RELEASE: XCMG Machinery records strong operations and industry dominance by 2022

(Information sent by the signatory company).

RELEASE: XCMG Machinery records strong operations and industry dominance by 2022

(Information sent by the signatory company)

XCMG Machinery advances operation target, industry development and management synergy in full swing in 2022

XUZHOU, China, Jan. 3, 2023 /PRNewswire/ -- XCMG machinery (SHE: 000425) has reported strong achievements of industrial development and operations in 2022, going against market trends to achieve revenue of more than 100,000 million yuan (14.36 billion US dollars) for three consecutive years.

XCMG is the No. 1 construction machinery manufacturer in China and No. 3 in the world. Despite the downward trend of the machinery market, its overall market share of the 12 categories increased by 3.04%, and in the heavy truck industry, it secured the eighth place. In addition, new energy heavy truck sales have grown 343% year-over-year, the second highest in the industry.

Its international market revenue from January to November increased 70% year on year, and it now ranks first in China's construction machinery sector in operating income, net profit and return on equity.

In 2022, XCMG not only consolidated its dominance in construction machinery RD and manufacturing, but also made breakthroughs in emerging industries as it accelerated its intelligent transformation.

XCMG's five-pillar industries - hoisting machinery, concrete, highway, earthmoving and piling - remain dominant. Revenues from its 10 new strategic industry sectors, including mining, agricultural and aerial work machinery, have increased 30% year-over-year.

XCMG's commercial vehicle sector experienced growth in 2022. New energy vehicle sales revenue from January to November increased 308% year-on-year, accounting for more than 30% of the total. Off-highway wide-body tipper sales from January to November increased 37.4% year-on-year and now occupy 21.29% of the market share. XCMG has also established an initial industrial framework system for the development of light truck products and has launched the Hanchi series.

Focusing on autonomous control, safety and stability, XCMG has made significant progress in core components and its joint venture battery cell project is well under way.

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

In addition, with a strong commitment to the "Help with Love" philosophy, XCMG has been actively pursuing social responsibility projects around the world while cultivating a large number of local technicians and skilled industrial workers through production and operations located in countries such as Brazil, India and Germany. His international public welfare projects, such as the Africa water cellar project and the X-Creators Challenge competition, have helped numerous individuals and communities.

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