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XUZHOU, China, Sept. 15, 2022 /PRNewswire=KYODO JBN/ --

XCMG Construction Machinery Co., Ltd. (SHE:000425) reported 38.204 billion yuan

(US$ 5.52 billion) in first-half revenue of as of June 30, a 28.23 percent

decrease year-on-year on a smaller drop compared to the industry average.

XCMG's revenue from export amounted to 12.488 billion yuan (US$ 1.8 billion), a

157.28 percent increase year-on-year.

Per the simulated financial statements after the completion of material assets

reorganization, "New XCMG" ranks No.1 in China's construction machinery

industry in terms of total revenue and net profit. In addition, XCMG's interim

dividend plan has a proposed dividend of 2.3 yuan per 10 shares (tax included).

After five years of rapid growth, the construction machinery industry has shown

a downward trend starting from Q2 of 2021 that continued to this day, and

China's domestic market is going through a cyclical adjustment. Facing the

challenges, XCMG has mapped a new industry layout of "5 pillars and 10 emerging

strategic industries" with a continuous focus on primary businesses:

-The hoisting machinery BU continues to lead in the highly competitive market

with 3.1 percent increase in market share and sales breakthroughs of

all-terrain cranes in the high-end European/American markets;

-The market share of crawler cranes has increased by 8.1 percent. XCMG has

expanded the business scope of truck cranes and explored new opportunities for

profitable growth;

-XCMG Fire-fighting Safety Equipment maintained the No.1 position in lifting

fire trucks and boom-type aerial work platforms and launched construction for

the second phase of its new base;

-XCMG Environment Technology has increased market share and gross profit margin;

-The revenues from small construction machinery, maintenance machinery,

forklift and information industry have increased by 100.3, 18.3, 89.5 and 23.4

percent year-on-year.

"New XCMG" consolidates its leading position in the overseas market

In the first half of 2022, XCMG's overseas entities delivered outstanding

performance, with revenues increasing by 71.8 percent. XCMG Brazil's first-half

revenue has exceeded that of the annual total of 2021 and achieved a

significant increase in profit and overall indicators. Company registration and

site selection for XCMG's North American projects have been completed, and

German Schwing's revenue has turned the tide, while India Schwing has become a

benchmark of collaborative development with a 68.5 percent increase in revenue.

XCMG India is officially in operation, and the group's subsidiary in Uzbekistan

has reported revenue growth of 69.1 percent year-on-year.

"The 'New XCMG' will adhere to achieving transformation, upgrade, and

high-quality development; continue to advance digital technologies supported by

world-class software platforms; and strengthen the R&D of information

technologies such as big data, AI, 5G, industrial IoT, and digital twin; while

further expanding and stabilizing the innovation chain, industry, and supply

chain to build core competitive advantages for growth and profit," said Lu

Chuan, President of XCMG.

SOURCE: XCMG

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=429418

   Caption: With Growing Brand Value and Influence, XCMG’s Export Revenue in First Half of

2022 Marks Over 157% Growth Year-on-year.