Finance Association, October 30 (Reporter Huang Lu) The share of overseas revenue increased to more than 50%, and the Q3 net profit growth rate of Zhonglian Heavy Industries (000157.SZ) slowed down due to increased share payment expenses. The company plans to buy back some H shares at the right time, with the intention of increasing earnings per share.

Tonight, Zoomlion Heavy Industries announced its 2024 three-quarter report. The company achieved operating income of 34.39 billion yuan in the first three quarters, a year-on-year decrease of 3.2%; net profit to mother was 3.14 billion yuan, an increase of 9.95% over the previous year. Among them, Q3 achieved revenue of 9.85 billion yuan, a year-on-year decrease of 13.89%, and realized net profit of 0.851 billion yuan, an increase of 4.42% year-on-year.

Financial reports show that the company's gross profit margin and net profit margin for the first three quarters were 28.37% and 9.13% respectively, up year-on-year respectively.

0.62 pct, 1.09 pct In addition, the company's management expenses increased 35% year over year, mainly due to an increase in share payment expenses related to employee stock ownership plans.

According to the company's public financial report, the company's share payment fees for the first three quarters of 2024 and the Q3 quarter were 0.722 billion yuan and 0.241 billion yuan respectively, and 0.038 billion yuan and 0 billion yuan respectively for the same period last year. If the impact of share payment fees is excluded, net profit to mother for the first three quarters and Q3 increased 29.53% year-on-year, respectively.

Looking at the split market, Zhonglian Heavy Industries's overseas revenue has already surpassed domestic revenue. In the first three quarters, the company's domestic revenue was about 16.74 billion yuan, down 25.54% year on year; overseas revenue was 17.64 billion yuan, up 35.42% year on year. The share of overseas revenue increased to 51.3%, up 14.62 pcts from the first three quarters of 2023.

According to relevant company sources, the regional distribution of the company's overseas revenue is becoming more diversified. Regions such as the Middle East, Southeast Asia, and Central Asia continued to maintain higher growth rates than the industry average; South America, Africa, and India achieved high double-digit growth; and developed markets such as the European Union, North America, Australia and New Zealand grew faster overall.

Specifically, in the first three quarters, the company's overseas market share of concrete machinery increased significantly, with the penetration rate of electric models of mixers increasing to more than 50%; the overall market share of construction hoisting machinery ranked first; the market share of construction hoisting machinery ranked first in the world, and the overseas revenue ratio increased rapidly.

By the end of September, the company had more than 30 first-class airports and 370 second-tier outlets, covering about 150 countries. With the efficient advancement of overseas manufacturing bases, the company's overseas market can expand its sales spectrum. In the first three quarters, more than 300 new products were added that passed international certification, and more than 200 products were listed overseas.

It is worth mentioning that on October 18, Zoomlion Heavy Industries issued the “Notice Concerning General Authorization to Repurchase Some H Shares”. It plans to repurchase some H shares at the right time. All of the repurchased shares will be cancelled, thereby increasing the company's earnings per share.