Zoomlion 2019 First-Half Results: Industry Boom and Efficiency Drive Lead to Triple Profits.

CHANGSHA, China: Zoomlion Heavy Industry Science and Technology Co, (000157.SZ) a leading Chinese maker of engineering and agricultural equipment, reported a near tripling in first-half earnings, thanks to an industry boom and leveled up overall competitiveness among corporate management and products launched during the period.

Zoomlion reported a net profit of 2.58 billion yuan during the first six months of 2019, up 198.11 percent from a year earlier. Revenue jumped 51.23 percent during the period.

The stellar performance cemented Zoomlion's leading position in China's engineering equipment industry, where demand for the company's core products, including hoisting machinery and concrete pump machinery remained high.

Internal restructuring and a revamp in the company's incentive and management systems injected vigor and enhanced competitiveness during the same period allowing the manufacturer to take better advantage of rising demand.

Higher-profits in recent years have led to a boost in R&D, allowing Zoomlion to 'roll out' more intelligent and reliable products in the first half that better meet clients' needs. Zoomlion's 4.0 series of products were particularly well received in this area.

Zoomlion also accelerated the development of new engines of growth. Its aerial work platform remained popular, while its industry-leading, Lithium-powered products won 230 million yuan of orders on the first day of launch. At the same time, Zoomlion's earthwork machinery roared into the market with tremendous breakthrough, with sales expected to multiply on the back of an eco-system built around clients' needs.

HIGHER PROFITABILITY

Zoomlion not only grew in size but has also become more profitable. Its...