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HONG KONG, Mar 28, 2013 - (ACN Newswire) - Zoomlion Heavy Industry Science & Technology Development Co., Ltd ("Zoomlion" or "the Company") (Stock code: 1157.HK) today announced its annual results as of December 31, 2012. International and domestic annual reports of the Company had been respectively audited by KPMG and Baker Tilly International for which issued standard unqualified opinion.
Financial Summary
-- Operating income of the group in 2012 was RMB48071 million
-- Yearly profit attributable to shareholders of the company in 2012 was RMB7330 million
-- Earnings per share in 2012 was RMB0.95
-- Dividend issued in the end of 2012 proposed by Board of Directors was RMB2
In accordance with international principles of financial reports, Zoomlion realized operating income of RMB48071 million, up 3.77% from the previous year; realized net profit attributable to shareholders of the parent company was RMB7330 million, 9.12% down from the previous year, and basic EPS was RMB0.95; net cash flow from operating activities was RMB2611 million, 38.88% up from the previous year (in accordance with Chinese generally accepted accounting principles, net cash flow from operating activities was RMB2996 million, up 41.42% from the previous year). It's proposed by the Board of Directors to issue cash dividends of RMB2 (inclusive of tax) per 10 shares to shareholders on a basis of the total shares of 7,705,954,050 shares.
The Company took account of, that in 2012, languid international market recovery, evident growth slowdown in China's economy, production capacity surplus in domestic engineering plant industry, intensified competition and significantly declined sales growth. Confronted with severe circumstances, focusing in the two development topics of "management reform" and "internationalization", Zoomlion took steps to optimize process, strengthen internal control, strictly keep down risks, lower costs and increase efficiencies to maintain a smooth overall operation.
Market share of major products elevated
In 2012, market share of major products of the Company saw a constant increase: in respect of concrete machineries, market share of truck-mounted pumps of the Company increased in evidence to land a leading position in the market, and market share of the three major products of mixing trucks, truck-mounted line pumps and mixing plants occupied the first place in domestic market; with respect to hoisting machineries, market share of tower crane occupied solidly the first place in the industry and sales of crawler cranes and tyre cranes was the No.1 in domestic market; regarding earthmoving machineries, market share of bulldozer of the Company leaped to the second place in domestic market.
Continual and steady product gross profit
According to the annual report, the overall gross profit margin of Zoomlion basically remained stable as compared with that in last year and arrived at 32.3% in 2012, only 0.1% down from the previous year. It's worth mentioning that, sales of concrete machinery accounted for relatively large proportion of the Company's overall sales, and accumulated gross profit margin of concrete machinery amounted to 33.94% in last year, and still ranked first among business sectors of the company.
Outstanding risk control
In 2012, the company comprehensively deepened its construction of overall risk control management joint-action mechanism, consolidated receivables management, strictly prevented and controlled operational risks. As of the end of 2012, the Company owned cash and cash equivalent worth over RMB20 billion, up 25.25% from the previous year; net cash flow from operating activity was RMB2611 million, up 38.88% from the previous year. Meanwhile, despite increase in the beginning of 2012, receivables of the Company started to decrease as compared with that of in the end of the third quarter of 2012.
The Company believed that, despite current hard times in the industry, Zoomlion was bestowed with a precious strategic opportunity. Zoomlion has attained relatively favorable superiority in the market thanks to its forward looking strategic layout. Look into the future, Chairman Zhan Chun Xin expressed that: Zoomlion will still uphold the business principles of "adopting general policies and outlining surprising market tactics" to grasp current strategic opportunity. Relying upon comprehensive innovation, the company will seek improvement in stability and realize sound growth. Also, the company will deepen its reform and center on the market, with technology and talent as its root to perfect three-dimensional matrix management mode; the company will uphold practical, skillful and quick operation ways of working, with an aim to make out new enterprise development blue map.
Contact:
Wonderful Sky Financial Holdings Limited
Sun Liang/ Tiffany Liu / Renee Min
Tel: (852) 2851 1038
Fax: (852) 2598 1588
Email" sunliang@wsfg.hk / tiffanyliu@wsfg.hk / reneemin@wsfg.h
Topic: Press release summary
Source: Zoomlion Heavy Industry Science & Technology Development Co., Ltd
Sectors: Daily Finance, Engineering, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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