XCMG Machinery Reports Strong Operations and Industry Dominance for 2022

XCMG machinery (SHE:000425) has reported strong operation and industry development achievements in 2022, going against market trends to achieve  a revenue of over 100 billion yuan (USD 14.36 billion) for three consecutive years.

XCMG is the no.1 construction machinery manufacturer in China and third globally. Despite the machinery market downtrend, its overall market share of the 12 categories rose by 3.04 percent, and in the heavy truck industry, it secured eighth place. Also, sales of new energy heavy trucks have grown by 343 percent year-on-year, the second highest in the industry.

Its international market revenue from January to November increased by 70 percent year-on-year, now ranking first in the Chinese construction machinery sector for operating revenue, net profit and return on equity.

In 2022, XCMG has not only consolidated its dominance in construction machinery R&D and manufacturing, but also achieved breakthroughs in emerging industries, as it accelerates its intelligent transformation.

The five pillar industries of XCMG, namely hoisting, concrete, road, earthmoving and piling machinery, continue to be dominant. Revenue from its 10 strategic new industry sectors, including mining, agricultural and aerial work machineries, has increased 30 percent year-on-year.

XCMG's commercial vehicle sector has seen growth in 2022. Sales revenue from new energy vehicles from January to November increased 308 percent year-on-year and accounted for over 30 percent of the total. Sales of non-road wide-body dump trucks from January to November increased 37.4 percent year-on-year and now claims 21.29 percent of the market share. XCMG has also established an initial industrial framework system for light truck product development and launched the Hanchi series.

Focusing on autonomous control, safety and stability, XCMG has achieved major breakthroughs of core components, and its joint venture battery cell project is underway.

XCMG has invested in 21 industrial projects, including intelligent manufacturing bases for foundation, harbor and hoisting machinery equipment.

Furthermore, with a strong commitment to the "Help with Love" philosophy, XCMG has been actively carrying forward social responsibility projects worldwide while cultivated a large number of local technicians and industrial skilled workers through localized production and operation in countries including Brazil, India and Germany. Its international public welfare projects, such as the water cellar project in Africa, and the X-Creators Challenge competition, have helped numerous people and communities.