Summary by Moomoo AI
Zhonglian Heavy Industries Co., Ltd. (the “Company”) has issued its 2023 annual results forecast that net profit attributable to shareholders of listed companies will reach RMB3,380 million to 3,620 million for the full year 2023, an increase of 46.57% to 56.98% over the same period in 2022. NET PROFIT AFTER NON-RECURRING LOSSES IS EXPECTED TO GROW 75.59% TO 87.20% TO RMB2,270 MILLION TO RMB2,420 MILLION. Basic earnings per share are expected to be RMB 0.39 to $0.42, up from $0.27 in 2022. The company said the performance growth was mainly driven by the expansion of overseas markets and emerging industries, as well as the impact of the upgrade to digital, intelligent, and green transformation. The company's overseas business system is constantly improving, increasing the market position of emerging business segments such as excavators, aerial work machines, mining machinery, etc., and improving profitability through measures such as improving manufacturing efficiency and product quality, applying new technologies. The Company will disclose specific financial information in the 2023 Annual Report.