Brasília, October 20 (Local Time) – Brazilian President Luiz Inácio Lula da Silva cordially received Mr. Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery, and his delegation at the Presidential Palace. Also attending the meeting were Vice President and Minister of Development, Industry, Trade, and Services Geraldo Alckmin, and Chief Minister of the Presidential Office Rui Costa.

During the talks, President Lula congratulated XCMG on its achievements over more than a decade of operations in Brazil. He spoke highly of XCMG's efforts in promoting industrial upgrading, energy conservation, emissions reduction, and digital transformation, and fully acknowledged the sound development of XCMG Banco. He also expressed his expectation for the establishment of an XCMG research institute in Brazil. President Lula stated that he hopes XCMG will further expand its investment in Brazil, setting a successful example for economic, trade, and people-to-people exchanges between the two countries.

Chairman Yang Dongsheng provided President Lula with a systematic overview of XCMG's evolution in the Brazilian market, from trade exports and greenfield investments to "intelligent transformation, digital transition, and network connectivity." He stated that XCMG remains committed to its development direction centered on high-end, intelligent, and green growth, alongside service-oriented development and globalization. The company will actively advance the digital transformation of its industries, practice green manufacturing, fulfill its corporate social responsibilities, and strengthen the development of local young talent. He added that XCMG will continue to deepen its local operations in Brazil and, using the country as a hub, expand across other major South American nations, thereby building a long-term approach to development.

President Lula expressed his appreciation for XCMG's commitment to localized operations and its long-term strategy. He stated that Brazil welcomes Chinese companies, including XCMG, to participate in local infrastructure development, the digital economy, and green transformation, hoping that both sides can work together to promote sustainable development and share in future growth opportunities.

The meeting concluded in a friendly atmosphere. The parties posed for a group photo and reached preliminary agreement on future cooperation in areas such as R&D, finance, talent development, and green mining.