Hongli Group Inc's Comment on Sales, Marketing and Customers
The company's principal customer is XCMG and its subsidiaries, including XCMG Loader Co., Ltd., XCMG Road Machinery Co., Ltd., XCMG Agricultural Equipment Co., Ltd., and XCMG Forklift Co., Ltd. Orders from XCMG are projected to increase by approximately 50%. The company's PRC operating entities manufacture customized cold roll formed steel pipe and tubing products for various industries. The primary market segments served are mining and excavation (45% of sales), agriculture (52% of sales, mainly agricultural machinery cabs and roll-over protective structures), construction (2% of sales, primarily doors and windows), and transportation (1% of sales, used in forklifts for material transportation).
Hongli Group Inc’s Comment on Sales, Marketing and Customers
The company's principal customer is XCMG and its subsidiaries, including XCMG Loader Co., Ltd., XCMG Road Machinery Co., Ltd., XCMG Agricultural Equipment Co., Ltd., and XCMG Forklift Co., Ltd. Orders from XCMG are projected to increase by approximately 50%. The company's PRC operating entities manufacture customized cold roll formed steel pipe and tubing products for various industries. The primary market segments served are mining and excavation (45% of sales), agriculture (52% of sales, mainly agricultural machinery cabs and roll-over protective structures), construction (2% of sales, primarily doors and windows), and transportation (1% of sales, used in forklifts for material transportation).
Sources:
Hongli Group Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
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