Embracing changing times and creating a legend for China's equipment manufacturing industry

XCMG Mixed-Ownership Reformation Investors Signing Ceremony was held on Sept. 22, marking another milestone in their journey of transformation. A 5.4 billion-worth Equity Transfer Agreement and 15.656 billion-worth Capital Increase Agreement were signed on the ceremony, which were acknowledgments of XCMG's competence.

In 1943, Huaxing Ironworks, XCMG's predecessor was born, bearing the glory and dream of history. At the beginning of the founding of New China, XCMG developed China's first 2-ton tower crane, the first 10-ton steam road roller and the first concrete pump truck, among other construction machinery, which filled many gaps in the field of China's construction machinery.

In 1963, XCMG successfully developed the first Q51 Mobile Crane, opening a new chapter in the development of China's crane industry. In 1978, XCMG introduced foreign advanced technology and successfully trial-produced China's first QY16 hydraulic mobile crane in 1979.

In the 1990s, “XCMG for your success” was a slogan widely heard across the country, and XCMG became widely known to the public. In March 1989, XCMG Construction Machinery Co., Ltd was formally established. On August 28, 1996, XCMG Construction Machinery Co., Ltd. was listed on the Shenzhen Stock Exchange, becoming the first local company to be listed in Xuzhou, Jiangsu Province.

In recent decades, XCMG has launched the XCA1600 crane, the world's most all-ground crane; XCMG DE400, China's largest electric drive dump truck; XCMG ET120, the "Steel Mantis" walking excavator and XCMG XGC88000, the 4000-ton-level crawler crane. XCMG is constantly improving the competitiveness of its product and technology research and development. Over the years, its product exports have increased to 187 countries and regions around the world, demonstrating its transition from "manufacturing" to "intelligent manufacturing”。

On May 18th, British publisher KHL Group released the Yellow Table 2020.  With a revenue of USD 11.162 billion, XCMG has moved up to 4th place in the ranking of the world’s top 50 construction equipment manufacturers. XCMG once again leads the growth among the Chinese manufacturer companies on the list.

"I have full confidence in the new XCMG," announced Wang Min, chairman of XCMG. He stated that XCMG has been continuously embracing change and seeking opportunities, achieving glory for China's equipment manufacturing industry with its innovative products and making major technological breakthroughs.