Zoomlion Empowers Product and Market Development with Glocalization Strategy

CHANGSHA,China,May 15,2023 --Zoomlion Heavy Industry Science & Technology Co.,Ltd. ("Zoomlion") shared the milestone achievements of their Glocalization strategy and future roadmap with its global partners and customers at its technological achievements exhibition themed "Technology Salute to the New Era" from May 11 to 14.

About 500 Zoomlion’s international customers attended its technological achievements exhibition held in Zoomlion Smart Industrial City in Changsha

Zoomlion has accelerated its business model transformation in overseas markets converging a globalization mindset with localization,as well as empowering business operations through digitalization and optimizing strategic layout,to expand its international presence.

In 2022,Zoomlion's sales revenue in countries of the "Belt and Road" Initiative increased by more than 100 percent year-on-year,and its overseas revenue in the first quarter of 2023 has grown 123 percent year-on-year.

End-to-end digital management: breaking through barriers with a shared platform with localized support

The rapid development of information technology has provided solid foundations for remote management,and with the establishment of end-to-end business platforms,leveraging technologies such as IoT can achieve information sharing and real-time monitoring to guarantee high-efficiency operation.

The platform,known as the "port," supports the production lines,business units,and operations in terms of logistics and services for international operations. The majority of the ground teams are local employees who can communicate better with the customers to provide efficient services and support. The platforms are also supported by technical engineers who take the customer's local demands into consideration to develop customized products that better meet the needs of the local markets.

Zoomlion has also achieved localized manufacturing and supply chain management. In addition to the solid performance of the companies it has acquired overseas (CIFA,m-tec,Wilbert),Zoomlion's overseas production facilities,including an industrial park in Belarus are also developing steadily. Zoomlion's factory in Brazil has almost doubled its output this year,and the factory in India is now in construction.

Zoomlion has established R&D centers,manufacturing bases,marketing and sales networks in 125 countries and regions worldwide,with its products available in over 130 countries and regions across seven continents. It operates more than 30 subsidiaries and 10 production bases worldwide.

About 500 of Zoomlion's international customers from more than 40 countries and regions visited Changsha to celebrate Zoomlion's success and bright future. On the opening day of the Exhibition,Zoomlion signed orders totaling eight billion yuan ($1.15 billion).

"It's been an exciting journey collaborating with Zoomlion since 2014,and we're thankful to Zoomlion for being supportive and flexible," said Taner Çoklu,CEO of 312 Insaat Construction Company from Turkey. "After the earthquake in Turkey this year,we are now using the new Zoomlion tower cranes in the housing construction project in the earthquake-hit region in the southeast of Turkey."

"Zoomlion fully understands the importance of sustainable and high-quality development,and our strategic roadmap of Glocalization is keeping up the market trends and communication while expanding the global business scope," said Wang Yongxiang,vice president of Zoomlion. "we're committed to promoting international and domestic development and creating greater values for our customers,subsidiaries,and partners."