With 116 Percent Profit Growth in 2019, Zoomlion Delivers Best Operating Performance

Zoomlion

PR83626

 

CHANGSHA, China, April 9, 2020 /PRNewswire=KYODO JBN/--

 

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

a 116.42 percent increase in profit attributable to shareholders of the listed

company to RMB 4.371 billion (USD 616.18 million) for the year ending December

31, 2019, in its annual report released on March 30, 2020, with yearly

operation revenue reaching RMB 43.307 billion (USD 6.105 billion), a 50.92

percent year-on-year increase.

 

According to the report, Zoomlion has maintained its position as the top holder

of market shares in the hoisting machinery and concrete machinery sectors.

Ranking No.1 for sales of construction hoisting machinery products and

achieving the best performance in engineering hoisting machinery market in the

past five years.

 

"The quality and steady growth of Zoomlion is the result of our continuing

advancement and the company's persistence in high-quality development and

innovation for digital transformation. Zoomlion has delivered the best

operating performance in history with significant improvements in management,

risk control and resource coordination capabilities," said Yang Duzhi, Board

Secretary of Zoomlion.

 

Zoomlion has introduced a series of measure to control and manage the cost to

achieve healthy growth. The annual gross profit in 2019 was increased by 67.14

percent to RMB 12.993 billion (USD 1.83 billion), while the expense ratio was

lowered by 0.96 percent.

 

Zoomlion's operational cash flow in 2019 was also the best in the history of

the company at RMB 6.219 billion (USD 876.69 million), a 22.81 percent increase

year-on-year.

 

"In future, Zoomlion will focus on exploring new technologies and concepts such

as industrial Internet, big data, blockchain and AI. We are confident we can

continue to lead China's manufacturing industries and create more significant

earnings and greater value for all shareholders," said Yang.

 

While promoting high-quality improvement, Zoomlion also fulfilled its corporate

social responsibilities – procuring medical supplies in support of the control

and prevention of COVID-19 in China. Zoomlion also participated in the

construction of makeshift hospitals including the Huoshenshan and Leishenshan

field hospitals and donated nearly 800,000 masks to more than 40 countries

worldwide.

 

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

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