Xiamen XGMA Machinery

What Xiamen XGMA Machinery does

Xiamen XGMA Machinery Co., Ltd. (厦工股份, SSE: 600815) is a Chinese construction machinery manufacturer founded in 1951 and listed on the Shanghai Stock Exchange in January 1994. The company is a core subsidiary of Xiamen Haiyi Group, which is controlled by the Fortune 500 Xiamen ITG Holdings Group (a state-owned conglomerate). XGMA operates four domestic production bases in Xiamen (Fujian), Jiaozuo (Henan), Pingdingshan (Henan), and Zhundong (Xinjiang), with a combined annual wheel-loader production capacity of 20,000 units, and 1,001–5,000 employees.

The company produces six equipment categories: (1) wheel loaders (3–7 ton class, including diesel, CNG/LNG, electric, and intelligent variants), (2) crawler and wheel excavators, (3) road machinery (rollers, graders, pavers, milling machines), (4) industrial vehicles (forklifts, side forklifts), (5) tunnel boring machines via the XGMA-CRCHI joint venture (including China's first dual-mode earth-pressure/TBM shield), and (6) environmental machinery. It holds 300+ core patents and originated several China-first products (Z435 wheel loader in 1966, XG958i intelligent loader and XG822i intelligent excavator in 2015, XG955CNG/LNG clean-energy machines, dual-mode shield machine in 2019). It also produces a 5G remote-control cabin system, an autonomous methanol mining truck, electric loaders (XG975EV/XG965EV-L), and a DJ-series drilling jumbo.

The business model is primarily one-time equipment sales through 150+ dealers and 500+ service points across 100+ countries, complemented by direct sales to state-owned infrastructure contractors, a 20,000+ SKU parts business, operating leases, bank-factored financing partnerships, and emergency-rescue deployments. Customers include the China Polar Research Center (sole supplier since 1992), military traffic units, municipal governments, and large state-owned engineering firms (e.g., CCCC Third Harbor). 2024 reported revenue was 683 million RMB with a return to net profitability.

Name

Xiamen XGMA Machinery

Legal name

Xiamen XGMA Machinery Co., Ltd. (厦门厦工机械股份有限公司)

Website

https://xiagong.com

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Xiamen XGMA Machinery (SSE: 600815) is a Chinese construction machinery manufacturer producing wheel loaders, excavators, forklifts, road and tunnel boring equipment. A state-owned subsidiary of Xiamen ITG Holdings, it serves government, mining, and infrastructure clients domestically and in 100+ export markets.

Ownership category

akta.pro rank

Product category

Construction Machinery

NAICS

Construction Machinery Manufacturing (333120), Agriculture, Construction, and Mining Machinery Manufacturing (3331)

SIC

Construction Machinery & Equip (3531), Construction, Mining & Materials Handling Machinery & Equip (3530)

akta.pro primary industry

Wheel Loaders (IMAHAAAD)

akta.pro secondary industries

Road Building & Paving Equipment Vehicle Manufacturing (Pavers/Rollers/Milling) (IMACAFAE), Material Handling & Industrial Lift Vehicle Manufacturing (Forklifts/Telehandlers/Reach Stackers) (IMACAFAD), Surface Mining Equipment (Excavators, Shovels, Draglines, Dozers) (IMAKANAA)

Keywords

• Construction machinery
• Wheel loaders
• Hydraulic excavators
• Road construction equipment
• Shield tunnel boring machines

Headquarters

HQ city

Xiamen

HQ country

China

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. 工程机械整机销售: 主要收入来源，包括装载机、挖掘机、叉车、道路机械、隧道掘进机械等整机产品的制造和销售。2024年实现营业收入6.83亿元。
2. 配件业务: 提供20000种以上厦工各类产品配件，在厦门及焦作建有两个配件中心，在全国200多个配售网点就近满足用户需求。
3. 融资租赁服务: 厦工同多家融资租赁公司积极合作，根据设备购买人实际情况灵活选择融资租赁方式、还款方式、合理搭配首付比例及保证金比例。
4. 银行按揭服务: 厦工同多家银行开展合作，为客户提供有竞争力的金融服务。
5. 经营租赁服务: 提供常规的租赁服务，包括成套设备、专业操作人员、维修人员和管理人员等。

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

Xiamen XGMA Machinery manufactures and sells construction machinery including wheel loaders, hydraulic excavators (crawler and wheeled), forklifts, road construction equipment (rollers, pavers, milling machines, asphalt and stabilized soil mixing plants), shield tunnel boring machines, and environmental sanitation machinery. Its products serve earthmoving, mining, road construction, tunnelling, logistics, and municipal sanitation applications for contractors, mining operators, logistics companies, and government infrastructure projects, and are distributed domestically through dealers and service points as well as exported to more than 100 countries.

Product overview

Xiamen XGMA Machinery Co., Ltd. (厦工股份) is a leading Chinese construction machinery manufacturer established in 1951, producing a comprehensive portfolio of heavy equipment under the XGMA brand. The product portfolio encompasses six main categories: (1) Excavating & Loading Machinery — wheel loaders (including electric, LNG/CNG, and intelligent variants), excavating loaders, underground machines, and skid steer loaders; (2) Excavating Machinery — crawler excavators (including China's first intelligent excavator XG822i), wheel excavators, and grab steel machines; (3) Road Machinery — rollers, bulldozers, graders, pavers, and milling machines; (4) Industrial Vehicles — counterbalance forklifts, electric forklifts, warehouse forklifts, and side forklifts; (5) Tunnel Boring Machines (produced via the XGMA-CRCHI joint venture) — including dual-mode shield machines, TBM hard rock borers, slurry/water balance shields, and specialized shield types; and (6) Environmental Machinery — garbage compactors and compression transfer stations. XGMA also offers intelligent control systems (XG958i intelligent loader, XG822i intelligent excavator), 5G remote control cabin technology, and specialized equipment for extreme environments including Antarctic polar expeditions. The company operates four production bases in Xiamen, Jiaozuo, Pingdingshan, and Xinjiang Zhundong.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 厦工机械设备已先后25次远赴南北极，设备保有量达到15台，服务工程师31人次参加南极考察
• +4 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• 安能（厦门）应急产业发展有限公司coreStrategic or Co-development Partner · 1 March 2026厦工股份与安能（厦门）应急产业发展有限公司签署战略合作框架协议，双方将立足各自优势，在应急管理领域开展全方位、深层次合作，推动应急装备与应急服务融合创新，助力应急产业高质量发展。聚焦应急装备联合研发、实战场景应用、运维服务升级、市场资源共享等重点领域。
• 中铁工程装备集团coreStrategic or Co-development Partner · 1 September 2013厦门厦工机械股份有限公司与中铁工程装备集团于2013年9月合资成立厦工中铁重型机械有限公司，主要从事隧道掘进机械的研发制造，包括各类盾构机及核心零部件的研究开发、设计制造和技术服务。
• 焦作市人民政府minorStrategic or Co-development Partner · 1 August 20102010年8月厦工与焦作市政府签署战略合作协议，启动二期建设工程，产能扩大到20000台，逐步建立配件基地、维修服务基地、培训基地，延伸产业链，成为焦作市装备制造业发展龙头。
• 吉林大学、浙江大学、厦门大学minorStrategic or Co-development Partner厦工与吉林大学、浙江大学、厦门大学、中国机械科学研究总院、天津工程机械研究院等高校及研究所建立了长期的产学研合作关系。
• 中国极地研究中心coreStrategic or Co-development Partner厦工自1992年起连续34年为中国南北极科考提供装载机、挖掘机、叉车等设备及驻站机械师保障服务，厦工产品被授予中国南北极考察独家专用产品，双方保持长期战略合作关系。2019年举行厦工机械助力中国南北极科考队交机仪式。
• 厦门海翼集团有限公司coreOthers厦工是厦门海翼集团有限公司的骨干成员企业，厦门海翼集团是厦门国贸控股集团旗下企业，厦门国贸控股集团是世界500强企业。
• 武警交通部队coreOthers厦工设有突发应急救援办公室，与国家应急救援骨干力量武警交通部队建立联动机制，共同参与抢险救援工作。

Scale indicators12 records

Recent moves10 records

Expansion highlights7 records

Broad incumbents

• Doosan Bobcat: Doosan Bobcat is a global leader in compact equipment including skid steer loaders and small excavators, overlapping with XGMA's skid steer and compact product offerings. It is a broader incumbent with stronger global brand recognition and dealer networks.
• Komatsu: Komatsu is a major global OEM of construction, mining, and utility equipment, with direct overlap in excavators, loaders, and intelligent/ autonomous machinery — categories where XGMA is launching new products. Komatsu represents both a competitor and a technology benchmark for XGMA's intelligent equipment roadmap.
• Caterpillar: Caterpillar is the global benchmark in construction and mining equipment, competing with XGMA across loaders, excavators, and underground equipment. While far larger and more diversified, Caterpillar's pricing and product strategy set the competitive context for XGMA's international expansion.

Direct peers

• SANY Heavy Equipment International Holdings: SANY Heavy Equipment International focuses on large-tonnage mining and construction equipment including excavators and mining trucks, areas adjacent to XGMA's excavator and tunnel boring product lines. Both serve mining and infrastructure customers globally.
• LiuGong (Guangxi Liugong Machinery): LiuGong is one of China's largest construction machinery OEMs, with a product portfolio that directly overlaps XGMA's loaders, excavators, road machinery, and material handling equipment. Both companies target domestic contractors and emerging-market Belt & Road customers with comparable wheel loader lineups.
• SANY Heavy Industry: SANY is a global top-3 construction machinery OEM with extensive overlap in excavators, loaders, and road machinery. Both companies compete for major Chinese infrastructure projects and for export channels, though SANY is substantially larger and more globally branded.
• Shantui Construction Machinery: Shantui specializes in bulldozers, loaders, road rollers, and concrete machinery — categories that overlap directly with XGMA's road machinery and earthmoving lines. Both compete for infrastructure and mining customers in China and Belt & Road markets.
• Zoomlion Heavy Industry Science & Technology: Zoomlion competes with XGMA in earthmoving, road, and material handling equipment, and similarly pursues international expansion via acquisitions and dealer networks. Both companies target municipal, mining, and infrastructure customers in China and overseas.
• XCMG (Xuzhou Construction Machinery Group): XCMG is China's leading construction machinery OEM and a direct competitor across loaders, excavators, road machinery, and cranes. Both companies serve infrastructure contractors and have similar export footprints across the Belt & Road and Southeast Asia.
• Lonking Holdings: Lonking is a China-based OEM focused heavily on wheel loaders and excavators, making it one of the closest direct competitors to XGMA's flagship product lines. Both companies serve similar domestic dealer networks and emerging-market export channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/xgmamachinery

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Xiamen XGMA Machinery