Zoomlion Heavy Industry Science and Technology Co., Ltd. Provides Unaudited Earnings Guidance for the Third Quarter and Nine Months Ended September 30, 2016
October 13, 2016 at 05:43 am EDT
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Zoomlion Heavy Industry Science and Technology Co., Ltd. provided unaudited earnings guidance for the third quarter and nine months ended September 30, 2016. For the third quarter, the company expects net profit attributable to the equity shareholders of the company to be in the range of RMB 25,000,000 to RMB 50,000,000 and basic earnings per share to be in the range of RMB 0.0033 to RMB 0.0065 against net loss attributable to the equity shareholders of RMB 208,365,494 and basic loss per share of RMB 0.0271 for the same period a year ago.
For the nine months, the company expects net loss attributable to the equity shareholders of the company to be in the range of RMB 787,000,000 to RMB 812,000,000 and basic loss per share to be in the range of RMB 0.1026 to RMB 0.1059 against net loss attributable to the equity shareholders of RMB 518,198,060 and basic loss per share of RMB 0.0676 for the same period a year ago. During the reporting period, the net profit of the first three quarters of the company was negative due to the factors including the effects of the decreasing revenue from the construction machinery sector, the compensation for loss of office and the fluctuation in exchange rate. As the reform of regional marketing model is becoming effective, together with staff optimization and less influence from exchange rate fluctuation, the net profit of the company during the reporting period improved quarter on quarter and turned positive since the third quarter of this financial year.
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.
Zoomlion Heavy Industry Science and Technology Co., Ltd. Provides Unaudited Earnings Guidance for the Third Quarter and Nine Months Ended September 30, 2016