Zoomlion Heavy Industry Science & Technology Co., Ltd. (Zoomlion) announced 
financial results for its first quarter on April 29. Operating income was 9.066 
billion yuan (USD 1.276 billion), 49.9 million yuan (USD 7.05 million) increase 
versus the prior-year quarter with strong growth seen in concrete machinery, 
mobile cranes and construction hoisting product sales. Net profit attributable 
to equity shareholders of the Company was 1.026 billion yuan (USD 145 million), 
delivering a 2.39% year-on-year growth.

Despite the COVID-19 pandemic, the safety and health of our workforce, 
partners, and communities, as well as continuing to operate with growth remain 
the company's top priorities. Zoomlion implemented several precautionary 
measures to protect the health of returning employees. The high return-to-work 
rate also ensured the company is meeting the strong and increasing market 
demand from home and abroad. New business forms such as "Cloud Marketing" have 
strengthened the business operation and led to better profit results. The 
revenue growth rate is significantly higher than the average performance in the 
industry.

Q1 Business Updates

Benefiting from improvements in product competitiveness, the company's stronger 
business sectors continue to grow steadily, while emerging business sectors 
have started to boom. The market share reached the highest level in company 
history.

During the first quarter, the sales volume of Zoomlion's concrete machinery 
products witnessed strong growth, retaining the leading position in the market. 
The sales volume of pump truck products increased by 25% year-on-year and 
reached the highest sales peak in recent years. The market share of mobile 
cranes has also grown significantly, with sales both at home and abroad, 
achieving a record high. Zoomlion continues to maintain the leading position in 
the construction hoisting category. The booming of the agricultural machinery 
industry has lead to increased sales of the company's agricultural machinery 
business sector, which significantly improved the company's profitability. New 
products such as rice seedling throwers have enjoyed a favorable sales figure 
in the market. Zoomlion actively explored the market in the earth moving 
machinery sector and achieved a significant year-on-year growth in sales, while 
the successful launch of the arm aerial work platform bring forth new growth 
opportunities to the company.

COVID-19 Pandemic

In response to COVID-19, Zoomlion actively took precautionary measures to 
ensure workplace safety prior to the resumption of work and production. Since 
returning to work from February 5, the company's production capacity has 
quickly recovered. 

As of the report is being released, the company's production capacity has 
reached the same level as the time before the outbreak of COVID-19, with the 
total return-to-work rate reaching 100%. Sales in the second quarter are 
expected to achieve better growth.

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 55 product lines 
covering ten significant categories.

SOURCE: Zoomlion