Zoomlion(01157)2024-08-29 11:36Financial Performance - For the six months ended June 30, 2024, the group's revenue was RMB 24.54 billion, an increase of RMB 460 million (1.91%) compared to the same period in 2023[3]. - The profit attributable to shareholders for the six months ended June 30, 2024, was RMB 2.28 billion, an increase of RMB 225 million (10.94%) compared to the same period in 2023[3]. - The basic earnings per share for the six months ended June 30, 2024, was RMB 0.28, an increase of RMB 0.03 compared to the same period in 2023[3]. - The gross profit for the six months ended June 30, 2024, was RMB 6.95 billion, compared to RMB 6.72 billion in 2023[6]. - The total comprehensive income for the six months ended June 30, 2024, was RMB 2.02 billion, compared to RMB 2.26 billion in 2023[7]. - The profit before tax for the six months ended June 30, 2024, was RMB 2,857 million, up 15% from RMB 2,485 million in 2023[25]. - The company reported a total segment profit of RMB 6,946 million for the first half of 2024, compared to RMB 6,716 million in the same period of 2023, reflecting a 3.4% increase[17]. - In the first half of 2024, the company achieved operating revenue of 24.535 billion yuan, a year-on-year increase of 1.91%, and net profit attributable to shareholders of 2.281 billion yuan, up 10.94% year-on-year[54]. Assets and Liabilities - As of June 30, 2024, the total assets of the group amounted to RMB 130.65 billion, a decrease of RMB 1.71 billion (-0.13%) compared to December 31, 2023[3]. - The total liabilities as of June 30, 2024, were RMB 71.86 billion, compared to RMB 71.69 billion as of December 31, 2023[9]. - The net asset value as of June 30, 2024, was RMB 58.79 billion, a slight decrease from RMB 59.13 billion as of December 31, 2023[9]. - The company reported a loss provision of RMB 817 million for overdue receivables as of June 30, 2024, slightly down from RMB 829 million as of December 31, 2023[43]. - Total receivables as of June 30, 2024, amounted to RMB 34.786 billion, a slight decrease from RMB 35.494 billion as of December 31, 2023, representing a decline of about 2%[36]. - The total investment in finance lease receivables as of June 30, 2024, was RMB 10.599 billion, down from RMB 12.364 billion as of December 31, 2023, reflecting a decrease of approximately 14.3%[39]. - The goodwill balance as of June 30, 2024, was RMB 2.605 billion, down from RMB 2.641 billion as of December 31, 2023, indicating a decrease of approximately 1.4%[31]. Research and Development - Research and development expenses for the six months ended June 30, 2024, were RMB 1.31 billion, a decrease from RMB 1.59 billion in 2023[6]. - Research and development expenses for the first half of 2024 were RMB 1,306 million, a decrease of 17.6% from RMB 1,585 million in 2023[17]. - A total of 1,684 research projects are underway, with 361 new products launched, including 114 products that meet domestic leading and international advanced standards[68]. - The company applied for nearly 900 global patents during the reporting period, a year-on-year increase of 26.1%, with 463 invention patents accounting for 56.3% of the total[73]. Cash Flow - As of June 30, 2024, the company had cash and cash equivalents of RMB 13.572 billion, primarily consisting of cash and bank deposits[79]. - The net cash generated from operating activities for the six months ended June 30, 2024, was RMB 676 million, influenced by a pre-tax profit of RMB 2.857 billion[80]. - The net cash used in investing activities during the same period was RMB 1.441 billion, including proceeds from the disposal of financial assets at fair value of RMB 1.061 billion[82]. - The net cash generated from financing activities for the six months ended June 30, 2024, was RMB 758 million, primarily from new bank borrowings of RMB 5.952 billion[83]. Market Performance - The concrete machinery, engineering hoisting machinery, and construction hoisting machinery maintained a solid domestic market position, while overseas business scale and market position continued to improve[56]. - The earthmoving machinery segment saw sales growth exceeding 16% year-on-year, focusing on major clients and mining sectors domestically, while expanding into emerging markets overseas[58]. - The aerial work machinery segment experienced over 17% year-on-year sales growth, with over 90% penetration of electric products and the introduction of innovative technologies[59]. - Agricultural machinery sales grew over 112% year-on-year, with the company launching new products such as corn and rice machines, and maintaining leading positions in drying machines and wheat machines[60]. - Other emerging businesses, including mining machinery and emergency equipment, achieved over 26% year-on-year sales growth, leveraging brand and platform advantages[61]. - Overseas revenue grew by over 39.2% year-on-year, with a more diversified market structure as sales in traditional regions decreased to around 36%[64]. Digital Transformation and Innovation - The company is enhancing its digital transformation, implementing end-to-end management for overseas operations, and optimizing resource sharing across global manufacturing bases[65]. - The company has established 12 smart factories and over 230 intelligent production lines, contributing to the development of a significant advanced manufacturing hub in the country[67]. - The company has completed over 140 key technologies for intelligent production lines, with 70 of them being industry-first innovations, showcasing its strong capabilities in smart manufacturing technology[67]. - The company has launched 22 new energy main engine products, including a 100-ton pure electric telescopic boom crane and a 55-ton electric excavator, enhancing its presence in the new energy machinery market[71]. - The company has developed a complete ecosystem for new energy engineering machinery, focusing on key components such as three electric systems, hydrogen energy, and refueling technologies[71]. - The company has implemented 71 digitalization projects, with 11 prototypes validated, enhancing product competitiveness through digital technology[69]. - The company has launched 88 green projects, with 28 prototypes validated, promoting energy-saving and emission-reduction technologies[70]. Corporate Governance and Reporting - The company's interim financial report for the six months ending June 30, 2024, has been reviewed by the audit committee[88]. - The interim results announcement will be published on the Hong Kong Stock Exchange and the company's website[89]. - The company will issue a mid-term report to H-share holders containing all information required by the Listing Rules[89].