17.02.2021

Zoomlion trading statement

Chinese crane, aerial lift and construction equipment manufacturer Zoomlion has issued an upbeat trading statement for the full year 2020.

It states that international sales jumped 20 percent, which would take it to around 4.3 billion Yuan ($660 million). The statement does not mention total revenues, but it does state that it expects to achieve a net profit of between seven and 7.5 billion Yuan ($1.08 – 1.16 billion) an increase of around 60 to 72 percent on 2019.

Li Bin, deputy general manager overseas, said: “Despite the downtrend in the global economy, Zoomlion's sales revenue in international markets saw a strong upward trend in 2020. Thanks to our core competitiveness, especially big investments in research and development as well as carrying out an integrated localization strategy.”

"We will continue investing in R&D for international markets, we have more engineers to study the overseas market and develop usable models. It's a good time to hire more local employees to assist our business worldwide."

"In 2021 we forecast that there will 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."

Zoomlion will publish its full results around the end of March.