XCMG Machinery Achieves Record Revenue and Growth in 2023

XCMG Machinery, a prominent company based in China, has recently announced its financial results for the year 2023, showcasing remarkable achievements and growth.

The company recorded a record-breaking revenue of 92.848 billion yuan, with a substantial portion of 40.09% attributed to its international business operations. In response to its success, XCMG has proposed a 20% increase in its annual dividend, amounting to 1.80 yuan per ten shares.

Despite encountering challenges in the global market, XCMG demonstrated resilience by achieving double-digit net profit growth and enhancing its overall gross margin to 22.38%. The company also focused on optimizing its accounts receivable and inventory levels while expanding its market share across various product categories.

XCMG's success can be credited to its strong commitment to internationalization and technological innovation. The company's initiatives in digital supply chain management and intelligent manufacturing have garnered recognition at both provincial and national levels, underscoring its leadership in the industry.

In the first quarter of the current year, XCMG sustained its growth momentum, reporting an operating revenue of 24.041 billion yuan, reflecting a 0.96% increase year-on-year. Additionally, the company's net profit attributable to the parent company experienced a positive growth of 5.06%, further solidifying its position in the domestic market.

Looking ahead, XCMG is poised to concentrate on new energy products, spare parts, and high-end offerings to propel its future growth trajectory. Furthermore, the company is dedicated to fulfilling its social responsibilities and is gearing up to release its inaugural ESG (Environmental, Social, and Governance) report, highlighting its commitment to sustainable business practices.

For more information about XCMG Machinery and its latest developments, please visit their official website at https://www.xcmgglobal.com/.

XCMG Machinery's exceptional financial performance in 2023 underscores its resilience, innovation, and strategic focus on sustainable growth. With a strong emphasis on internationalization and technological advancements, the company is well-positioned to continue its success and make significant contributions to the industry.