PR84060

CHANGSHA, China, May 18, 2020 /PRNewswire=KYODO JBN/ --

Zoomlion Heavy Industry Science & Technology Co., Ltd. (Zoomlion) announced

financial results for its first quarter on April 29. Operating income was 9.066

billion yuan (USD 1.276 billion), 49.9 million yuan (USD 7.05 million) increase

versus the prior-year quarter with strong growth seen in concrete machinery,

mobile cranes and construction hoisting product sales. Net profit attributable

to equity shareholders of the Company was 1.026 billion yuan (USD 145 million),

delivering a 2.39% year-on-year growth.

Despite the COVID-19 pandemic, the safety and health of our workforce,

partners, and communities, as well as continuing to operate with growth remain

the company's top priorities. Zoomlion implemented several precautionary

measures to protect the health of returning employees. The high return-to-work

rate also ensured the company is meeting the strong and increasing market

demand from home and abroad. New business forms such as "Cloud Marketing" have

strengthened the business operation and led to better profit results. The

revenue growth rate is significantly higher than the average performance in the

industry.

Q1 Business Updates

Benefiting from improvements in product competitiveness, the company's stronger

business sectors continue to grow steadily, while emerging business sectors

have started to boom. The market share reached the highest level in company

history.

During the first quarter, the sales volume of Zoomlion's concrete machinery

products witnessed strong growth, retaining the leading position in the market.

The sales volume of pump truck products increased by 25% year-on-year and

reached the highest sales peak in recent years. The market share of mobile

cranes has also grown significantly, with sales both at home and abroad,

achieving a record high. Zoomlion continues to maintain the leading position in

the construction hoisting category. The booming of the agricultural machinery

industry has lead to increased sales of the company's agricultural machinery

business sector, which significantly improved the company's profitability. New

products such as rice seedling throwers have enjoyed a favorable sales figure

in the market. Zoomlion actively explored the market in the earth moving

machinery sector and achieved a significant year-on-year growth in sales, while

the successful launch of the arm aerial work platform bring forth new growth

opportunities to the company.

COVID-19 Pandemic

In response to COVID-19, Zoomlion actively took precautionary measures to

ensure workplace safety prior to the resumption of work and production. Since

returning to work from February 5, the company's production capacity has

quickly recovered.

As of the report is being released, the company's production capacity has

reached the same level as the time before the outbreak of COVID-19, with the

total return-to-work rate reaching 100%. Sales in the second quarter are

expected to achieve better growth.

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 55 product lines

covering ten significant categories.

SOURCE: Zoomlion