The 20th "World Brand Summit," hosted by World Brand Lab, was held in Beijing on June 15, where the 2023 analysis report of the "China's 500 Most Valuable Brands" was released.

In this annual report, based on financial data, brand strength, and consumer behavior analysis, "XCMG" topped the list of the most valuable brands in the construction machinery industry for the tenth consecutive year with a brand value of 113.619 billion yuan. The "XCMG Hanyun" brand value advanced further to 15.026 billion yuan, ranking 425th.

It is understood that in the 2023 "China's 500 Most Valuable Brands" ranking, a total of 28 machinery brands were included, accounting for 5.6% of the total brands on the list.

Dr. Steve Woolgar, Chairman of the Academic Committee of World Brand Lab and Emeritus Professor of Marketing at Oxford University, stated: "A brand is the image of a country. I hope more people around the world can learn about China's story through Chinese brands. Over the past 20 years, I have witnessed the rapid growth of Chinese brands, some of which already have strong global influence, including State Grid, Haier, Wuliangye, XCMG, Tongwei, Bosideng, and others."

The theme of this year's "World Brand Summit" is "Artificial Intelligence (AI) and Web3.0: A Whole New Frontier for Brands." Dr. Elie Ofek, Professor of Marketing at Harvard Business School, pointed out that the main reason for brand reshaping is environmental change, which may come from consumers, competitors, the company's own operating conditions, partners, and the market environment, among others. Artificial intelligence and digital transformation are clearly major opportunities for brand reshaping.

For XCMG, internationalization, digitalization, and greening are the inevitable path for the "XCMG" brand's transformation and innovation and the realization of high-quality development. Currently, XCMG's "Chairman's No. 1 Project," the intelligent transformation and digital transformation project, has been fully launched, and is supporting the high-quality development of XCMG's strategy with a continuous stream of powerful new digital and intelligent forces.

It is worth mentioning that, as a leader in the industrial internet industry, XCMG Hanyun continues to focus on technological innovation breakthroughs, continuously promotes the integrated development of the digital economy and the real economy, and fully leverages its role as the "core foundation of digital transformation." Since first being selected last year, its brand value has exceeded 15 billion yuan this year, an increase of 25%.

The construction machinery of the future will be software-driven enterprises. IT globalization has become a key driving force and effective lever for XCMG's global development. By achieving standardization of XCMG's global business processes and intensification of its global operating model, XCMG will truly be built into a group company with both deeply localized operations and globally integrated management. At the same time, XCMG is advancing intelligent transformation and digital transformation in an all-round, multi-scenario, and in-depth manner, having formulated the "Six Classics and Six Latitudes" blueprint and path plan for intelligent and digital transformation, accelerating enterprise transformation and innovation, stimulating new momentum for development, and going all out to advance the Digital XCMG and Smart XCMG brand.

Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery and Secretary of the Party Committee, as the advocate of the intelligent transformation and digital transformation project, has his own unique views on this: "Intelligent transformation and digital transformation are an important engine leading a new round of technological revolution and industrial transformation, an effective lever for innovating business models, and a strategic choice for achieving high-quality development of enterprises. XCMG must seize the high ground of digital construction, accelerate the promotion of the 'Five Transformations' upgrade, and strive to build a modern industrial system!"