Overseas revenue exceeds 50% of total for the first time as R&D investment rises 25.07%

XUZHOU, China, Sept. 8, 2026 /CNW/ -- XCMG Machinery (SHE: 000425) has released its financial results for the first half of 2026, reporting revenue of RMB 61.25 billion (approximately USD 9.03 billion), up 11.75% year-over-year.

Overseas revenue rose 21.03% to RMB 30.92 billion (approximately USD 4.56 billion), exceeding 50% of total revenue for the first time. The results reflect continued improvement in XCMG's revenue structure, supported by growth across its core businesses, emerging product segments and global operations.

Key performance highlights include:

   -- Profitability: Net profit attributable to shareholders of the parent 
      company totaled RMB 3.96 billion (approximately USD 584 million). Gross 
      margin reached 22.12%, up 0.09 percentage points year-over-year. 
 
   -- Core businesses: Revenue from lifting machinery and earthmoving machinery 
      increased 20.37% and 27.80%, respectively. The first main unit of the 
      world's first 14,000-ton ring crane, jointly developed by XCMG and 
      Sinopec Heavy Lifting & Transportation Co., Ltd., recently rolled off the 
      production line, highlighting XCMG's capabilities in high-end equipment. 
 
   -- Innovation: R&D investment increased 25.07% to RMB 3.30 billion 
      (approximately USD 486 million), with a focus on new energy, intelligent 
      technologies and core components. 
 
   -- Emerging businesses: Revenue from new energy products approached RMB 10 
      billion (approximately USD 1.5 billion), up 25.82%. Revenue from 
      L2-and-above intelligent products also approached RMB 10 billion, 
      increasing 25.48%, while intelligent product revenue in the open-pit 
      mining machinery segment rose 406.49%. 

XCMG now operates more than 60 overseas subsidiaries. During the first half of 2026, it established new trading subsidiaries in France and Nigeria. Its new energy manufacturing base in Indonesia entered production, while its Brazil plant was included in China's first group of overseas smart factories, marking further progress from overseas sales toward localized manufacturing.

The company's global network also includes more than 300 overseas dealers and over 2,000 service and spare parts outlets. Construction of overhaul centers in Indonesia and Simandou, Africa, is progressing as planned, further strengthening XCMG's overseas aftermarket service capabilities.

Taken together, these results underscore XCMG's continued focus on innovation, operational resilience and long-term value creation.

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