With Growing Brand Value and Influence, XCMG's Export Revenue in First Half of 2022 Marks Over 157% Growth Year-on-year
XCMG Construction Machinery Co., Ltd.
(SHE:000425) reported 38.204 billion yuan (US$ 5.52 billion) in first-half
revenue of as of June 30, a 28.23% decrease year-on-year on a smaller drop
compared to the industry average. XCMG's revenue from export amounted to 12.488
billion yuan (US$ 1.8 billion), a 157.28% increase 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:
The hoisting machinery BU continues to lead
in the highly competitive market with 3.1 percent increase in market share and
sales breakthroughs of all-terrain cranes in the high-end European/American
markets;
The market share of crawler cranes has
increased by 8.1 percent. XCMG has expanded the business scope of truck cranes
and explored new opportunities for profitable growth;
XCMG Environment Technology has increased
market share and gross profit margin;
The revenues from small construction
machinery, maintenance machinery, forklift and information industry have
increased by 100.3, 18.3, 89.5 and 23.4 percent year-on-year.
"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.
