Zoomlion Captures Broad Blue Ocean Market with Emerging Segments Account for over 20% of Total Revenue in 2021

Rhea-AI Summary

Zoomlion reported its 2021 annual revenue at RMB 67.131 billion, a 3.11% increase from the previous year. Major growth drivers include emerging segments such as aerial work machinery and earthmoving machinery, contributing over 20% of total revenue. The aerial work machinery segment saw a remarkable 310.76% year-over-year growth, while earthmoving machinery revenues surged by 21%. Overall, Zoomlion is focusing on expanding its presence in key segments and geographical markets.

Positive

• Revenue rose to RMB 67.131 billion, up 3.11% year-over-year.
• Emerging segments contributed over 20% of total revenue, up nearly 6 percentage points.
• Earthmoving machinery sales increased by over 21% year-on-year.
• Aerial work machinery sales reached RMB 3.351 billion, a 310.76% increase.
• Strong market presence in construction machinery with RMB 63.523 billion in sales, up 3.49%.

Negative

• None.

CHANGSHA, China, April 1, 2022 /PRNewswire/ -- On March 30, Zoomlion released its 2021 annual report. The company secured operating revenue of RMB 67.131 billion, up 3.11% year over year. Emerging segments such as aerial work machinery, earthmoving machinery, new building materials, agricultural machinery and smart agriculture were responsible for more than 20% of the Company's revenue, a year-on-year increase of nearly 6 percentage points.

In recent years, Zoomlion has been focusing its business plan on three major segments: construction machinery, agricultural machinery + smart agriculture, and new building materials. The annual report suggests that Zoomlion continued to keep construction machinery stabilized and improved in 2021, with an annual sales revenue of RMB 63.523 billion in this respect, up 3.49% over the prior year. Three major products of concrete machinery, engineering hoisting machinery and construction hoisting machinery continued to grow with a solid market position.

The sales revenue of earthmoving machinery, one of Zoomlion's emerging segments, increased by more than 21% compared to the same period in the prior year. The sales volume of medium and large excavator products with relatively good profitability saw substantial growth, and the overall market share increased at a steady pace.

In aerial work machinery, the sales of Zoomlion aerial work machinery were RMB 3.351 billion in 2021, a substantial increase of 310.76% year-on-year. At present, aerial work machinery has had full coverage of the product spectrum of 4-68 meters, making Zoomlion the altitude equipment manufacturer with the most complete models in China. It also performed well in overseas markets, with its operations across 58 countries and regions on five continents, including those upscale markets such as Europe and the United States.

In 2021, the commercialization of AI-enabled intelligent agricultural machinery picked up the pace, and the reliability of harvesting machinery and power machinery products was fully updated. The market share of wheat machines, dryers, rotary tillers, balers and rice throwers stayed at the forefront of the industry in China.

Zoomlion's new building materials business was fully rolled out. The dry-mixed mortar equipment business grew at a stable pace, securing a solid place among the few on top in terms of domestic market share.

Zoomlion will further diversify its operations, accelerate emerging segments, and develop its market in the new blue ocean market.

View original content:https://www.prnewswire.com/news-releases/zoomlion-captures-broad-blue-ocean-market-with-emerging-segments-account-for-over-20-of-total-revenue-in-2021-301516173.html

SOURCE Zoomlion

FAQ

What was Zoomlion's revenue for 2021?

Zoomlion's revenue for 2021 was RMB 67.131 billion, representing a 3.11% increase year-over-year.

How much did aerial work machinery sales increase in 2021?

Sales of aerial work machinery increased by 310.76% in 2021.

What percentage of revenue came from emerging segments in 2021?

Emerging segments accounted for over 20% of Zoomlion's total revenue in 2021.

What was the growth rate of earthmoving machinery sales?

Earthmoving machinery sales grew by more than 21% compared to the previous year.

What was the sales performance of construction machinery in 2021?

Construction machinery sales reached RMB 63.523 billion, up 3.49% from the prior year.