Zoomlion’s Strong 3Q 2018 in Line With Expectations; Shares Still Undervalued on Margin Expansion
Zoomlion’s first-half 2018 net profit increased by around 70% to CNY 874 million compared with the year-ago period on a comparable basis (the firm sold its environmental equipment business in 2017). Gross margin improved to 25.5% from 18.0% during the year-ago period. This is driven by an improvement in its product mix as the firm sells more high-margin products and better inventory management. Management also stated that it has managed to raise prices for machinery on the back of rising raw mat...Zoomlion Heavy Industry Science And Technology Co., Ltd. is principally engaged in the research, development, manufacture and sales of engineering equipment, environmental sanitation equipment and agricultural equipment. The Company operates through four segments. The Engineering Equipment segment includes concrete equipment, lifting equipment, earthmoving equipment, foundation construction equipment, road construction equipment and forklifts, which mainly serve the construction of infrastructure and real estate. The Environmental Industry segment is engaged in the production of sanitation equipment, as well as environmental management investment and operating business. The Agricultural Equipment segment consists of farming machinery, harvesting machinery, drying machinery and agricultural machinery, among others. The Financial segment provides financial leasing and other financial services.
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