The rapid growth of excavator business has become the new growth engine for XGMA

Benefited from the recovery of the industry, the growth in performance far exceeded expectations. In the first half of the year, due to factors such as the country’s large-scale promotion of urbanization and the implementation of regional revitalization plans, the Chinese construction machinery market experienced a significant year-on-year increase. According to statistics from the China Construction Machinery Industry Association, domestic loader industry sales in the first half of the year increased by 57.99% year-on-year, and excavator industry sales increased by 97.66% year-on-year.

The sales volume of loaders has maintained a rapid growth. XGMA is the first loader manufacturer in China and has always been at the forefront of the domestic loader market. The market share has been on the rise in recent years, and the current share is close to 17%. In the first half of the year, the company sold 20,120 sets of loaders, a year-on-year increase of 106.51%, which significantly exceeded the industry's growth rate of 57.99%, of which 404 were exported, a year-on-year increase of 100%.

The excavator became the new growth engine of XGMA. After entering the excavator market in 2006, the company achieved rapid growth in sales volume in just four years. From January to July, the company sold 1,773 units, an increase of over 200% year-on-year. It is expected that the annual sales will exceed the company’s target of 2,000 units. In the first half of the year, there was a bottleneck in the production capacity of the company's excavators. Therefore, the implementation of 12,000 sets of excavator technical transformation investment projects has become the company's key operating tasks in the second half of the year The rapid growth of the excavator business will change the past performance of a single product loader.