XCMG, a titan in the construction industry, is all set to harness the potential of NFTs and global blockchain applications through a collaboration with Conflux.

Toronto, Canada, 27th March, 2023, Chainwire

​​ XCMG Construction Machinery Co., Ltd. (000425.SZ), As one of the globe's leading construction machinery manufacturers, XCMG has announced a strategic partnership with Conflux, a top-tier public blockchain platform, alongside Zen Spark Technology Pte Ltd, a fintech and blockchain firm based in Singapore. This collaboration is set to harness blockchain and Web3 technology to uncover new international applications. Conflux The alliance among XCMG, Conflux, and Zen Spark Technology Pte Ltd will synergize the unique capabilities of all three organizations to investigate fresh applications for blockchain and Web3 technology on the global stage. By merging XCMG's vast international network with Conflux's advanced blockchain solutions and Zen Spark's financial technology insights, they are eager to forge new pathways in blockchain usage.

XCMG currently holds its position as the third-largest construction equipment manufacturer globally, according to the KHL Group's Yellow Table 2022. Despite navigating challenges in the first half of 2022, XCMG made significant strides in international markets, boasting export revenues of RMB 12.488 billion (approximately $1.83 billion), which marks an impressive year-on-year growth of 157.28%. With a forward-thinking approach, XCMG aims for continuous innovation and long-term investments in the development of its machinery.

Liu Jiansen, XCMG's Vice President of Machinery and General Manager of the Import and Export Company, expressed enthusiasm about the partnership: 'We are excited to innovate with Conflux and Zen Spark as we explore new avenues in global markets.' This collaboration signifies a crucial step in integrating blockchain technology into traditional sectors, especially as globalization enhances connectivity, enabling blockchain and Web3 to usher in new innovations and business models.

Fan Long, the Founder of Conflux, shared his excitement about collaborating with XCMG and Zen Spark, stating, 'With our state-of-the-art blockchain solutions and Zen Spark's financial technology prowess, we are in a strong position to develop novel solutions and leverage blockchain for various use cases. This partnership reflects our mutual focus on innovation and the transformative potential of blockchain technology in established industries.' Grace, the CEO of Zen Spark Technology Pte Ltd, voiced her enthusiasm about the collaboration with XCMG and Conflux: 'We are thrilled to partner with XCMG and Conflux on this project, as we believe our expertise in fintech and blockchain will play a significant role in enhancing our collective strengths. We're eager to discover new business opportunities globally and create innovative solutions that benefit both companies and consumers.' models is more important than ever.

At the CONEXPO-CON/AGG trade show in Las Vegas, XCMG made waves by revealing its entry into the Web3 landscape with the announcement of Bored Ape Yacht Club NFT #3489 (BAYC #3489) serving as their ambassador in the Metaverse. Moreover, plans are afloat for XCMG and Conflux to co-launch their inaugural NFT collection targeting overseas audiences soon. XCMG is keen to expand its footprint in the blockchain and Web3 realms, looking to their partnership with Conflux and Zen Spark to enhance their innovative capabilities.

The collaboration involving XCMG, Conflux, and Zen Spark Technology Pte Ltd is capturing the attention of industry analysts and investors alike as they venture into new opportunities and drive market innovation. The fusion of blockchain and Web3 technology presents limitless possibilities, promising a bright future for XCMG, Conflux, Zen Spark, and the global business community.

XCMG holds the distinction of being the third-largest construction machinery manufacturer worldwide, ranking 65th in China’s Top 500 Companies, 44th in the nation’s Top 100 Manufacturing Enterprises, and second among China’s Top 100 Machinery Manufacturers. Over the years, XCMG has methodically established an extensive marketing network, featuring over 2,000 service points, upwards of 6,000 technical experts, and more than 5,000 personnel dedicated to sales and marketing. This widespread framework spans 183 countries and territories, ensuring XCMG delivers a full suite of services—ranging from pre-sales to post-sales support and financing solutions—to their global clientele.

Conflux stands as a permissionless Layer 1 blockchain that effectively connects decentralized economies beyond borders and various protocols. Recently, it transitioned to a hybrid consensus model of PoW/PoS, resulting in a blockchain environment that is swift, secure, and scalable—completely free of congestion while offering low fees and enhanced network security. Notably, as the only regulatory-compliant public blockchain in China, Conflux enjoys distinct advantages for projects aiming to establish or grow their presence in Asia, having partnered with international brands and governmental organizations on blockchain and Metaverse initiatives, including collaborations with Shanghai, McDonald’s China, and Oreo.

About XCMG

XCMG Zen Spark Technology Pte Ltd, a forward-thinking blockchain and fintech enterprise based in Singapore, is deeply committed to broadening the practical applications of blockchain on a larger scale. They are dedicated to developing pioneering solutions that integrate blockchain into everyday scenarios, including areas such as supply chain logistics, digital identity verification, data protection, and decentralized finance (DeFi), among others.

About Conflux Network

Conflux It’s important to clarify that the details provided on this page should not be construed as legal, tax, investment, financial advice, or any other type of professional guidance. Always make sure to invest only what you can afford to lose and consider reaching out for independent financial advice if any uncertainties arise. For more details, it might be helpful to review the terms and conditions along with the support resources offered by the issuer or advertiser. While MetaversePost strives to present accurate and impartial reporting, market conditions can change without prior notice.

About Zen Spark

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