60.218 Billion! XCMG Ranks the First among “China’s 500 Most Valuable Brands

On June 20, 2018, the 15th World Brand Summit and News Release of the China’s 500 Most Valuable Brands was held in Beijing. The World Brand Lab released the analysis report of China’s 500 Most Valuable Brands in 2018. In this annual report based on financial data, brand strength, and consumer behavior analysis, XCMG ranked the 66th place with 60.218 billion yuan, showing an increase of 8.975 billion yuan compared with 51.243 billion yuan in 2017. XCMG ranked first in the industry for the fifth consecutive year since it entered the list.

World Brand Lab is an international and professional brand research institution headquartered in New York, USA. It is a wholly-owned subsidiary of World Entrepreneur Group (iceo.com), the world’s leading strategic consulting firm. Robert Mundell, a professor of Columbia University and winner of the 1999 Nobel Prize in economics, acts as the chairman. Its experts and consultants come from Harvard University, Yale University, Massachusetts Institute of Technology, Oxford University, University of Cambridge and other top universities in the world. It is currently recognized as one of the three major brand value evaluation agencies in the world, and its BVA evaluation model has been consistently promoted by the world management community. Its research results have become an important basis for the evaluation of intangible assets in the M&A process of many companies. The evaluation dimension of brand value includes market share, brand loyalty, and global leadership known by the public.

At the news release, Yang Dongsheng, general manager of XCMG was invited to attend the roundtable with the theme of “How Innovation is Revolutionizing Global Brand” to deeply discuss how to establish and maintain competitive advantage through product innovation and brand building, and find an outlet for revolutionizing global brands under the “Made in China 2025” framework, jointly with Jean-Claude Larreche, chief professor of INSEAD France, Elie Ofek, professor of Marketing Department of Harvard Business School, and Ravi DHAR, professor of Yale School of Management and Stephen Woolgar, professor of Said Business School, Oxford and other professors in the world’s top universities, top brand management, and academic and corporate circles.

Mr. Yang Dongsheng introduced 75 years’ history of XCMG and the brand strength of ranking the 1st in the construction machinery industry in China for 29 consecutive years and currently ranking 6th in the world’s construction machinery industry. Yang Dongsheng frankly stated that in the process of brand building, we have deeply learned that we must make the cold construction machinery products play the greatest value, so that customers like to use XCMG products, and then favor our brand.

On the one hand, product design and development concepts are derived from customers. R&D should be combined with the needs of the market and customers. Products are tailored to customers, transferring from promoting products from the standpoint of the company itself to understanding the needs in product safety, reliability, operating comfort, environmental protection, economy, and product operating efficiency from the customers’ perspective so that the results of product innovation can be perceived by customers for the first time, and customers can always remember the XCMG brand through the use experience and personal experience.

On the other hand, when customers use the products, they are very concerned about whether the company can provide the most efficient service guarantee during the entire life cycle of product, which has spawned a new business model to change the past passive service.

In the era of Internet, products and services are beginning to develop intelligently. XCMG has accelerated the establishment of service outlets and platforms throughout the world to help customers in need based on the life cycle design of products and real-time sensor monitoring of products through industrial Internet, so as to initiatively provide preventive maintenance, repair and other after-sales services, which greatly improves the reliability of products and equipment attendance, and thus enhance the company’s ability to create value for customers.

Enterprises create value for customers, and bring real rewards to the creation and promotion of their own brand value. Brand reputation will become better and better, and customers’ loyalty will also increase. This will enable the company to achieve win-win situation with customers in post-market development.

In early April of this year, “China’s First Excavator” XCMG 700-ton large hydraulic excavator was just off the assembly line, making XCMG the only company in China and the very few companies in the world that can research and manufacture ultra-large-scale open-pit mining machinery and changing the competition pattern of complete sets of large-scale mining equipment in the world.

XCMG replaced Japanese companies to provide hydraulic cylinders of 360-ton excavators for Australia Rio Tinto Co., Ltd. in batch last year. With more than 10,000 hours of working time, it has ranked among the world’s top products in the field. It can be said that XCMG has made significant progress in breaking through the core problems of “hollowing” in equipment manufacturing and greatly enhanced the core connotation of its brand, namely quality, innovation, value, and responsibility.

In recent years, XCMG has actively carried out international production capacity cooperation, improved its global layout, and solidly improved the operation quality of two major internationalized models in Germany and Brazil. The “four-in-one” international team composed of market managers, product managers, business managers and service managers XCMG fosters continuously expands its overseas positions and XCMG’s global market has ushered in an unprecedented golden period. At present, XCMG products have been exported to 179 countries and regions around the world. The total annual export volume has exceeded US$1.6 billion, accounting for more than 30% of the total revenue from overseas, and the export value has remained the industry leader for 29 consecutive years.

While assisting global customers in their successes, XCMG has deeply practiced the responsibility of “XCMG Makes the World Better”. It has implemented 14 types of public welfare projects in five major fields: earthquake relief, educational aids, poverty alleviation, industrial development and environmental protection. In the past 10 years, XCMG has participated in 20 major disaster rescues around the world, deployed 568 large-scale machineries, with a total value of more than 200 million yuan and donated more than 30 million yuan to the disaster-stricken areas. Since 2016, XCMG has built 41 water cellars in Ethiopia to solve the problem of safe drinking water for more than 4,000 local villagers and students.

At present, XCMG’s international pace is still marching steadily toward the world. The goal of XCMG is to maintain doubling export growth, increase international revenue from 30% to 50% within three years, unswervingly create “leading technology, everlasting products” for global customers, cooperate with customers worldwide to achieve win-win, accelerate the construction of high-value and emotional brands, and become a world-class company with global trust, maximizing value creativity, high-end value creativity and unique value creativity and contributing a world-class brand climbing to the top! (www.chinatrucks.com)

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