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Zoomlion records 79.2% YoY increase in international revenue
Zoomlion Heavy Industry Science & Technology, a leading Chinese construction machinery and equipment manufacturer, released its 2023 annual report on the evening of March 28. The company achieved an annual revenue of RMB 47.075 billion, a year-on-year increase of 13.08%, with a net profit of 3.771 billion yuan, a year-on-year increase of 58.13%. The company's international revenue, which further increased to a record high of 38.04% of total revenue, was 17.905 billion yuan, a year-on-year increase of 79.2%.
Zoomlion's market position in traditional sectors has been steadily increasing..
Zoomlion's 2023 performance soars due to global expansion
Zoomlion Heavy Industry Science & Technology, a leading Chinese construction machinery and equipment manufacturer, recently released a performance forecast, predicting net profit attributable to shareholders of listed companies in 2023 to be 3.38 billion to 3.62 billion yuan, a year-on-year increase of 46.57 per cent to 56.98 per cent. The results are due to remarkable results in its international market penetration and rapid growth in the emerging business segments, coupled with reduced internal costs and enhanced efficiency.
The continued growth of international business is a key re..
Zoomlion delivers 200 earthmoving equipment to Australia, Europe
Zoomlion Heavy Industry Science & Technology sent off nearly 200 units of earthmoving machinery equipment to Australia and Europe on January 8 from its Earthmoving Machinery Park in the Zoomlion Smart City, signaling a successful start to 2024.
The batch delivery is another significant milestone for Zoomlion Earthmoving Machinery Company, as it continues to expand in the Australian and European markets. In recent years, the company has achieved continued success in major overseas markets by enhancing its product competitiveness, diversifying its product range, and steadily improving pr..
Norges Bank excludes Adani Ports from government pension fund
Norway's central bank's executive board has decided to exclude three companies from its government pension fund due to ethical concerns. Norges Bank, which manages the sovereign wealth fund, announced that India's Adani Ports and Special Economic Zone, U.S. defence contractor L3Harris Technologies, and China's Weichai Power will be excluded from its investment portfolio.
Adani Ports has been excluded because of an "unacceptable risk that the company contributes to serious violations of individuals' rights in situations of war or conflict." This company, part of billionaire Gautam Adani'..
India drafts new EV policy; same for all companies
Amitabh Kant, Sherpa, G20, emphasised the need for a uniform EV policy applicable to all companies in India, asserting that the country will not alter its policy to cater to specific corporate demands. This statement comes amid speculations that Tesla had made particular requests to the Indian government, leading to its decision not to enter the Indian market despite an anticipated visit by the CEO in April.
Kant stated, "India has drafted an EV policy, and all companies must adhere to it. You can't have policies for individual companies." He reiterated that the policy, which includes i..
