XUZHOU, China, Sept. 14, 2022 /PRNewswire/ — XCMG Construction Machinery Co., Ltd. (SHE:000425) reported 38.204 billion yuan (US$ 5.52 billion) in first-half income of as of June 30, a 28.23 % lower year-on-year on a smaller drop in comparison with the trade common. XCMG’s income from export amounted to 12.488 billion yuan (US$ 1.8 billion), a 157.28 % enhance year-on-year.
Per the simulated monetary statements after the completion of materials property reorganization, “New XCMG” ranks No.1 in China’s development equipment trade in phrases of whole income and internet revenue. In addition, XCMG’s interim dividend plan has a proposed dividend of 2.3 yuan per 10 shares (tax included).
After 5 years of speedy development, the development equipment trade has proven a downward pattern ranging from Q2 of 2021 that continued to this present day, and China’s home market goes via a cyclical adjustment. Facing the challenges, XCMG has mapped a brand new trade format of “5 pillars and 10 emerging strategic industries” with a steady concentrate on major companies:
- The hoisting equipment BU continues to guide in the extremely aggressive market with 3.1 % enhance in market share and gross sales breakthroughs of all-terrain cranes in the high-end European/American markets;
- The market share of crawler cranes has elevated by 8.1 %. XCMG has expanded the business scope of truck cranes and explored new alternatives for worthwhile development;
- XCMG Fire-fighting Safety Equipment maintained the No.1 place in lifting fireplace vans and boom-type aerial work platforms and launched development for the second section of its new base;
- XCMG Environment Technology has elevated market share and gross revenue margin;
- The revenues from small development equipment, upkeep equipment, forklift and info trade have elevated by 100.3, 18.3, 89.5 and 23.4 % year-on-year.
“New XCMG” consolidates its main place in the abroad market
In the primary half of 2022, XCMG’s abroad entities delivered excellent efficiency, with revenues rising by 71.8 %. XCMG Brazil’s first-half income has exceeded that of the annual whole of 2021 and achieved a major enhance in revenue and total indicators. Company registration and web site choice for XCMG’s North American tasks have been accomplished, and German Schwing’s income has turned the tide, whereas India Schwing has turn into a benchmark of collaborative growth with a 68.5 % enhance in income. XCMG India is formally in operation, and the group’s subsidiary in Uzbekistan has reported income development of 69.1 % 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,” mentioned Lu Chuan, President of XCMG.
SOURCE XCMG
