Zoomlion Heavy Industry Science and Technology (000157) Q2 2024 earnings summary

Executive summary

• Achieved revenue of ¥24.54 billion in H1 2024, up 1.91% year-over-year; net profit attributable to shareholders rose 12.15% to ¥2.29 billion year-over-year.

• Overseas revenue surged 43.90% year-over-year, now accounting for 49.10% of total revenue.

• Agricultural machinery sales grew 112.51% year-over-year, becoming a new growth driver.

• Traditional segments (concrete, crane, construction machinery) maintained leading market positions domestically and expanded overseas.

• Significant progress in digitalization, intelligent manufacturing, and green transformation.

Financial highlights

• Revenue: ¥24.54 billion, up 1.91% year-over-year.

• Net profit attributable to shareholders: ¥2.29 billion, up 12.15% year-over-year.

• Gross margin: 29.23% for engineering machinery, 13.61% for agricultural machinery.

• Basic EPS: ¥0.28, up 12% year-over-year.

• Cash flow from operations: ¥824.53 million, down 11.45% year-over-year.

• Total assets: ¥130.69 billion, net assets attributable to shareholders: ¥55.84 billion.

Outlook and guidance

• Engineering machinery industry expected to remain stable; overseas expansion and new business segments to drive growth.

• Company to continue digital, intelligent, and green transformation, and strengthen risk management.

• Focus on high-quality development, internationalization, and new energy products.