Fortune Global 500 Company XCMG Visits Eagle Drive Technology for Inspection and Tour
Fortune Global 500 Company XCMG Visits Eagle Drive Technology for Inspection and Tour
On April 23, 2021, XCMG, a Fortune Global 500 company, ranked first in China's construction machinery industry and fourth globally, visited Eagle Drive Technology. Led by General Manager Chen of XCMG Automotive, the delegation conducted an on-site inspection focusing on the research and development of vehicle-to-vehicle internet safety driving assistance systems.
Eagle Drive Technology's Chairman Mr. Zheng, R&D Director Manager Dai, Engineering Director Manager Chen, and Marketing Director Manager Fan all participated in the aforementioned exchange activities.
During the visit, Chairman Zheng introduced General Manager Chen and his team to the company's development scale, product production environment, and applications in various scenarios. They toured the production floor to understand our product manufacturing process in detail, thoroughly examining each workshop's operational procedures. Additionally, they engaged in in-depth discussions with our technical and marketing staff regarding issues related to the vehicle-to-vehicle internet safety driving assistance system.
In recent years, leveraging its advanced R&D technology and manufacturing capabilities, the company has received numerous accolades, including the National Science and Technology Progress Award (Second Prize), the China Machinery Industry Science and Technology Award (First and Second Prizes), the Top 50 Product of the Year Gold Finger Award in the China Construction Machinery Industry, the National Customer Satisfaction Service Award, the Jiangsu Famous Brand Product, and the Jiangsu Provincial Enterprise Management Modernization Innovation Achievement Award (Second Prize). Adhering to the "people-oriented" employment philosophy, the company boasts strong R&D capabilities, a comprehensive marketing network, advanced manufacturing equipment, robust economic strength, and a favorable working environment. We warmly welcome you to join us in building a world-class enterprise with strong international competitiveness.
Xuzhou Construction Machinery Group Co., Ltd. (XCMG) was established in 1989 and has consistently maintained its leading position in China's construction machinery industry. Currently, it ranks first in China's construction machinery industry and fourth in the global construction machinery industry.
In 2018 and 2019, XCMG's revenue exceeded 100 billion RMB consecutively. In 2020, its revenue reached 150 billion RMB. XCMG's excavators, concrete machinery, and other large equipment have repeatedly held the top spot in China. According to the latest data, in 2020, XCMG's excavator sales revenue maintained the top spot in the domestic market for the tenth consecutive year, with significant market share growth across all series of large, medium, and small excavators. The production of excavators exceeded 90,000 units, ranking first globally.
Additionally, XCMG Group is undergoing financial restructuring to achieve an overall public listing. This move represents XCMG's commitment to deepening the reform of the state-owned enterprise system. Leveraging the complete and robust governance mechanisms of a listed company and the effective support of the capital market, the company's profitability is expected to further increase in the future.
It is worth mentioning that this aligns with the new round of the three-year action plan for state-owned enterprise reform for 2020-2022, introduced by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council at a policy briefing on October 12th last year. The plan emphasizes "continuously expanding the scope and field of mixed-ownership reform" and "deepening cooperation with private and small and medium-sized enterprises in the industrial and supply chains to create a mutually integrated and jointly developing situation." This demonstrates XCMG Group's strategy to leverage the capital market to enhance the influence and driving force of state-owned assets and enterprises.
Since its establishment, Eagle Drive Technology has been dedicated to the research and development of vehicle-to-vehicle internet safety driving assistance systems. The company has accumulated extensive R&D experience and data in areas such as onboard sensing equipment, computer vision, big data, and deep learning. Currently, Eagle Drive's products are sold in over 6 countries worldwide and in more than 50 cities across China, providing relevant technical expertise and mature implementation solutions for intelligent driving in various commercial vehicles. This has created valuable commercial vehicle scenarios with industrialization potential and has gained recognition from many relevant departments. In the future, Eagle Drive will continue to innovate and develop new products, establish a comprehensive intelligent connected vehicle safety driving data analysis platform, and advance the industrialization of vehicle-to-vehicle internet driving systems, striving to create a new era of intelligent vehicle networking.