The heavy machinery manufacturing company not only participates in cutting-edge technology projects of Chin but also focuses on developing the overseas market along the 'Belt and Road' routes.
According to the announcement from XCMG, the heavy machinery manufacturing company is applying its XR450E rotary drilling rigs on the construction project of the first superhighway in China, the Hangzhou-Shaoxing-Ningbo Super Highway. With 45 ton-meter capacity, XCMG XR450E rotary drilling rigs are key for guaranteeing a successful drilling task.
Hangzhou-Shaoxing-Ningbo Super Highway is a signal engineering project in Zhejiang with an estimated length of 108 miles. The design team plans to build an intelligent cloud-controlled platform and improve 20% to 30% in the speed on the highway. Moreover, the superhighway will be equipped with an automatic driving system, an automatic toll system, and hundreds of fast charging points. The superhighway will be open before the Hangzhou 2022 Asian Games.
Impacted by the COVID-19, XCMG reports CNY 1.02 billion net profit contributing to shareholders for the first three quarters, down 47.8% year-on-year. The company's crane, roller, and grader products all take the largest market share in China. According to the company's announcement, over 65% of export sales are from the markets along the Belt and Road routes. It is expected to have more opportunities from overseas markets in the future.