XAG Reports 30% Profit Margin, Launches New Drone, Expands Service Network
XAG, a leading agrotechnology company, has reported a remarkable profit margin of over 30%, demonstrating resilience despite a decline in drone prices. The firm, founded by Liang Xinjun and Peng Bin in 2013, continues to innovate and expand its market share.
XAG's latest drone, the XAG Ruiyun, has gained attention for its increased payload capacity. It can carry up to 65 kilograms, surpassing DJI's FlyCart 30. The company has also introduced a new service, reducing the price of its agricultural drone package to RMB 40,000 (USD 5,600).
XAG aims to strengthen its service network. By 2024, it plans to open more than 300 authorized service stations. This expansion follows a significant domestic inventory of 121,000 plant protection drones.
The company's success has not gone unnoticed by competitors. DJI, another leading manufacturer, responded by lowering the price of its agricultural drones by RMB 8,000 (USD 1,120). As of late 2022, DJI Agriculture has sold 200,000 units globally, while XAG has sold 120,000 units.
XAG's recent developments, including the release of the XAG Ruiyun and the price reduction of its agricultural drone package, indicate a strategic push to capture a larger share of the market. With a robust domestic inventory and plans for extensive service station expansion, the company is well-positioned for future growth.
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