[CCTV Special Report] XCMG Business Performance Set a New Record!

The construction machinery industry is one important indicator of the national macroeconomic operation. Recently, Transaction Time column of CCTV Economy Channel (CCTV-2) exclusively interviewed XCMG with a theme of “Seeing China's Economy Robustness Though Changes in the Machinery Industrial Chain”. 

Experts pointed out that the construction machinery industry has maintained a high growth rate for nearly four years, which is the longest in history.

 First, China’s domestic market, as the largest market in the world, can incubate large-scale enterprises, such as comprehensive enterprises, represented by XCMG.

Second, since 2008, the pace of Chinese enterprises going global has been accelerated. Pure global trade evolves into China design, global manufacturing and global marketing. 

The Transaction Time column of CCTV Economical Channel (CCTV-2) reported

As the leading enterprise in the Chinese construction machinery industry, XCMG shows what an excellent enterprise is like.

According to performance data in the first half of 2019, XCMG’s operation revenue and profit increased by nearly 30% and 165% respectively year-on-year. The main indexes set new records.

What is XCMG’s trump card for keeping continuous stable and high-quality increase when facing market cycle adjustment?

1.XCMG Business Performance Set a New Record!

In the first half of 2019, a group of data about XCMG’s high-quality development is impressive:

XCMG mobile cranes market share ranks the 1st in the world and XCMG also makes up half of 100-tonnage mobile crane market in China. XCMG’s 1000-tonnage large-scale cranes stand in the absolute leading position in the industry. XCMG piling and concrete machinery stand among the world's top three. 

It is worth mentioning that: On 2019 Yellow Table Equipment Top 50 released by KHL Group, XCMG ranks the 6th and continuously with annual sales revenue of 8.898 billion US dollars. XCMG maintains the 1st in the Chinese construction machinery for 30 consecutive years, and always keeps a steady and high-quality development space.

2. Precise efforts  to Build a World-class Conglomerate

In the first half year, the export sales of construction machinery grew rapidly and the emerging market became a new growth point. Taking excavators as an example, 25 major China  manufacturers exported 12,000 excavators in total with year-on-year growth of 38.7% and with domestic sales increased by 12.3% on year-on-year basis.

XCMG insisted in principles of “Three High and One Large” (High-end, High-technology, High-reliability and Large-tonnage) and secure new achievements.

In the first half year, XCMG sold more than 20,000 excavators with an year-on-year growth rate more than two times of the industry growth. The growth is among top 2 in the domestic market.

With the sales volume of more than 10,000 units, XCMG Trucks ranks the 1st among top 10 enterprises with high growth in the industry.

Concrete V7-series high-end product’ demand exceeds supply; the 4-axle concrete pump truck of 62 m ranks the 1st in sales volume in the industry. 

Meanwhile, XCMG truck-mounted crane’s market share exceeds 60%, leading the industry. Market shares of rotary drilling rigs, horizontal directional drilling machine, scraper, road roller and paver all rank the 1st in the domestic market; wherein, more than 25 units of large-scale land scrapers above 300 hp were sold in the 1st half year of 2019, drawing attention of global mining giants.

3. Overseas foray takes a new international step.

The Transaction Time column of CCTV Economical Channel (CCTV-2) reported

The construction machinery industry has various categories and applications. XCMG not only made breakthroughs in production capacities of high-end models, but also accelerated exploring of the international market, especially emerging countries. 

In the first half of 2019, according to statistic data from the Customs, both XCMG’s gross export and self-support export rank the 1st in the industry. At present, among 65 countries on the Belt and Road, XCMG’s export market share ranks the 1st in 35 countries.

Chen Xiangdong - Deputy Director of Technology Center of XCMG Xuzhou Heavy Machinery Co., Ltd expressed: XCMG products fully apply to local conditions. For example, in the Middle East and Africa, rubber ages quickly due to hot environment, so suspension of XCMG equipment is made of steel plates. 

Wang Min – Chairman of XCMG expressed: We will continue to explore the North American market and cooperate with partners. Meanwhile, we will also explore the emerging markets and we shall focus on both the mid-high end market and mid-low end market.

The above trump cards endow XCMG with healthy, sustainable and high-quality development ability.