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| XCMG Auto Secures the Largest Commercial Vehicle Financing Deal in the Past Five Year |
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Posted by: MikePhua - 02-25-2025, 03:49 PM - Forum: Equipment Market News
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On February 25, XCMG Auto held a strategic investment signing ceremony in Xuzhou. With the support of 30 strategic investors, XCMG Auto completed its equity diversification reform and the signing of strategic investors, raising 6.444 billion RMB in financing, setting the largest commercial vehicle financing deal in the past five years.
During the signing ceremony, numerous external investors, including central state-owned enterprises, national-level large funds, provincial and municipal local state-owned enterprises, market-based funds, and industry chain partners, signed agreements on-site, jointly empowering XCMG Auto to deepen state-owned enterprise reforms.
As a "Science and Technology Reform Enterprise" in Jiangsu Province, XCMG Auto's introduction of strategic investors is an important move and key step in deepening its state-owned enterprise reform. It is expected to help improve the company’s governance structure and establish a more market-oriented, law-based, and standardized modern enterprise system.
It is noteworthy that among the investors involved in this round of financing, there are both industry-based shareholders, who can fully leverage strategic synergies and connect upstream and downstream industry chains, as well as financial investors such as central state-owned enterprises and national-level large funds, who can promote the continuous improvement of the company’s lean management from a capital perspective. This will help XCMG Auto achieve higher quality development through more scientific operational capabilities, demonstrating the strong confidence of the capital market in XCMG's reform and development.
In recent years, XCMG Group, as a world-class advanced manufacturing cluster focused on the “1650” modern industrial system in Jiangsu Province and the leading enterprise of the "343" innovation industrial cluster in Xuzhou, has always focused on its main responsibilities and core business. It has continuously deepened reform actions and successfully promoted the mixed-ownership reform and overall restructuring of XCMG Machinery for a public listing. Based on this, the group has vigorously promoted comprehensive reform in XCMG Auto, embarking on a new journey of high-quality, connotative development, becoming a benchmark for state-owned enterprise reform.
“XCMG Auto will leverage the strategic funds introduced this time to further intensify technological and product innovation, achieve more industry-leading breakthroughs in key core technologies, set benchmarks in commercial vehicle performance, and continue to lead the transformation and development of new energy heavy trucks,” said Yang Dongsheng, Party Secretary and Chairman of XCMG Group and XCMG Machinery.
Yang Dongsheng stated that XCMG Group will deepen the implementation of XCMG Auto’s reform, continuously improve corporate governance, strengthen technological innovation, innovate business models, accelerate global expansion, deepen digital transformation, and strengthen the construction of the Party. The group will focus on building a new development pattern of "strategic synergy, industrial integration, and value sharing," and fully build a more dynamic, resilient, and internationally competitive Chinese commercial vehicle leading brand, continuously providing long-term, predictable, high-quality returns to investors.
On the day of the signing event, XCMG Auto also held the 2025 XCMG New Energy Tractor Mass Delivery and 1,000 Units Signing Event. The high-quality product delivery has received widespread recognition from customers and investors, bringing a positive start to the year’s development.
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| Sany joins hands with government to suppress China's second-hand excavator market |
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Posted by: MikePhua - 02-18-2025, 09:37 PM - Forum: Equipment Market News
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With the decline of China's construction industry, the construction machinery industry has also encountered a cold winter.
In the past 40 years, China has produced a large number of excavators. Because the steel body of the excavator is very difficult to wear, old excavators are generally not easy to withdraw from the market. After proper repairs, they can often still work in a brand new posture. Therefore, China's second-hand excavator market is still a very hot market until now.
However, with the downturn in the construction industry, more and more excavator operators and engineering companies plan to sell or have sold their excavators. This makes the Chinese market basically occupied by second-hand excavators.
Sany's new machine sales suffered an unprecedented blow. As a state-owned enterprise, it began to use its political advantages to crack down on second-hand dealers together with the government. They joined the police to interrogate and record second-hand dealers in the way of investigating criminals, in order to intimidate second-hand dealers.
Sany is not the first company to do this. XCMG has already started similar actions. Including but not limited to Alibaba only allows XCMG to operate itself, and does not allow second-hand dealers to participate.
This may be an unprecedented opportunity for overseas buyers, as XCMG and Sany's high-quality excavators may see huge price cuts.
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| How to buy a used excavator? |
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Posted by: MikePhua - 02-11-2025, 06:32 PM - Forum: Operator Talking
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Would you click "place an order" online like buying a mobile phone and then wait for delivery at home? If you have this habit, I hope you won't get into trouble.
There must be some details between the excavators sold online and the ones you actually see, and these details are definitely important.
If you want to buy a satisfactory excavator, it is best to see the machine in person or send a representative to see it on site.
- First, choose a salesperson you like. This is the beginning of everything. In the process of communicating with him, you will understand his professionalism, integrity, ability and personality.
- Then, determine the model you need. Due to the huge amount of information posted online, salespeople generally do not delete the information of sold machines. The salesperson will help you choose a machine of the same type instead of the one you saw online.
- Next, pay a deposit to the company where the salesperson works, and then ask them for an invitation letter to apply for an international visa.
- Next, you can fly to your destination to see and choose the excavator you like with your own eyes. In addition to seeing with your eyes, it is best to drive the machine yourself to feel the condition of the machine. After selecting it, you can also negotiate the price.
- The most important step may be price negotiation. The same machine has different prices in different countries. For example, the price of Sany excavators in the United States is usually 2.5 times that of China.
There is no doubt that China has the world's largest excavator market and has a very competitive price. As you can see, the mobile phone numbers of the salesmen who posted cheap and easy-to-use excavators online all start with +86.
Original excavator or refurbished excavator?
In China, excavator buyers usually choose old machines without any modification, because the age, residual value, value retention and performance of the machine can be estimated from the scars of the excavator.
And the European and American customers and African customers we meet usually choose refurbished excavators, yes, this is good. We will repair the machine to be exactly like a new machine, both in appearance and performance. The price of refurbished excavators will be higher. From another perspective, if you do the same excavator refurbishment in your own country, the cost may be several times higher than that in China.
So, whether you buy a machine in its original state or a refurbished machine, it is a good choice, which depends on whether your salesperson is honest.
If you need to buy a large number of machines, you can try buying one first without telling the salesperson your intention. If he is reliable, you can find him next time. If he only wants to do business once, then you have to change the salesperson.
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