/C O R R E C T I O N -- Zoomlion/

Rhea-AI Summary

Zoomlion's 2023 Annual Report showcases a remarkable 79.2% YoY increase in international revenue, reaching 17.905 billion Chinese Yuan. The company achieved a total revenue of 47.075 billion Chinese Yuan, with a net profit of 3.771 billion Chinese Yuan. Zoomlion's market position in various sectors improved significantly, with gross profit margins rising by 5.7% to 27.54%.

Positive

• Record 79.2% YoY increase in international revenue to 17.905 billion Chinese Yuan
• Total revenue of 47.075 billion Chinese Yuan and net profit of 3.771 billion Chinese Yuan
• Significant improvements in market position across sectors with rising gross profit margins
• Expansion of international presence through R&D centers, manufacturing units, and sales networks

Negative

• None.

In the news release, Zoomlion 2023 Annual Report Marks Record 79.2% YoY Increase in International Revenue to Reach 17.005 Billion Chinese Yuan, issued 02-Apr-2024 by Zoomlion over PR Newswire, we are advised by the company that the headline should read "Zoomlion 2023 Annual Report Marks Record 79.2% YoY Increase in International Revenue to Reach 17.905 Billion Chinese Yuan" rather than "Zoomlion 2023 Annual Report Marks Record 79.2% YoY Increase in International Revenue to Reach 17.005 Billion Chinese Yuan" as originally issued inadvertently. The complete, corrected release follows:

Zoomlion 2023 Annual Report Marks Record 79.2% YoY Increase in International Revenue to Reach 17.905 Billion Chinese Yuan

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 international revenue increase percentage in 2023?

Zoomlion's international revenue increased by 79.2% in 2023.

What was Zoomlion's total revenue in 2023?

Zoomlion's total revenue in 2023 was 47.075 billion Chinese Yuan.

How much was Zoomlion's net profit in 2023?

Zoomlion's net profit in 2023 was 3.771 billion Chinese Yuan.

What were the revenue figures for hoisting machinery in 2023?

Hoisting machinery revenue was 19.29 billion Chinese Yuan in 2023.

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

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

What are Zoomlion's development focuses?

Zoomlion's development focuses are digitization, intelligence, and green initiatives.