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SHANGHAI, May 16, 2025 /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), through its operating subsidiaries, is a vehicle sourcing services provider with a vision to becoming a comprehensive electric vehicle (EV) battery power solution provider in China, today announces that, on May 15, 2025, the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 ("Form 20-F"), with the U.S. Securities and Exchange Commission (the "SEC"). 2024 Financial Highlights The Company achieved revenue growth of 124% year-over-year in fiscal 2024 to RMB44.29 million (US$6.16 million). Net profit margin improved from -248% to -130%, reflecting enhanced operational efficiency and progress toward profitability. Debt-to-asset ratio decreased from 19.7% to 16.7% as of December 31, 2024, reflecting a reduced reliance on external financing. This improvement strengthens Company's financial stability and enhances flexibility for future strategic initiatives. "In fiscal year 2024, U Power achieved 124% year-over-year revenue expansion," said Mr. Jia Li, Chairman and Chief Executive Officer of U Power Limited. "During the year, we forged strategic partnerships in Thailand, Portugal, Hong Kong (China), Peru, and Mexico. We believe these collaborations will catalyze global EV adoption and position U Power as a provider of scalable, reliable battery-swapping solutions. Looking ahead, we expect to accelerate our international rollout of our UOTTA™ battery-swapping platform." "Supported by our financial discipline and growing international footprint, we remain confident in our path to profitability and long-term value creation for shareholders," added Ms. Bingyi Zhao, Chief Financial Officer of U Power Limited. Annual Report U Power's Form 20-F is available on the SEC's website at www.sec.gov or on the Company's investor relations website at https://ir.upincar.com. Shareholders may also request a free hard copy of the Form 20-F, which includes the Company's complete audited financial statements, by contacting the Company at the address provided below. About U Power Limited U Power Limited, through its operating subsidiaries in China, is a vehicle sourcing services provider, with a vision to becoming a key player in the EV market, primarily focused on its proprietary battery-swapping technology, or UOTTA technology, which is an intelligent modular battery-swapping technology designed to provide a comprehensive battery power solution for EVs. Since beginning its operations in 2013, the Company has established a vehicle sourcing network in China's lower-tier cities. The Company has developed multiple types of battery-swapping stations for compatible EVs and currently operates one manufacturing factory in Zibo City, Shandong Province, China. For more information, please visit the Company's website: https://www.upower-limited.com/ Safe Harbor Statements This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Contact U Power Limited Investor Relations Department Email: ir@upincar.com
Profitability Roadmap: Efficiency and Discipline SHANGHAI, May 16, 2025 /PRNewswire/ -- Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ: AIXI), a global leader in artificial intelligence solutions, today announced selected audited financial results for the year 2024, highlighting approximately $70.31 million in revenue, representing a 18.8% year-over-year growth, a gross profit margin (GPM) improvement of 2 percentage points, and a significant narrowing of net loss to $14.55 million. These results position the Company to achieve profitability in 2025. Key Financial Highlights - Revenue Growth: revenue for 2024 reached approximately $70.31 million, up 18.8% year-over-year, driven by surging demand for its Hua Zang LLM - powered Model-as-a-Service (MaaS) solutions and breakthrough AI hardware sales. - Gross Profit: Gross profit increased from $39,423,570 in 2023 to $48,049,547 in 2024, representing a growth rate of approximately 21.9%. - Margin Expansion: Gross profit margin improved to 68.3%, compared to 66.6% in 2023, reflecting operational leverage from MaaS commercialization and cost-optimized deployment. - R&D Expenses: Research and development expenses totaled $34.66 million, down from $52.39 million in 2023. The 33.8% reduction reflects improved efficiency and the productization of core technologies. - Net Loss Reduction: Net loss narrowed significantly to $14.55 million in 2024, down 46.1% from $27.01 million in 2023, underscoring disciplined cost management and revenue scalability. Material Unfinished Matters During the fiscal year 2024, Xiao-I Corporation pursued legal proceedings against Apple Inc. regarding alleged patent infringement. Key developments in the case include: July 31, 2024: The trial phase of the lawsuit concluded. September 24, 2024: The Shanghai High People's Court held a hearing session, attended by legal representatives from both parties. November 1, 2024: The Shanghai High People's Court held a second hearing session. As of the date of this release, all legal processes have been completed, with all parties awaiting the court's final ruling. Management Comment "2024 marks our evolution into a mature AI-driven growth company, powered by the Hua Zang LLM foundation. Going forward, while advancing profitability through hardware innovations like AI Glasses and tAIkbox, we confront material risks requiring vigilant management. Geopolitical fragmentation—particularly US-China technology decoupling—impacts hardware procurement cycles and cross-border service deployments. Also, multi-tier supply chain resilience remains critical for AI hardware scaling, with regional conflicts posing potential component shortages. With 90% domestic operational anchoring, MaaS model's tariff-agnostic nature provides partial insulation, while AI-driven G&A optimization below 15% of revenue enhances risk absorption capacity. Management remains committed to disciplined execution across these vectors to achieve 2025 profitability targets." About Xiao-I Corporation Xiao-I Corporation is a leading cognitive intelligence enterprise in China that offers a diverse range of business solutions and services in artificial intelligence, covering natural language processing, voice and image recognition, machine learning, and affective computing. Since its inception in 2001, the Company has developed an extensive portfolio of cognitive intelligence technologies that are highly suitable and have been applied to a wide variety of business cases. Xiao-I powers its cognitive intelligence products and services with its cutting-edge, proprietary AI technologies to enable and promote industrial digitization, intelligent upgrading, and transformation. For more information, please visit: www.xiaoi.com. Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions in China, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, including under the section entitled "Risk Factors" in its annual report on Form 20-F filed with the SEC on May 15, 2025, as well as its current reports on Form 6-K and other filings, all of which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For investor and media inquiries, please contact:Ms. Berry XiaEmail: ir@xiaoi.com XIAO-I CORPORATION CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for share and per share data, or otherwise noted) As of December 31, 2023 2024 Assets Current assets: Cash and cash equivalents $ 1,564,542 $ 846,593 Restricted cash 20,676 - Accounts receivable, net 28,326,985 55,543,017 Amounts due from related parties, current - 13,587,536 Inventories 67,826 14,362 Contract costs 1,691,293 2,502,678 Advance to suppliers 1,149,642 3,205,098 Prepaid expenses and other current assets, net 5,233,553 792,732 Total current assets 38,054,517 76,492,016 Non-current assets: Property and equipment, net 2,125,629 1,867,736 Intangible assets, net 212,445 143,370 Long-term investments 2,650,458 2,497,594 Right of use assets 2,431,475 833,030 Prepaid expenses and other non-current assets 7,000,357 3,677,728 Amount due from related parties, non-current 13,859,350 - Total non-current assets 28,279,714 9,019,458 TOTAL ASSETS $ 66,334,231 $ 85,511,474 Liabilities Current liabilities: Short-term borrowings $ 26,760,940 $ 32,879,865 Accounts payable 13,674,339 27,131,439 Amount due to related parties, current 704,947 217,068 Deferred revenue 1,654,145 2,385,228 Convertible loans - 216,756 Accrued expenses and other current liabilities 13,938,253 23,289,453 Lease liabilities, current 929,755 483,658 Total current liabilities 57,662,379 86,603,467 Non-current liabilities: Amount due to related parties, non-current 7,905,290 7,336,833 Accrued liabilities, non-current 7,759,474 7,043,185 Lease liabilities, non-current 1,473,950 295,962 Total non-current liabilities 17,138,714 14,675,980 TOTAL LIABILITIES 74,801,093 101,279,447 Commitments and Contingencies - - Shareholders' deficit Ordinary shares (par value of $0.00005 per share; 1,000,000,000 shares and 1,000,000,000 shares authorized as of December 31, 2023 and 2024, respectively; 24,015,592 shares and 31,949,038 shares issued and outstanding as of December 31, 2023 and 2024, respectively) $ 1,201 $ 1,598 Preferred shares (par value of $0.00005 per share; 3,700,000 preferred shares authorized as of December 31, 2023 and 2024, respectively; 3,700,000 preferred shares issued and outstanding as of December 31, 2023 and 2024, respectively) 185 185 Additional paid-in capital 108,729,047 115,745,140 Statutory reserve 237,486 237,486 Accumulated deficit (110,833,045) (125,338,509) Accumulated other comprehensive loss (2,998,562) (2,848,314) XIAO-I CORPORATION shareholders' deficit (4,863,688) (12,202,414) Non-controlling interests (3,603,174) (3,565,559) Total shareholders' deficit (8,466,862) (15,767,973) TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 66,334,231 $ 85,511,474 XIAO-I CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In U.S. dollars, except for share and per share data, or otherwise noted) For the years ended December 31, 2022 2023 2024 Sale of software products $ 3,547,113 $ 1,566,455 $ 1,516,169 Sale of hardware products 46,295 75,363 1,395,345 Technology development service 16,419,889 7,839,700 24,105,644 M&S service 2,429,526 2,676,185 2,419,901 Sale of cloud platform products 25,742,135 47,007,556 40,877,256 Net revenues 48,184,958 59,165,259 70,314,315 Cost of sale of software products (888,220) (834,570) (98,442) Cost of sale of hardware products (25,141) (51,201) (583,939) Cost of technology development service (12,194,044) (6,059,330) (10,444,827) Cost of M&S service (1,255,973) (971,417) (781,258) Cost of sale of cloud platform products (3,015,766) (11,825,171) (10,356,302) Cost of revenues (17,379,144) (19,741,689) (22,264,768) Gross profit 30,805,814 39,423,570 48,049,547 Operating expenses: Selling expenses (3,911,818) (4,550,997) (3,320,886) General and administrative expenses (6,028,637) (4,407,215) (22,940,916) Research and development expenses (24,001,138) (52,387,540) (34,658,779) Total operating expenses (33,941,593) (61,345,752) (60,920,581) Loss from operations (3,135,779) (21,922,182) (12,871,034) Other income/(expenses): Investment (loss)/income (143,181) 75,542 (81,618) Interest expenses, net (2,440,815) (2,323,341) (2,319,820) Foreign currency exchange (loss)/gain (68,902) 2,789 3,864 Other income, net 444,018 949,116 717,280 Total other expenses (2,208,880) (1,295,894) (1,680,294) Loss before income tax expense (5,344,659) (23,218,076) (14,551,328) Income tax expense (660,655) (3,787,692) - Net loss $ (6,005,314) $ (27,005,768) $ (14,551,328) Net loss attributable to non-controlling interests (106,779) (543,961) (45,864) Net loss attributable to XIAO-I CORPORATIONshareholders (5,898,535) (26,461,807) (14,505,464) Other comprehensive income Foreign currency translation change, net of nil income taxes 403,816 303,114 233,727 Total other comprehensive income 403,816 303,114 233,727 Total comprehensive loss $ (5,601,498) $ (26,702,654) $ (14,317,601) Total comprehensive income/(loss) attributable to non- controlling interests 95,280 (504,951) 37,615 Total comprehensive loss attributable to XIAO-I CORPORATION shareholders (5,696,778) (26,197,703) (14,355,216) Loss per ordinary share attributable to XIAO-I CORPORATION shareholders Basic (0.27) (1.12) (0.56) Diluted (0.27) (1.12) (0.56) Weighted average number of ordinary sharesoutstanding Basic 22,115,592 23,646,003 25,760,207 Diluted 22,115,592 23,646,003 25,760,207
HAIKOU, China, May 15, 2025 /PRNewswire/ -- JX Luxventure Group Inc. (Nasdaq: JXG) (the "Company"), a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products, today announced financial results for the fiscal year ended December 31, 2024. Financial Highlights for the full year ended December 31, 2024: Revenue: The Company reported revenue of $49,840,288, an increase of $17,999,700 from $31,840,588 in 2023, representing a significant year-over-year growth of 57%. Profit: Gross profit reached $8,352,316, up $2,895,947 from $5,456,369 in 2023, reflecting a robust year-over-year increase of 53%. Net profit was $3,073,807, a modest increase of $30,028 from $3,043,779 in 2023, marking a year-over-year growth of 1%. Ms. Sun "Ice" Lei, Chief Executive Officer of the Company commented: "Our 2024 financial results demonstrate the strength and foresight of our three-year turnaround strategy, launched in 2020. This year's strong performance, driven by significant revenue and gross profit growth, highlights our team's dedication to operational excellence and strategic market expansion. Achieving a net profit of $3.07 million reflects our ability to sustain profitability while navigating the dynamic wholesale trade and tourism sectors with financial discipline. Looking ahead, we are poised to capitalize on this momentum, continuing to innovate and expand our global presence. Our team is committed to delivering transformative growth while maintaining profitability, and we are confident in our strategy to drive long-term value for our stakeholders in the years to come." About JX Luxventure Group Inc. Headquartered in Haikou, China, JX Luxventure Group Inc. is a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products. To learn more about the Company, please visit its corporate website at https://www.jxluxventure.com/en/. Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of JX Luxventure Group Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
本文由OPEN編輯部撰寫 MUSE Design Awards由歷史悠久的國際獎項協會International Awards Associates（IAA）主辦，以發掘全球設計繆思為宗旨，為建築、室內、時尚等領域提供全面的發光舞台，每年嚴格的評分標準，吸引國際知名品牌與設計師爭相參與。 2024年MUSE Design Awards下半季共收到來自一百一十八個國家、超過十萬份的參賽作品，並由逾兩百位專業評審進行遴選，可謂最具影響力的國際獎項之一，而IAA發言人Thomas Brandt指出，「於2024年MUSE大賽勝出的獲獎作品，其精緻程度與作品的完成度及深度，皆象徵著創意及設計行業的最佳表現。」他補充說：「IAA讚揚所有參賽者對工藝的奉獻，並希望他們不斷用熱情進一步擴大創造力和設計的極限。」 達譽設計團隊 將黑、白、灰三色精妙調配，結合流雲石紋與線燈佈局，打造兼具寧靜與時尚的現代宅邸《岩墨映照》；同為家宅作品《和光．同塵》則揉合米白與淺灰，透過開闊格局與自然採光，創造如詩如畫的休憩天地，讓居者遠離繁囂，沉浸於家的純粹與舒適。兩案分別摘下本屆賽事的「金獎」及「銀獎」殊榮，彰顯團隊的非凡實力與獨到美學！ 達譽設計 公司簡介達譽，出自Dear You，為親愛的你們，打造處處皆美景的生活，成就如同藝術品般的「家」。 達譽設計，2011年創立於新竹，2018年拓展台中據點，成立迄今14年，完成300件以上設計規劃案，服務範圍涵蓋客變、商空，舊屋翻新和居家風格營造。 我們的團隊滿蘊活力與恆心，珍視自律、合作與開拓精神，並懷抱真摯關懷的心意，傾聽使用者理想並進行溝通，集結互動、共識及信任，以專業知識結合美感素養，詮釋融入日常習慣及個人品味的專屬設計，實現屋主的期許與寄託，構築見證溫暖日常的雋永空間。 設計理念「『家』不僅是一間房子，而是供人居住的溫馨港灣。」 希望每一份設計都擁有溫度，為客戶攜來飽含深度及厚度的空間體驗，持續的往來交流，是為碰觸使用者心中最深處的悸動，謹慎對待需求，發掘場地優勢融匯便利機能；鼓勵大膽嘗試，使人們享受創新構想展現的魅力，完美具現居者嚮往生活的場景，讓達譽的傾心之作長伴身側，成為專屬於親愛的你的禮物。 獲獎紀錄2024英國 Outstanding Property Award London《岩墨映照》- Winner英國 London International Creative Competition《岩墨映照》- Official Selection美國 International Design Awards《織墨》- Honorable Mention台灣 華人金創獎《織墨》-入圍獎 金獎作品《岩墨映照》 ▲客廳天壁刷塗白漆並設置環狀燈具，以淨白色與圓形元素為空間傾注柔和帶有活潑的氣息，電視牆鏝抹淺灰塗料搭配俐落木質平台，旁側設有懸浮鐵件置物櫃收納影音設備，藉明練簡約的佈局，詮釋揉合溫度的時尚韻味。 ▲書房窗畔設有榻台，供業主坐臥觀景或閱讀、辦公，書桌的紅色造型側板提升工作區的亮度與色彩感，後方的開放展示櫃則替屋主未來藏品預留擺放位置，櫃內及天壁皆排佈線燈，沉穩陪伴日後的作業時光。 ▲薄板石紋餐桌配置非對稱餐桌椅，上方純黑層板裝設直排嵌燈、線燈提升亮度，鄰側中島台身選用淺灰色洗石子圖樣，配合白色台面且呼應玄關立壁，為整體區域挹注活潑輕盈的語彙。 銀獎作品《和光．同塵》 ▲玄關以俐落的線條感做為重要開場，搭配簡潔純淨的調性，喻示家屋整體風格。進門右側為建物既有柱體，以藝術漆面紋理結合收納、穿鞋機能，將其轉化為設計亮點，讓梁柱成為加分效果，亦增添視覺層次性。 ▲客廳大面落地窗引光入室，讓身心舒緩安放，撫平日常累積的疲憊。純淨基底下，家具軟裝選以大膽用色，提升視覺層次對比。地坪鋪設與牆面塗料相偕的質感磚材，在不掩漆料風采同時，也能凸顯其紋理，平立面在日光浸染下，影影綽綽氤氳柔和。 ▲以開放式姿態進入餐區，敞開公領域路徑，讓光線透進，延伸開闊視域。中島結合餐桌，採訂製規格，加強造型與機能，滿足多人餐食聚會需求。廚房建構長虹玻璃拉門，區隔餐廚性質，並解決無對外窗產生的晦暗感，以其透光性質平衡空間光源。 OPEN Design動能開啟傳媒：https://www.openworld.tv/
New Energy Leadership, Digital Transformation, and Global Partnerships Towards Carbon Neutrality Goals XUZHOU, China, May 14, 2025 PRNewswire/-- XCMG Machinery ("XCMG", SHE: 000425) has officially released its 2024 Environmental, Social, and Governance (ESG) report, particularly highlighting the group's achievements in sustainable practices aligned to global climate goals as well as breakthroughs in clean technologies, digital intelligence, and ethical governance, which positions XCMG as a catalyst of green industrial transformation. XCMG Machinery Publishes 2024 ESG Report: Pioneering Sustainable Innovation in Global Construction Machinery Industry Development "In 2024, we achieved more stable operational quality and improved profitability, vigorously advanced sustainable practices and new energy product development, strengthened our technological innovation and capabilities and global development, and made significant strides towards establishing a world-class enterprise underscoring our philosophy of 'progress amid stability,'" noted Yang Dongsheng, CEO and Chairman of XCMG Machinery. Globally XCMG dominates in lifting equipment, foundation machinery, specialized vehicles, earthmoving, and loaders. The Company expands partnerships with 95 percent market coverage under the Belt and Road Initiative with localized procurement strategies enhancing resilience. Advancing Green Manufacturing Towards Dual Carbon Goals Committed to advancing green manufacturing transformation and upgrading products and operations to meet the carbon peaking and carbon neutrality goals, XCMG has implemented a broad range of initiatives aimed at reducing pollution, lowering carbon emissions, conserving resources and promoting recycling, leveraging technological and digital capabilities, financial strategies and cultural initiatives. In 2024, clean energy accounted for 13.63 percent of XCMG's energy consumption, and Scope 1 greenhouse gas emissions have been reduced by 102,363 tons. The digital carbon footprint management platform of XCMG covers 114 core components. In 2024, it launched 21 new energy product lines, including electric excavators, hydrogen-powered mining trucks, and hybrid cranes, and achieved 10.88 billion yuan (USD 1.508 billion) in sales revenue from new energy products. In addition, XCMG invested 46.34 million yuan (USD 6.42 million) in environmental initiatives. Leveraging a robust big data analysis model for energy consumption, XCMG has developed targeted strategies for energy conservation and carbon reduction across three primary energy sources: electricity, steam, and natural gas, driving a comprehensive transformation in energy management and steering the industry towards an era characterized by digitalization and intelligence. It has developed an energy and carbon control platform integrating cutting-edge cloud computing, big data, and IoT technologies to support a wide array of functions poised to facilitate seamless collection of energy consumption data via intelligent devices. Accelerating Digital and Intelligent Transformation as Industry Benchmark XCMG is consistently recognized as a national benchmark for smart manufacturing. In 2024, it achieved Level 4 Smart Manufacturing Capability Maturity and Level 3 Data Management Capability Maturity. Additionally, last year, XCMG Crawler and XCMG Fudi were included in the China 2024 5G Factory Directory, while XCMG Heavy Machinery was listed in both China's First Batch of Excellence-Level Smart Factories and Industrial Internet Pilot Demonstration Projects. Boosting Social Impact and Community Engagement Throughout 2024, XCMG conducted diverse ESG assessments with its suppliers and integrated ISO 14001 and SA8000 standards into procurement processes. It launched a low-carbon training initiative that allows the Company to conduct over 20 comprehensive training sessions for its suppliers globally. Meanwhile, XCMG has boosted investment in public welfare initiatives encompassing education, poverty alleviation and disaster relief. It also substantially enhanced the talent development system to provide employees with broader career advancement and personal growth opportunities. Last year, XCMG invested 2.04 million yuan (USD 282,664) in employee welfare programs, trained 7,619 R&D professionals, and promoted gender inclusivity, with two female directors on the Board. Please visit http://static.cninfo.com.cn/finalpage/2025-04-29/1223367772.PDF for the Report. Photo - https://mma.prnasia.com/media2/2687156/XCMG_Machinery_Publishes_2024_ESG_Report_Pioneering_Sustainable_Innovation_in_Global_Construction_Ma.jpg?p=medium600
New Energy Leadership, Digital Transformation, and Global Partnerships Towards Carbon Neutrality Goals XUZHOU, China, May 14, 2025 PRNewswire/-- XCMG Machinery ("XCMG", SHE: 000425) has officially released its 2024 Environmental, Social, and Governance (ESG) report, particularly highlighting the group's achievements in sustainable practices aligned to global climate goals as well as breakthroughs in clean technologies, digital intelligence, and ethical governance, which positions XCMG as a catalyst of green industrial transformation. XCMG Machinery Publishes 2024 ESG Report: Pioneering Sustainable Innovation in Global Construction Machinery Industry Development "In 2024, we achieved more stable operational quality and improved profitability, vigorously advanced sustainable practices and new energy product development, strengthened our technological innovation and capabilities and global development, and made significant strides towards establishing a world-class enterprise underscoring our philosophy of 'progress amid stability,'" noted Yang Dongsheng, CEO and Chairman of XCMG Machinery. Globally XCMG dominates in lifting equipment, foundation machinery, specialized vehicles, earthmoving, and loaders. The Company expands partnerships with 95 percent market coverage under the Belt and Road Initiative with localized procurement strategies enhancing resilience. Advancing Green Manufacturing Towards Dual Carbon Goals Committed to advancing green manufacturing transformation and upgrading products and operations to meet the carbon peaking and carbon neutrality goals, XCMG has implemented a broad range of initiatives aimed at reducing pollution, lowering carbon emissions, conserving resources and promoting recycling, leveraging technological and digital capabilities, financial strategies and cultural initiatives. In 2024, clean energy accounted for 13.63 percent of XCMG's energy consumption, and Scope 1 greenhouse gas emissions have been reduced by 102,363 tons. The digital carbon footprint management platform of XCMG covers 114 core components. In 2024, it launched 21 new energy product lines, including electric excavators, hydrogen-powered mining trucks, and hybrid cranes, and achieved 10.88 billion yuan (USD 1.508 billion) in sales revenue from new energy products. In addition, XCMG invested 46.34 million yuan (USD 6.42 million) in environmental initiatives. Leveraging a robust big data analysis model for energy consumption, XCMG has developed targeted strategies for energy conservation and carbon reduction across three primary energy sources: electricity, steam, and natural gas, driving a comprehensive transformation in energy management and steering the industry towards an era characterized by digitalization and intelligence. It has developed an energy and carbon control platform integrating cutting-edge cloud computing, big data, and IoT technologies to support a wide array of functions poised to facilitate seamless collection of energy consumption data via intelligent devices. Accelerating Digital and Intelligent Transformation as Industry Benchmark XCMG is consistently recognized as a national benchmark for smart manufacturing. In 2024, it achieved Level 4 Smart Manufacturing Capability Maturity and Level 3 Data Management Capability Maturity. Additionally, last year, XCMG Crawler and XCMG Fudi were included in the China 2024 5G Factory Directory, while XCMG Heavy Machinery was listed in both China's First Batch of Excellence-Level Smart Factories and Industrial Internet Pilot Demonstration Projects. Boosting Social Impact and Community Engagement Throughout 2024, XCMG conducted diverse ESG assessments with its suppliers and integrated ISO 14001 and SA8000 standards into procurement processes. It launched a low-carbon training initiative that allows the Company to conduct over 20 comprehensive training sessions for its suppliers globally. Meanwhile, XCMG has boosted investment in public welfare initiatives encompassing education, poverty alleviation and disaster relief. It also substantially enhanced the talent development system to provide employees with broader career advancement and personal growth opportunities. Last year, XCMG invested 2.04 million yuan (USD 282,664) in employee welfare programs, trained 7,619 R&D professionals, and promoted gender inclusivity, with two female directors on the Board. Please visit http://static.cninfo.com.cn/finalpage/2025-04-29/1223367772.PDF for the Report.
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