With Growing Brand Value and Influence, XCMG's Export Revenue in First Half of 2022 Marks Over 157% Growth Year-on-year

After five years of rapid growth, the construction machinery industry has shown a downward trend starting from Q2 of 2021 that continued to this day, and China's domestic market is going through a cyclical adjustment. Facing the challenges, XCMG has mapped a new industry layout of "5 pillars and 10 emerging strategic industries" with a continuous focus on primary businesses: After five years of rapid growth, the construction machinery industry has shown a downward trend starting from Q2 of 2021...

After five years of rapid growth, the construction machinery industry has shown a downward trend starting from Q2 of 2021 that continued to this day, and China's domestic market is going through a cyclical adjustment. Facing the challenges, XCMG has mapped a new industry layout of "5 pillars and 10 emerging strategic industries" with a continuous focus on primary businesses:

"New XCMG" consolidates its leading position in the overseas market

In the first half of 2022, XCMG's overseas entities delivered outstanding performance, with revenues increasing by 71.8 percent. XCMG Brazil's first-half revenue has exceeded that of the annual total of 2021 and achieved a significant increase in profit and overall indicators. Company registration and site selection for XCMG's North American projects have been completed, and German Schwing's revenue has turned the tide, while India Schwing has become a benchmark of collaborative development with a 68.5 percent increase in revenue. XCMG India is officially in operation, and the group's subsidiary in Uzbekistan has reported revenue growth of 69.1 percent year-on-year.

"The 'New XCMG' will adhere to achieving transformation, upgrade, and high-quality development; continue to advance digital technologies supported by world-class software platforms; and strengthen the R&D of information technologies such as big data, AI, 5G, industrial IoT, and digital twin; while further expanding and stabilizing the innovation chain, industry, and supply chain to build core competitive advantages for growth and profit," said Lu Chuan, President of XCMG.

Photo - https://mma.prnewswire.com/media/1898588/image_1.jpg