Zoomlion 2024: Forging New Growth Pathways Through Diversification, Globalization and Digital Transformation
CHANGSHA, China, March 25, 2025 /CNW/ -- On March 24, Zoomlion released its 2024 annual report. The company achieved a total annual revenue of 45.48 billion yuan, with a net profit of 4 billion yuan, reflecting a year-on-year increase of 6.31%. The company's share-based payment expenses for 2024 amounted to 0.87 billion yuan, up by 0.59 billion yuan compared to the previous year. Excluding the impact of share-based payment expenses, the net profit for the year increased by 18.39% year-on-year. The gross profit margin for the year stood at 28.17%, up by 1.04 percentage points year-on-year. The net profit margin reached 8.81%, representing a year-on-year increase of 0.8 percentage points. Meanwhile, the company plans to distribute a cash dividend of 3 yuan (tax included) per 10 shares.
During the reporting period, the company's overseas revenue reached 23.38 billion yuan, marking a year-on-year increase of 30.58%. The share of overseas revenue further rose to 51.41%, up by 13.37 percentage points year-on-year. Over the past three years, the company's export revenue has achieved a compound annual growth rate (CAGR) of 59.26%. The globalization transformation has created vast market opportunities for all business segments, while the "continuous growth" trend in overseas markets has significantly reduced the company's cyclical nature.
By the End of 2024, the company operated more than 400 overseas outlets, with its products reaching over 170 countries. The company employed 4,400 local staff overseas, accounting for 70% of its international workforce, and maintained over 210 service and spare parts warehouses.
In recent years, Zoomlion has undergone a comprehensive digital transformation, achieving end-to-end integration from R&D and supply chain to market and sales, resulting in standardized, transparent, and efficient operations. the four main machinery parks for earthmoving machinery, aerial work platforms, concrete machinery, and mobile cranes at Zoomlion Smart City have been already put in production, as a benchmark for "multi-variety, small-batch" discrete manufacturing in the field of intelligent manufacturing worldwide. While vigorously enhancing the company's competitive advantage, it will also provide excellent training scenarios and data for the development of the company's specific intelligent business in the future.
In 2024, the company accelerated its transformation and upgrade toward diversification, internationalization, and digitalization, actively cultivating new growth curves. These transformation initiatives have significantly enhanced the company's development stability, effectively mitigating cyclical impacts. They have also injected continuous growth momentum, guiding the company toward a sustainable development path.
SOURCE Zoomlion
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