Zoomlion Ranks Among the Top 10 on 2020 Yellow Table

Recently, KHL Group in UK released its annual list of top 50 construction machinery manufacturers in the world, 2020 Yellow Table. The list shows that Zoomlion is ranked among the top 10 with total sales of over US$6 billion, which fully highlights the high-quality, high-efficiency and sustainable development achieved by Zoomlion in recent years.

According to the list, the top 50 corporations’ total sales were US$202.7 billion, a 10% increase over the previous year, marking the first time that total sales of corporations in Yellow Table has exceeded $200 billion. Among them, the total sales revenue of Chinese companies in the list was close to US$36 billion, accounting for 17.7% of the total. Having experienced the hardcore tests of international market, the competitiveness of Chinese brands is increasing constantly.

Zoomlion, as the leading company of equipment manufacturing industry in China, adheres to the new development concept, insists on high-quality development and stable operation, continuously propels product optimization by technological innovation, and energizes equipment manufacturing with new technologies such as artificial intelligence, big data and IoT, so as to continuously strengthen and deepen intelligent manufacturing, which has made remarkable achievements.

Moreover, Zoomlion’s Top 10 ranking in the Yellow Book demonstrates the company’s steady advancement and its leading product sales offer the main contributions to the ranking’s rise. According to the 2019 annual report of Zoomlion, the company continuously strengthened its market position of leading products with strategic focus; and its market share of cranes and concrete machinery continues to maintain the largest in China. Especially, the sales of construction cranes have registered the first in the world, and the leading position of Zoomlion has been further consolidated; while it has realized the largest market share in construction cranes business based on five years’ growth, and the domestic market share of truck cranes and crawler cranes has been increasing year by year, making continuous breakthroughs.

Besides, Zoomlion’s emerging businesses are developing vigorously, bringing a bright future for the sustained global influence of Zoomlion. After the early period of development, in 2019, Zoomlion Earthmoving Machinery began to show a strong competitiveness and seize the high position of the market. With the joint efforts of R&D centers in China and North America to create a new generation of E-10 series, Zoomlion actively exploits the market of earthmoving machinery and continuously expands and perfects its business layout. At present, Zoomlion Earthmoving Machinery has completed the layout of sales and service outlets in all provinces of China. In the first quarter of 2020, sales of Zoomlion earthmoving machinery marked a significant year-on-year growth, showing the advantages of later development and the growth space.

The market of aerial work platform is now regarded as the new blue ocean of construction machinery industry. Zoomlion entered this market from a high starting point. In China, the aerial work platform market started late and the industry is still in the lead-in period. In recent years, the sales of aerial work platform in China have been increasing by about 45% per year, which is undoubtedly the fastest-growing sub-sector in the construction machinery industry. China’s per capita possession and permeability of aerial work platforms still lag far behind that of developed countries, and there is still a large room for growth in the future. Zoomlion Aerial Operating Machinery Co., Ltd. owns the first intelligent production line in China, covering the whole production process of scissor aerial working platform, three categories of excellent products featuring intelligent interconnection, and has abundant R&D technical resources to rely on, with advantages in technology, product and manufacturing. It has stepped into the first echelon of domestic aerial working platform in the first year of entering the industry and has become a strong growth point for Zoomlion.

It is worth noting that Zoomlion is also at the forefront of the industry in intelligent manufacturing, artificial intelligence and other fields. At present, Zoomlion has put several intelligent factories into operation and is building an intelligent, ecological and international Zoomlion Intelligent Industrial Base with high quality. Through this project, Zoomlion will achieve the cluster development of some equipment manufacturing sectors. It will also upgrade its traditional manufacturing to intelligent manufacturing by leveraging big data, IoT, artificial intelligence and other technologies. With regard to artificial intelligence, Zoomlion joins hands with Wu Enda, the world's leading artificial intelligence scientist and his team Landing.AI. The team will jointly develop new products based on artificial intelligence to create a leading AI team and energize the company’s future growth.

Insiders pointed out that the outbreak of COVID-19 has dealt varied blows to different countries in the world in 2020. Considering the different performances and achievements of countries in the battle against COVID-19, the performance of construction machinery enterprises in various countries will show diversified trends this year. It is expected that their rankings in the Yellow Book will change in the next year, and the performance of Chinese brands which are the first to defeat COVID-19 may progress as a whole. According to Zoomlion’s 2020 Q1 quarter report, despite the influence of COVID-19, the company has achieved growth in both revenue and profit, and the growth rate of revenue is significantly higher than that of the whole industry. At the same time, the world-class lighthouse factory built by Zoomlion is progressing orderly as planned, and Phase II of tower crane intelligent factory has started on schedule. In addition, Zoomlion has commenced the construction of East China intelligent manufacturing base for construction crane. All these steady developments underwrite the good expectations for the company.

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