LIUZHOU, China, Nov. 7, 2024 /PRNewswire/ -- From November 6th. to 7th., 2024 LiuGong (000528.SZ) Global Dealer Conference & 11•26 Global Customer Festival was held in Liuzhou, Guangxi, at the company's headquarters. Nearly a thousand dealer representatives from around the world gathered together to discuss industry trends, share success stories, and explore future collaboration opportunities.
Nearly 200 machines were displayed on-site, covering 8 industries and work conditions. 50 innovative products were launched on-site, covering a wide range of equipment including mining loaders, motor graders, pipe layers, rotary drilling rigs, aerial work platforms, dual-power machines, etc. These products showcase LiuGong's latest achievements in technological innovation and diversification. LiuGong's mining solutions, built on years of expertise, captured attention with their impressive scale and smart technology. 50 electrified green products were displayed, including excavators, graders, and bulldozers, all performing excellently in reducing noise, cutting emissions, and improving energy efficiency. These products not only meet global environmental standards but also incorporate the latest electric drive technology, demonstrating LiuGong's significant achievements in environmental protection and sustainable development.
At the conference, LiuGong unveiled its new T-series wheel loaders and F-series excavators, integrating smart technology and innovative design. The F-series now covers a range of equipment from 1.7 to 120 tons, with a variety of attachments and an expanded product portfolio from 12 to 70 models, showcasing LiuGong's ongoing commitment to innovation and product diversification. The new T-series loaders have further improved comfort and control, enhanced reliability, and reduced fuel consumption and total ownership costs.
Since launching the Green Alliance initiative at the 2023 Global Dealer Conference, LiuGong has shown a strong commitment to green development through support for public welfare projects in Africa. In August this year, the first phase of the water well project was successfully completed. During this year's conference, LiuGong further strengthened the Green Alliance by signing deepening agreements with Universitas Gadjah Mada in Indonesia, Beijing Institute of Technology, and five dealers and customers to advance sustainable development.
LiuGong is dedicated to providing comprehensive solutions. In addition to construction machinery, LiuGong has continuously expanded its product line, introducing strategic new products such as aerial work platforms, forklifts, sugarcane harvesters, tractors, cranes, etc., creating more business opportunities for dealers. Furthermore, LiuGong offers a full range of after-market services to ensure the continued, stable operation of its equipment, providing dealers and customers with peace of mind.
At the conference, LiuGong signed intent purchase orders with its partners and set targets for 2025. Customer representatives also signed strategic partnership agreements with LiuGong, further solidifying their collaboration. LiuGong also recognized outstanding dealers for their contributions to the company's global growth, expressing gratitude for their key role in LiuGong's success and enthusiasm for deepening future cooperation.
For the first three quarters of 2024, LiuGong reported a total revenue of 22.856 billion RMB, an 8.25% increase year-on-year. Net profit reached 1.321 billion RMB, marking a 59.82% growth compared to the previous year. In his speech, LiuGong Chairman and CEO, Zeng Guang'an, analyzed both macro and micro economic conditions, highlighting the steady rise in LiuGong's global sales. This reflects the strong influence of the LiuGong brand and its competitive edge in the market. Zeng emphasized that LiuGong, together with its dealers and partners, will continue to expand market opportunities and drive industry growth.