Every year on April 26, the world celebrates World Intellectual Property Day, a day that highlights the role of intellectual property (“IP”) services in fostering innovation and creativity. This year, Zoomlion Heavy Industry Science & Technology Co., Ltd. (“Zoomlion”; 1157.HK), a leading high-end equipment manufacturing enterprise, is using the celebrations to reflect on how IP contributes to industrial prosperity, drives technological innovation, and helps change the world for the better.
Underpinned by the unique concept that “technology is the root and products are the foundation”, Zoomlion has consistently maintained a high investment in R&D and celebrates independent innovation as a leading factor in business development. Over the years, Zoomlion has integrated product digitalization, intelligence, and green innovations to create industry-leading technologies and high-end products.
This principle that “Vision Create Futures” has enabled Zoomlion to increase its brand value for 18 consecutive years whilst also growing revenue and net profits. In 2021, the brand was valued at RMB 86.58 billion, a year-on-year increase of RMB 9.8 billion. Moreover, Zoomlion ranked 120th on World Brand Lab’s Top 500 Asian Brands of 2021.
Zoomlion’s growth is backed by the brand’s innovative prowess and industry-leading patent strength. In 2021, Zoomlion’s patent applications increased 62% year-on-year. In total, 727 patents were authorized throughout the year, a year-on-year increase of 99.2%. As of December 31, 2021, Zoomlion has applied for a total of 12,278 patents, of which 9,407 have been authorized.
In addition to patents, Zoomlion actively contributes to the development and revision of industry standards. The company has formulated nine international standards, 414 national and industry-level standards, and 22 group standards. For example, ISO 19720-1, a global standard on machinery and equipment for concrete work let by Zoomlion, marked the first global construction machinery standard published by a Chinese enterprise. Zoomlion also employs 19 registered international standardization experts and has seven national innovation platforms to support R&D.
Under its development strategy, Zoomlion has formed a comprehensive ecosystem of IP creation, utilization, protection, and management, and generate innovations on green and intelligent product lines, digitalized manufacturing, and human-machine interaction technology. The company achieved operating revenue of RMB 67.131 billion, up 3.11% year over year in 2021.
In fostering innovation and development, Zoomlion will continue to promote technological and industrial progress and shape a better future for all.