Liugong enjoys record first half
By Chris Sleight19 October 2010
Revenues for Chinese construction equipment manufacturer Liugong rose +63.5% in the first half of the year to more than CNY 8 billion (US$ 1.2 billion) compared to the same period last year. The company's net profit came in at CNY 919 million (US$ 138 million) for the six month period, a +148% increase on the first half of 2009
Liugong sold more than 30000 machines in the first six months of 2010, with domestic sales rising +60% to 27908 units, while exports were up +39% to 2200 machines. Its best selling products were wheeled loaders, excavators, cranes and forklift trucks.
Several of the company's 12 product lines saw double-digit growth over the first half of the year. Wheeled loader sales were up +43%, excavator sales more than doubled, crane sales increased by +75% and compaction equipment was up +87%.
Liugong vice chairman and president Zeng Guang'an said, "Our many years of pursuing Six Sigma quality processes are reaping dividends for Liugong as the quality of our machines continues to impress customers. Our growth worldwide continues as we sign on new dealers and expand into new markets."
Earlier this year, Mr Zeng unveiled Liugong's aggressive five-year strategy, which calls for the company to become one of the world's ten largest equipment manufacturers by 2015. According to iC's 'Yellow Table' ranking of the industry, the company is currently in 21st position.