Zoomlion(SZ:000157) Peng Pai Xin Wen·2025-03-26 14:54Core Viewpoint - Zoomlion's domestic revenue declined over 20% last year, while overseas sales accounted for more than half of total revenue, with expectations for stable growth this year [3][4]. Financial Performance - In 2024, Zoomlion reported revenue of 45.478 billion yuan, a year-on-year decrease of 3.39%, and a net profit of 3.52 billion yuan, a year-on-year increase of 0.41%. Basic earnings per share were 0.41 yuan, down 4.65% year-on-year [3]. - In Q4, revenue was 11.092 billion yuan, a year-on-year decrease of 4.05%, and net profit was 381 million yuan, down 41.42% [3]. - The company's overseas revenue grew by 30.58% to 23.38 billion yuan, increasing its share of total revenue by 13.37 percentage points to 51.41%. Domestic revenue fell over 24% due to the impact of the real estate sector [3][4]. Product Performance - Revenue from main products included: - Crane machinery: 14.786 billion yuan, down 23.35% - Concrete machinery: 8.013 billion yuan, down 6.8% - Earth-moving machinery: 6.671 billion yuan, up 0.34% - Aerial work machinery: 6.833 billion yuan, up 19.74% - Agricultural machinery: 4.65 billion yuan, up 122.29% [3]. Market Outlook - The domestic engineering machinery industry is in a bottoming adjustment phase due to the continued downturn in real estate, while overseas market demand is expanding rapidly [4]. - The agricultural machinery overseas market is characterized by a dual-track growth of emerging markets and upgrades in mature markets, with new markets and green technology being core growth points [4]. Operational Highlights - Zoomlion sold 114,001 units of manufacturing equipment last year, an increase of 18.72% [5]. - The company has established a presence in over 40 key countries globally, with coverage in nearly 200 countries and major cities [5]. - The engineering machinery export market is expected to maintain stable growth, supported by strong demand in Southeast Asia, the Middle East, and Africa [5]. Dividend Information - For 2024, Zoomlion plans to distribute a cash dividend of 3 yuan per 10 shares (tax included) [5]. - Since its listing, the company has distributed dividends 25 times, totaling approximately 26.3 billion yuan, with an average dividend payout ratio of about 43% [5]. Stock Information - As of March 26, Zoomlion's stock closed at 7.71 yuan per share, with a total market capitalization of 66.907 billion yuan [6].