XCMG has officially inaugurated the XCMG Loading Equipment Research Institute (the Institute) and commissioned the world's first new energy loader production line in Xuzhou, China. The Institute will play a vital role in the transformation and upgrade of the industry centered on green, intelligent, high-end, service-oriented, and international development, with the goal of creating a market-oriented technological innovation ecosystem integrating industry, education, and research, propelling original and pioneering positive R&D models, leading the market with technology and quality, and promoting high-quality industry development, said Yang Dongsheng, CEO and chairman of XCMG. Following the growing trend of sustainable, the sales penetration rate of new energy loaders continues to climb, increasing from 1.8 percent in February to 5.8 percent in September in China; and XCMG's current penetration rate has reached 12.1 percent. An intelligent, environmentally-friendly production line The new energy loader production line is designed especially for new energy models and adapts to rapid product upgrades and iterations, laying a solid foundation for the intelligent manufacturing of new energy equipment products. In addition to producing emission-free new energy vehicles, the product line also utilizes clean energy throughout the manufacturing process to eliminate industrial emissions. Material distribution and transfer are achieved with motorized equipment, including AGVs and electric forklifts, with high automation levels and low energy consumption. From equipment, transfers, and tools to the products, the entire new energy assembly is fully green without any pollution or near-zero carbon emissions. The production line reduces Scope I, II, and III emissions significantly ? each new energy loader has an average working time of 3,000 hours, reducing 32.3 tons of carbon emissions and 118.35 tons of CO? emissions annually. At the moment, there are nearly 1,500 units of XCMG new energy loaders in operation, cutting the annual carbon emissions by 48,400 tons and CO? emissions by 177,500 tons. It's estimated that by 2025, the annual sales volume of XCMG electric loaders will reach 5,000 units, thereby cutting the CO2 emissions by 592,000 tons annually. Back in 2010, XCMG pioneered the world's first LNG loader, that established its leading position in the new energy loader sector. Today, there has evolved a comprehensive product portfolio of pure electric, hydrogen-powered, and hybrid new energy products, coupled with the applications of intelligent technologies including remote control and unmanned operation.