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Chinese farm drone maker XAG posts triple-digit growth overseas
Feb. 16, 2023
XAIRCRAFT（XAG）
ChinaFollow
ChinaChinese agriculture drone maker XAG saw its overseas business revenue increase 128% in 2022, with its Southeast Asia and Latin America business growing 155% and 248% respectively, local media outlet Caixin reported on Tuesday.
Cao Nan, head of XAG’s overseas sales department, told the outlet that the firm is now eyeing expansion into Vietnam and Brazil, the former a global top three rice exporter and the latter a major soybean exporter.
Guangzhou-based XAG did not disclose specific sales totals for its 2022 overseas business, but a previously filed prospectus shows that in the first half of 2021, overseas revenue reached RMB 19.09 million ($2.79 million), which was 75% of its full year overseas revenue in 2020.
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