Zoomlion Accelerates Global Market Growth with Impressive Showings at International Expos

Rhea-AI Summary

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.

Positive

• Overseas revenue increased by 52.85% YoY in Q1 2024, reaching 5.703 billion yuan (US$ 790.26 million).
• International revenue accounted for 48% of total revenue in Q1 2024.
• Participation in high-profile international exhibitions enhances brand image and secures significant orders.
• Localized manufacturing in Europe and North America targets high-end markets, boosting competitiveness.
• Successful launch of tailored products at major expos, including eco-friendly machinery in Europe.
• Secured over 50 million yuan (US$ 6.93 million) in orders at the M&T Expo in Brazil.

Negative

• High dependency on overseas markets, with 48% of revenue from international sources, may increase risks related to global economic fluctuations.
• Potential high costs associated with participating in numerous international exhibitions and localizing manufacturing.

Strengthening global presence, demonstrating high-end intelligence with 52.85% YOY Growth in Overseas Revenue in Q1

CHANGSHA, China, May 16, 2024 /PRNewswire/ -- In a strategic move to further develop the global construction machinery market, Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion", 01157.HK) has significantly advanced its market position by participating in multiple prestigious international exhibitions. These initiatives serve as vital platforms for demonstrating the company's capabilities and securing orders, significantly propelling the rapid growth of its international business.

Zoomlion is targeting high-end markets in Europe and North America by localizing manufacturing and engaging in regional expos to enhance its brand image and competitive edge. Concurrently, the company is making advances into emerging markets in Asia, Africa, and Latin America, proving the competitiveness of its products through participation in significant local exhibitions.

In 2023, Zoomlion achieved a record overseas revenue of 17.905 billion yuan (US$ 2.48 billion), continuing this strong growth into the first quarter of this year with a 52.85% increase in overseas revenue, which reached 5.703 billion yuan (US$ 790.26 million) and accounted for 48% of its total revenue.

Recent exhibition highlights and achievements:

• ARA Show in the United States: Zoomlion showcased a range of machinery, including earthmoving and aerial working platforms, specifically targeting North American demands for compact equipment such as the ZE35GU excavator and the ZS090V skid steer loader.
• INTERMAT 2024 in France: Zoomlion launched two tailor-made fully electric scissor lifts for the European market, along with multiple green products, including hybrid mixers and electric aerial working platforms, demonstrating its commitment to sustainability.
• Mining and Construction Vietnam 2024: The company exhibited large excavators and concrete pumps, and catered to Southeast Asia's humid conditions with specially designed products that meet local requirements.
• M&T Expo in Brazil: Zoomlion showcased the "ZMC" series cranes, designed specifically for the Brazilian market, and also garnered over 50 million yuan (US$ 6.93 million) in orders.
• China-Africa Economic and Trade Expo in Africa (KENYA) 2024: Customized right-hand drive mobile cranes catered specifically to East African driving conditions, enhancing practicality for local users.

Zoomlion's strategic participation in international exhibitions highlights the company's steadfast commitment in the global market. By leveraging these opportunities, Zoomlion not only showcases its new product lines and innovations but also deepens connections with customers globally. Moreover, the company strengthens its competitiveness through strategic local adaptations, driving significant growth and reinforcing its market position.

View original content:https://www.prnewswire.com/news-releases/zoomlion-accelerates-global-market-growth-with-impressive-showings-at-international-expos-302147676.html

SOURCE Zoomlion

FAQ

What is Zoomlion's overseas revenue growth in Q1 2024?

Zoomlion's overseas revenue grew by 52.85% YoY in Q1 2024, reaching 5.703 billion yuan (US$ 790.26 million).

How much of Zoomlion's total revenue comes from international markets?

In Q1 2024, 48% of Zoomlion's total revenue came from international markets.

What exhibitions did Zoomlion participate in recently?

Zoomlion recently participated in the ARA Show (USA), INTERMAT 2024 (France), Mining and Construction Vietnam 2024, M&T Expo (Brazil), and the China-Africa Economic and Trade Expo (Kenya).

What new products did Zoomlion launch at INTERMAT 2024 in France?

At INTERMAT 2024, Zoomlion launched two fully electric scissor lifts and multiple green products, including hybrid mixers and electric aerial working platforms.

How much revenue did Zoomlion secure at the M&T Expo in Brazil?

Zoomlion secured over 50 million yuan (US$ 6.93 million) in orders at the M&T Expo in Brazil.

What is the stock symbol for Zoomlion?

The stock symbol for Zoomlion is ZLIOY.