On May 18th, British publisher KHL Group released the Yellow Table 2020. The top 50 companies listed in the Yellow Table 2020 represent a total revenue of over US$200 billion in 2019. The total sales of China-based companies on the list reached nearly USD 36 billion, accounting for 17.7% of total revenue from 50 brands. With a revenue of USD 11.162 billion, XCMG has moved up to 4th place in the ranking of the world’s top 50 construction equipment manufacturers, once again leading the Chinese manufacturing companies on the list.
The Belt and Road Initiative has built an important platform for the globalization of Chinese construction machinery enterprises. The Chinese construction machinery enterprises represented by XCMG have been put to the test, continuously enhancing their global competitiveness and strengthening their influences in product and technology research and development.
Recently, the internationalization process of XCMG has once again obtained a new breakthrough. XCMG has currently set up four overseas R&D centers, 15 manufacturing bases, KD factories or joint ventures and has over 300 dealers. XCMG products make up the largest export market share in 30 countries along the “One Belt and One Road” route.
XCMG products have also achieved brilliant results in international construction projects. They have participated in a series of major projects all over the world including the construction of the FIFA World Cup Qatar 2022™ stadium, the 480-kilometer Mombasa Nairobi Railway and Africa’s largest Dangote refinery project.
In recent years, China's construction machinery industry has developed by leaps and bounds. From scale expansion to quality enhancement, XCMG has seized each of its opportunities, investing full efforts into high-end product innovation and market internationalization. Whether it is for the construction of “the world's first crane” ——XCMG 4000t crawler crane XGC88000 or “China's first excavator”——XCMG 700t hydraulic excavator, XCMG has always relied on the development strategy of “high quality, high efficiency, high value and sustainability”. XCMG continuously strengthens its management transformation, breaks through high-end technology, and takes root in the global layout, portraying the charm and elegance of products “made in China” through contributing to the world a series of top-notch products.
2020 is the first year of the “Three-Year Strategy towards the Top of Mount Everest”. XCMG has been actively catching up with the global benchmark enterprises and products in the high-end equipment development field, and continues to take the leading position in the domestic industry. XCMG now holds nearly 1,000 core technologies, 32 percent of which are breakthrough technologies.
A world-class company has to compete on top battlefields. As Wang Min, chairman of XCMG once said, only by transforming “manufacturing” to “smart manufacturing” and realizing “advanced and endurable” technology, can the name of XCMG shine brighter in the world.