XCMG (SHE:000425), the leading construction machinery manufacturer, has 
reported an annual sales revenue of USD5.66 billion in 2020, taking the first 
place in the long established ICM20 ranking of the world's largest crane 
manufacturers released by the British KHL Group on November 12. 

The 74 percent year-on-year robust growth has moved XCMG up from last year's 
fourth place to the top spot. And in the first 10 months of 2021, XCMG has 
reported a sales revenue of 235% increase for customized hoisting machines.

"XCMG has always put technological innovation a top priority, we now have five 
major R&D centers worldwide, a first-ranking national level technology center 
and the industry's only national key laboratory of high-end engineering 
machinery intelligent manufacturing and national industrial design center. 
Today, with the unremitting efforts of more than 4,000 XCMG scientists and 
engineers, we are leading the industry's technological innovation development 
and step by step, catching up and even surpassing with our competitors," 
remarked Wang Min, president and chairman of XCMG.

XCMG to lead China's construction machinery sector's sustainable development 

To build a better community with a shared future for the world, XCMG Hoisting 
Machinery published the "XCMG Hoisting Machinery Carbon Peak and Carbon 
Neutrality Declaration". The declaration solemnly promises to "actively pursue 
the green development vision and shoulder the responsibility of building an 
ecological civilization, taking the lead in the industry to complete the goals 
of reaching carbon peak and achieving carbon neutrality, and leading the 
high-quality, green, low-carbon and sustainable development of the industry".

To achieve that promise, XCMG has set out six goals in the declaration 
including vigorously promote clean and low-carbon energy structure, thrive to 
build a pioneering green and intelligent manufacturing enterprise, accelerate 
the application of low-carbon, energy-saving technologies and layout of new 
energy products, support China's clean energy construction, promote the 
application of remanufactured products and foster a sense of carbon reduction.

XCMG's pledge comes as China's construction machinery industry begins to take 
the international stage. 

According to Su Zimeng, chairman of China Construction Machinery Association 
(CCMA), there are nearly 50,000 private hoisting companies in China, among 
which the assets of the top 50 amount to close to USD1.57 billion. These firms 
have not only built a beautiful China, but have also been among the most active 
forces in global engineering constructions.

"China has massive potential for economic development with large-scale 
infrastructure constructions, and its 'dual carbon' goal shows a sense of 
responsibility of a major country. China's industries are showing two 
development trends of going green, low-carbon and industrial upgrading, which 
have also provided us with space for further development," said Su.

SOURCE  XCMG

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   Caption: XCMG Takes Top Place in the ICM20 Ranking of the World's Largest 
Crane Manufacturers