On the evening of April 28, Zoomlion released its 2026 first-quarter report. The report shows that the company achieved operating revenue of 12.952 billion yuan in the first quarter of 2026, a year-on-year increase of 6.89%. The net operating cash flow for the first quarter was 935 million yuan, a year-on-year increase of 26.33%, with the ratio to net profit exceeding 100%. The cash collection ratio was 96.41%, a year-on-year increase of 4.84 pct. The company's cash flow performance continues to improve, and its earnings quality is steadily rising. The company's overall operating fundamentals are solid and stable, with core operating indicators continuously optimizing, demonstrating strong development momentum and steadily advancing towards higher-level, more sustainable, high-quality development.
Business operations are thriving, with strong growth in core profit
In the first quarter, Zoomlion achieved high-quality development in its business operations, with steady growth in operating revenue, a positive overall business development trend, continuous improvement in operational quality and efficiency, and constantly strengthening development resilience and internal growth drivers. The overall strategy execution is progressing solidly. Although affected by fluctuations in the appreciating RMB exchange rate, the foreign exchange losses are mainly translation gains and losses from balance-sheet exposure at the reporting date, which do not involve actual transactions, generate no cash flow, and do not affect the company's core business.
The net profit attributable to shareholders of the parent in the first quarter was 884 million yuan, and the net profit attributable to shareholders of the parent excluding non-recurring items was 602 million yuan. After excluding the impact of foreign exchange losses and land disposal from the net profit attributable to shareholders of the parent, and excluding the impact of foreign exchange losses from the net profit attributable to shareholders of the parent excluding non-recurring items, the company's adjusted core net profit attributable to shareholders of the parent and core net profit attributable to shareholders of the parent excluding non-recurring items increased by over 50% and 30% year-on-year, respectively.
Overseas localization layout continues to improve, enhancing global comprehensive competitiveness
In the first quarter of 2026, the company's overseas revenue reached 7.390 billion yuan, a year-on-year increase of 12.52%. The proportion of overseas revenue was 57.06%, an increase of 2.85 pct compared to the first quarter of 2025. Meanwhile, the company's overseas markets are well-balanced and reasonably distributed. Key markets are broadly and evenly distributed, while potential markets are being steadily expanded in an orderly manner. The overall overseas market structure is robust and resilient.
The company firmly implements its unique global development strategy, continuously deepening and perfecting its "end-to-end, digitalization, localization" overseas business system, and constantly enhancing its global comprehensive competitiveness. The company continues to strengthen its overseas localization layout, building long-term competitive advantages in overseas markets. As of the end of the first quarter, the company had approximately 9,000 employees overseas, including about 6,000 local employees, covering over 170 countries, with more than 10 overseas factories, over 30 primary business aviation hubs, over 430 outlets, and more than 220 service spare parts warehouses.
In the first quarter, the Hungary plant officially began production and operation. The company's global localized supply chain ecosystem, built around multiple overseas production bases in countries such as Italy, Germany, Mexico, Brazil, Türkiye, the United States, and Hungary, continues to improve. This enhances supply chain resilience and the ability to withstand risks from trade barriers, greatly strengthening the sustainability of overseas business development.
Advantageous segments solidify the foundation, while emerging segments provide new momentum
In the first quarter, Zoomlion's traditional advantageous segments, such as lifting machinery and concrete machinery, maintained strong momentum, laying a solid foundation for the company's development. Emerging segments like earthmoving machinery, mining machinery, aerial work machinery, and agricultural machinery have continuously improved their industry positions. They have achieved multiple key breakthroughs in technology research and development, constantly expanded their product portfolio, and continuously improved their market layout, injecting new momentum into the company's high-quality growth.
Among them, Zoomlion's large-tonnage truck crane and crawler crane benefited from wind power construction and the advancement of national key projects, with strong domestic sales driving growth; overseas, more than thirty units of all-terrain cranes and crawler cranes of 500 tons and above were sold, setting new records for the largest-tonnage all-terrain cranes exported from China to Malaysia and South Africa.
The leading position of its construction crane in the domestic market is solid, and its global scale ranks among the very top; the flagship product strategy is being deeply implemented, with the world's largest wind power tower crane rolling off the production line, and continuous breakthroughs in the North American, European, and Australian markets.
Concrete machinery is driven by both domestic and international markets. Domestically, it benefits mainly from the pull of new energy mixer trucks, with a rapid increase in electrification penetration rate. In overseas markets, substantial progress has been made in securing major customers, achieving more than doubling growth in key overseas markets.
Earthmoving machinery shows a pattern of "rapid overseas growth, steady domestic performance" and "stable medium and large excavators, high growth in mini excavators." The shortcomings in small excavator products have been quickly addressed, while medium and large excavators continue their strong growth momentum, with brand influence rising rapidly.
Mining machinery has made breakthrough progress with major overseas customers, reaching significant cooperation intentions with local mining giants in several major mining countries. Its mainstream-tonnage excavator-truck fleet ranked first by market share in a major domestic energy province/city, and large orders for new energy mining truck have been signed with several central and state-owned enterprises. Autonomous driving has been implemented in batches in mining areas, with industry-leading core performance.
Aerial work machinery's ultra-high boom-type products have achieved batch sales in multiple markets including Europe, North America, Southeast Asia, and Hong Kong. Several new models in product lines such as scissor lifts, mast-type platforms, and telehandlers have achieved batch market entry in European and American markets. With the Hungary plant starting production, Zoomlion's global supply chain system has been further improved.
The agricultural machinery segment is accelerating the premium transformation of its various businesses, achieving phased results. Its overall strength ranks among the top five domestic brands, and its overseas competitiveness leads among domestic brands, with rapid growth in markets such as Europe and the United States.
Industry experts state that the current construction machinery industry has entered an upcycle driven by the resonance of domestic and external demand, with dividends being released jointly by increased domestic infrastructure spending, equipment renewal, and the recovery in overseas markets. Leveraging its advantages in global layout, diversified business, and technologies of digitalization, intelligentization, and greening, Zoomlion is poised to fully benefit from industry growth, consolidate its global leadership position, and achieve a new leap in high-quality development.
