XCMG Bolsters APAC Presence with New Financial Subsidiary and Expanded Service Initiatives

• XCMG Collaborates with GMT Company to Kick Off "Global Service Month" in Indonesia
• XCMG Financial Australia Pty Ltd Inaugurated in Melbourne, Australia

JAKARTA, Indonesia, Oct. 1, 2024 /PRNewswire/ -- XCMG Machinery ("XCMG", SHE: 000425) has significantly expanded its service capacity in the Asia-Pacific (APAC) region through strategic initiatives, including the launch of a new financing subsidiary in Australia and a collaborative "Global Service Month" campaign in Indonesia. These developments are part of XCMG's ongoing commitment to enhancing its market footprint and customer service across the region.

Yang Dongsheng, Chairman of XCMG Group, recently embarked on a two-week tour across key APAC markets, visiting local partners and witnessing the inauguration of several localized service innovation projects. This tour included stops at the newly established XCMG Australia Technical Center, XCMG Indonesia Spare Parts Center, its Indonesia Kendari Branch, and meetings with major industry players such as PT. SERVISTAMA PRO INDONESIA (SPI) in Indonesia, along with Rio Tinto and Brooks in Australia.

In Australia, this month marked a significant milestone for XCMG with the unveiling of XCMG Financial Australia Pty Ltd. The new financial platform is set to support financing and risk management systems throughout Oceania, bolstering regional business development. This follows April's launch of the Australian R&D center, further cementing XCMG's strategic layout in the country.

"By deepening our market presence and expanding our network channels in Australia, we are not only fostering strong partnerships but also advancing our capabilities to meet high-end market demands," stated Yang Dongsheng during his visit.

Additionally, Yang signed project agreements with Rio Tinto totaling nearly 800 million yuan ($113 million) earlier in this August, propelling both entities into a new era of global mining equipment leadership. Deployed worldwide, including in Australia, XCMG's "intelligent" and "green" products deliver comprehensive solutions for mining construction, material handling, urban development, and more.

The recent trip also took Yang to Indonesia, where he attended Mining Indonesia 2024. XCMG, the pioneering Chinese construction machinery brand to enter the Indonesian market, is participating in the Mining Indonesia exhibition for the 11th time, in collaboration with its distributor GMT. 

At this event showcased were twelve products from four major categories: mining machinery, earthmoving, lifting, and transportation equipment by XCMG. Highlighted were three electric-powered machines – the XC938-EV loader, the XT490 EV truck, and the electric dump truck XGE105, which drew significant attention due to their eco-friendly features.

Currently, XCMG is enhancing its aftermarket competitiveness in Indonesia through full industry chain innovation, thereby creating greater value for its customers. During the trade show, XCMG and GMT jointly kicked off the "Global Service Month" event. This initiative will engage customers across Indonesia, concentrating on their service requirements and dedicated to establishing a superior aftermarket service brand.

"Unwaveringly pushing forward 'full-chain development', upgrading innovative mining equipment, continuously exploring mineral markets, comprehensively laying out new energy fields, intelligent green, efficient, economical construction solutions, empowering dealers, customers, and partnering together, contributing towards building up Indonesian infrastructure," commented Yang.

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