XMG is one of the world's biggest OEMs by equipment sales. (Photo: XCMG)

This figure is a slight decline from last year when the company reported revenues for 2022 of US$13.4 billion, but the Chinese construction market has suffered a very difficult 2023. 

The OEM also revealed that its international revenue increased 33% in 2023 compared to 2022 to reach CNY37.220 billion yuan (US$5.14 billion). This accounts for approximately 40% of the company鈥檚 total income, the highest this percentage has ever been. XCMG said that it has, 鈥渦nwavering commitment to its internationalization strategy.鈥�

In a press release the company said that 鈥淒espite facing profound changes in both domestic and international competence environments throughout the year鈥� it had achieved double-digit net profit growth while enhancing gross margin and sales net profit margin.

XCMG added that revenues from new energy-related equipment (such as electric-powered equipment) and businesses have doubled for two consecutive years, and now accounts for almost 10% of the company鈥檚 total revenue.

The Chinese OEM added that in 2023 its digital supply chain initiative was recognised as a key industrial internet project in Jiangsu Province, China, adding five provincial industrial internet benchmark factories.

The company achieved level three maturity in intelligent manufacturing capabilities with three enterprises, and both the XCMG Hoisting business unit and XCMG Transmission were newly included in the Ministry of Industry and Information Technology鈥檚 鈥�5G Factory Directory鈥�.

See where XCMG is placed on the Yellow Table, 必赢体育鈥檚 ranking of the world鈥檚 top 50 OEMs by sales, in the next issue of International Construction. .