Zoomlion Heavy Industry Science and Technology Co., Ltd. (Zoomlion) announced that the third and final lock-up period of its Phase II Stock Ownership Plan expired on 17 October 2026, triggering the release of 127.19 million A-shares—equivalent to 30% of the plan’s total holdings.
The unlock was conditional on meeting stringent profitability hurdles set in September 2023, when shareholders endorsed the three-stage plan: • Stage 1 (40% of shares) required FY 2023 net profit growth of at least 40% over the RMB2.31 billion benchmark and placement in the 75th percentile among peers. • Stage 2 (30% of shares) demanded FY 2024 growth of at least 60% over the benchmark—or a two-year average growth of 50%—plus a top-quartile peer ranking. • Stage 3 (30% of shares) called for FY 2025 net profit growth of at least 110% over the benchmark—or a three-year average growth of 70%—and continued top-quartile positioning.
Financial results released in the company’s 2023-2025 annual reports confirm that all criteria were exceeded: • FY 2023 net profit: RMB3.51 billion • FY 2024 net profit: RMB3.52 billion • FY 2025 net profit: RMB4.86 billion
The three-year average net profit reached RMB3.96 billion, translating into a growth rate above the 70% threshold, while the FY 2025 figure alone represents a rise of more than 110% versus the RMB2.31 billion benchmark. Peer comparison showed the FY 2025 net profit at or above the 75th percentile, satisfying the relative-performance condition.
With the performance tests cleared, the plan’s Management Committee is authorised to dispose of the released shares on the market before the programme’s termination. Proceeds will be distributed to plan participants in accordance with the Phase II rules.
The Board of Directors is chaired by Dr. Zhan Chunxin and currently comprises two executive directors, two non-executive directors and four independent non-executive directors.
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