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Zoomlion: balanced product structure will grow steadily in 13 years

Zoomlion: the battle of balanced product competition in the future has started in the laboratory

China experiment can complete automatic control of construction machinery information

Guide: on March 28, Zoomlion published its 2012 annual report. According to the annual report, as of december31,2012, Zoomlion achieved an operating income of RMB 4871 billion, an increase of 3.77% year-on-year; The net profit attributable to the shareholders of the parent company was 7.33 billion yuan, a year-on-year decrease of 9.12%, and the basic earnings per share was 0

on March 28, Zoomlion published its 2012 annual report. According to the annual report, as of december31,2012, Zoomlion achieved an operating income of RMB 4871 billion, an increase of 3.77% year-on-year; The net profit attributable to the shareholders of the parent company was RMB 7.33 billion, a year-on-year decrease of 9.12%, and the basic earnings per share was RMB 0.95; The net cash flow from operating activities was RMB 2.96 billion, an increase of 41.42% year-on-year

Wuhuimin, an analyst of China International Finance Co., Ltd. (CICC for short), released the Research Report of Zoomlion on March 29. The report pointed out that the industry as a whole was depressed in 2012, but benefited from the balanced product structure advantage, Zoomlion's annual performance basically met expectations, and the performance in 2013 is expected to grow steadily

product advantages show that the 12-year performance basically meets the expectations.

in 2012, the domestic construction machinery enterprises experienced a very difficult year due to the slowdown of real estate and infrastructure investment. The enterprise performance fell sharply, and some enterprises even suffered losses. The construction machinery industry as a whole fell into a downturn in this year. However, Zoomlion, the leading enterprise in construction machinery, still maintained steady performance

in the Research Report of CICC, it is pointed out that although the performance in the fourth quarter declined to a certain extent, the annual revenue of Zoomlion increased by 3.8% year-on-year. Meanwhile, Zoomlion's annual net profit decreased by 9.12% year-on-year. The decrease of Zoomlion's net profit is mainly due to three aspects: 1. Under the principle of prudence, the company increased the provision, and the provision for asset impairment increased by 480million yuan. 2. The performance and basic parameters of the pressure testing machine were different, and the R & D cost increased by 180million yuan. 3. The company issued 1billion US dollars of bonds, and the financial expenses increased by 191%. The above three expenses increased by more than 900million yuan, accounting for 12% of the net profit, while Zoomlion's recent profit decreased by only 9.12%

"Zoomlion's performance in 2012 was still robust, basically in line with market expectations. The robust performance was mainly due to the balanced product structure advantages gradually formed by years of focused development." Insiders pointed out that

at present, Zoomlion can produce 13 categories, 86 series and more than 800 varieties of products. It is the enterprise with the most complete categories in the construction machinery industry. Its product line is even longer than that of caterpillar, the world's top enterprise in the industry, and is honored as the "all-round champion" in the construction machinery industry

in 2012, the industry as a whole fell into a downturn, and the advantages of Zoomlion's balanced product structure were fully demonstrated. In this year, although the revenue of Zoomlion lifting and road machinery decreased, the revenue of lifting and road machinery decreased by 9.5% and 10.3% year-on-year; However, concrete machinery, environmental sanitation machinery, earth moving machinery, etc. achieved a substantial growth, and the income of concrete machinery, environmental sanitation machinery and earth moving machinery (low base) increased by 11.2%, 1.9% and 116.5% respectively, thus realizing the slight growth of Zoomlion's annual revenue

meanwhile, the market share of the company's main products continued to increase. In 2012, the market share of concrete machinery increased significantly, from 38.6% in 2011 to 43.5%. Among them, the market share of long boom pump truck is more than 50%. The market share of pump truck is significantly higher than that of 11 years, and it is in a leading position in the market; The market share of mixer truck, truck mounted pump, mixing plant, tower crane and crawler crane ranks first in China

in addition, the balanced product structure also kept the annual gross profit margin of Zoomlion stable. According to the data, Zoomlion's annual gross profit margin was 32.3%, basically flat year-on-year. In terms of the whole year, the balanced product structure has played an important role in ensuring the steady revenue and profit, and it is also the basis for the stability of Zoomlion's annual gross profit margin

Shengli securities, an old Hong Kong brokerage, pointed out in its research report that Zoomlion achieved a small increase in sales revenue in 2012, and its annual gross profit margin remained stable. At the same time, China currently has limited downside risks related to the fixed asset investment sector, and is optimistic about the stable development of Zoomlion under the advantages of abundant funds and balanced product structure

layout of four industries Zoomlion's performance in 2013 is worth looking forward to.

Zoomlion's 2012 performance exchange meeting at the end of the Research Report of CICC shows that Zoomlion's products will be divided into four industries in the future, 1) construction machinery, 2) heavy trucks, 3) environmental industry and 4) agricultural machinery. In the future, Zoomlion will focus on the existing leading products and make strategic layout for trucks and agricultural machinery

in terms of construction machinery, the international business division of initial concrete machinery and CIFA will quickly open the international market and become an international business division through effective means

in terms of heavy trucks, there are two main reasons for the company to enter this field. First, the company's future goal is medium and high-end heavy trucks, especially high-end products. In this field, domestic products are still blank. Second, the localized manufacturing of heavy truck parts will also have a synergistic effect with construction machinery, effectively promoting the company's main business

in terms of environmental sanitation machinery, Zoomlion has effectively extended the industrial chain, including cleaning, transportation and treatment of domestic waste equipment, regeneration of building materials, food waste treatment, sewage treatment, etc., and expanded environmental sanitation machinery to the environmental industry

Zoomlion has set its business target at 55billion yuan in 2013, hoping to achieve a year-on-year increase of 1% from the previous 30 years. At the same time, Zoomlion believes that 2013 should be a U-shaped trend, which began to improve in the first quarter of 2013 and recovered moderately. It is understood that since March, the operating rate of the company's concrete and hoisting machinery has significantly increased month on month, and the order volume has exceeded expectations. Zoomlion has shown a good recovery momentum at present. Zoomlion, which is at the bottom of the U-shape, is expected to achieve rapid recovery by virtue of its balanced product structure

in this regard, many institutions published research reports. Agricultural Bank of China International Securities believes that it will benefit from the diversified product portfolio, and it is expected that Zoomlion will effectively grasp the opportunity of market recovery between them; Cinda Securities believes that the demand for major products of construction machinery is divided, and the sales of excavators and cranes are expected to rise slightly in 2013, while the sales of concrete machinery will decline in 2013. The balanced product structure advantage of Zoomlion is expected to boost the steady growth of the company

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