XCMG Machinery Reports Strong Revenue Growth and Global Expansion

XCMG Machinery, a leading Chinese machinery manufacturer, reported a 11.75% increase in revenue to RMB 61.25 billion (approximately USD 9.03 billion) for the first half of 2026. This growth is particularly notable given the company's strong overseas performance, with overseas revenue surpassing RMB 30.92 billion (approximately USD 4.56 billion), marking the first time such revenue has exceeded 50% of total sales.

The robust growth across XCMG's core businesses and emerging product segments is evident in the company's diverse portfolio. Lifting machinery and earthmoving machinery saw significant increases, with revenues growing 20.37% and 27.80% respectively. A key milestone was the production of the first main unit of the world's first 14,000-ton ring crane, a joint venture with Sinopec Heavy Lifting & Transportation Co., Ltd. This achievement underscores XCMG's capability in high-end equipment.

XCMG's commitment to innovation is underscored by its increased R&D investment, which rose by 25.07% to RMB 3.30 billion (approximately USD 486 million). The company's focus on new energy, intelligent technologies, and core components reflects its strategic direction for the future. New energy products generated nearly RMB 10 billion (approximately USD 1.5 billion) in revenue, a 25.82% increase, while revenue from L2-and-above intelligent products also approached RMB 10 billion, increasing 25.48%. In the open-pit mining machinery segment, intelligent product revenue surged by a remarkable 406.49%.

XCMG's global expansion is evident in the establishment of new trading subsidiaries in France and Nigeria. Its new energy manufacturing base in Indonesia has begun production, and the Brazil plant has been designated as part of China's first group of overseas smart factories. These developments signify a shift from merely selling products overseas to localized manufacturing, further enhancing the company's operational resilience.

The company’s extensive global network includes more than 60 overseas subsidiaries, 300 overseas dealers, and over 2,000 service and spare parts outlets. Construction of overhaul centers in Indonesia and Simandou, Africa, is progressing well, reinforcing XCMG's capabilities in after-sales service. These efforts contribute to the company’s focus on long-term value creation and operational resilience.

Overall, XCMG's financial results for the first half of 2026 reflect its strategic focus on innovation, operational resilience, and the diversification of its product portfolio. The company's continued growth in overseas markets and commitment to cutting-edge technologies positions it well for future success in the global machinery industry.