A Record High! XCMG’s Performance in the First Quarter Rose across the Board
On April 27, XCMG released its first quarterly report for 2018. During the period, the Company realized operating income of RMB 10.784 billion yuan, with a year-on-year growth of 79.79%, creating a record high in its single-quarter revenue. The net profit attributable to shareholders of listed companies was RMB 519 million yuan, with an increase of 157.39% compared with the same period last year.
Earned a good start in the first quarter and accelerated profitability
After the 19th National Congress of the Communist Party of China, socialism with Chinese characteristics entered a new era and opened ''two new struggles for a hundred years''. As China’s economy is transformed from high-speed growth to high-quality growth, the industrial and consumption structures continued to be adjusted, and investment in infrastructure is continuously increased, so that the engineering machinery industry has entered into a sustainable development cycle.
Thanks to this, XCMG’s operating income in the first quarter of 2018 broke its historical record and its growth rate took the lead among major players in the industry, of which the sales growth of the eight mainframes in the engineering machinery industry exceeded 23.4% of average rate over the industry. The domestic market share of flagship products such as lifting machinery and road machinery continues to stay ahead, and the market share of scraper, excavation machinery, concrete machinery, and pile-driving machinery continues to increase. The revenue of core spare parts industry increased significantly on year-on-year basis. According to customs data, the export volume of XCMG brand exceeded more than 85% of average rate over the industry on year-on-year basis, and export revenue reached a new high in nearly five years.
Fruitful Results Are Achieved through “Quality, Efficiency, Scale and Sustainability” Everest Summit Reached a New Level
01 XCMG ranks sixth in the global industry
In the UK KHL 2018 List of the World’s Top 50 Engineering Machinery Manufacturers, XCMG jumped once again and ranked sixth in terms of its revenues of US$ 6.984 billion and global share of 4.3%, continuing to take the lead in Chinese engineering machinery industry.
02 XCMG was awarded excellent by the National Enterprise Technology Center in 2017-2018, ranking first in the industry.
According to the evaluation results of the National Enterprise Technology Center in 2017-2018 released by the General Office of the National Development and Reform Commission, XCMG was rated as excellent with 90.5 scores and ranked 46th over 1,300 participating companies, taking the first place in the industry.
03 2018 Annual Products TOP 50 of Chinese Construction Machinery was released, and 10 award-winning products belongs to XCMG.
XCMG XCA1200 all-terrain crane was awarded Gold Finger Prize, the highest award; XE3000 crawler excavator won the gold reputation; GR3505 grader won the gold award of practical contribution. Many competitive products such as XZJ5080JGKH5 telescopic aerial platform vehicle, XCT80L6 truck crane, XGT8020-16 tower crane, SQS300 truck with loading crane, XDA40 articulated dump truck, RP953T thick paver and XS365 full-hydraulic single vibratory roller are also on the winning list.
04 The “First Excavator in China”—700-ton hydraulic excavator was successfully developed and produced, breaking the international monopoly at one stroke.
The product has 52 independent patented technologies, and the cylinder, slewing ring, and large-scale structural parts are completely self-supporting, which marks that China has become the fourth country after Germany, Japan and the United States to develop a700-ton hydraulic excavator.
05 Stably implement the gold standard of “leading technology, everlasting products”, and continuously break through the market of mid-to-high end product
14 complete sets of XCMG high-end equipment were delivered to Hong Kong-Zhuhai-Macao Bridge Authority; bulk orders of XTC40_U were created in high-end North American market; 8 XCA60_E were sold in Turkey; 2 XCA1200 all terrain cranes were delivered to customers; QAY650 all terrain cranes exported to North Africa, which made a maximum tonnage record in domestic export; high-end RT70E off-road tire cranes exported to South Asia; 3 GR3505 high horsepower graders were sold in Australia and Tibet respectively; 44 high-end milling machines exported to Central Asia; total value of 7-12-ton large-tonnage loaders exported in batches exceeded 100 million yuan; Germany Schwing 65-meter 5-arm pump truck was sold in the United States; Rio Tinto EX2500 excavator was provided with 250-ton oil tank.
Securities analysts believe that benefiting from the continued prosperity of the engineering machinery industry, XCMG’s performance in the first quarter exceeded its expectations, and its product lines grew at a rapid rate. The Group’s income scale continued to be the highest in the country, and the excavator business experienced rapid growth, and the market share continued to increase. As the Chinese engineering machinery company that is closest to the top five in the world, XCMG is expected to continue its growth beyond expectations.
- XCMG Delivered Eight Cranes to Customer in Europe 2018-07-25
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- XCMG New Energy Light Trucks to Set Their Journeys on the Global Market 2018-06-22
- XCMG Units Delivered to the Department of Public Works and Highways, Philippines 2018-06-06
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