XCMG and National Manufacturing Fund signed a strategic cooperation agreement

Date:2022-07-14 Author:Alice Source:www.chinaspv.com

July 14, 2022, Xuzhou, China, Recently, XCMG signed a strategic framework agreement with the National Manufacturing Transformation and Upgrade Fund (hereinafter referred to as National Manufacturing Fund).

According to the agreement, the two parties will carry out extensive strategic cooperation in the fields of core components, high-end manufacturing equipment, new energy, intelligence and networking, focusing on the strategic layout of XCMG.

As early as September 2020, as one of the 12 strategic investors, the National Manufacturing Fund actively promoted and participated in the mixed reform of XCMG with a large amount of 958 million yuan. This strategic cooperation marks that the cooperation between the two parties will enter an in-depth stage after the mixed-ownership reform and overall listing.

We believe that the National Manufacturing Fund will further provide XCMG with strategic resource support such as industrial chain coordination, market channels, policy coordination, and follow-up financing, and enhance XCMG's competitiveness as a leading construction machinery enterprise.

According to the strategic cooperation agreement, the two parties are actively discussing about joint foreign investment, mergers and acquisitions in the fields of construction machinery, mining machinery, special purpose vehicles and core components, and jointly seek opportunities for cooperation in new technologies such as digitalization, unmanned driving and electrification.

The signing of this strategic cooperation agreement will undoubtedly further promote the in-depth cooperation between the National Manufacturing Fund and XCMG in the investment layout of core components, new energy, high-end equipment and other fields, and give play to their respective advantages in the future to jointly promote the development of industrial chain short-board links such as complete machine products, core components and other fields.