Due to the boom in demand, Zoomlion’s net profit increased by 80% year-on-year.

China's construction machinery maker, which is issuing H shares in Hong Kong, announced on Thursday that it expects to achieve a net profit of RMB4.345 billion this year, an increase of 75.7%-83.9% year-on-year, and an EPS of 0.88-0.92.
The announcement pointed out that the increase in company performance was mainly due to an increase in market demand, a significant synergy effect of the main product, and a significant increase in sales revenue over the same period of last year.
According to an IFR report from Thomson Reuters, Zoomlion has passed a Hong Kong listing hearing and this week launched a referral inquiry, which will last for a week and a half to two weeks. The company plans to issue no more than 1 billion H shares and raises approximately US$1.5 billion in funds, which will be used for overseas expansion and to supplement working capital. CICC, Goldman Sachs, JP Morgan Chase and Morgan Stanley arranged the deal.