Zoomlion expects the first quarter to turn losses as earnings recovery
China's large construction machinery company - Zoomlion (1157.HK) (000157.SZ) is expected to turn losses in the first quarter of this year, thanks to the recovery in the sales situation, its H shares early Friday morning against the market rose.
According to the evening announcement, according to the Chinese accounting standards, Zoomlion in January 2017 net profit is expected to 0.5-1 million yuan, the basic earnings per share 0.007-0.013 yuan; the same period last year was a net loss of 660 million yuan.
The company said that the first quarter of the infrastructure project operating rate and focus on product equipment utilization steadily improved, concrete machinery, lifting machinery and other products sales situation more obvious recovery, driven by the company's construction machinery sector revenue growth.
In addition, since the current round of construction machinery industry has begun to adjust, Zoomlion actively promote industrial transformation and upgrading and management changes, the company's industrial transformation and upgrading and management changes to achieve more obvious results.
Zoomlion H shares rose nearly 5% to HK $ 4.35 on Friday. Hong Kong time 9:49, its increase was reduced to 2.16%, to 4.25 Hong Kong dollars; the market Hang Seng Index. HSI fell 0.26%.
According to the evening announcement, according to the Chinese accounting standards, Zoomlion in January 2017 net profit is expected to 0.5-1 million yuan, the basic earnings per share 0.007-0.013 yuan; the same period last year was a net loss of 660 million yuan.
The company said that the first quarter of the infrastructure project operating rate and focus on product equipment utilization steadily improved, concrete machinery, lifting machinery and other products sales situation more obvious recovery, driven by the company's construction machinery sector revenue growth.
In addition, since the current round of construction machinery industry has begun to adjust, Zoomlion actively promote industrial transformation and upgrading and management changes, the company's industrial transformation and upgrading and management changes to achieve more obvious results.
Zoomlion H shares rose nearly 5% to HK $ 4.35 on Friday. Hong Kong time 9:49, its increase was reduced to 2.16%, to 4.25 Hong Kong dollars; the market Hang Seng Index. HSI fell 0.26%.