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    000425   CNE000000FH0

XCMG CONSTRUCTION MACHINERY CO., LTD.

(000425)
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XCMG Construction Machinery : Makes Debut at MINExpo 2021, Announces Plans to Open Service Center in Southeastern Region of United States

09/16/2021 | 09:34am EDT

LAS VEGAS, Sept. 16, 2021 /CNW/ -- XCMG ("the Company", 000425.SZ) made its debut at MINExpo 2021 on September 13 in Las Vegas and released three all-new products customized for the American market. To further expand its scope of mining machinery services in the North American market, XCMG also announced plans to establish a new service center in Florida to cover the U.S. southeastern region during the world's largest mining event.

"The exhibition at MINExpo 2021 brought us valuable opportunities for communication and exchanges with our partners in the North American market. XCMG North America was officially founded in 2015 and we now have three office locations in Minneapolis, Las Vegas and Houston, two spare parts warehouses and service centers in Las Vegas and Houston, and more than 20 local employees," said Xie Bin, CEO of XCMG North America Corp.

XCMG will further strengthen its overall service capacity in the country:

  • XCMG plans to complete the coverage of spare parts service support in western and central eastern regions of the U.S., increasing spare parts support.
  • XCMG North America will continue to build localized after-sales service teams and has signed a service agreement with US based service company to support main models.  With this partnership team, XCMG aims to provide technical support and a three-in-one after-sales service guarantee system in the U.S.
  • XCMG will also take advantage of Schwing America to bolster local technical support and spare parts service assurance.

XCMG has established the North America R&D Center in Chicago to coordinate local product R&D. The Company now sells excavators, rollers, graders, loaders, cranes, and aerial work platform products in the U.S. and through continuous efforts, its products have been widely recognized by local customers. Additionally, XCMG is cooperating with leading rental companies in the U.S. to provide extensive services.

In 2015, XCMG signed a three-year contract with a leading U.S. rental company, to deliver nearly 1,000 units of equipment which has almost been completed. The customer spoke highly of XCMG's products, localized services and spare parts supply and they have also provided localization improvement suggestions that further improve the performance of XCMG products.

For more information, please visit www.xcmg.com.

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View original content to download multimedia:https://www.prnewswire.com/news-releases/xcmg-makes-debut-at-minexpo-2021-announces-plans-to-open-service-center-in-southeastern-region-of-united-states-301378743.html

SOURCE XCMG

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 86 392 M 13 489 M 13 489 M
Net income 2021 5 537 M 864 M 864 M
Net cash 2021 10 877 M 1 698 M 1 698 M
P/E ratio 2021 8,84x
Yield 2021 2,27%
Capitalization 48 882 M 7 603 M 7 632 M
EV / Sales 2021 0,44x
EV / Sales 2022 0,45x
Nbr of Employees -
Free-Float 49,2%
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Number of Analysts 9
Last Close Price 6,24 CNY
Average target price 7,36 CNY
Spread / Average Target 17,9%
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Managers and Directors
Chuan Lu President & Director
Jiang Long Wu Chief Financial Officer, Director & Vice President
Min Wang Chairman
Ge Li Chairman-Supervisory Board
Ai Mei Lin Independent Director