PR85355

CHANGSHA, China, Sept. 1, 2020 /PRNewswire=KYODO JBN/ --

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

2020 interim report on August 21.

Key Highlights:

- Operating income equaled CNY 28.827 billion (USD 4.178 billion), an increase

of 29.49% YoY.

- Net profit attributable to shareholders of the company was CNY 4.018 billion

(USD 582.361 million), an increase of 55.97% YoY.

"Though affected by COVID-19, the construction machinery industry in China

experienced sustained growth due to China's macroeconomic regulations, New

Infrastructure projects and the rebound of smart manufacturing," said Yang

Duzhi, Secretary of the Board of Zoomlion. "During the reporting period, we

focused on scale, profit, operating cash flow and sustainable growth. We will

continue to implement an end-to-end business management model, accelerate

digital transformation, control business risks, and improve management efficiency."

During the reporting period, the sales volume of core products increased

significantly year-on-year, with a higher gross profit margin.

- Mobile Cranes: sales continue to dominate the domestic market with steady

growth. Meanwhile, revenue from crawler cranes doubled.

- Concrete Machinery: experience a significant increase in sales. Long Boom

Truck Mounted Pumps and City Pumps continue to dominate the first position for

market share, while the market share of mixer trucks jumped to the top three.

- Tower Cranes: Zoomlion remains the world's leading tower crane manufacturer

by sales volume, hitting a record high. The launch of the latest intelligent W

series tower cranes has further expanded Zoomlion's market share.

- Earth-moving Machinery: sales witness substantial growth year-on-year due to

product innovation, sales model, market layout, and service network. Aerial

Work Platform recorded a 100% improvement in sales and holds one of the largest

market shares.

Expense ratio fell by more than 3.7% YoY, thanks to strict cost and expense

controls, which contributed to an increase in the company's net profit margin.

Sales expense ratio dropped significantly as a result of the implementation of

a new "end-to-end" management model supported by digitalization.

Financial expenses have been reduced considerably due to the efficient use of

funds and reducing the level of debt.

As a result of China's promotion of new infrastructure and urbanization

projects, it is expected that the construction machinery industry will maintain

a high rate of growth. Zoomlion will continuously enhance market

competitiveness, make full preparations for global market demands, and support

long-term, high-quality development

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