XCMG Again Took the 1st Place in Construction Machinery Industry
Starting from following others to taking the lead, and from obscurity to standing in the center of world stage, a rising number of Chinese manufactures are opening the gate towards the international market, reshaping the image of “made-in-China” products while changing the landscape of global brands.
On June 26, 2019, World Brand Summit & News Release for the 16th China’s 500 Most Valuable Brands was held in Beijing. World Brand Lab released the 2019 Report on China’s 500 Most Valuable Brands.
With brand value at CNY 71.3 billion, XCMG ranked the 65th place in the list, up by CNY 11.1 billion from 2018 (CNY 60.2 billion). This was the 6th time in a row for XCMG to take the lead in construction machinery industry.
World Brand Lab is an international professional brand research institute headquartered in New York, USA. With Professor Robert Mundell, the Nobel Laureate in Economics at Columbia University, as the Chairman, World Brand Lab is wholly owned by the world-leading strategy consultant World Executive Group (iceo.com). Its experts and consultants hail from top universities in the world, e.g., Harvard University, Yale University, MIT, University of Oxford, and University of Cambridge, etc. Nowadays, World Brand Lab is recognized as one of the world’s top 3 brand valuation organizations. Evaluations are based on the market share, brand loyalty and global leadership, etc.
At the News Release, XCMG CEO Yang Dongsheng was invited to roundtable meeting called Global Leadership and China College of Brands. He had in-depth discussions about “global leadership and rebuilding the Chinese brands” with Ravi Dhar, senior professor at School of Management in Yale University and Director of Yale Centre for Customer Insights, Richard Whittington, professor at Saïd Business School, University of Oxford, and other celebrities such as professors and experts from top universities in the world, famous top executives in brand management, and those from the academia and business communities.
Mr. Yang said brand is an integral part of corporate cultural building, which represents commitment to the stakeholders. In terms of brand culture building, we unite our global employees with common vision and mission. The strategy must be open. The communications between companies and people must also be open. Only in the open environment can we make sure each enterprise and individual have clear perception and sufficient confidence in our future development.
From CNY 28.7 billion to CNY 71.3 billion, XCMG harnesses innovations to drive high-quality development.
The High-end and world-class brand strategy is crucial to innovation-driven high-quality development and sustainable development upheld by XCMG in the past years. Through innovation-driven development and excellent quality management, XCMG keeps upgrading and transforming and marches towards high-end products, high-end market and top of the value chain.
“XCMG’s brand mission is to work on engineering and provide solutions to global construction projects and sustainable development. To become the world-class brand, the leading technologies and reliable products are essential.” Quoted Mr. Yang
In April 2018, the 700t excavator, known as the No. 1 Excavator in China, rolled off the line, making XCMG the sole manufacturer in China and one of the few manufacturers in the world that can develop and manufacture the super-large open-pit mining machinery. It has changed the competition pattern of large mining equipment in the world. XCMG’s 360t excavator hydraulic cylinders are exported to Rio Tinto of Australia, which formerly often used Japanese products. XCMG cylinders ranks in the top tier in the world, thanks to its more than 10,000 hours without down time. XCMG has made major progress in developing China’s own core parts
Rising by CNY 11.1 billion in one year, XCMG wins customer reputation with maximized value.
At the Internet era, products and services are moving towards intelligence. XCMG is working quickly to establish service network and platform. According to the life circle design and real-time sensing monitoring by the industrial Internet, XCMG helps customers solve problems immediately, provide preventative maintenance, repair and after-sales service. It greatly improves product reliability, enhancing XCMG ability to create values for customers.
Mr. Yang said, we fully understand brand-building is imperative to help the construction machinery products play the maximum role so that customers love to use XCMG products, love our brand, so as to cultivate the ecosystem featuring co-existence and win-win with the customers.
Take the lead in the industry for six years, XCMG pushes forward sustainable development with international vision
Future competition in China’s construction machinery industry lies in overseas market and high-end market. Only by winning competition in international high-end market, by providing the most valuable solutions to meet global customers’ various demands and help build a better world, can XCMG become the brand with global influnce.
At the end of 1980s, XCMG was the first to start international development. Three decades have passed, XCMG has built the global value chain of construction machinery industry with XCMG as the core. Nowadays, XCMG products have been exported to 183 countries and regions in the world, with an over USD 1.6 billion annual export. Its overseas revenues take up more than 30% of total revenue and its export volume has maintained the fastest growth rate in the industry over the past three decades.
While helping its global customers secure success, XCMG is also fulfilling the responsibility that “XCMG makes the world better”. XCMG engages in 14 kinds of charity projects in five fields, namely, earthquake and disaster prevention, education, poverty alleviation, industrial development, green and environmental protection. In 2018, XCMG works with suppliers to donate water cellars for schools. Together with upstream and downstream partners of XCMG, it fulfills the philosophy of sustainable development.
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