XCMG Machinery (“XCMG”, SHE:000425) has opened its fifth International Customers Festival (the “Festival”) recently in Xuzhou, China, lining up flagship products and innovative intelligent solutions to celebrate the Group’s milestone achievements with global customers, partners, industry experts, and media throughout the seven-day global event.
The first Festival was attended by more than 300 customers from 22 countries and set the highest single-day order signing record of 500 million yuan (USD 71.155 million).
This year marks the 80th anniversary of XCMG. Internationalization has always been the key strategy as it builds a world-leading enterprise of construction machinery products and solutions, following the roadmap of “high-end, intelligent, green, service-oriented, and international” development.
In the past three years, XCMG has achieved significant results in the international market, increasing the number of overseas dealers to 350 while expanding the business scope to emerging sectors, including agricultural machinery. XCMG now exports to more than 190 countries and regions worldwide, with R&D centers, manufacturing bases, and assembly plants operating in more than a dozen countries, including Germany, Brazil, the U.S., and India.
As a top three construction machinery manufacturer worldwide, the group’s five pillar sectors of earthmoving, hoisting, piling, concrete, and road equipment continue to lead the industry, and it has been China’s No.1 construction machinery manufacturer for 34 years consecutively.
In 2022, XCMG has grown strongly in the overseas market, with sales revenue accounting for 30 percent of the total. Its overseas revenue in the first quarter of 2023 exceeded 10.6 billion yuan (USD 1.51 billion), a record-breaking number for single-quarter performance that accounted for 45 percent of the total revenue, marking a strong start to a prosperous year.
At the same time of the Festival, XCMG had a team visiting Europe as part of Xuzhou’s trade delegation and signed orders totaling 32.526 million euros (USD 35.28 million) with customers in Germany, Poland, France, the Netherlands, Italy, and Spain.
“XCMG is committed not only to exporting ‘Advanced and Endurable’ products but also providing the integrated services and support as part of the ‘whole value chain’ strategy,” said Lu Chuan, president of XCMG. “We’re leveraging the technologies to build more overseas training centers and spare parts facilities to deliver prompt services to our global customers.”
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