XCMG was an equipment manufacturer that is capable of providing the most complete range and set of products and the optimal construction configuration for customers. This year, XCMG has seized the opportunity of national economic development, focused on key customers and large projects, sharpened brand competitiveness, taken full advantage of full series of products, showed great strength in both domestic and overseas markets, boosted the production of all equipment and parts, achieved year-on-year increases of nearly 60% and 82% in operating income and exports in the first half of this year, and continued to consolidate its leading role in the industry.
        In recent years, XCMG has constantly transformed the mode of growth, and has progressively shifted from relying on scale and speed to relying on brand, quality, high-end and lean management and benefit increase. Particularly since the beginning of this year, the company has stepped up internal restructuring and external reorganization, established companies such as Xuzhou Construction Machinery Co., Ltd., Xuzhou Basic Machinery Co., Ltd. and Xuzhou Railway Equipment Co., Ltd., invested in expanding the production scale of truck cranes, road building and maintenance machinery, road construction machinery, lorry-mounted cranes and small construction machinery, frequently won bids for new railway construction equipment, and achieved total sales of over RMB 100 billion; the construction of the engine company, with a joint investment from Doosan Group, Korea, has been launched, and the first phase is expected to be delivered for use by the end of this year; the construction of world-class Xuzhou Construction Machinery Research Institute, with a total investment of RMB 430 million, has kicked off; the company has intensified investments and financing, stepped up recombination and merger with domestic enterprises and acquisition of overseas high-caliber research institutions.

         XCMG aims to grow into an internationally competitive enterprise ranked among the world’s top 5 construction machinery manufacturers with an operating income of over RMB 100 billion in around three years.