Zoomlion Heavy Industry Science and Technology Co., Ltd. Provides Earnings Guidance for the Year Ended December 31, 2016
January 24, 2017 at 09:39 am
Share
Zoomlion Heavy Industry Science and Technology Co., Ltd. provided earnings guidance for the year ended December 31, 2016. For the year, the company expects net loss attributable to the equity shareholders of the company of RMB 700,000,000 to RMB 800,000,000. Basic loss per share to be between RMB 0.09 to RMB 0.10 per share. The net profit for the full year of the company was negative due to the factors including the continued shrink in the construction machinery industry in the first half of the year, the compensation for loss of office and the change in structure for sales of products.
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.