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XCMG has established a network of over 150 agents in Europe, and the localization rate has increased to 60%. In 2024, XCMG's sales in the European market increased by 45% year-on-year, with electric equipment accounting for 35%. Under the impetus of the German government's green logistics zone policy, XCMG's electric loader XC9108EV has become the designated procurement model for the ports of Hamburg and Rotterdam, thanks to its zero-emission advantage.
In terms of technical certification, XCMG products have passed the EU CE certification, German TUV certification, etc. Its electric excavators XE19EV and XE27EV have even been nominated for the "European Product of the Year", becoming the first Chinese brand to enter the finals of this award.
The in-depth penetration of the "Belt and Road" market
XCMG has set up 40 overseas subsidiaries and over 300 dealers along the Belt and Road Initiative, covering more than 95% of the countries and regions. In 2024, XCMG's exports of construction machinery to Africa and Latin America increased by 28.9% and 26% respectively. Among them, its market share in Nigeria reached 25%, making it the largest Chinese construction machinery brand in the region.
In Uzbekistan, UzXCMG, a joint venture of XCMG, has delivered over 10,000 units of equipment. Its market share has remained the top for five consecutive years and has also expanded to Central Asian countries such as Kazakhstan and Kyrgyzstan. In 2024, XCMG established its first overseas value-added business center in the United Arab Emirates, focusing on the recycling of second-hand equipment and promoting the implementation of the "gold Mountain and Silver Mountain" aftermarket strategy.
Differentiated competition in emerging markets
In Southeast Asia, XCMG has launched Euro III standard models in response to the low emission standards of countries like the Philippines and upgraded the braking systems (such as installing ABS) to meet local safety requirements. In 2024, the sales volume of XCMG HaOMAN light trucks in the Philippine market exceeded 5,000 units, making it a major player in the logistics industry.
