XCMG chooses Conflux for NFTs and future global blockchain applications

XCMG Construction Machinery Co., Ltd. (000425.SZ), the world’s third largest construction machinery manufacturer, 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.

The partnership between XCMG, Conflux and Zen Spark Technology Pte Ltd will leverage the strengths of all three companies to explore new scenarios for the use of blockchain and Web3 technology in the global market. 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 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 into overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 billion), a year-on-year increase of 157.28%. As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research and development of the technology surrounding the equipment.

“We are excited to partner with Conflux and Zen Spark to explore new opportunities in global markets,” said XCMG’s Vice President of Machinery and General Manager of Import and Export Company, Liu Jiansen. The partnership between XCMG, Conflux and Zen Spark Technology Pte Ltd is a significant milestone in the development of blockchain technology and its application in traditional industries. As the world becomes increasingly interconnected, the ability to leverage blockchain and Web3 technologies to drive innovation and explore new business models is more important than ever.

“We are thrilled to partner with XCMG and Zen Spark to explore new opportunities in the global market,” said Fan Long, founder of Conflux. “With our pioneering blockchain technology, and Zen Spark’s expertise in fintech and blockchain, we are well positioned to create new solutions and explore new applications for blockchain and Web3 technology. This partnership is a testament to our shared commitment to innovation and our belief in the potential of blockchain to transform traditional industries.”

“Zen Spark is excited to partner with XCMG and Conflux on this initiative and we are confident that our fintech and blockchain expertise will complement the strengths of our partners,” said Grace, CEO of Zen Spark Technology Pte Ltd. “We look forward to exploring new opportunities in the global market and contributing to the development of innovative solutions that benefit both businesses and consumers.”

At the CONEXPO-CON/AGG show in Las Vegas, XCMG announced their entry into Web3 by revealing the Bored Ape Yacht Club NFT #3489 (BAYC #3489) as the brand’s Metaverse ambassador. In addition, XCMG and Conflux plan to issue their first NFT collection for overseas markets in the near future.

As XCMG continues to explore new opportunities in the blockchain and web3 space, the company is excited to leverage its partnership with Conflux and Zen Spark Technology Pte Ltd and their expertise in distributed ledger technology and fintech to bring innovative solutions to the global market.

The partnership between XCMG, Conflux and Zen Spark Technology Pte Ltd will be closely watched by industry experts and investors as the three companies explore new opportunities and drive innovation in the global market. With the power of blockchain and Web3 technology, the possibilities are endless and the future looks bright for XCMG, Conflux, Zen Spark and the global community.

About XCMG

XCMG is the world’s 3rd largest construction machinery company, ranked 65th in China’s Top 500 Companies, 44th in China’s Top 100 Manufacturing Enterprises, and ranked 2nd among China’s Top 100 Machinery Manufacturers.

Through its robust and steady growth in the global market, XCMG has systematically established a huge marketing network that includes over 2,000 service terminals, more than 6,000 technical experts and over 5,000 marketing and sales service personnel.

This expansive network spans 183 countries and regions, enabling XCMG to consistently provide its worldwide clientele with comprehensive, integrated, highly efficient and convenient one-stop services, including pre-sales, sales, after-sales and financing solutions.

About Conflux Network

Conflux is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure and scalable blockchain environment with zero congestion, low fees and improved network security.

As the only regulatory public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has partnered with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China and Oreo.

About Zen Spark

Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company, is passionately committed to expanding the real-world application of blockchain technology on a larger scale. Zen Spark Technology develops cutting-edge solutions that seamlessly integrate blockchain technology into real-world use cases.

This includes areas such as supply chain management, digital identity verification, data security and decentralized finance (DeFi).