Zoomlion's 2023 performance soars due to global expansion

01 Feb 2024 CW Team

The continued growth of international business is a key reason behind Zoomlion's Q4 and full-year net profit growth exceeding expectations. Based on the company's third quarter report, international business income was 13.03 billion yuan from January to September last year, a year-on-year increase of 100.5 per cent, with international business income accounting for 36.7 per cent. In Q3, international revenue amounted to 4.66 billion yuan, boosting its proportion of total income to 40 per cent, a 5 per cent increase from H1 2023.

The company operates in over 138 countries, boasting 350+ outlets and 3,000 international employees, constituting over 90 per cent of its workforce. Future plans aim to have international business account for more than 50 per cent. Key exports, such as construction cranes and earthmoving machinery, are prominent in Belt and Road Initiative countries. Utilizing an end-to-end direct business system, the company foresees enhanced market coverage and product penetration. The upcoming Zoomlion Smart Industrial City is expected to boost manufacturing efficiency and product quality through advanced technologies and digital applications. The company's performance forecast emphasises operational improvements through comprehensive transformations, digital applications, and cost reduction measures.

In recent years, Zoomlion has accelerated its international business model transformation through the global village and localisation concepts, achieving notable progress in key products and markets. By 2023, it claimed the highest market share in the engineering crane sector in the Middle East and Russian-speaking areas. Zoomlion also set export records for the largest tonnage crane from China to South America and the Philippines.

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 reason behind Zoomlion's Q4 and full-year net profit growth exceeding expectations. Based on the company's third quarter report, international business income was 13.03 billion yuan from January to September last year, a year-on-year increase of 100.5 per cent, with international business income accounting for 36.7 per cent. In Q3, international revenue amounted to 4.66 billion yuan, boosting its proportion of total income to 40 per cent, a 5 per cent increase from H1 2023. The company operates in over 138 countries, boasting 350+ outlets and 3,000 international employees, constituting over 90 per cent of its workforce. Future plans aim to have international business account for more than 50 per cent. Key exports, such as construction cranes and earthmoving machinery, are prominent in Belt and Road Initiative countries. Utilizing an end-to-end direct business system, the company foresees enhanced market coverage and product penetration. The upcoming Zoomlion Smart Industrial City is expected to boost manufacturing efficiency and product quality through advanced technologies and digital applications. The company's performance forecast emphasises operational improvements through comprehensive transformations, digital applications, and cost reduction measures. In recent years, Zoomlion has accelerated its international business model transformation through the global village and localisation concepts, achieving notable progress in key products and markets. By 2023, it claimed the highest market share in the engineering crane sector in the Middle East and Russian-speaking areas. Zoomlion also set export records for the largest tonnage crane from China to South America and the Philippines.

Real Estate

03 Apr 2026

Loomcraft Enters South India with Kerala Store Launch

Loomcraft has launched its exclusive store in Kerala, marking its entry into South India and a key step in its nationwide expansion strategy. The move targets a region driven by tourism and premium real estate demand, where outdoor spaces play a central role in hospitality and residential experiences.Kerala’s growing base of luxury resorts, boutique hotels, villas and gated communities has created strong demand for specialised outdoor furniture. However, the region has remained underserved, with buyers relying on imports or generic products not suited to humid, coastal and monsoon-heavy cond..

Building Material

03 Apr 2026

Mild Steel Prices Seen Rising to Rs 61,000 Per Tonne

Mild steel prices in India, currently around Rs 58,000 per tonne, are expected to rise to nearly Rs 61,000 per tonne in April, indicating an increase of about Rs 3,000 per tonne. The anticipated rise reflects structural pressures driven by geopolitical tensions, energy constraints and limited raw material availability.Ongoing global conflict has disrupted energy markets, leading to LNG shortages that are affecting domestic steel production. Small and mid-sized manufacturers, particularly those dependent on gas-based processes, are witnessing production cuts due to constrained energy supply, re..

Infrastructure Urban

01 Mar 2026

Vedanta Expands Transgender Workforce to 75 Employees

Vedanta has strengthened its commitment to workplace inclusion by employing 75 transgender individuals across its businesses, including Vedanta Aluminium, Hindustan Zinc, Sesa Goa, FACOR and Cairn Oil & Gas. The initiative reflects sustained hiring efforts since 2022 to build equitable opportunities across operations, corporate and technical roles.Transgender employees are engaged in functions such as operations, finance, logistics, HR, CSR, healthcare and security, with provisions for internal mobility to support career progression. The company has implemented structured policies, includi..