Zoomlion(HK:01157)2025-04-24 08:30Financial Performance - In 2024, the company's operating revenue was approximately RMB 45.48 billion, a decrease of 3.39% compared to RMB 47.07 billion in 2023[17]. - The net profit attributable to shareholders was approximately RMB 3.52 billion, reflecting a slight increase of 0.41% from RMB 3.51 billion in the previous year[17]. - The net profit after deducting non-recurring gains and losses was approximately RMB 2.55 billion, down by 5.70% from RMB 2.71 billion in 2023[17]. - The net cash flow from operating activities decreased by 21.03% to approximately RMB 2.14 billion, compared to RMB 2.71 billion in 2023[17]. - The total assets at the end of 2024 were approximately RMB 123.75 billion, a decrease of 5.44% from RMB 130.86 billion at the end of 2023[17]. - The net assets attributable to shareholders increased by 1.29% to approximately RMB 57.14 billion, compared to RMB 56.41 billion at the end of 2023[17]. - The company achieved a revenue of RMB 45.478 billion in 2024, a decrease of 3.39% compared to 2023's RMB 47.075 billion[24]. - The net profit attributable to the parent company was RMB 3.521 billion, down 0.82% from RMB 3.550 billion in the previous year[24]. - The company's leverage ratio improved to 51.66% in 2024 from 54.80% in 2023[18]. - Non-current assets decreased to RMB 49.234 billion in 2024 from RMB 52.819 billion in 2023[19]. - Current assets also declined to RMB 74.478 billion in 2024 from RMB 78.006 billion in 2023[19]. Strategic Focus and Development - The company is focusing on accelerating the transformation and upgrading of its strategic industries, particularly in new energy and new materials[12]. - The company aims to enhance its global development strategy, emphasizing "end-to-end, digitalization, and localization" in overseas markets[12]. - The company plans to continue its digital transformation to improve core competitiveness in R&D, manufacturing, management, sales, and service[14]. - The company is committed to building a world-class advanced manufacturing hub to create greater value for customers and returns for shareholders[14]. - The company maintained a strong market position in traditional product lines such as concrete machinery and construction cranes, with a focus on risk management and resource optimization[26]. - The company expanded its product range in earthmoving machinery, achieving significant growth in the domestic market, particularly in the 100-ton and above excavator segment[27]. - The company led the domestic market in aerial work machinery, with a 90% penetration rate of electric products and a comprehensive product lineup[28]. - The agricultural machinery segment saw significant growth, with new products like corn and rice machines entering the market after successful upgrades[30]. - The company ranks first in the industry for patent applications related to big data and cloud computing, establishing a leading position in the industrial internet and embodied intelligence sectors[32]. International Expansion and Manufacturing - In 2024, overseas revenue grew by over 30% year-on-year, achieving a historic milestone where overseas income accounted for more than half of total revenue[33]. - The company has established 11 overseas production bases across 8 countries, enhancing its global manufacturing network and supporting continuous innovation[36]. - The company has launched 4 major intelligent factories and over 360 intelligent production lines, contributing to the development of a significant advanced manufacturing base[38]. - The company has completed over 200 key technologies for intelligent production lines, showcasing its strong capabilities in intelligent manufacturing technology[38]. - The company aims to achieve end-to-end digital transformation in manufacturing and supply chains, integrating AI, cloud computing, and digital twin technologies[40]. - The company has built a comprehensive overseas business system focused on end-to-end, digital, and localized operations, enhancing its competitive edge[33]. - The company has over 4,400 local employees and more than 210 service parts warehouses globally, covering over 170 countries and regions[36]. Innovation and Product Development - The company successfully developed 548 new products and overcame 355 key technologies during the reporting period, including 9 global bests and 15 industry-first products[41]. - The company launched the world's largest rated lifting torque crane with a capacity of 23,800 ton-meters, and a maximum lifting weight of 730 tons, which is currently in use for the construction of the Guangzhou Wanlong Bridge[42]. - The company introduced 40 new energy products, including the world's largest 150-ton distributed electric drive crawler crane and the industry's first modular electric direct drive concrete mixer truck[46]. - The company achieved a comprehensive energy saving of 15% with the development of a 300-ton hybrid electric drive dump truck, enhancing the green development of mining transportation equipment[42]. - The company applied for 2,054 patents during the reporting period, ranking first in the industry for patent strength among Chinese enterprises[48]. - The company has developed a hybrid power distributed electric drive tractor with a low fuel consumption of 1.55L per mu, providing a comfortable driving experience with a noise level of 79dB[44]. - The company has completed over 20 key component and equipment R&D projects in the new energy sector, achieving industry-leading technology levels[46]. - The company has established a total of 210 new energy products for sale by the end of 2024, covering various leading product categories[46]. - The company led the release of 2 international standards and 4 national standards in 2024, becoming a dominant force in industry standard-setting[48]. Employee Engagement and Welfare - The company employs approximately 31,783 employees as of December 31, 2024[71]. - The company has a distributable reserve of RMB 26.442 billion as of December 31, 2024[74]. - The company aims to enhance employee cohesion and core combat capabilities through talent introduction, training, and incentives[194]. - The company maintains a 100% labor contract signing rate and provides comprehensive social insurance coverage for all employees[195]. - In 2024, the company provided assistance to 88 employees, distributing over 3.317 million yuan in aid, including support for 18 children of deceased employees[197]. - The company hired approximately 7,297 new employees during the reporting period, increasing total employment to over 31,783[200]. - Employees under 35 years old account for 55.63% of the workforce, indicating a sustainable employment structure[200]. - The company has implemented a satisfaction evaluation platform for employee dining, maintaining a satisfaction rate above 90%[197]. - The company actively engages in employee welfare programs, including marriage and childbirth benefits, and various forms of assistance[196]. Environmental and Social Responsibility - The ESG special team is responsible for identifying significant ESG issues impacting operations and stakeholders, reporting to the board regularly[158]. - The company has identified 23 key ESG issues for this year's importance analysis, based on guidelines from the Hong Kong Stock Exchange and the SASB[164]. - The board participates in the evaluation and prioritization of important ESG matters, ensuring comprehensive reflection of the company's sustainable development progress[163]. - In 2024, the company achieved a total greenhouse gas emission of approximately 187,949.80 tons, a decrease from 206,881.91 tons in 2023, resulting in a 6% reduction in emissions per million revenue[178]. - The company successfully launched 40 new products, including the world's largest distributed electric drive crawler crane, and now has 210 new energy products on sale[172]. - The company reduced diesel consumption in 2024 compared to the previous year, leading to a significant decrease in air pollutant emissions[178]. - The total amount of hazardous waste generated in 2024 was 3,876.30 tons, down from 4,172.38 tons in 2023, with a hazardous waste density of 0.85 tons per 10 million revenue[178]. - The company established two new A-level environmental performance parks and three B-level parks in 2024, becoming the first in the Shaanxi and Hunan engineering machinery industry to achieve A-level status[170]. - The company reported a sulfur dioxide emission of 0.14 tons in 2024, down from 0.17 tons in 2023, and nitrous oxide emissions of 19.31 tons, reduced from 24.19 tons[176]. - The company implemented advanced environmental management systems and technologies, including real-time air quality monitoring and dust reduction measures[171]. - The greenhouse gas emission density was recorded at 4.13 tons per million revenue in 2024, a decrease from 4.39 tons per million revenue in 2023[178]. - The company is committed to using water-based paints and energy-efficient, low-pollution dry spraying processes in its manufacturing operations[170]. - The company has strengthened its internal controls and cost reduction measures while accelerating its green transformation[178]. - The company aims to achieve carbon peak by 2030 and carbon neutrality by 2060, aligning with national strategic goals[190]. - The company has not identified any violations of significant environmental laws and regulations during the year[191].