Zoomlion Heavy Industry Sci & Tch : Total Assets of Enterprises Under Provincial Supervision in Hunan Exceed RMB 1 Trillion — Zoomlion Has Highest Profits
February 12, 2015 at 09:44 pm EST
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Total Assets of Enterprises Under Provincial Supervision in Hunan Exceed RMB 1 Trillion - Zoomlion Has Highest Profits
Author: Zoomlion Date: 2015-01-28
On January 20, the Hunan Provincial State-Owned Asset Supervision and Administration Commission published data which showed that, as of the end of December 2014, the total assets of enterprises under provincial supervision exceeded RMB 1 trillion for the first time, reaching RMB 1.090815 trillion, an increase of 16.9% over the previous year, while net assets stood at RMB 443.986 billion, a year-on-year increase of 16.4%. Valin Group, Zoomlion and Hunan Construction Engineering Group were all listed among the top 500 Chinese companies, while Zoomlion, Valin Group and Hunan Investment Holding Group are the top three companies in the province in terms of profits. In total, 11 city- and prefecture-level companies achieved overall profitability.
In 2014, enterprises under provincial supervision experienced smooth operating conditions overall, showed steady progress and good development momentum, and managed to preserve and increase the value of state assets. Faced with a downturn in the market and fierce competition, enterprises strengthened their marketing management and product development and steadily increased production and total physical sales. Zoomlion products successfully entered the markets of Chile, Costa Rica, Ecuador and other South American countries, and its global product service support system gradually took shape. Hunan Construction Engineering Group recorded its highest turnover for the period. Valin Xiangtan Iron and Steel Co. Ltd. firmly occupied first place among domestic ship building companies, with a market share of more than 20%.
Enterprises under provincial supervision actively fulfilled their social responsibilities, paying a total of RMB 12.4 billion in annual taxes, while achieving 3.6 times more profits over the same period last year.
Zoomlion Heavy Industry Science & Technology Co., Ltd. specializes in the development, manufacturing and marketing of industrial construction equipment. Net sales break down by family of products and services as follows:
- construction equipment (94.2%): concrete machines, cranes truck, crawler trucks, tower cranes, road machinery and road maintenance machinery (motor graders, road rollers, coating cold milling), rotary drills, earth moving equipment (crawler loaders, bulldozers and excavators), materials handling machines, etc.;
- agricultural machinery (4.1%): harvesters, tillers, cultivators, tractors, drying machines, etc.;
- financial services (1.7%).
China accounts for 94.1% of net sales.
Zoomlion Heavy Industry Sci & Tch : Total Assets of Enterprises Under Provincial Supervision in Hunan Exceed RMB 1 Trillion — Zoomlion Has Highest Profits