XCMG Machinery Publishes 2024 ESG Report: Pioneering Sustainable Innovation in Global Construction Machinery Industry Development

New Energy Leadership, Digital Transformation, and Global Partnerships Towards Carbon Neutrality Goals

XUZHOU, China, May 14, 2025 PRNewswire/-- XCMG Machinery ("XCMG", SHE: 000425) has officially released its 2024 Environmental, Social, and Governance (ESG) report, particularly highlighting the group's achievements in sustainable practices aligned to global climate goals as well as breakthroughs in clean technologies, digital intelligence, and ethical governance, which positions XCMG as a catalyst of green industrial transformation.

"In 2024, we achieved more stable operational quality and improved profitability, vigorously advanced sustainable practices and new energy product development, strengthened our technological innovation and capabilities and global development, and made significant strides towards establishing a world-class enterprise underscoring our philosophy of 'progress amid stability,'" noted Yang Dongsheng, CEO and Chairman of XCMG Machinery.

Globally XCMG dominates in lifting equipment, foundation machinery, specialized vehicles, earthmoving, and loaders. The Company expands partnerships with 95 percent market coverage under the Belt and Road Initiative with localized procurement strategies enhancing resilience.

Advancing Green Manufacturing Towards Dual Carbon Goals

Committed to advancing green manufacturing transformation and upgrading products and operations to meet the carbon peaking and carbon neutrality goals, XCMG has implemented a broad range of initiatives aimed at reducing pollution, lowering carbon emissions, conserving resources and promoting recycling, leveraging technological and digital capabilities, financial strategies and cultural initiatives.

In 2024, clean energy accounted for 13.63 percent of XCMG's energy consumption, and Scope 1 greenhouse gas emissions have been reduced by 102,363 tons. The digital carbon footprint management platform of XCMG covers 114 core components. In 2024, it launched 21 new energy product lines, including electric excavators, hydrogen-powered mining trucks, and hybrid cranes, and achieved 10.88 billion yuan (USD 1.508 billion) in sales revenue from new energy products.

In addition, XCMG invested 46.34 million yuan (USD 6.42 million) in environmental initiatives. Leveraging a robust big data analysis model for energy consumption, XCMG has developed targeted strategies for energy conservation and carbon reduction across three primary energy sources: electricity, steam, and natural gas, driving a comprehensive transformation in energy management and steering the industry towards an era characterized by digitalization and intelligence. It has developed an energy and carbon control platform integrating cutting-edge cloud computing, big data, and IoT technologies to support a wide array of functions poised to facilitate seamless collection of energy consumption data via intelligent devices.

Accelerating Digital and Intelligent Transformation as Industry Benchmark

XCMG is consistently recognized as a national benchmark for smart manufacturing. In 2024, it achieved Level 4 Smart Manufacturing Capability Maturity and Level 3 Data Management Capability Maturity.

Additionally, last year, XCMG Crawler and XCMG Fudi were included in the China 2024 5G Factory Directory, while XCMG Heavy Machinery was listed in both China's First Batch of Excellence-Level Smart Factories and Industrial Internet Pilot Demonstration Projects.

Boosting Social Impact and Community Engagement

Throughout 2024, XCMG conducted diverse ESG assessments with its suppliers and integrated ISO 14001 and SA8000 standards into procurement processes. It launched a low-carbon training initiative that allows the Company to conduct over 20 comprehensive training sessions for its suppliers globally.

Meanwhile, XCMG has boosted investment in public welfare initiatives encompassing education, poverty alleviation and disaster relief.

It also substantially enhanced the talent development system to provide employees with broader career advancement and personal growth opportunities. Last year, XCMG invested 2.04 million yuan (USD 282,664) in employee welfare programs, trained 7,619 R&D professionals, and promoted gender inclusivity, with two female directors on the Board.

Please visit http://static.cninfo.com.cn/finalpage/2025-04-29/1223367772.PDF for the Report.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

XCMG Machinery Publishes 2024 ESG Report: Pioneering Sustainable Innovation in Global Construction Machinery Industry Development

SINGAPORE and BOSTON, Jan. 13, 2026 /PRNewswire/ -- Cosmo, a global leader in performance textiles, composites, and advanced materials for the footwear and apparel industry, today announced a planned leadership transition. Josh VanDernoot will retire as Chief Executive Officer after six years in the role. The Board of Directors appointed Mark Griffie as CEO, effective 1 January 2026. Mark will be based in Singapore. Josh will remain on Cosmo's Board of Directors and serve as an advisor to support Mark through a smooth transition.

Chairman of the Board, Doug Dossey said, "Josh led Cosmo through a period of significant industry change, maintaining operating discipline, honoring commitments to our brand and factory partners, and strengthening the foundation of the business. We are grateful for his leadership, and Cosmo is well positioned today because of it."

Josh VanDernoot added, "It has been a privilege to lead Cosmo, and I am proud of the platform we have built over many years. The business is strong, the team is deeply capable, and Mark is well prepared to lead the business in its next phase. I look forward to continuing to support the Company as a Director and advisor."

Mark Griffie joined Cosmo in 2024 and has worked closely with the leadership team to drive growth, sustainable innovation and operational excellence. Previously, he spent two decades at Nike, most recently as Senior Vice President of Materials Supply Chain, where he oversaw global procurement of over USD 8 billion in footwear and apparel materials. His earlier roles spanned product development and sourcing across Asia, including postings in China (2006–2008) and Singapore (2016–2020). Mark brings deep brand acumen, an extensive industry network, and a proven track record of executing at scale.

"Mark is a proven leader with deep operating expertise and a strong understanding of our customers, partners and industry," noted Doug Dossey. "He has the full confidence of the Board and the leadership team, and he is incredibly well positioned to lead Cosmo into its next exciting phase of growth."

Mark Griffie said, "I'm humbled by the trust placed in me by the Board, Josh and the Cosmo team. Our priorities remain unchanged. We will stay deeply connected to our brand and factory partners, ensuring reliability and consistency in everything we do. At the same time, we will continue strengthening our commercial and operational foundations."

Cosmo operates in a dynamic part of the footwear and apparel value chain. With Mark as Chief Executive Officer, Cosmo will continue to lead with operational discipline and a strong customer focus. The Company is committed to supporting its brand and factory partners through reliable execution, close collaboration, and a relentless focus on delivering value.

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About Cosmo

Cosmo is a global leader in performance textiles, composites, and advanced materials for the footwear and apparel industries, and the #1 supplier of waterproof solutions worldwide. Through a versatile, multi-country manufacturing platform, Cosmo supplies innovative materials designed to meet a wide range of performance, aesthetic, and commercial requirements. Cosmo offers a tiered portfolio of solutions – spanning good, better, and best options across performance and price points – allowing brand and factory partners to select the right materials for each product and market. With manufacturing operations across Asia, Cosmo supports localized production, rapid development cycles, and fast-to-market delivery. The Company works closely with leading global brands through collaborative R&D partnerships and is committed to sustainable manufacturing, advancing initiatives such as recycled material systems, waterless dyeing, bio-based textiles, and closed-loop recycling. Together, these capabilities enable Cosmo to deliver high-quality, innovative, and environmentally conscious material solutions to partners worldwide. Learn more at https://cosmofabric.net/ 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Cosmo Announces Leadership Transition; Mark Griffie appointed as Chief Executive Officer