This report examines Xiamen XGMA Machinery Co. Ltd (or Xiagong whose Stock Code is 600815) and its subsidiaries. Xiagong is one of the leading domestic suppliers of wheeled loaders and compaction equipment, and as such holds an important place in the industry as a whole. The intention of this study is to focus on its construction equipment business. Xiagong was established as a limited stock company in 1993 through the restructuring of Xiamen Engineering Machinery Plant. It was floated on the Shanghai Stock Exchange on 28th January 1994 under the name of Xiamen Engineering Machinery Co. Ltd (or XEMC) which in March 2008 was changed to its current name, Xiamen XGMA Machinery Co. Ltd.