International Day of Friendship: Zoomlion Strives for Win-win Cooperation with Global Partners

Zoomlion's first tower crane co-developed by China and Germany now launches in Europe

CHANGSHA,China,July 27,2022 --Zoomlion Heavy Industry Science & Technology Co.,Ltd. ("Zoomlion;" 1157.HK) has officially launched W220-10S,its first flat-top tower crane jointly developed by China and Germany,in the European market this June. The release is yet another milestone of Zoomlion achieving win-win results with the acquired company.

W220-10S,the first flat-top tower crane jointly developed by the Chinese and German teams

"On the occasion of the International Day of Friendship,the Company hopes to highlight its win-win approach to cooperation,that it's about inclusiveness,friendship,rules,co-innovation and sharing,and want to work with our global partners to bring better products and services to all customers.

Together with WILBERT,a leading luffing jib tower crane manufacturer and Europe's third-ranking tower crane rental company,Zoomlion developed the new W220-10S to feature adjustments especially localized for the European market,delivering all-around upgrades of safety,intelligence,convenience,economic efficiency and customization.

Dr. Michael Meding,general manager of Zoomlion Wilbert,noted that the new tower crane is the first localized product jointly developed by the Chinese and German teams,and its design and production have fully taken advantage of both companies.

Zoomlion's extensive cooperation with global partners has brought mutually beneficial results. In 2008,Zoomlion acquired CIFA of Italy,the third largest concrete machinery manufacturer at the time,and has since achieved continuous breakthroughs in the European market. CIFA has also established a factory in China that further strengthens its product development and brand competitiveness in the following year.

In 2015,Zoomlion started to work with the MAZ truck group in Belarus. Combining Zoomlion's construction machinery technologies and production capabilities with MAZ's heavy truck chassis,the two companies developed and manufactured three truck cranes and sanitation sweepers in only seven months that met the local market demand.

In 2021,despite the influence of COVID-19,the revenue of companies acquired by Zoomlion overseas has grown by more than 30 percent year-on-year,creating more jobs and increasing tax revenues that were highly recognized by local government and business communities.

"As a company,we should localize our operations,respect the local rules,blend in the local culture and aim for win-win cooperation with our global partners,Zoomlion hope to cooperate with more companies to bring new opportunities and seek mutually beneficial development," said Zhan Chunxin,chairman and CEO of Zoomlion.