XUZHOU, China, July 12,
2024 /PRNewswire – XCMG Machinery (SHE: 000425,
"XCMG") has secured the 63rd position in the "China's 500 Most Valuable Brands 2024" by
World Brand Lab, with a brand value of CNY
127.136 billion (USD $17.474
billion). This achievement marks its eleventh consecutive
year at the top of the construction machinery sector, reflecting
its sustained leadership and innovative strategies.
The ranking by World Brand Lab is based on comprehensive
analysis, including consumer research, competitive analysis, and
forecasts of future corporate revenue. Adjusted annual business
revenue, brand added-value index, and brand strength coefficient
are key metrics used in this evaluation. Celebrating its 21st year
of reporting in 2024, the entry threshold has risen from
CNY 500 million to CNY 38.26 billion since inception.
Dr. Steve Woolgar, Chairman of
the Academic Committee of World Brand Lab and Emeritus Professor of
Marketing at University of Oxford,
said, "Over the past 20 years, I have witnessed the remarkable rise
of Chinese brands, some of which have already had a strong global
influence."
XCMG Machinery exemplifies this trend with operations extending
to over 190 countries and regions along the Belt and Road
initiative routes. The company boasts more than six million
followers on social media, showcasing a dynamic branding style
frequently featured at major international events.
The World Brand Lab assesses brand loyalty through the use of
iTrust Rating's evaluation data. It gauges brand leadership,
notably in ESG (Environmental, Social, and Governance) aspects, by
referencing the ESG database of SuperFinance. Furthermore, it
leverages carbon emission evaluations by Carboncare International
to push for the implementation of a "carbon emission score" label
on brands.
In terms of sustainability measures taken by XCMG Machinery as
part of their commitment to environmental stewardship:
- In 2022, the Company launched an PoA for peak carbon and
carbon neutrality, outlining and detailing planning, implementation
and actual safeguard measures of sustainable transformation
paths.
- In 2023 alone, new energy usage accounted for approximately
19.64%.
- Charging stations provided about 804906.89 kWh to external
users.
- Reductions included wastewater by approximately 86,207.25 tons
and waste gas emissions by around 16,599,903 cubic meters.
- Compliance with hazardous waste treatment reached 100%.
To further promote sustainable business practices
globally, XCMG released its Environmental Social Governance
Report for 2023.
Where more detailed information can be learned at
https://www.xcmgglobal.com/.
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SOURCE XCMG Machinery