XCMG is a top 4 ranking manufacturer in the global construction machinery industry and has been named one of the world's top 500 brands for two consecutive years.
XCMG is the champion of export among Chinese brands, its export has expanded from 183 countries and regions worldwide to 187.
XCMG’s mixed-ownership reform brings in investment totaling 21.056 billion yuan (US$ 3.26 billion), further consolidates its advantages in the traditional infrastructure machinery sector and the intelligent construction digital industry upgrade empowered by 5G.
XCMG (000425.SZ), a leading construction machinery manufacturer, has achieved major success in the global market in 2020 by reaching the top tier. It has moved up from sixth to fourth place in the rankings of the world’s top 50 construction equipment manufacturers according to KHL’s Yellow Table 2020.
A champion of export among Chinese brands, XCMG’s products are now exported to 187 countries and regions worldwide. With a brand value of 80.276 billion yuan (US$ 12.42 billion), XCMG has been named one of the World’s 500 Most Influential Brands by The World Brand Lab in 2020. The 409th ranking was 18 places up from 2019 and XCMG also won the Chinese Brand Annual Award-Construction Machinery No.1 for the first time.
XCMG’s new development strategy integrating technological innovation, intelligent manufacturing (IM), internationalization, e-commerce and financing has brought vitality into the company and brand, as it thrives to reach the top of global construction machinery industry.
XCMG has set multiple sales records throughout the year of 2020, particularly in the sectors of crane and excavator.
The sales of all crane products increased significantly, with 1,000-tonnage equipment growing by three times year-on-year and accounting for nearly 50 percent of the export market share, ranking first across the industry.
The production and sales of excavators also delivered performance that exceeded expectations. The MAX series excavators received a large order of 110 units as soon as it was released to the market, and the annual sales of excavators doubled compared to 2018.
On November 24, XCMG joined bauma China 2020 with a full exhibition lineup of mega tonnage products, intelligent 5G unmanned equipment, environmentally-friendly new energy achievements, high-end core parts and components, comprehensive construction solutions and a dynamic large-scale joint construction demonstration show. During the four-day international trade fair, XCMG hosted more than 100 events online and onsite, with total views of global livestreaming exceeding 20.16 million.
In May and August, XCMG’s unmanned fleet of road machinery, the largest set in the world, successfully completed sections of the Panzhihua-Dali, the new Liuzhou-Nanning and Beijing-Xiong’an highways.
In November, XCMG released China's first super-tonnage electric wheel loader XC9350, which made the company the only manufacturer in China and one of the only three worldwide to have the capability of manufacturing equipment of the super large 35-tonnage, solidifying its leadership in the wheel loader market.
Driven by innovation, XCMG has laid out new IM bases and strategic emerging industry and service platforms in 2020:
- In March, XCMG inaugurated the construction of a special crane industrial base;
- In September, the crawler crane IM base project was signed and landed a total investment of 2.1 billion yuan (US$ 325.03 million);
- In October, the intelligent industrial base for mixing machinery was completed and put into production;
- In November, XCMG signed a contract to build a manufacturing base in Foshan, Guangdong Province with a total investment of 2 billion yuan (US$ 309.55 million);
- In December, XCMG signed the contracts for a foundation machinery IM base project in Jiawang (a district in Xuzhou) with a total investment of 5 billion yuan (US$ 773.87 million) as well as the XCMG-Tsingshan New Energy Industrial Base project with a total investment of 5.5 billion yuan (US$ 851.26 million).
In addition, XCMG officially opened Banco XCMG S.A. in Pouso Alegre, Brazil., its first wholly-owned overseas bank and the first China-invested enterprise bank in Brazil. The bank has been serving as a new financial platform for Chinese and Brazilian companies.
XCMG has also pushed its “Advanced and Endurable” quality standard further to upgrade and perfect its quality management model.
Mixed-ownership reform brings US$ 3.26 billion investment and starts new chapter
In September, XCMG completed its mixed-ownership reform and one of the largest transactions among state-owned enterprises’ mixed-ownership reforms. XCMG transferred 5.4-billion-yuan worth of equity (US$ 793 million) to three state-owned holding enterprises and signed a capital increase agreement with 12 strategic investor partners and employee shareholding platforms that totaled 15.656 billion yuan (US$ 2.3 billion).
With this investment, XCMG has speeded up the promotion of advantageous industries, stepped up the establishing of IM bases and strategically implemented the service arrangements of emerging industries.
X-GSS Embraces Digital Upgrade in Machinery Manufacturing
XCMG launched the XCMG-Global Service System (X-GSS), a key digital product integrating R&D, manufacturing and service in a full life-cycle service information system to provide accurate, value-added and satisfactory maintenance support for global customers.
XCMG’s innovative application of industrial big data received an award as a pilot project by the Ministry of Industry and Information Technology of the People’s Republic of China, including one IM factory and four demonstration IM workshops in Jiangsu Province, a state-leveled “green factory” and two pilot demonstration companies for the integration of manufacturing and internet development.
XCMG has successfully established the first 5G intelligent private network for industrial parks across the construction machinery industry, which will enable XCMG to carry out leading 5G integration application projects.
Total Health Program Promotes "Better Health, Better Future!"
In late March 2020, XCMG launched its first global health initiative, the Total Health Program (THP), as a response to the COVID-19 outbreak and increasing health risk challenges during the key period of resuming operations and production. The THP program aims to support XCMG employees to improve health, immunity and strength as well as taking measures across the manufacturing bases and companies to build a healthier working environment.
On October 24, XCMG successfully hosted the tenth company sports meet with 810 employee athletes from 27 teams participating in the annual sports game. The event hosted track and field competitions and was livestreamed to 9 million viewers worldwide.
