Chinese construction machinery maker Zoomlion Heavy Industry Science & Technology Co., Ltd. (Zoomlion, 000157.SZ) drew wide attention at Bauma 2022, the world's leading construction machinery trade fair held in Germany's Munich from October 24 to 30, bringing 54 products of 7 categories.
At a featured product release event held on October 24, Zoomlion launched 10-odd intelligent aerial work platform (AWP) products include scissor lift, straight boom and crank-type models, which won a number of prospective orders from clients in the Netherlands, Romania, Poland, Iraq, Switzerland, and Germany.
Zoomlion's high-end products displayed at Bauma 2022, over 50 percent of which are manufactured locally in Europe, fully demonstrate its strength in internationalized, intelligent, green and advanced technologies and innovation achievements.
Innovation has always been in the genes of Zoomlion.
As early as 2013 when the construction machinery sector in China entered a trough period, Zoomlion adopted an income distribution mechanism to incentivize R&D personnel to develop innovative and practical technologies. Under the mechanism that has been implemented for nearly a decade, currently, about 30 percent of Zoomlion's employees are engaged in technology R&D, keeping enhancing the competitiveness and vitality of Zoomlion's products.
Dedicated to technological innovation, Zoomlion has also led and participated in the formulation and revision of more than 500 national, industrial and group standards as well as 19 international standards.
The company spent 3.865 billion yuan in R&D in 2021, up 15.56 percent year on year. It also launched 9 globally pioneering products including lightweight intelligent pump trucks, 5G remote control tower cranes, and unmanned combine harvesters.
Turning internationalized is also given priority by Zoomlion to become a world-class construction machinery manufacturer.
In 2021, Zoomlion began its overseas business strategic development. The company's overseas revenue in the year jumped 51.05 percent year on year, with sales of tower cranes and AWPs hitting a new high, said Wang Yongxiang, vice president in charge of the company's overseas business.
According to Wang, Zoomlion has established 30-odd subsidiaries and 10 production bases around the world, offering products to 130 countries and regions and employing 2,000 local staff.
Zoomlion will continue increasing investment in its overseas business, said Wang.
Committed to becoming an industrial leader, it will also focus on a project of developing a smart industry city that gather 8 world-leading lighthouse factories.
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