On August 30, XCMG Group Engineering Machinery Co., Ltd. (XCMG Machinery, 000425) announced that in the first half of this year, the company achieved revenue of 51.278 billion yuan, a year-on-year decrease of 4.78%; net profit was 3.589 billion yuan, a year-on-year decrease of 2.1%.
During the reporting period, XCMG Machinery achieved domestic revenue of 30.3 billion yuan, a year-on-year decrease of 20.46%; overseas revenue was 20.9 billion yuan, a year-on-year increase of 33.49%, and its proportion of total revenue increased from 29.07% in the same period last year to 40.75%, setting a new high. .
The Paper has learned that in the first half of this year, domestic construction machinery was still in a downward cycle, domestic demand continued to decline year-on-year, and industry demand mainly relied on overseas markets.
According to statistics from major excavator manufacturers from the China Construction Machinery Industry Association, in the first half of this year, sales of various types of excavators totaled 108,818 units, a year-on-year decrease of 24%. Among them, there were 51,031 domestic units, a year-on-year decrease of 44%; 57,787 units were exported, an increase of 11.2% year-on-year.
In terms of products, during the reporting period, the operating income of XCMG Hoisting Machinery was 11.909 billion yuan, a year-on-year decrease of 13.78%; the operating income of earthmoving machinery was 13.0 billion yuan, a year-on-year decrease of 6.43%; the operating income of concrete machinery was 5.34 billion yuan, a year-on-year decrease of 7.69% %; aerial work machinery operating income was 5.115 billion yuan, a year-on-year increase of 56.43%; mining machinery operating income was 4.236 billion yuan, a year-on-year increase of 40.86%; road machinery operating income was 2.698 billion yuan, a year-on-year increase of 66.45%; other engineering machinery, spare parts and other operating income 8.978 billion yuan, a year-on-year decrease of 27.94%.
In addition, XCMG Machinery’s gross profit margin in the first half of the year was 22.86%, a year-on-year increase of 2.44 percentage points.
XCMG Machinery is mainly engaged in the research and development, manufacturing, sales and service of lifting machinery, scraper machinery, compaction machinery, road machinery, piling machinery, fire-fighting machinery, sanitation machinery and other engineering machinery and spare parts. The company's products are mainly used in infrastructure construction, real estate development, large-scale projects, emergency and disaster relief, transportation, natural resource extraction and other fields. The overall demand is highly related to fixed asset investment.
In the first half of 2023, XCMG Machinery has established sales companies in the United Kingdom, Singapore, Saudi Arabia, the United Arab Emirates, and Vietnam, and multiple production bases, R&D institutions, and spare parts centers are under planning. Up to now, XCMG has 39 overseas subsidiaries, and its marketing covers 193 countries and regions around the world.
The announcement shows that in the first half of the year, XCMG Machinery's performance in many overseas regions grew rapidly: West Asia, North Africa, and Central America grew by more than 200%, Europe grew by more than 150%, and Central Asia and North America grew by nearly 100%.
According to the 2023 Top 50 Global Construction Machinery Manufacturers Ranking (Yellow Table 2023) released by the British KHL Group, XCMG Machinery ranked third with sales of US$13.407 billion. It is also the only Chinese construction machinery company to rank among the top three in the world for three consecutive years. manufacturer.
As of the close on August 30, Xugong Machinery reported 5.98 yuan per share, with a total market value of 70.661 billion yuan.
