The traditional construction machinery industry has long been trapped in the cyclical dilemma of the real estate and infrastructure stock markets.
Overcapacity, price wars, and low-end involution are intensifying.
Changsha, which sits on the high ground of the global construction machinery industry, did not stick to the old path of vehicle manufacturing, but decisively embarked on a transformational breakthrough from “manufacturing” to “intelligent manufacturing”.
Nowadays, Xidi Zhijia, Fusheng Technology, Pinrui Tendering and Hunan Energy Group have formed a four-way linkage. An industrial chain connecting intelligent equipment, autonomous driving, new energy power, digital operation and maintenance, and green energy operation is gradually taking shape, and a trillion-level industrial ecology has quietly broken ground.
The practical question facing the industry is very clear: Can Xidi Smart Driving and Fusheng Technology shoulder the burden of a 100-billion-dollar industry?
How can bidding channels open up market exports?
How to build core competitiveness?
What path should we take to develop the market?
Why do the two technological innovation companies have to closely bind Zoomlion and Sany Group to complete the industrial chain upgrade?
How can the provincial energy platform lay a solid foundation for the high-quality development of new construction machinery?
Chen Gang, who has a keen eye based on his rich experience in the political and business circles, highly summarized the essence of transformation in three sentences: the production capacity of traditional construction machinery is becoming saturated, and only transformation can break through; low-end homogeneous competition is intensifying, and only through industrial upgrading can core competitiveness be formed; the pace of industry iteration continues to accelerate, and complacency will eventually be eliminated by the market.
The policy trend is fully open, and the trillion-dollar stock market is ushering in a wave of renewal
The new construction machinery industry is ushering in dual opportunities from policy and market, and smart mines are the first to take the lead.
The state issued the “Guiding Opinions on Accelerating the Development of Intelligent Coal Mines”, which stipulates that large non-coal mines will fully complete intelligent transformation by 2026.
The new version of the “Coal Mine Safety Regulations” that was launched in February this year directly lists unmanned mining and remote operations as legal technical paths, and the intelligence of mines has changed from an option to a hard target.
Railway equipment updates also usher in a window period.
Twelve departments have introduced large-scale equipment update action plans to speed up the clearance of old diesel locomotives.
The National Railway Administration has successively issued documents delineating timetables: the service life of old diesel locomotives is limited to 30 years, all key areas will be withdrawn from operation by the end of 2027, and the market clearance will be basically completed by 2035.
The policy also liberalizes the transformation path, allowing fuel power to be replaced by battery, gasoline-electric hybrid, and hydrogen fuel cell systems.
There are nearly 20,000 locomotives in stock across the country, giving rise to a trillion-dollar modification market.
In closed operation scenarios such as mines, ports, and metallurgy, electrification and unmanned operation are the general trend.
Industrial energy conservation and carbon reduction have brought about a new round of equipment replacement demand.
This year, the Ministry of Industry and Information Technology launched a special energy-saving inspection of high-energy-consuming industries, and nine major industries, including steel, electrolytic aluminum, and cement, launched a three-year carbon reduction campaign.
Differentiated electricity prices have been officially implemented, with the maximum price increase for electricity exceeding the standard production capacity being 0.1 yuan/kWh.
In the steel industry alone, the production cost per ton of steel will increase by forty or fifty yuan.
In order to reduce costs, industrial and mining enterprises can only eliminate old high-energy-consuming equipment and replace smart energy-saving equipment in large quantities.
The market data is eye-catching enough.
The industry blue book shows that the average annual growth rate of the domestic smart mining market remains above 10%, and the scale is expected to exceed 120 billion yuan in 2035.
The total size of the intelligent coal mine and non-coal mine intelligent market will exceed 2.3 trillion yuan within ten years.
Coupled with orders for railway locomotive updates and industrial energy-saving renovations, the market space for new construction machinery tracks continues to expand.
Changsha has a unique industrial foundation. Sany, Zoomlion and China Railway Construction Heavy Industry have been ranked among the top 50 construction machinery companies in the world for many years, and their domestic mining vehicle manufacturing capabilities are unparalleled.
Shortcomings are also very prominent: automatic driving control systems, mining power supplies, and intelligent dispatch software have long relied on external procurement.
Xidi Zhijia, Fusheng Technology, Pinrui Tendering and Hunan Energy Group have jointly established a collaboration system tailored to complement the weaknesses in the industrial chain.
The four entities perform their respective duties and firmly guard the key links of the industrial chain
Xidi Zhijia, founded by Professor Li Zexiang of the Hong Kong University of Science and Technology, successfully listed on the Hong Kong Stock Exchange and became the first unmanned mining truck stock in the world.
As of February 2026, the company has delivered 1,500 unmanned mining trucks, with a cumulative transportation volume of more than 140 million tons, and an unmanned operating mileage of more than 16 million kilometers.
In April this year, the company reached a cooperation with the international mining giant MMD to promote unmanned transportation solutions to overseas markets.
Most outsiders regard Fusheng Technology simply as a supplier of electrical and electronic components, but ignore its complete business layout.
Relying on twenty years of automation technology accumulation from Central South University and superimposed on the industrialization practice of Sany Heavy Industry, the company holds more than 30 core patents and has a clear positioning: to provide integrated overall solutions of “equipment + digital + energy” for mining, railways, metallurgy, and ports.
The new energy locomotive power system independently developed by the company was measured under extremely cold conditions in Northeast China, and its endurance increased by 38.7% and its acceleration performance increased by 52%.
The five new energy locomotives delivered to China Energy Engineering Corporation have continuously run for more than one million kilometers without faults. The operation and maintenance costs are 80% lower than that of diesel locomotives, and they are accurately aligned with the electric transformation policy of old locomotives.
The core value of Fusheng Technology is to polish Xidi Zhijia’s autonomous driving algorithm and Fusheng Technology’s complete solution into a highly competitive bidding document.
From digging out project information in the early stage and forming a bidding consortium, to applying for the first set of industrial policies and opening up centralized procurement channels for state-owned enterprises across the country, a complete set of implementation links has been formed to truly transform technological advantages into batch orders and solve the common problem of science and technology innovation companies “having technology but not being able to get projects”.
As a provincial comprehensive energy platform, Hunan Energy Group controls more than half of the province’s coal production capacity and has 8 billion tons of coal resources inside and outside the province, covering the entire industry chain of power, energy storage, carbon trading, and mining engineering resources.
In April this year, its subsidiary Chuxiang Construction took the lead in establishing a green mine smart construction innovation consortium, gathering the scientific research strength of Central South University and Hunan University, and linking equipment leaders such as Sany, Zoomlion, and Sunward Intelligent.
The group also joined forces with six provincial state-owned enterprises to invest 2 billion yuan to establish Hunan Shuizhi Logistics Information Co., Ltd. to build a provincial logistics big data hub.
While providing real-life scenes of open-pit mining, it also connects with metallurgical enterprises such as Hunan Iron and Steel, allowing new energy equipment and intelligent transportation solutions to complete on-site inspections in the entire mining and smelting chain, opening up the energy closed loop from mining to metallurgical production.
Collaborative closed-loop formation to solve three major practical problems in industrial transformation
The four units have a clear division of labor and are interlocking: Xidi Zhijia provides the automatic driving dispatching brain, Fusheng Technology outputs integrated software and hardware solutions, Pinrui Bidding holds the entrance to the bidding market, and Hunan Energy Group provides test scenarios, green power resources and state-owned enterprise credit endorsement.
This collaboration model accurately resolves three major ills in the industry.
First of all, crack the “technology, but no scenario”.
Many technological innovation companies have excellent algorithms but cannot find stable mining areas for long-term field testing.
The provincial energy platform has its own mining and metallurgical parks, which can provide regular testing sites. Coupled with the credit blessing of state-owned enterprises, new technologies do not have to stay in the laboratory stage.
Secondly, crack “there is a plan but no channel”.
The R&D team is good at technical research, but is not familiar with the bidding rules of state-owned enterprises.
Pinrui Bidding makes up for the shortcomings of marketization, transforms complete sets of technical solutions into compliant bids, and transforms technical advantages into winning orders.
Finally, crack the “there are orders, no barriers”.
Most foreign companies can only sell autonomous driving software or power batteries separately.
This combination model in Changsha can package and output a package of services of “unmanned mining trucks + new energy locomotives + three-power hardware + smart operation and maintenance + mining area green power + carbon emission reduction benefits”.
This kind of comprehensive solution spanning multiple fields of equipment, digital, and energy is difficult for a single foreign manufacturer to copy, and it naturally builds an industry moat.
This is also the core reason why Xidi Zhijia and Fusheng Technology must be deeply integrated into the industrial chains of Sany and Zoomlion.
Leading vehicle manufacturers have mature manufacturing capabilities, a global sales network, and a large number of industrial and mining customers. Only by embedding technology and innovation enterprises into the complete machine supporting system can they quickly install autonomous driving and new energy power systems in batches. Only by completing the shortcomings of intelligent control and electric power can leading enterprises get rid of their dependence on external technology and shift from simply selling hardware to exporting a complete set of intelligent operation solutions.
Only through deep two-way binding can we accelerate the implementation of technology industrialization.
Achieving a scale of 100 billion in the short term and building a trillion-dollar industrial ecosystem in the long term
The path for industrial advancement is clear and controllable.
In the short term, we will rely on the internal market to complete the polishing: rely on Hunan Energy Group’s own mining and metallurgical project landing orders to continue to optimize products and business models; and then rely on Pinrui Bidding to open up the national mining and steel industry bidding market, quickly seize incremental orders, and steadily achieve a breakthrough in the scale of the industry worth hundreds of billions.
In the medium and long term, we will steadily move towards industrial ecological upgrading, continue to polish the integrated service capabilities of “equipment-digital-energy”, and promote the iterative upgrading of Changsha’s industrial positioning.
This city will no longer be just a construction machinery vehicle manufacturing base, but will gradually grow into a full-chain industrial highland covering intelligent equipment manufacturing, unmanned driving in mining areas, new energy powertrains, remote digital operation and maintenance, and green power operations in mining areas, supporting a trillion-level industrial ecosystem.
In Chen Gang’s view, lane changing and overtaking by Changsha construction machinery is by no means simply superimposing autonomous driving and new energy technologies on traditional equipment.
This is a profound change in the industrial paradigm: the business logic has shifted from “selling a single piece of equipment” to “selling an overall solution”, and the industrial layout has been upgraded from “a single enterprise breaking through at a single point” to “multiple parties co-building an ecological closed loop”.
After the real estate and infrastructure dividends faded, the construction machinery industry bid farewell to rapid growth.
Rather than being entangled in the existing market at low prices, it is better to actively switch tracks and seize new trends in smart mining, electric equipment, and digital operation and maintenance.
With a solid vehicle manufacturing foundation, technological breakthroughs from scientific and technological enterprises, coupled with real-life application scenarios and stable market channels, Changsha has laid out a trillion-dollar new construction machinery industry cluster. The right time, place and people are right. The time has come, and the trend is already there.
