Chinese machinery manufacturer XCMG reports soaring profits

XCMG is reporting an 80% year-over-year profit gain of more than US $14.56 billion in operating revenue from January to November 2018, making it China’s No. 1 construction machinery manufacturer for the 29th consecutive year.

The company said product sales increased by 10% more than the industry average.

“XCMG continues to increase investment (and) expand global R&D to achieve breakthroughs in core technologies,” said Wang Min, chairman and CEO of XCMG. “Competition in the construction machinery industry is fierce, and XCMG must be ready to overcome challenges at any time.”

The company’s “Advanced and Endurable” machinery was involved in several significant construction projects in 2018, including the construction of the Hong Kong-Zhuhai-Macao sea bridge, which opened in October after nine years of work. XCMG contributed 300 aerial work platforms, 32 crawler cranes, 30 wheeled cranes, six big tonnage loaders as well as truck-mounted cranes, bridge inspection vehicles, pump trucks and concrete mixing stations.

As the mega-bridge opened to traffic, XCMG also deployed 14 high-end equipment sets, including high-altitude vehicles, lorry-mounted cranes and compact loaders to assist the daily management of the bridge.

In the Xinjiang Uyghur Autonomous Region, XCMG's three-boom drill jumbos are working on the construction of the world’s longest water conveyance tunnel in the northeast side of the Junggar Basin.

The equipment used must be designed to overcome the severe geological and climate challenges of the Gobi Desert. To combat these conditions, XCMG sent a team of technicians to create effective solutions and customized designs based on on-site analysis.

XCMG, which boasts 74 years of industry experience, currently ranks sixth in the world in construction machinery manufacturing.

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