On March 25, XCMG Group and China Merchants Group signed a strategic cooperation framework agreement at China Merchants Plaza in Shenzhen. Yang Dongsheng, Chairman and Party Secretary of XCMG Group and XCMG Machinery, Shao Danlei, Member of the Party Committee and Vice President of XCMG Group, Miao Jianmin, Chairman of China Merchants Group, and Wang Xiufeng, Vice President, attended and witnessed the signing. Xia Yongyong, Vice President of XCMG Group and General Manager of XCMG Automobile, and Zhang Junli, Assistant General Manager and Board Secretary of China Merchants Group and Director of the Group Office, signed the agreement on behalf of both parties.

Under the agreement, the two parties will adhere to the cooperation principles of "openness and fairness, complementary advantages, mutual benefit and win-win, and market orientation," fully leverage their respective strengths, and carry out strategic cooperation in areas such as integrated finance, transportation and logistics, real estate and industrial parks, and science and innovation industries. Through an efficient, pragmatic, and innovative cooperation model, they will achieve mutual benefit, win-win results, and common development, striving to create a model of cooperation among state-owned enterprises.

Before the signing ceremony, the two parties held talks and exchanges.

Miao Jianmin extended a warm welcome to Yang Dongsheng and his delegation for visiting China Merchants and briefly introduced the history of China Merchants and its cooperation with XCMG Group. He stated that China Merchants, as a century-old central state-owned enterprise, has always shared its fate with the motherland and developed in step with the times. In recent years, the Group has vigorously developed new quality productive forces, with asset scale and operating efficiency continuing to grow, and positive results achieved in high-quality development. XCMG Group is a benchmark in China's equipment manufacturing industry and an important customer of China Merchants, and the two parties already have a solid foundation for cooperation in areas such as transportation and logistics, integrated finance, real estate and industrial parks, and science and innovation industries. He expressed the hope that both parties will take this signing as an opportunity and a lever to further deepen cooperation in various fields, including integrated financial support, overseas market expansion, and industrial collaborative innovation, jointly explore development in emerging fields such as inspection and testing and intelligent high-end equipment manufacturing, and push bilateral cooperation to a new level.

Yang Dongsheng thanked China Merchants for its care and support of XCMG Group and introduced the development history and business layout of XCMG Group. He stated that in recent years, XCMG Group has focused on the transformation and upgrading toward high-end, intelligent, green, service-oriented, and international development, achieving breakthroughs in areas such as new energy construction machinery, mining machinery, emergency rescue equipment, and commercial vehicles, and has embarked on a path of connotative high-quality development. China Merchants, as a century-old central state-owned enterprise, has enjoyed enduring prosperity and is a hallmark and banner of national industry and commerce. China Merchants' strong global network and financial service capabilities are key support for XCMG's international development, and the two parties serve as capital and markets for each other. He looked forward to strengthening coordination and cooperation in areas such as overseas industrial park construction, cross-border financing, and the upgrading of port logistics equipment, so as to promote the high-quality development of China's equipment manufacturing industry.

Before the talks, Yang Dongsheng and his delegation visited the China Merchants History Museum to gain an in-depth understanding of China Merchants' more than 150-year development history. Heads of relevant units of XCMG Group and XCMG Machinery, and heads of relevant departments and units of China Merchants Group, participated in the event.