Strengthening global presence, demonstrating high-end intelligence with 52.85% YOY Growth in Overseas Revenue in Q1
CHANGSHA, China, May 16, 2024 -- In a strategic move to further develop the global construction machinery market, Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion", 01157.HK) has significantly advanced its market position by participating in multiple prestigious international exhibitions. These initiatives serve as vital platforms for demonstrating the company's capabilities and securing orders, significantly propelling the rapid growth of its international business.
Zoomlion is targeting high-end markets in Europe and North America by localizing manufacturing and engaging in regional expos to enhance its brand image and competitive edge. Concurrently, the company is making advances into emerging markets in Asia, Africa, and Latin America, proving the competitiveness of its products through participation in significant local exhibitions.
In 2023, Zoomlion achieved a record overseas revenue of 17.905 billion yuan (US$ 2.48 billion), continuing this strong growth into the first quarter of this year with a 52.85% increase in overseas revenue, which reached 5.703 billion yuan (US$ 790.26 million) and accounted for 48% of its total revenue.
Recent exhibition highlights and achievements:
- ARA Show in the United States: Zoomlion showcased a range of machinery, including earthmoving and aerial working platforms, specifically targeting North American demands for compact equipment such as the ZE35GU excavator and the ZS090V skid steer loader.
- INTERMAT 2024 in France: Zoomlion launched two tailor-made fully electric scissor lifts for the European market, along with multiple green products, including hybrid mixers and electric aerial working platforms, demonstrating its commitment to sustainability.
- Mining and Construction Vietnam 2024: The company exhibited large excavators and concrete pumps, and catered to Southeast Asia's humid conditions with specially designed products that meet local requirements.
- M&T Expo in Brazil: Zoomlion showcased the "ZMC" series cranes, designed specifically for the Brazilian market, and also garnered over 50 million yuan (US$ 6.93 million) in orders.
- China-Africa Economic and Trade Expo in Africa (KENYA) 2024: Customized right-hand drive mobile cranes catered specifically to East African driving conditions, enhancing practicality for local users.
Zoomlion's strategic participation in international exhibitions highlights the company's steadfast commitment in the global market. By leveraging these opportunities, Zoomlion not only showcases its new product lines and innovations but also deepens connections with customers globally. Moreover, the company strengthens its competitiveness through strategic local adaptations, driving significant growth and reinforcing its market position.
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