XCMG Ships 972 Units of Construction Machinery Equipment to South America

• Strong global alliance network helps XCMG to deliver durable commitment
• 972 units marks China's biggest single order of machinery exports in the past 5 years

LIANYUNGANG, China, July 20, 2021 /PRNewswire/ --  Leading construction machinery manufacturer XCMG (000425.SZ) sends off 972 units of construction machinery products to customers in South America via COSCO Shipping on July 20 from Lianyungang, China. XCMG's batch delivery including excavators, loaders, graders, among others, were loaded in 935 containers, marking the single largest overseas shipment in five years and the second largest since the V58 Project in 2011.

"The delivery event in partnership with COSCO Shipping is of great significance for XCMG and our partners. We overcame the huge difficulty of supply chain maintenance during the COVID-19 pandemic situation, and enhanced global customer confidence," said Lu Chuan, President of XCMG.

XCMG and COSCO Shipping have formed a powerful alliance since XCMG won the bid for a major project in South America in early 2021 but then faced the enormous challenge of delivering all products within a short period of time during the pandemic as the global supply chain and sea freight logistics capacity was massively restricted. COSCO Shipping acted quickly to allocate resources and customized a solution plan for XCMG to solve the container transportation issues to ensure timely and orderly shipping.

By the end of the first half of 2021, XCMG's export volume increased by 70 percent YOY. Its products are now sold in 187 countries and regions worldwide, including 97 percent of Belt and Road Initiative countries, and XCMG now holds the highest export market share in 30 countries.

The XCMG-Venezuela V58 project in 2011 which totaled USD744.6 million has been the largest export order of Chinese construction machinery to date. The Venezuelan government issued a benefit plan of 2 million houses to solve living problems for residents, which required a large number of construction machinery equipment. With comprehensive product lineups, reliable quality and leading manufacturing and service capabilities, XCMG signed the largest export order of 6,025 units of equipment.

Forming strong alliances with relevant government departments, enterprises, financial institutions and organizations has enabled XCMG to build strategic collaboration platforms overseas and provide stronger product and service support, bringing more value and win-wins for all parties.

In the last two years, China Railway Transportation Logistics ("CRTL"), also one of XCMG's global partners, helped to deliver over 1,000 high cube shipping containers with XCMG's machinery products to European countries via the China-Europe Railway Express. Adapted with CargoBeamer's intermodal transport technology, CRTL helps to cut time costs on bogie changing while crossing borders all the way from China to Europe.

Through deepening cooperation, XCMG and its global allies can expand each other's product lines, value chains and global scope by opening up new markets and sharing advantageous resources to create an innovative and sustainable platform for the entire value chain.

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