With revenue of USD 11.162 billion, XCMG (SHE: 000425) has moved up to 4th 
place in the ranking of the world's top 50 construction equipment 
manufacturers, according to the Yellow Table 2020 released by British publisher 
KHL Group. XCMG once again leads the growth among the Chinese manufacurer 
companies on the list.

Photo - https://photos.prnasia.com/prnh/20200519/2807987-1 

The top 50 companies listed in the Yellow Table 2020 represent a total revenue 
of over US$200 billion in 2019, a 10 percent increase compare to 2018. The 
latest data disclosed by KHL Group showed that while there's been high 
volatility in the global construction machinery market, brands from China are 
becoming increasingly important sources of growth. China-based companies on the 
2020 list achieved nearly USD 36 billion, which equartes to 17.7% of total 
revenue from 50 brands. 

In 2019, the 'Belt and Road' Initiative fuelled China's export of construction 
machinery and equipment, the global economic recovery also drove growing demand 
in the construction machinery market, while factors such as the high growth of 
domestic infrastructure investment, surge in demand for replacement equipment, 
and the recovery of mining industry, all contributed to the rapid yet stable 
development of China's construction machinery industry.

"XCMG has always emphasized reaching the summit of Everest as the core 
aspiration of the company, which is shown by achieving continuous technological 
breakthroughs, global expansion backed by superior product quality, marketing 
and service. This is how we measure and have achieved our success so far," said 
Wang Min, Chairman of XCMG.

XCMG now holds nearly 1,000 core technologies, 32 percent of which are 
breakthrough technologies. Its success in the super-tonnage equipment sector is 
one of the keys to it standing strong in the international market, such as the 
4,000-ton crawler crane XGC88000, the world's No.1 crane which has set multiple 
world records. 

Chinese construction machinery brands only accounted for 2 to 5 percent of 
overseas sales 10 years ago, as China transforms towards quality-oriented 
manufacturing, the number has now increased to 30 percent. 

"XCMG's strategy amidst this industrial transformation is a focus on high 
quality, high efficiency, high value and sustainable. We want to create a new 
path that contributes to the high-quality development of the manufacturing 
industry and the economy," said Wang Min.

XCMG's new generation of "Advanced and Endurable" products have delivered 
excellent performance in global construction projects, such as the construction 
of the FIFA World Cup Qatar 2022™ stadium, the 480-kilometer Mombasa Nairobi 
Railway and Africa's largest Dangote refinery project. Worldwide, XCMG now has 
four overseas R&D centers, 15 manufacturing bases, KD factories or joint 
ventures, 70 subsidiaries and offices and more than 300 dealers. It is China's 
No.1 exporter of construction equipment and has held this title for 31 years in 
a row.

Source: XCMG


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   Caption: XCMG Jumps up to Global Top Four on KHL's Yellow Table 2020 
Continuing to Lead Chinese OEM Firms