Zoomlion 2023 Annual Report Marks Record 79.2% YoY Increase in International Revenue to Reach 17.005 Billion Chinese Yuan

Rhea-AI Summary

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%.

Positive

• Zoomlion achieved a significant increase in both annual revenue and net profit in 2023.
• The company's international revenue reached a record high, accounting for 38.04% of total revenue.
• Market position in traditional and emerging sectors saw improvements.
• Gross profit margins increased by 5.7% to reach 27.54% in 2023.

Negative

• None.

CHANGSHA, China, April 2, 2024 /PRNewswire/ -- Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion", 1157.HK), a leading Chinese construction machinery and equipment manufacturer, released its 2023 annual report on the evening of March 28. The company achieved an annual revenue of RMB 47.075 billion, a year-on-year increase of 13.08%, with a net profit of 3.771 billion yuan, a year-on-year increase of 58.13%. The company's international revenue, which further increased to a record high of 38.04% of total revenue, was 17.905 billion yuan, a year-on-year increase of 79.2%.

Zoomlion's market position in traditional sectors has been steadily increasing, with:

• Hoisting machinery revenue climbed to 19.29 billion yuan, a year-on-year increase of 1.6%;
• Concrete machinery revenue achieved 8.6 billion yuan, a year-on-year increase of 1.6%;
• The market position in emerging sectors such as earthmoving machinery, aerial machinery, and mining machinery has significantly improved. Among them, earth-moving machinery revenue was 6.65 billion yuan, a year-on-year increase of 89.3%, with aerial machinery revenue at 5.71 billion yuan, a year-on-year increase of 24.2%.

As of the end of 2023, Zoomlion has built over 30 first-level business hubs and more than 350 second-level outlets around the world, with construction spreading from regional centers to higher-tier cities. The total number of employees outside of China exceeds 3000, and the company's products cover more than 140 countries and regions. Gross profit margins in China and internationally, as well as gross profit margins in each business segment, increased in 2023, with gross profit margins reaching 27.54%, a year-on-year increase of 5.7%.

Zoomlion has harnessed the global village idea, utilizing the end-to-end, direct business approach, along with the digital twin platform, and has steadfastly expanded its international presence via top-tier R&D centers, modern manufacturing units, and expansive sales networks. The company has placed a strong emphasis on advancing the capabilities of its service teams, significantly improving the international customer experience and brand perception.

Zoomlion prioritizes digitization, intelligence, and green as its development focus, aiming to establish an ecological framework of intelligent R&D, scientific management, and advanced manufacturing. Productivity has been enhanced through breakthroughs in core technologies such as 5G, industrial internet, cloud computing, big data, and artificial intelligence. Zoomlion leads the industry in patent applications for digital innovations such as big data and cloud computing, reflecting its commitment to a technologically driven international business approach.

Leveraging intelligent manufacturing, Zoomlion has gained a competitive edge. The focal point, Zoomlion Smart Industrial City, anchors 23 leading smart factories, and by deeply integrating AI, smart manufacturing tech, and equipment, it crafts intelligent, flexible, and eco-friendly production lines. Innovative control algorithms and digital systems swiftly translate research into efficient, collaborative smart factories. This transformation boosts production, efficiency, and delivery metrics significantly, achieving a perfect product qualification rate, a 25% cut in costs, and 52% shorter delivery times.

View original content:https://www.prnewswire.com/news-releases/zoomlion-2023-annual-report-marks-record-79-2-yoy-increase-in-international-revenue-to-reach-17-005-billion-chinese-yuan-302105402.html

SOURCE Zoomlion

FAQ

What was Zoomlion's annual revenue in 2023?

Zoomlion's annual revenue in 2023 was RMB 47.075 billion.

How much was Zoomlion's net profit in 2023?

Zoomlion's net profit in 2023 was 3.771 billion yuan.

What was the year-on-year increase in Zoomlion's international revenue?

Zoomlion's international revenue had a 79.2% year-on-year increase.

What was the gross profit margin for Zoomlion in 2023?

Zoomlion's gross profit margin in 2023 was 27.54%.

How many first-level business hubs has Zoomlion built globally?

Zoomlion has built over 30 first-level business hubs globally.

What technologies has Zoomlion focused on for productivity enhancement?

Zoomlion has focused on technologies such as 5G, industrial internet, cloud computing, big data, and artificial intelligence for productivity enhancement.

What is the name of Zoomlion's smart industrial city?

Zoomlion's smart industrial city is called Zoomlion Smart Industrial City.

How much did Zoomlion reduce costs through intelligent manufacturing?

Zoomlion achieved a 25% reduction in costs through intelligent manufacturing.