· Zoomlion’s net profit plummeted by more than 60% and its profit was around 1 billion yuan.

The “cold winter” of the construction machinery product market continues. Yesterday, Zoomlion (000157) released its forecast for the first half of 2014. It expects net profit for the first half of the year to fall 60% to 70% and profit from 872 million yuan to 1.162 billion yuan.
Regarding the main reason for the change in performance, Shen Ke, Secretary of the Board of Directors of Zoomlion, believes that due to the impact of the country's fixed asset investment, especially the slowdown in the growth rate of real estate investment, the market demand for construction machinery products is sluggish and the construction is insufficient. The operating income of heavy machinery products decreased significantly year-on-year. Data show that from January to May 2014, the growth rate of national fixed assets decreased by 3.2% year-on-year, and the growth rate of real estate investment decreased by 5.9% year-on-year. In the same period, the new real estate construction area of ​​the country decreased by 18.6% year-on-year, and the sales area decreased by 7.8%.
In addition, Zoomlion also explained that the company controlled more risks during the reporting period, and adjusted its business strategy and even gave up more orders. Half a year's income and profits also have a certain impact.
On the 15th, Zoomlion's share price closed at 4.49 yuan, up 0.67%.

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