Summary
- XCMG Construction Machinery Co., Ltd., the world’s third-largest construction machinery manufacturer, has announced a partnership with Conflux and Zen Spark Technology Pte Ltd to explore new global use cases of blockchain and Web3 technology.
- The partnership aims to leverage the strengths of all three companies to develop new use cases for blockchain and explore the potential of Web3.
- The partnership between XCMG, Conflux, and Zen Spark is a significant milestone in the development of blockchain technology and its application in traditional industries.
XCMG Partnership with Conflux and Zen Spark
XCMG Construction Machinery Co., Ltd. (000425.SZ), the world’s third largest construction machinery manufacturers, announced a partnership with Conflux, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. The partnership aims to leverage blockchain and Web3 technologies to explore more international use cases.
Strengths of All Three Companies
By combining XCMG’s extensive global network with Conflux’s cutting-edge technology and Zen Spark’s fintech expertise, the three companies aim to develop new use cases for blockchain and explore the potential of Web3. XCMG currently ranks third place in the world’s top 50 construction equipment manufacturers, according to KHL Group’s Yellow Table 2022 ranking. In the first half of 2022, despite obstacles, XCMG expanded to overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 Billion). As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research into technology surrounding its equipment.
