Sep 19, 2017   SOURCE: PR NewsWire

XCMG Cements Top Position In China's Construction Machinery Industry, Now Ranks 196th Among China's Top 500

- 77.4 percent jump in revenue YoY and 333.27 percent surge in profits YoY drive climb

BEIJING, Sept. 19, 2017 /PRNewswire/ -- XCMG has become the highest-ranking construction machinery company in China after taking 196th place in the 2017 China Top 500 Enterprises ranking released by the China Enterprise Confederation, the only comprehensive assessment in the country that considers a company's operation scale, profits, operating revenue, tax affairs and more.

With operating revenue of 77.11 billion yuan (US$ 11.81 billion), a 77.44 percent year-on-year increase, XCMG is now the No.1 construction machinery manufacturer in China. The company has also seen a 333.27 percent increase in net profit in the first six months of 2017.

"Our successful industrial transformation and upgrading, as well as our expanding operations in 'Belt and Road' Initiative (B&R) projects and BRICS countries, has allowed XCMG to maintain healthy, rapid and sound growth," said Wang Min, chairman of XCMG.

In the first half of 2017, XCMG has seen accelerating growth in all business sectors:

    --  Sales volume of wheeled loaders has doubled since 2016;
    --  the highest sales volume of cranes in the industry;
    --  top-three market share in excavator machines, especially mining
        excavators, with 70- and 90-ton excavators taking a 40 percent market
        share;
    --  sanitation equipment sales volume has increased by 60 percent, becoming
        a top-three brand in the market.

XCMG's export volume has seen a doubling of its growth rate in the past two years. By 2016, the company had expanded its market share in 48 out of the 65 countries along the B&R with export value accounting for 75 percent of total volume.

In Brazil, XCMG operates the company's largest manufacturing base outside China that has pushed supported economic development there.

"China is building strong international relationships which have presented opportunities for Chinese companies. XCMG is a leader in the industry thanks to its mission of designing products that are 'Advanced and Endurable', and is poised to thrive in this era of unprecedented bridge-building," Wang added.

About XCMG

XCMG is a multinational heavy machinery manufacturing company with a history of 74 years. It currently ranks ninth in the world's construction machinery industry. The company exports to more than 177 countries and regions around the world.

For more information, please visit: www.xcmg.com, or XCMG pages on Facebook, Twitter, YouTube, LinkedIn and Instagram.

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SOURCE XCMG