XCMG

XCMG’s industrial lineage begins with Huaxing Iron Works, founded in 1943. The group’s official history records entry into construction machinery with a first tower crane in 1957 and the formal creation of Xuzhou Construction Machinery Group in 1989, when three Xuzhou machinery factories and a research institute formed the core group [1].

Based in Xuzhou, XCMG now describes a 5+1+1 industrial system spanning construction machinery, mining machinery, agricultural machinery, core components, rescue and support equipment, commercial vehicles and modern services. Its current company profile says its product-sales network covers more than 190 countries and regions, with more than 300 overseas outlets and annual exports above US$4 billion [2].

The group’s latest reported results show the scale of its international and new-energy push. XCMG says operating revenue reached RMB100.823 billion in 2025, up 8.37% year over year; overseas revenue was RMB48.599 billion, or 48.20% of the total, and new-energy revenue was RMB13.30 billion, up 23.6%. Its 2026 news release also reports a third-place global ranking in KHL’s Yellow Table 2026, with equipment sales of about US$14.2 billion and a 5.8% share [3].