PR84092

XUZHOU, China, May 20, 2020 /PRNewswire=KYODO JBN/ --

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

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=363884

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

Chinese OEM Firms