Zoomlion Heavy Industry Science and Technology Co., Ltd. Provides Earnings Guidance for the Quarter Ended March 31, 2017
April 06, 2017 at 10:51 am EDT
Share
Zoomlion Heavy Industry Science and Technology Co., Ltd. provided earnings guidance for the quarter ended March 31, 2017. For the quarter, the company reported that the results are estimated in accordance with China Accounting Standards for Business Enterprises. Net profit attributable to the equity shareholders of the company to range from RMB 50,000,000 to RMB 100,000,000 or RMB 0.007 to RMB 0.013 per share compared to loss of RMB 660,323,719 or RMB 0.09 per share a year ago. This announcement is only based on the preliminary review of the unaudited management accounts of the Company, which has not been confirmed nor audited by the Company's auditors. In the first quarter of 2017, the rate of infrastructure project operation and utilization rate of key product and equipment of the Company kept stably increasing, and the sales of concrete machinery and hoisting machinery of the Company have recovered obviously. As a result, the construction machinery sector of the Company recorded a substantial
increase in revenue.
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.