XCMG(SZ:000425)2024-06-07 10:08Group 1: Domestic Market Situation - The company observes positive signs in the industry, driven by a 1 trillion yuan bond issuance project and a "large-scale equipment renewal" policy, although significant changes are not expected in the short term [1] - Long-term optimism is supported by factors such as uneven urbanization development, significant internal investment growth potential, the development of the new energy industry, natural equipment renewal demand, and growth opportunities in niche product areas [1] Group 2: Export Market Outlook - The company expects continued good performance in the export market, with international revenue projected to grow due to the increasing demand in overseas markets and improved quality of domestic products [2] - The company has a global marketing network covering over 190 countries and regions, with international revenue accounting for 40% in 2023 [2] Group 3: Export Regions and Strategies - Major export regions include Southeast Asia, Central Asia, Africa, South America, Europe, North America, West Asia and North Africa, Central America, and Oceania [2] - The company maintains a strategy of long-term cooperation with overseas distributors, primarily relying on distribution sales supplemented by direct sales [2] Group 4: Profitability and Margin Trends - The company believes there is potential for further improvement in overseas gross margins through price increases in stable markets, optimizing product structure, enhancing service capabilities, and cost reduction efforts [2] - The company plans to increase gross margins in 2024 by stabilizing revenue growth and prices, reducing costs, and adjusting the product mix to increase the share of high-margin products [2]