6.97 billion new shares were listed, and the capital market ushered in the "new XCMG"

　　August 29, 2022, is destined to be an extraordinary day for XCMG.

The listing of 6.97 billion new shares on the same day marks the completion of the overall listing of XCMG Co., Ltd. which lasted nearly one and a half years. The capital market has ushered in the "new XCMG", and the construction machinery industry pattern in China and the world will usher in new changes.

　　In late September 2020, XCMG successfully signed a strategic investment agreement, attracting 21.056 billion yuan, a solid step forward in the reform of mixed ownership.

Adhering to the basic principles and general requirements of XCMG's limited mixed-ownership reform, with the goal of enhancing the comprehensive competitiveness of listed companies and further activating the system and mechanism, after the implementation of XCMG's limited mixed-ownership reform, the overall listing followed closely.

On April 7, 2021, Xugong Machinery (000425) was suspended from trading for planning major asset restructuring.

　　This restructuring injects high-quality assets into the listed company. XCMG's excavation machinery, concrete machinery, mining machinery, tower cranes and other construction machinery production supporting assets are injected into the listed company as a whole. The underlying assets are priced at 38.686 billion yuan, according to the issue price of 5.55 yuan per share Calculated, the number of issued shares is about 6.970 billion shares, all of which are tradable shares with restricted sales conditions. For example, XCMG Jinfan, as an employee shareholding platform, the new shares obtained through this issuance will start from the date of this issuance. Not transferable within 36 months.

After this transaction, all the 2.986 billion shares of XCMG Machinery held by XCMG Co., Ltd. will be cancelled, and XCMG Group will become the controlling shareholder and actual controller of the listed company.

　　After 6.97 billion new shares were listed, the total share capital of the listed company became 11.819 billion shares.

Xugong Co., Ltd. is the main core enterprise of Xugong Group, focusing on the main business of construction machinery and core components. After the overall listing, it can use the financial support of the capital market to further promote business synergy and improve operational efficiency. The listed company will realize the full product of construction machinery. Coverage, the corporate governance structure has been further optimized, and the management and operational efficiency have been further improved, which will help enhance the comprehensive competitiveness and anti-risk capabilities of listed companies, and help the company to accelerate to become a global leader in the construction machinery industry.

XCMG XGT15000-600S, the world's largest tower crane, was delivered offline

　　In fact, after the implementation of XCMG's mixed-ownership reform plan, the vitality of the enterprise has been continuously improved, the flexibility of performance has been gradually released, and the development speed has been significantly improved.

From the perspective of the listed company XCMG, in 2021, the company's total operating income will increase by 14.01% year-on-year, making it the only company among China's construction machinery giants to achieve double-digit growth; net profit attributable to the parent will increase by 50.57% year-on-year against the trend, while other giants is negative growth.

In the first quarter of this year, although affected by the high base in the same period in 2021, the company's revenue and net profit attributable to the parent declined year-on-year, but the decline was much lower than that of other giants, and there has been a significant improvement compared to the fourth quarter of 2021. Revenue and net profit The average month-on-month growth was nearly 40%, showing strong resilience.

In particular, the net profit margin of sales has increased rapidly, rising to 6.70% in 2021 and 7.07% in the first quarter of this year. The operating efficiency continues to improve.

　　Analysts believe that in the long run, XCMG Limited has completed the mixed-ownership reform, and the employee stock ownership platform will increase its capital by 870 million yuan. After the restructuring, the vitality will be released, management will be improved, and product structure will be optimized, and the profitability of "New XCMG" will continue to improve.

　　"XCMG has a growth principle, that is, when others go down, I can't go down; when others go up, I can go up faster. The most important thing is that if you go up, you can't go down." said Wang Min, chairman of XCMG Co., Ltd., chairman of XCMG Machinery, and secretary of the party committee. Now XCMG is in an era of drastic changes in the world construction machinery market.