XUZHOU, China, June 7, 2022 /PRNewswire/ — XCMG (SHE:000425) has been ranked as one of the top three original equipment manufacturers (OEMs) in the world for the second consecutive year, according to the Yellow Chart published by International Construction Magazine. , a subsidiary of the global construction media company KHL Group. In addition, the XCMG lifting platform also ranks fifth in the world in the Access M20 manufacturer list.
XCMG performed well in other global performance metrics, with mobile reeds and horizontal directional drilling ranked first, tower cranes ranked second, truck cranes and road machinery ranked third for the first time, open pit mining equipment ranked fifth, and complete pile driving kits. and concrete machinery won first place. XCMG excavator equipment ranks second in China and sixth in the world, and the production and sales volume has exceeded 200,000 units.
In addition, XCMG has taken the first place in the industry in aerial fire trucks and boom aerial platforms more stably, improving profitability. Revenue from small construction equipment and forklifts increased by 50% and 258%, respectively, compared to last year. The new XCMG maintenance base is also in operation, and the asphalt plant maintenance products and chassis are among the top two in the industry.
«Not only has XCMG’s operating profit hit a record high, the balance of revenue across various product categories has also become more even,» said Wang Ming, CEO and Chairman of XCMG.
Internationalization of markets
In 2021, despite the hurdles caused by the pandemic, XCMG entered overseas markets and achieved export revenue exceeding 13 billion yuan, up more than 90% year-on-year.
Other international achievements also include investing US$99 million to expand the market in North America, winning a contract to supply a large crane order worth 100 million yuan in the Asia-Pacific region, deploying nearly 200 million yuan of large-scale open pit mining equipment in Africa, supplying 500 excavators to Southeast Asia and supplying over 100 aerial platforms to North America.
In addition, XCMG’s Brazilian manufacturing base is making a breakthrough in the South American construction machinery market. In 2021, the production and sales volume increased by more than 200% compared to last year, and the operating scale increased by 198% compared to last year. “The development goal of our five-year plan is to ensure that the income from internationalization is at least 40%,” Wang added.
Driving change in the industry
The vision of XCMG, a world leader in construction equipment, is based on long-term investment and high-level innovation in the research and development of technologies surrounding its equipment.
In recent years, XCMG has continued to strengthen its innovation capability and develop advanced scientific and technological research. Its products include the world’s largest XGT15000-600S tower crane , the world’s largest rear-wheel drive DE440 mining truck , the GR5505 extra-large mining grader , and the domestically produced XC9350 heavy-duty loader , all of which are part of its extensive high-quality catalog.
The XCMG aerial work platform also ranks 5th on the Access M20 manufacturers list .
