The award was first launched in 2004 by Global Entrepreneur magazine.
Global Entrepreneur, a financial media outlet in China, announced the "2013-2014 Top 50 Best Performing Companies in China". Guangxi LiuGong Machinery Co., Ltd, was recognized in the "Top 50" list. Huang Haibo, Vice President of LiuGong Machinery, was invited to attend the event and to participate in the "Billions Companies Roundtable" with many business leaders.
The award was first launched in 2004 by Global Entrepreneur magazine. As the Chinese market plays an increasingly important role in the global economy, the companies who receive the award are well respected not only in the Chinese market but in the global marketplace. The award not only takes financial results into consideration, but also pays attention to whether the companies are trying new strategies and seeking new business opportunities in the changing market.
The global construction machinery market witnessed its most difficult period from 2011 to 2013, while China’s construction equipment market has also been in a difficult situation. LiuGong, a global leader in manufacturing a full line of extreme duty equipment, captured the good times of a booming Chinese market and then weathered the industry downturns. The company remains confident and has stuck to their global market strategy with smart thinking and a long term plan. In spite of continuous challenges and tough market conditions, LiuGong’s net profit in 2013 increased by 20.41 percent, with overseas market sales growing by 15 percent year on year. While the overall overseas sales of Chinese loader manufacturers declined, LiuGong grew by 19% with forklift sales in overseas markets up by 50%.
Over the past year, LiuGong took a series of actions in its globalization strategy, demonstrating its confidence and commitment, according to the company. In 2013, LiuGong opened a new 33,000m2 global parts center and laid the foundation stone of the 110,000m2 international R&D center, including 20,000m2 of R&D offices, a testing center and testing field.