XCMG: nearly 40% of revenue is already overseas, with a goal to cross the halfway mark

徐工集团 / XCMG — one of the world's largest construction and road machinery manufacturers — posted RMB 103.8 billion in revenue for Q1 2026, with nearly 40% of that already coming from overseas markets, according to financial disclosures and industry reviews. The company openly states an "all-around internationalization" strategy aiming to push international revenue above 50% within 2026.

Where XCMG specifically leads

The company holds a dominant position in loader and road-construction machinery exports — categories where Chinese manufacturers have long overtaken many Western competitors on price-to-reliability ratio. Industry observers assess XCMG as having achieved a "dual leap" — simultaneous growth in international revenue and profitability, an uncommon combination for heavy machinery, where expanding into new markets usually temporarily pressures margins through localization and service-network costs.

Infrastructure instead of one-off shipments

The company's strategy rests not just on direct export of finished machinery but on building overseas manufacturing capacity and R&D centers — a fundamentally different level of presence than simply selling a container of machines through a distributor. Local manufacturing cuts logistics costs and customs barriers, while in-house R&D centers let the company adapt equipment to specific market conditions — from climate to local safety standards.

Why this fits a broader picture of Chinese exports

XCMG is one of the clearest examples of a broader trend: Chinese heavy industry is moving from "cheap alternative" status to full global-player status, with local presence, a service network, and growing margins. For anyone who wants to see this manufacturing from the inside — from the assembly floor to the logic of export strategy — that's the point of the China logistics and heavy industry program.

The company's card is available on the GlobalTechTour site.