nigeria, along with technical training for local farmers. Zoomlion's collaboration with Ahmadu Bello University supports agricultural education. The company is dedicated to technological innovation and global social responsibility.

Zoomlion Heavy Industry Science & Technology announced the launch of its digital twin platform, now operational at a concrete batching plant in Hubei province, China. The 3D virtual model facilitates intelligent operations in the ready-mix concrete industry by bridging digital silos and enhancing business efficiency, sustainability, and profitability.

The platform integrates virtual inspections, equipment monitoring, and fault detection, providing real-time status updates of facilities. Users can manage six factory segments including production, maintenance, inventory, raw material tracking, security, and logistics scheduling. The system supports smarter decision-making and operational efficiency through comprehensive data integration.

Zoomlion aims to lead digital transformation in the industry by developing more digitized and eco-friendly solutions.

Zoomlion has bolstered its global market position by participating in several international exhibitions, showcasing advanced machinery and securing significant orders. The company's overseas revenue saw a 52.85% YoY increase in Q1 2024, reaching 5.703 billion yuan (US$ 790.26 million), which now accounts for 48% of total revenue. Recent achievements include product launches at ARA Show (USA), INTERMAT 2024 (France), Mining and Construction Vietnam 2024, M&T Expo (Brazil), and the China-Africa Economic and Trade Expo (Kenya). The company's strategic focus on localizing manufacturing in high-end and emerging markets has significantly contributed to its global growth.

Zoomlion showcased its latest advancements at INTERMAT 2024 in Paris, featuring cutting-edge products focused on sustainability and intelligence. The exhibit included smart machinery like the R135-8RA tower crane with remote operation capabilities. The company emphasized new energy products and energy-efficient technologies, targeting low-carbon development. Zoomlion's strategic localization efforts and partnerships in Europe aim to enhance market penetration. With a strong focus on digital strategies, Zoomlion has seen significant international growth and expansion.

Zoomlion Heavy Industry Science & Technology Co., will showcase upgraded products at INTERMAT 2024, focusing on greener and intelligent construction machinery. The company's European subsidiaries will also present classic products. Zoomlion emphasizes innovation and green energy-saving technologies in its latest generation of products.

Zoomlion Heavy Industry Science & Technology Co., released its 2023 annual report, showing a 13.08% increase in annual revenue to RMB 47.075 billion and a 58.13% increase in net profit to 3.771 billion yuan. The company's international revenue reached a record high of 38.04% of total revenue, with a 79.2% year-on-year increase. Zoomlion's market position in traditional and emerging sectors improved, with gross profit margins rising by 5.7% to 27.54%.