XCMG Group, mainland China’s largest construction machinery manufacturer, aims to achieve annual overseas sales of 100 billion yuan ($14.7 billion), leveraging greener and more automated versions of its excavators, cranes and specialized vehicles to attract international clients.
Yang Dongsheng, chairman of the state-owned machinery giant, stated during a recent media briefing that the target aligns with the company’s ambition to become a top-class global machinery producer.
“Today, XCMG is no longer just a Chinese manufacturing brand,” he said. “As a rising global player, it is an important growth driver and value creator in the global construction machinery industry. No matter which business unit customers walk into, they will see the latest hi-tech, tailor-made solutions.”
The chairman did not specify when the company expects to reach its overseas sales target.
XCMG reported revenue of 102 billion yuan in 2024 and remains the world’s third-largest construction machinery manufacturer, trailing US-based Caterpillar and Japan’s Komatsu, according to Yang.
The company said 48 percent of its sales last year came from more than 100 markets outside mainland China.
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