XCMG Machinery ranks 63rd in China's Most Valuable Brands 2024

XCMG Machinery 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.