Zoomlion Heavy Industry Science and Technology Co., Ltd.
000157.SZ · SHZ
Company research
Zoomlion Heavy Industry Science and Technology Co., Ltd. (000157.SZ) is a leading Chinese manufacturer of construction and agricultural machinery, founded in 1992 by Zhan Chunxin and headquartered at Zoomlion Science Park in Changsha, Hunan, China. The company operates through three core segments: Construction Machinery — encompassing concrete machinery, crane machinery, earthwork equipment, and road machinery; Agricultural Machinery — offering tractors, harvesters, dryers, and rice transplanters; and Financial Services — providing finance lease solutions to customers purchasing machinery products. Ranked among China's largest and the world's fifth largest construction machinery enterprises, Zoomlion holds the distinction of being the first Chinese construction machinery company dual-listed on both the Shenzhen Stock Exchange and the Hong Kong Stock Exchange. With a global footprint spanning over 170 countries and regions and manufacturing facilities across Europe, Asia, and the Americas, the company is actively pursuing a strategic transformation toward a high-end, digitalized, and globally localized equipment manufacturing model.
Research reports
Maintains a buy rating on Zoomlion after Q1 2026 revenue grew 6.9% with strong overseas and new business contributions, while reported profit was temporarily depressed by FX and one-off items but underlying operating profit is estimated to have risen about 55% year-on-year. The report forecasts robust 2026–2028 revenue and earnings growth with forward P/E compressing from roughly 11x to 8x, supported by accelerating globalization, high-growth emerging segments, and improved cash generation, offset by risks from domestic demand, competition, overseas execution and exchange-rate volatility.
国金证券研究所 · March 30, 2026中联重科（000157.SZ）：海外增速表现优异，利润加速释放Maintains an overweight stance after 2025 results showed revenue up 14.6% and net profit up 38.0%, with Q4 revenue up 34.8% and net profit up 146.0% year-on-year, driven by faster-than-expected overseas growth and recovering domestic margins. The report highlights high-margin overseas sales, diversification across regions and product lines, rising net margin and sharply improved operating cash flow, while warning of downside risks from weaker domestic demand, intensifying overseas competition, raw-material inflation and FX volatility.
CMB International Global Markets · December 5, 2025Zoomlion (1157 HK/000157 CH) – Expect accelerated sales growth in NovReiterates a buy rating with A-share target price RMB12.0 and H-share target HK$9.2, arguing that domestic crane and concrete demand is meaningfully recovering and that mining equipment plus global expansion across emerging markets should drive accelerating sales growth and structural earnings upside into 2026. The report sees mining equipment increasing from about 6–7% to roughly 15% of revenue over the next few years and justifies an above-average valuation multiple based on Zoomlion’s full-range product offering and overseas growth, while citing risks around non-earthmoving demand sustainability, overseas demand slowdown and mining capex cuts.