When the XCMG Group's business unit is integrated
Since the beginning of this year, the sales of mainframe machinery for the eight categories of construction machinery industry has dropped by 30% year-on-year, and it has entered the industry downturn that has not been encountered in the past ten years. During this period, the business volume of some of the most powerful foreign brands in the Chinese market has dropped by nearly half.
At the 6th China International Construction Machinery Exhibition, Xu Min, chairman of XCMG, introduced that XCMG firmly implements the "100 billion yuan, internationalization, and world class" strategy. The reporter learned from XCMG that this year XCMG Brazil Sales, XCMG India, XCMG Malaysia, XCMG Guinea, XCMG Russia Moscow, assisted with Brazil, Turkey, Iran, Ethiopia, and other four partners launched SKD assembly. Factory project.
Overseas markets are valued by XCMG. “We hope to achieve international development and deployment in 3 to 5 years. Not only overseas income, but also the comprehensive index of Xugong’s overall internationalization index including overseas income, overseas employees and overseas assets. According to Wang Min, XCMG currently exports over 10,000 sets of construction machinery products to more than 140 countries each year, with total exports reaching US$920 million in the first eight months, an increase of 46% year-on-year.
As for the domestic market, Wang Min believes that although the Chinese market temporarily encounters some trough challenges, its long-term good fundamentals still have very broad and solid foundation support.
Currently, XCMG is further integrating its industries. On November 27, XCMG insiders told the reporter of the First Financial Daily that XCMG is currently advancing the integration of internal resources. “It is to integrate each branch company into a crane division, excavator division, and concrete (including Pump truck) business division and several other major sectors."
Among them, the crane and plate division has considerable size and quality advantages. The resources of the sub-blocks of truck cranes, all-terrain cranes, crawler cranes, tower cranes, and special fire trucks have been fully matched.
It is reported that, while maintaining a stable share of wheeled cranes, the market share of crawler cranes is approaching the top, tower crane business growth is as high as 138%, fire engine business is increasing by 111.2%, and the overall development of cranes is good.
“In the past, the branches were too fragmented, and this could be more specialized.†The source said that the above integration is going according to the plan and it is expected that there will be final conclusions at the end of this year.
It is reported that the above-mentioned integration will not cause the reduction of existing employees. "Not only will not layoffs, on the contrary, Xugong Group will also recruit people."
In addition, in order to strengthen the centralized management of the Group’s funds, XCMG Group has also consolidated its finances and established a financial company. It mainly deals with deposits, loans, receipts and payments, settlement and liquidation, bill acceptance and discounting, etc. of member companies, thereby strengthening the Group’s Centralized management of funds and increased efficiency in the use of funds.
Description:
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Storage:
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