PR88035

CHANGSHA, China, Feb. 10, 2021 /PRNewswire=KYODO JBN/ --

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

an attributable net profit of 7 to 7.5 billion yuan ($US1.08-1.16 billion) in

its 2020 performance forecast released on January 20, achieving 60-72 percent

year-on-year growth. Profit after deduction of non-recurring gains and losses

increased by 74-93.5 percent year-on-year.

Despite the downtrend in the global economy, Zoomlion's sales revenue in

international markets saw a strong upward trend in 2020. Li Bin, deputy general

manager of Zoomlion Overseas Company, attributed the achievement to the

company's core competitiveness, especially big investments in research and

development as well as carrying out an integrated localization strategy.

Zoomlion's R&D program for 4.0 intelligent machinery has brought a lineup of

industry-leading technologies and products to customers worldwide, and as

Chinese employees have been unable to travel abroad due to the COVID-19

pandemic, Zoomlion is hiring more local employees to expand the businesses in

international markets.

"We'll continue investing in R&D for international markets, we have more

engineers to study the overseas market and develop usable models," said Li.

"It's a good time to hire more local employees to assist our business

worldwide."

During the pandemic, Zoomlion hired over 200 local employees across different

international markets including Indonesia, Thailand, Russia, UAE, Saudi Arabia

and more. The company's localization rate in terms of talent has exceeded 85

percent.

For Zoomlion, it is a big challenge to manage international talents from

different cultures and religious backgrounds, and the company shows full

respect to every employee. Zoomlion uses internet platforms such as Zoom and

WeChat for meetings and shares the company's core values and vision through

social media platforms including Facebook, Twitter, and YouTube.

"In 2021, from our estimation, there'll be a recovery in the global economy. It

is our plan to extend our global business with more resources. We will continue

to collaborate with our partners, colleagues and customers around the world to

create a beautiful and sustainable future together," remarked Li.

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 56 product lines

covering ten significant categories.

SOURCE:Zoomlion