XCMG jumps to the first three in the 2021 global top 50 construction machinery manufacturers

Recently, the world's authoritative construction machinery information provider, the British KHL Group, released the 2021 global top 50 construction machinery manufacturers. The list shows that XCMG Construction Machinery Co., Ltd. jumped to the top three in the world with a total sales of 16.252 billion US dollars. This is the first time that a Chinese brand has entered the top three.

This year, the companies selected into the "2021 Global Top 50 Construction Machinery Manufacturers List" come from 13 countries including China, the United States, Japan, Germany, France, Italy, the United Kingdom, Sweden and South Korea.

Since 2002, the list has been released for 20 consecutive times, and has been widely recognized by the industry with scientific, objective, true and accurate selection criteria. This time, XCMG's  rankings not only highlight the company's high-quality development achievements in recent years, but also demonstrate the company's strong development potential.

According to the 2020 annual report XCMG’s revenue was 73.968 billion yuan, of which hoisting machinery, piling machinery, earth-moving machinery, spare parts and others achieved revenues of 26.489 billion, 7.331 billion, 6.616 billion, and 17.656 billion yuan respectively, a year-on-year increase of 27.15%, 24.05%, 4.70% and 34.68%. At the same time, the income scale of the company's main sectors hit a record high. The revenue of wheeled cranes exceeded 20 billion, core components exceeded 10 billion, and the revenue of foundation machinery exceeded 8 billion. The income of construction and maintenance machinery, loading machinery, and crawler cranes all exceeded 5 billion.

Throughout the past year, the company's mobile crane scale ranked first in the world, and the sales volume of 1,000-ton class wheeled cranes maintained an absolute lead. The domestic market share of loaders increased by 2.1% year-on-year. The share of road rollers, pavers, and milling machines increased by 4.0%, 10.7%, and 3.9%, respectively. The market share of asphalt mixing plants has jumped to the top two in the industry. Piling machinery increased by 24% and continued to rank first in the industry. The share of truck-mounted cranes increased to 60%, and the share of aerial work vehicles ranked first in the industry.

At the same time, in the first quarter of 2021, the company achieved operating income of 24.97 billion yuan, a year-on-year increase of 80.40%, and realized a net profit of 1.727 billion yuan attributable to the parent, a year-on-year increase of 182.44%. The strong market demand has brought about high-speed growth in performance, and sales revenue has increased significantly. In addition, in the first quarter of 2021, the company's sales expense ratio and management expense ratio were 4.07% and 1.39%, respectively, representing a year-on-year change of -0.72% and -0.13%， which means expense control capabilities have improved significantly.

The jump to the top three of the "2021 Global Top 50 Construction Machinery Manufacturers List" is another milestone for XCMG to actively explore a diversified development pattern based on continuous optimization and improvement of its traditional product line in response to market demand. The steady growth of the company's performance has laid a solid foundation for this ranking improvement, and the industry's status has been further improved.

In 2020, XCMG's market share of excavators has continued to increase, ranking second in the industry, and sales of large excavators over 40 tons have increased by 39.9% year-on-year. The full range of large mining machines has made great efforts. The market share of the tower crane segment has increased by 5.4% year-on-year. The concrete machinery segment has accelerated its pace of catching up, and the mixer truck market has increased faster than the industry and its competitors.

In recent years, XCMG has been focusing on the two main strategies of technological innovation and internationalization, and has continued to improve the global collaborative research and development system centered on the industry's first national technology center. Relying on the strength of independent innovation, XCMG has conquered a number of key technologies, and have contributed more than 100 domestically produced first (sets) of major equipment such as the world's biggest crane, Shenzhou No. 1 excavator, and Shenzhou No. 1 loader to promote the transformation and upgrading of digital, intelligent, and unmanned equipment.