XCMG got his momentum in 2014 in innovation, transformation and globalization against depression in both domestic and overseas markets. Her persistence and triumphalism brought an overall harvest in market shares and enviable reward in competition privilege.
Chinese President Xi Jinping pointed out that China needs to make a couple of direction turns to bring Chinese made to Chinese invented, Chinese speed to Chinese quality, and Chinese goods to Chinese brands.
In 2014, domestic economy stepped into a novel normality and world’s industries kept restructuring, which triggered another round of shuffling, which brought a chilly and deprivation moment to businesses, especially, the heavy construction machine industry. Nevertheless, such bleak situation happened to be the touchstone and opportunity for XCMG to continue her quenching-type strategic transformation and innovation. She confronted the market depression with her new strategies, tactics, methods, systems and models and had a reverse from chasing a high growth into pursuing core competitiveness. The new marketing and operation model is set up. The refinement management applied. The industry chain updated. And the R&D capacity enlarged. All the endeavors got her goals achieved one after another. Her business scales did her the No. 1 in China and No.5 in the world. Her business health indicators continued to better off. Overseas bulk orders for 1000-ton crawler crane, all-terrain crane and 100-meter platform fire truck were just brought back substantial revenues. Then another success in one Chinese defense procurement bidding had her on headlines. Her Brazil factory was made available for production. R&D centers in Germany and the United States had major breakthroughs. Her market shares in Brazil, Russia, Central Asia, Middle East, and Australia maintained the third place. And her positive resources continued in proliferation and cultivation of her brand reputation and business strength.
Looking ahead to the next five years, Chinese economy will descend into a moderate high growth trajectory and the most world’s economies will be out of a downturn. XCMG shall do more in industrial revitalization and bring Chinese heavy construction machine industry to a new height. Implementation of two grand strategies by Chinese government, Silk-way Re-habitation and Ocean Silk-way Adventures, gives XCMG a historical opportunity. Transition and upgrading remain to be her main job. Innovation and globalization are still her two focuses. Keeping abreast with top line competitors and their products shall be her overall attempt. She must take her wisdoms and concepts to customers. She must upgrade her asset quality, profitability and competitiveness. She must fortress her front lines persistently. And, at meantime, she must grab new territories.
It will have a long haul, which may need a couple of generations to catch the crown. In this journey, XCMG will do her jobs, play her roles and contribute her resources to cast a top brand in full Chinese authenticity.
