Zoomlion Reports 20 Percent Increase in International Sales Revenue in 2020, Aims to Deepen Localization in 2021
CHANGSHA, China, Feb. 10, 2021 /PRNewswire/ -- 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.
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