World-leading construction machinery manufacturer XCMG is reporting a 70 percent jump in quarterly machinery sales in the first quarter of 2017 after selling more than 4,000 excavators worldwide, marking a 150 percent year-on-year increase.
Following on this growth trend, the XCMG Excavator Machinery Business Department is about to ship more than 20 intelligent excavators to Ghana, Africa, as XCMG's more advanced products attract customers in more international markets.
In addition to excavators, XCMG's other products, including truck cranes, crawler cranes and road rollers, also showed significant growth in sales in the first quarter.
Closely tied with the economy, the construction machinery industry is one of the important indicators of a state's macro-economic operation. A global leader in the industry, XCMG has bounced back from a low base and projects much-improved overall operations in 2017.
The sales of double-drum rollers have increased by 177 percent, surpassing other top international brands. Pavers with more than 12 meters' spread saw a 153 percent increase in sales, horizontal directional drills saw a 170 percent jump in sales, and the firefighting sector increased by 600%.
XCMG's Foundation and Heavy Truck divisions have secured large orders of 200 million yuan (US$29 million) and 60 million yuan (US$8.7 million) respectively as demand in those markets have also shown improvement from the previous year.
"While the industry was in a slump, XCMG continued to provide quality products, focused research and development on mid- to high-end products and further expand our product lines into intelligent manufacturing, and built an Internet of Things management platform to upgrade and optimize our products through analyzing big data," commented Sun Jianzhong, deputy general manager of XCMG.
XCMG invests 5 percent of capital into R&D every year. As the industry recovers, XCMG's years of experience and talented teams of engineers have enabled the company to maintain a more than 50 percent market share in the intelligent excavators, 500-ton crawler cranes and 80-ton truck cranes sectors in the first quarter 2017, according to China Construction Machinery Association.
XCMG is a multinational heavy machinery manufacturing company with a history of 74 years. It currently ranks ninth in the world's construction machinery industry. The company exports to more than 177 countries and regions around the world.