XCMG Auto raises 6.444billion, a new industry record！
XCMG Auto has introduced 30 strategic investors
On February 25, the signing ceremony for XCMG Auto's strategic investors was successfully held in Xuzhou, Jiangsu. With the support of these 30 strategic investors, XCMG Auto has completed its equity diversification reform and the introduction of strategic investors through the signing ceremony. The financing amount of 6.444 billion yuan has set a record as the largest deal in the national commercial vehicle financing sector in the past five years.
This milestone move marks a solid step forward for XCMG Auto on the path of mixed - ownership reform and ushers in a new era of growth and opportunity. This mixed - ownership reform of XCMG Auto is also another strategically significant and symbolic major reform following the mixed - ownership reform of XCMG Limited.
Capital Empowerment
Diverse Forces Work Together to Build a New Pattern of Mixed - Ownership Reform
As a "science - reform enterprise" in Jiangsu Province, XCMG Auto's introduction of strategic investors is an important measure and a key link in deepening state - owned enterprise reform. It can make the corporate governance structure more perfect and establish a more market - oriented, law - based, and standardized modern enterprise system.
Before the signing event, Song Lewei met with some representatives of the strategic investors and expressed his gratitude for their support and attention to the reform and development of XCMG Auto. He stated that XCMG Group is the "leading enterprise" in Xuzhou's number one industry of engineering machinery, and XCMG Auto is a strategic sector that XCMG Group is focusing on cultivating and developing. XCMG Group should take this opportunity to optimize its industrial layout, promote technological innovation, and seize the future market. It will achieve value resonance, cultural resonance, and model co - creation with strategic partners, and work hand in hand to contribute to the high - quality development of China's engineering machinery industry.
Striving for Innovation
Setting New Industry Benchmarks in the New Energy Sector
In recent years, XCMG Group, as a leading enterprise in the world - class advanced manufacturing cluster focused on by Jiangsu Province's "1650" modern industrial system and the "number one industry" chain main enterprise of Xuzhou City's "343" innovation industrial cluster, has always focused on its main responsibilities and business, continuously deepened reform measures, and successfully promoted XCMG's mixed - ownership reform and the overall listing of engineering machinery restructuring. On this basis, we have vigorously promoted the comprehensive reform of XCMG Auto, embarking on a new journey of connotative high - quality development and becoming a benchmark for state - owned enterprise reform.
"XCMG Auto will utilize the strategic funds introduced this time to further increase technological innovation and product innovation, achieve more industry - leading breakthroughs in key core technologies, create a benchmark for commercial vehicle performance, and continue to lead the transformation and development of new energy heavy - duty trucks," said Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery, and Secretary of the Party Committee.
XCMG Auto was established in 2008, bearing the "automobile dream" of XCMG Group, and has emerged as a prominent player in China's commercial vehicle industry at an astonishing speed. From the rollout of the first Hanfeng heavy - duty truck to the strong lead in the new energy heavy - duty truck sector, XCMG Auto has completed a magnificent transformation from an industry newcomer to a leader in just 17 years.
