XCMG launched 2022 annual report

Date:2023-05-10 Author:Mark Source:www.chinaspv.com

May 10, 2023, China, Lately, XCMG disclosed its 2022 annual report. Under the situation that the domestic construction machinery industry is in a period of cyclical adjustment, XCMG has handed over a report that is superior to the industry.

According to the annual report data, in 2022, XCMG Machinery realized an operating income of 93.817 billion yuan and a net profit of 4.307 billion yuan attributable to shareholders of listed companies. During the industry adjustment period, the company has shown strong resilience. In addition, the company's return on net assets is 8.13%, which is also the highest among several giants in the domestic construction machinery industry.

Industry-leading technological innovation capability is one of the core competitiveness of XCMG Machinery. Even if the industry is in a period of adjustment in 2022, the company still maintained strategic focus. In 2022, XCMG’s R&D investment reached 5.75 billion yuan, an increase of 6.13% from 5.418 billion yuan in the previous year. The ratio of R&D investment to operating income has increased significantly from 4.64% in 2021 to 6.13%.

At the end of 2022, the number of XCMG R&D personnel reached 5,767, an increase of 14.97% over the previous year. Most of the newly added R&D personnel were masters and doctors.

As of the end of 2022, XCMG has accumulatively owned 9,742 valid authorized patents, including 2,458 invention patents and 183 international patents, 2 patent gold awards and 1 silver award.

In recent years, the first (set) of major equipment independently developed by XCMG Machinery has led China's high-end manufacturing. Iconic products include: the world's first XGC88000 crawler crane with the largest lifting capacity, XCA2600 all-terrain crane, XGT15000-600S tower crane, the world's first XDE440 electric drive dump truck with the largest load capacity, the world's first XR1600E rotary crane with the largest tonnage digging rig, XZ13600 horizontal directional drilling rig, the world's first JP80 high-lift jet fire truck, China's first largest tonnage XE7000 hydraulic excavator, XC9350 electric drive wheel loader, ET200 walking excavator, XTC80 The /85 double-wheel milling machine, which fill the gap in China and in the international market.

In 2022, XCMG Machinery achieved an operating income of 93.817 billion yuan, including 27.838 billion yuan in internationalization revenue, a year-on-year increase of 50.5%, and export revenue of 21.63 billion yuan, a year-on-year increase of 70.5%. Overseas income of 27.838 billion yuan has accounted for 29.67% of XCMG's operating income, nearly double the 15.84% of the previous year.

In fact, XCMG's overseas business has not only grown rapidly, but the gross profit margin of overseas business has also increased by 0.64 percentage points to 22.33%, which is higher than the 19.32% gross profit rate of domestic business.

In 2022, XCMG machinery exports expanded to 191 countries and regions, and the export share increased by 2.42 percentage points. Eight major regions grew in an all-round way. Asia Pacific, Central Asia, Africa, America, Europe, West Asia and North Africa, Oceania region and eight countries in South America increased by 60.2%, 68.82%, 35.97%, 217.94%, 195.11%, 27.19%, 19.10%, and 99.29% respectively. The growth in the American and European regions was particularly notable, demonstrating the recognition of the company's products in the high-end market.

In 2022, the annual revenue of XCMG Brazil Manufacturing increased by 86.35%. German Schwing revenue increased by 30.33%. The Indian company officially started its first year of operation, and the localized production capacity increased rapidly.

In recent years, XCMG has systematically deployed global R&D bases, further supporting the company's technological innovation and internationalization strategy.

XCMG maintains strategic focus during the industry's downturn, or will seize the opportunity after the industry stabilizes. Considering the industry, domestic and international situation comprehensively, the company expects revenue to grow by about 10% in 2023.