Zoomlion’s overseas revenue accounted for 55.58%, and the globalization strategy achieved remarkable results
In recent years, China's engineering machinery industry has been continuously improving its competitiveness in the international market. As one of the leading companies in the industry, Zoomlion's global layout results have attracted much attention. According to the latest financial report data, Zoomlion's overseas revenue has accounted for 55.58%, exceeding domestic revenue for the first time, marking a major breakthrough in its internationalization strategy.
1. Zoomlion’s overseas revenue data is impressive
Zoomlion's third-quarter 2023 financial report shows that the company's overseas market performed strongly, with revenue exceeding 50% for the first time, becoming the main driving force for the company's performance growth. The following are the changes in the proportion of Zoomlion's overseas revenue in the past three years:
| years | Overseas revenue (billion yuan) | Total revenue (billion yuan) | Overseas revenue share |
|---|---|---|---|
| 2021 | 178.5 | 671.3 | 26.6% |
| 2022 | 312.8 | 845.6 | 37.0% |
| 2023 (first three quarters) | 458.2 | 824.7 | 55.58% |
2. Global market layout has achieved remarkable results
Through years of deep cultivation, Zoomlion has established a complete sales network and service system around the world. The company's products cover more than 100 countries and regions around the world, among which the proportion of high-end markets in Europe and the United States continues to increase. The following is the revenue distribution of Zoomlion’s main overseas markets:
| area | Revenue in the first three quarters of 2023 (billion yuan) | Year-on-year growth | Constitute total overseas revenue |
|---|---|---|---|
| Asia (excluding China) | 152.4 | 68% | 33.3% |
| Europe | 135.7 | 85% | 29.6% |
| America | 98.5 | 72% | 21.5% |
| Africa | 54.3 | 65% | 11.9% |
| Oceania | 17.3 | 58% | 3.7% |
3. Product competitiveness continues to improve
Zoomlion's overseas business is growing rapidly due to the continuous improvement of its product technology level. The company's intelligent and new energy engineering machinery products have been widely recognized in the global market. The following is Zoomlion’s hot-selling overseas product series:
| Product Category | Representative model | Main sales areas | market share |
|---|---|---|---|
| Concrete machinery | ZAT18000H All-Ground Crane | Europe, Middle East | 15% |
| Lifting machinery | ZCC5200S crawler crane | Southeast Asia, Africa | 12% |
| Aerial work platform | ZA14JE electric curved arm type aerial work platform | European and American markets | 8% |
| Earthwork machinery | ZE550G-10 Hydraulic Excavator | South America, Russia | 6% |
4. Internationalization strategy promotes performance growth
Chairman of Zoomlion Heavy Science said: "55.58% of overseas revenue accounts for the company, marking the phased results of the company's internationalization strategy. In the future, it will continue to increase global R&D investment, deepen localized operations, and strive to exceed 60% of overseas revenue by 2025." The company plans to build new R&D centers in Germany, Italy and other places, and build more localized production bases in key markets.
5. Comments from industry experts
Experts from the China Engineering Machinery Industry Association pointed out: "Zoomlion accounts for more than 50% of its overseas revenue, which is an important milestone in the internationalization process of China's engineering machinery industry. This shows that China's manufacturing is changing from price advantages to technological brand advantages, and its position in the global industrial chain is constantly improving."
With the deepening of the "Belt and Road" initiative and the continuous heating of global infrastructure construction, Chinese engineering machinery companies such as Zoomlion Heavy Science and Technology are expected to gain greater room for development in overseas markets. The company said it will continue to optimize its global business layout, improve its service capabilities, and create greater value for global customers.
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