XCMG Machinery Publishes 2024 ESG Report: Pioneering Sustainable Innovation in Global Construction Machinery Industry Development
PR Newswire
XUZHOU, China, May 14, 2025
New Energy Leadership, Digital Transformation, and Global Partnerships Towards Carbon Neutrality Goals
XUZHOU, China, May 14, 2025 PRNewswire/-- XCMG Machinery ("XCMG", SHE: 000425) has officially released its 2024 Environmental, Social, and Governance (ESG) report, particularly highlighting the group's achievements in sustainable practices aligned to global climate goals as well as breakthroughs in clean technologies, digital intelligence, and ethical governance, which positions XCMG as a catalyst of green industrial transformation.
"In 2024, we achieved more stable operational quality and improved profitability, vigorously advanced sustainable practices and new energy product development, strengthened our technological innovation and capabilities and global development, and made significant strides towards establishing a world-class enterprise underscoring our philosophy of 'progress amid stability,'" noted Yang Dongsheng, CEO and Chairman of XCMG Machinery.
Globally XCMG dominates in lifting equipment, foundation machinery, specialized vehicles, earthmoving, and loaders. The Company expands partnerships with 95 percent market coverage under the Belt and Road Initiative with localized procurement strategies enhancing resilience.
Advancing Green Manufacturing Towards Dual Carbon Goals
Committed to advancing green manufacturing transformation and upgrading products and operations to meet the carbon peaking and carbon neutrality goals, XCMG has implemented a broad range of initiatives aimed at reducing pollution, lowering carbon emissions, conserving resources and promoting recycling, leveraging technological and digital capabilities, financial strategies and cultural initiatives.
In 2024, clean energy accounted for 13.63 percent of XCMG's energy consumption, and Scope 1 greenhouse gas emissions have been reduced by 102,363 tons. The digital carbon footprint management platform of XCMG covers 114 core components. In 2024, it launched 21 new energy product lines, including electric excavators, hydrogen-powered mining trucks, and hybrid cranes, and achieved 10.88 billion yuan (USD 1.508 billion) in sales revenue from new energy products.
In addition, XCMG invested 46.34 million yuan (USD 6.42 million) in environmental initiatives. Leveraging a robust big data analysis model for energy consumption, XCMG has developed targeted strategies for energy conservation and carbon reduction across three primary energy sources: electricity, steam, and natural gas, driving a comprehensive transformation in energy management and steering the industry towards an era characterized by digitalization and intelligence. It has developed an energy and carbon control platform integrating cutting-edge cloud computing, big data, and IoT technologies to support a wide array of functions poised to facilitate seamless collection of energy consumption data via intelligent devices.
Accelerating Digital and Intelligent Transformation as Industry Benchmark
XCMG is consistently recognized as a national benchmark for smart manufacturing. In 2024, it achieved Level 4 Smart Manufacturing Capability Maturity and Level 3 Data Management Capability Maturity.
Additionally, last year, XCMG Crawler and XCMG Fudi were included in the China 2024 5G Factory Directory, while XCMG Heavy Machinery was listed in both China's First Batch of Excellence-Level Smart Factories and Industrial Internet Pilot Demonstration Projects.
Boosting Social Impact and Community Engagement
Throughout 2024, XCMG conducted diverse ESG assessments with its suppliers and integrated ISO 14001 and SA8000 standards into procurement processes. It launched a low-carbon training initiative that allows the Company to conduct over 20 comprehensive training sessions for its suppliers globally.
Meanwhile, XCMG has boosted investment in public welfare initiatives encompassing education, poverty alleviation and disaster relief.
It also substantially enhanced the talent development system to provide employees with broader career advancement and personal growth opportunities. Last year, XCMG invested 2.04 million yuan (USD 282,664) in employee welfare programs, trained 7,619 R&D professionals, and promoted gender inclusivity, with two female directors on the Board.
Please visit http://static.cninfo.com.cn/finalpage/2025-04-29/1223367772.PDF for the Report.
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