CHANGSHA, China, April 7, 2023 /PRNewswire/ -- On March 30, Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion") released its 2022 annual report.
Key highlights:
In 2022, Zoomlion accelerated the transformation of digitalization, intelligence, and sustainability, focusing on its three-pillar segments: construction machinery, agricultural machinery + smart agriculture, and new construction materials, while expanding its emerging and overseas business segments.
Firm market position of leading products with strong breakthroughs in emerging sectors
Concrete equipment, engineering hoisting machinery, and construction hoisting machinery maintained their market dominance. Concrete machines, long boom pump trucks, and 200-ton all-terrain cranes continued to top the market. The Earthmoving Machinery Demonstrative Smart Park achieved full production in 2022.
Medium and large excavators with good profitability saw comprehensive upgrading in their reliability and intelligence. The overall market share continuously increased, achieving a revenue of RMB 3.512 billion ($510.7 million). The new construction materials business kept growing rapidly with the market share of dry-mixed mortar equipment remaining in the first tier in China.
Strong growth in international business
By expanding the globalization and localization strategy, the revenue of international business reached RMB 9.992 billion ($1.452 billion), up 72.6% year-over-year. The company's overseas revenue accounted for 24% of total revenue, a year-on-year increase of 15.38 percent.
Zoomlion empowered its global business model through digitization, and continuously improved its strategic layout. The company's sales performance increased by over 100% year-on-year in key markets including Indonesia, India, the United Arab Emirates, Saudi Arabia and Turkey, while the exportation of ZAT8000H all-terrain crane set a new record as China's largest tonnage all-terrain crane that exported overseas.
Technology innovation further drives Zoomlion's intelligent manufacturing
Zoomlion continued to strengthen technological innovation with 127 major new products and 330 key core research, leading the industry in digital, intelligent, and green transformation and upgrading, and consolidating its high-quality development foundation.
Zoomlion developed new single-machine intelligence, human-machine cooperation, and machine-group intelligent collaboration technologies, pioneering the first full-process digital closed-loop construction model and the first green and intelligent construction site. Zoomlion fully automated processes for R&D, supply chain, production, sales, and services. Additionally, the business developed industry-leading essential technologies for full-process intelligent manufacturing, upgrading from host to components.
Zoomlion also prioritizes new energy. Zoomlion innovated in the fields of lithium batteries, electric drives, hydrogen energy, and entire machines, linking the three technological chains of new energy and establishing a new green development scenario.
Looking forward to 2023 and beyond, Zoomlion will continue to accelerate the speeding up of digitalization, intelligence, and sustainability to drive further growth.
