{"id":21975,"date":"2023-09-12T11:30:00","date_gmt":"2023-09-12T11:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4207184_CN07184_0"},"modified":"2023-09-12T11:30:00","modified_gmt":"2023-09-12T11:30:00","slug":"xcmg-machinery-reports-h1-2023-results-prominent-advantage-of-integrated-industrial-layout-and-high-quality-development-continues-to-break-new-grounds","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=21975","title":{"rendered":"XCMG Machinery Reports H1 2023 Results: Prominent Advantage of Integrated Industrial Layout and High-Quality Development Continues to Break New Grounds"},"content":{"rendered":"

XUZHOU, China<\/span><\/span>, Sept. 12, 2023<\/span><\/span> \/PRNewswire\/ — XCMG Machinery (“XCMG”, SHE:000425) has reported the operational and financial metrics of the first half of 2023, the key indicators including the sales revenue of 51.28 billion yuan<\/span> (US$ 6.98 billion<\/span>), net profit attributable to owners of the parent of 3.59 billion yuan<\/span> (US$ 488.81 million<\/span>), and weighted average return on net assets of 6.7 percent ranks first among major listed companies of China’s<\/span> construction machinery. <\/p>\n

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\"XCMG<\/a>
XCMG Machinery Reports H1 2023 Results: Prominent Advantage of Integrated Industrial Layout and High-Quality Development Continues to Break New Grounds.<\/span><\/p>\n<\/p><\/div>\n

In H1 2023, XCMG’s overseas revenue is up 33.5 percent year-on-year to reach 20.9 billion yuan<\/span> (US$ 2.85 billion<\/span>); the sales of new energy products amounted 5.27 billion yuan<\/span> (US$ 717.56 million<\/span>), a 174.9 percent growth year-on-year. The market share of major products has increased 1.93 percent year-on-year. With milling machine and asphalt mixing station products taking first positions in domestic market, XCMG now has 15 equipment products holding the highest market share in China. <\/p>\n

XCMG’s net profit attributable to owners of the parent in Q2 was up 31 percent year-on-year. And in H1 2023, it has achieved 1.39 billion yuan<\/span> (US$ 189.26 million<\/span>) of net cost reduction in procurement and net cost reduction rate of 4.53 percent. The company’s gross profit margin of 22.86 percent has increased by 2.44 percent year-on-year; the net profit margin on sales reached 7 percent, which is up 0.19 percent year-on-year, with the Q2 performance reaching 7.54 percent, 1.77 percent increase year-on-year. <\/p>\n

“XCMG has been advancing steadily to achieve a resilient, high-quality development. In the context of complex and fast-changing market environment, the new XCMG \u2013 with new ideas, new concepts, and new mechanisms \u2013 is pushing forward the intelligent and digital transformation following the five strategies of ‘high-end, intelligent, green, service-oriented, and globalization,'” said Yang Dongsheng, CEO of XCMG. <\/p>\n

A “Four-in-One” roadmap for international development
XCMG has established a “four-in-one” international development model of product export, overseas factories, cross-border mergers and acquisitions, and globally collaborative R&D. XCMG now exports to more than 190 countries and regions worldwide, providing not only “Advanced and Endurable” products, but also integrated services and spare parts support. <\/p>\n

XCMG’s overseas revenue of US$ 2.85 billion in H1 2023 accounted for 40.75 percent of total revenue, a 11.08 percent increase year-on-year, with multiple regions and products achieving rapid growth: <\/p>\n