XCMG (SHE:000425) has disclosed its 2021 annual report on April 18th, hitting 
record highs in both revenue and net profit.

In 2021, XCMG has reported an operating revenue of CNY84.328 billion (US$13.2 
billion), year-on-year growth of 14.01 percent, and a net profit attributable 
to parent company of 5.615 billion yuan (US$879.1 million), up 50.57 percent 
year-on-year. Net cash flow generated by XCMG's operating activities reached 
8.073 billion yuan (US$1.26 billion), jumping 189.43 percent year-on-year for a 
record high.

XCMG has maintained top position in China's domestic construction machinery 
industry for 32 years consecutively, and for the first time in history, ranked 
among the top three in the world.

In 2021, XCMG's hoisting machinery was ranked number one worldwide for the 
first time. Its major product categories all achieved positive growth and 
sectors including earthmoving, piling, and aerial working machinery have also 
grown rapidly with increased proportions in operating revenue.

Furthermore, XCMG's overseas revenue has also increased by 111.81 percent 
year-on-year to reach 12.94 billion yuan (US$2.03 billion). Despite the impact 
of the COVID-19 pandemic, XCMG Brazil has achieved a major breakthrough with 
200 percent year-on-year growth in production and sales, and 198 percent 
increase in operating scale.

These emerging industries have also been advancing rapidly:

-XCMG has consolidated its leading position in lifting-type fire trucks and 
boom-type aerial work platforms with significantly improved profitability;

-The income generated by compact construction machinery has risen 50 percent 
year-on-year, and income from forklifts has increased by a whopping 258 percent;

-XCMG's new base for maintenance machinery was put into operation, and products 
including asphalt stations and chassis maintenance are ranked in the top 2 in 
the industry;

-XCMG's "Hanyun" industrial internet platform ranked in the top 3 in MIIT's 
2021 list of cross-industry and cross-domain industrial internet platforms.

"Whether circumstances are favorable or adverse, XCMG unremittingly strives to 
achieve the development goals of 'advanced quality, efficiency, performance and 
sustainability.' We always adhere to our original vision and intention and lead 
China's construction machinery companies to continuously challenge the 
industry's 'Mount Everest' and achieve high-quality development in the 
international market," said Wang Min, chairman and CEO of XCMG.

Source: XCMG

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   Caption: XCMG 2021 Annual Report: High-Quality Development Leads to 
Record-High Revenue and Net Profit Growth