XCMG Reports 11.75% H1 Revenue Growth

XCMG Machinery reported first-half 2026 revenue of RMB 61.25 billion, approximately USD 9.03 billion, an 11.75% year-on-year increase. Overseas revenue rose 21.03% to RMB 30.92 billion, approximately USD 4.56 billion, exceeding half of total revenue for the first time. The equipment manufacturer also increased research and development investment by 25.07% to RMB 3.30 billion. Its 2026 Half-Year Report points to growth across core machinery, new energy products and intelligent equipment.

Core Equipment Growth

Net profit attributable to shareholders of the parent company totalled RMB 3.96 billion, approximately USD 584 million, while gross margin reached 22.12%, up 0.09 percentage points year-on-year.

Revenue from lifting machinery increased 20.37%, while earthmoving machinery revenue rose 27.80%. XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd. jointly developed the world’s first 14,000-ton ring crane, with the first main unit recently rolling off the production line.

Investment In Intelligent Products

XCMG directed its higher R&D spend towards new energy, intelligent technologies and core components. 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%. Intelligent product revenue in the open-pit mining machinery segment rose 406.49%.

Overseas Manufacturing Expansion

The company now operates more than 60 overseas subsidiaries and established new trading subsidiaries in France and Nigeria during the first half. Its new energy manufacturing base in Indonesia entered production, while its Brazil plant was included in China’s first group of overseas smart factories.

XCMG’s international network includes more than 300 overseas dealers and over 2,000 service and spare parts outlets. Construction of overhaul centres in Indonesia and Simandou, Africa, is progressing as planned, supporting the company’s overseas aftermarket service capabilities.

A Broader Global Footprint

With overseas revenue now representing more than half of total revenue, XCMG’s first-half figures show a business advancing its international manufacturing and service network alongside investment in high-end, new energy and intelligent equipment.