Zoomlion Announces 2020 Annual Results: Revenue Surged 50.34% YoY to Reach a Record-breaking $US9.92 billion

Rhea-AI Summary

Zoomlion Heavy Industry Science & Technology Co. Ltd. reported a remarkable 2020, with operating income soaring to CNY65.109 billion (USD9.92 billion), a 50.34% year-on-year increase. Net profit attributable to shareholders rose by 66.55% to CNY7.281 billion (USD1.11 billion). The construction machinery segment generated CNY61.383 billion (USD9.35 billion) in sales revenue, up 49.75%. Notably, Zoomlion's global exports of construction crane machinery grew by over 35%, reflecting successful international expansion and localization strategies.

Positive

• Operating income increased by 50.34% year-on-year to CNY65.109 billion (USD9.92 billion).
• Net profit attributable to shareholders rose 66.55% to CNY7.281 billion (USD1.11 billion).
• Construction machinery sales revenue reached CNY61.383 billion (USD9.35 billion), up 49.75%.
• Record sales in tower crane machinery, maintaining the top global market position.
• Export sales of construction crane machinery increased by more than 35% year-on-year.

Negative

• None.

CHANGSHA, China, April 9, 2021 /PRNewswire/ -- On March 30, Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion"; 1157.HK) released its 2020 annual report.

Key Financial Highlights:

• Operating income reached CNY65.109 billion ($US9.92 billion), a year-on-year increase of 50.34%.
• Net profit attributable to shareholders of the listed company reached 7.281 billion yuan ($US1.11 billion), a year-on-year increase of 66.55%.

"Zoomlion experienced a strong 2020," stated Mr. Yang Duzhi, Secretary of the Board of Directors of Zoomlion. "Driven by the solid performance of the company's core products and industry-leading profitability, the company reported a record high in revenue during the reporting period."

Operational Achievements:

In 2020, the company's construction machinery business achieved sales revenue of 61.383 billion yuan ($US9.35 billion), representing a year-on-year increase of 49.75%. The market share of Zoomlion's leading and core products such as crane machinery and concrete machinery is expanding faster than the average level in the industry. Sales of tower crane machinery hit a record high, retaining first spot in the global market. Market share of truck cranes above 30 tonnes capacity, crawler cranes as well as long-boom pump trucks, truck-mounted concrete pumps, and concrete mixing plants remains at the top of the domestic market.

Zoomlion also made breakthroughs in potential markets such as the earthmoving machinery and aerial work platforms (AWP) markets. The sales of earthmoving machinery surged to sixth spot in the domestic market, thanks to its product innovation as well as its sales and marketing strategy. With a fully upgraded lithium battery power system, Zoomlion launched over 40 green intelligent AWPs as of 2020, which enables the product to maintain its leading position in the industry. 

International Achievements:

"Zoomlion also excelled in the global market. By continuously implementing a localization strategy, Zoomlion's international presence witnessed exceptional growth, with export sales of construction crane machinery increasing by more than 35% year-on-year," said Mr. Yang. "The company has established a global manufacturing, sales, and service network that covers over 100 countries and regions, creating core competitiveness in local markets."

The ZCC9800 crawler crane set the record as the largest tonnage crawler crane exported to mature global markets from China. Multiple industrial parks and production bases were established in Belarus, Kazakhstan, India, Pakistan, Indonesia, and Thailand to boost local production. Its subsidiary CIFA has also realized localized production and sales of cranes in Italy.

The company will continue to accelerate its digital transformation, further invest in R&D to upgrade technological products, and deliver strong results for its shareholders.

About Zoomlion

Founded in 1992, Zoomlion Heavy Industry Science & Technology Co., Ltd. (01157.HK) is a high-end equipment manufacturing enterprise that integrates engineering machinery, agricultural machinery, and financial services. The company now sells more than 600 cutting-edge products from 56 product lines covering ten significant categories.

www.zoomlion.com

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SOURCE Zoomlion

FAQ

What financial performance did Zoomlion report in 2020?

Zoomlion reported operating income of CNY65.109 billion (USD9.92 billion) and a net profit of CNY7.281 billion (USD1.11 billion) in 2020.

How did Zoomlion's construction machinery segment perform in 2020?

The construction machinery segment achieved sales revenue of CNY61.383 billion (USD9.35 billion), a year-on-year increase of 49.75%.

What were Zoomlion's key achievements in international markets in 2020?

Zoomlion's export sales of construction crane machinery increased by over 35% year-on-year, reflecting strong international growth.

What is the significance of the ZCC9800 crawler crane for Zoomlion?

The ZCC9800 crawler crane is recognized as the largest tonnage crawler crane exported from China to mature global markets.