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