On August 5, Zhongyin Financial Leasing Co., Ltd., a subsidiary of SDE, exported to Yancoal Australia a total of 15 high-end China-made haul trucks (330 tons loading capacity) for mine use through financial leasing. The 15 haul trucks are the first batch export of the total project. The handover took place at MTW in Australia, where 6 haul trucks were accepted by the end-users after conducting on-site inspection. It is said to be the first export of China designed and manufactured heavy haul trucks with maximum load of 330 tons at the global market, showcasing that China has made breakthroughs in term of selling China-made high-end equipment at the international market.
Yancoal Australia, a controlled subsidiary of SDE, is the largest pure coal player in Australia. In order to upgrade its equipment, cut costs and increase economic benefits, Yancoal Australia launched a global tendering in 2019 to import a total of 28 high-end haul trucks for mine use, with maximum loading capacity of 330 tons each. A number of global leading manufacturers from the US, Europe and Japan participated the bidding.
Due to Australia’s strict technical and quality standards for mining equipment accreditation and certification, Yancoal Australia has long favored major international suppliers such as Caterpillar from US and Komatsu from Japan for their haul trucks. Thus, Chinese suppliers have no previous record of winning the bidding for Yancoal Australia’s project. Although high-end haul trucks for mine use have been listed on the “Directory on Major Technical Equipment Independent Innovation” by the Ministry of Industry and Information Technology of the PRC, there is no previous record of exporting the China-made 330 tons haul trucks despite of sufficient production capacity.
In order to propel China's high-end manufacturing towards going global, SDE has coordinated domestic manufacturers to participate in the bidding through a market-oriented approach. The result is，NHL，a subsidiary of China North Industries Group, eventually won the bidding with its NTE 360A electric haul trucks, registering the first export of China-made high-end haul trucks for mine use to the high-end international market.
In completing the transaction, Zhongyin Financial Leasing thoroughly studied the legal and taxation systems of different countries and regions such as mainland China, Hong Kong, Australia and Singapore, sorted out and analyzed the regulatory policies for customs and foreign exchange management, effectively communicated and coordinated with relevant departments, opened up multiple business channels in Shanghai, Tianjin, Hong Kong and Singapore, and provided Yancoal Australia and NHL with sufficient cross-border financial services, which contributed greatly to the success of this transaction.
