Hanma Technology
Corporate brand
UnclaimedHanma Technology is a Chinese manufacturer of heavy trucks, truck-based special vehicles, engines, axles, and related commercial-vehicle components, marketed internationally under the CAMC name.
Last updated October 14, 2026
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Overview
Hanma Technology Group Co., Ltd., formerly known as Hualing Xingma Automobile (Group) Co., Ltd., is a Chinese commercial-vehicle manufacturer based in Ma'anshan, Anhui. The company produces heavy trucks, special-purpose vehicles built on truck platforms, diesel engines, axles, and other vehicle components. In markets outside China, its vehicles and marque are associated with the CAMC designation. The business is therefore both an industrial manufacturer and a vehicle brand, with its identity centered on heavy-duty road transport and specialized commercial applications rather than passenger cars. The company's roots extend to a Ma'anshan manufacturer established in 1970. That predecessor initially made machinery for the building-materials sector, then moved during the 1980s toward cement trucks and concrete mixer trucks. The present corporate entity was incorporated in 1999 as Anhui Xingma Automobile Co., Ltd. It entered China's public markets in April 2003 through a listing on the Shanghai Stock Exchange. The listing gave the company access to capital while it expanded from specialized construction-related vehicles into a broader heavy-truck business. A significant technical turning point came in 2003, when the company signed a long-term technical cooperation agreement with Japan's Mitsubishi Fuso. The first heavy-duty vehicle chassis developed through this expansion reached production in 2004. Hanma then began exporting heavy trucks in 2005, establishing an international commercial-vehicle presence. A second generation of heavy trucks was introduced in 2008. The company has also maintained technical cooperation with Isuzu, another Japanese vehicle manufacturer, supporting its development of heavy-duty products and powertrain-related capabilities. Corporate restructuring was a recurring feature of the company's development. Anhui Hualing Automobile became a subsidiary through an asset restructuring in March 2011. Following reincorporation in 2012, the company adopted the Hualing Xingma name and began producing and selling diesel engines in the same year. Its industrial structure subsequently included subsidiaries focused on vehicle assembly, powertrains, axles, and vehicle parts. The company reports a main plant of approximately 400,000 square metres, with stated annual capacity for 100,000 heavy trucks, 50,000 heavy special vehicles, and 50,000 engines, although capacity should not be read as actual annual sales. The company experienced financial pressure after the global financial crisis. Weak demand contributed to net losses in 2014 and 2015. It returned to profit in 2016 after shareholder investment, helping it avoid the then-applicable delisting consequence associated with three consecutive years of losses. A proposed restructuring involving Anliang Xiushan Construction Corporation in late 2015 did not produce a completed transaction. A later attempt to bring the state-owned China Hi-Tech Group Corporation into the shareholder structure and combine Hualing Xingma with Hubei Xinchufeng also failed in 2017 after the proposed acquisition became too complex and the parties did not establish sufficient investment safeguards. Ownership changed again in 2020. In late July, the Xingma Group agreed to transfer a substantial shareholding to Geely New Energy Commercial Vehicle Group, a wholly owned subsidiary of Geely Holding. Geely subsequently became the company's de facto controlling shareholder and is identified as the current controlling owner through its commercial-vehicle subsidiary. The change aligned Hanma Technology with Geely's wider push into commercial vehicles and new-energy transportation, while the company's established manufacturing base remained focused on heavy trucks, special vehicles, engines, axles, and related industrial products. Hanma Technology's market role is primarily that of a heavy-commercial-vehicle platform. Its products serve freight transport, construction, concrete and cement logistics, and other applications requiring high payload capacity or specialized equipment. CAMC-branded products are exported to several overseas regions, including Eastern Europe, North Africa, Southeast Asia, and South America. The company's present position combines a long-standing Anhui manufacturing heritage, a public-company structure, international technical partnerships, and ownership within the Geely commercial-vehicle group.
History
Hanma Technology's industrial ancestry dates to 1970, when a Ma'anshan manufacturer established a plant producing machinery for the building-materials industry. During the 1980s, the business increasingly concentrated on cement trucks and concrete mixer trucks, creating the specialized-vehicle foundation from which its later commercial-vehicle operations developed. The present corporate entity was incorporated in 1999 as Anhui Xingma Automobile Co., Ltd. It was listed on the Shanghai Stock Exchange in April 2003. Also in 2003, it entered a long-term technical cooperation agreement with Mitsubishi Fuso of Japan, marking a strategic move into heavy-truck production. The first heavy-duty vehicle chassis came off the production line in 2004, and the company began exporting heavy trucks in 2005. Its second-generation heavy trucks were launched in 2008. The business expanded and reorganized during the following decade. In March 2011, Anhui Hualing Automobile became a subsidiary through an asset restructuring. After reincorporation in 2012, the company adopted the Hualing Xingma name. It also began producing and selling diesel engines in 2012, broadening its activities from vehicle assembly into powertrain manufacturing. Its technical relationships included both Mitsubishi Fuso and Isuzu, while its operating structure developed subsidiaries dedicated to vehicles, engines, axles, and parts. The company was affected by the global financial crisis and later suffered from weak product demand. It posted net losses in 2014 and 2015, then returned to profit in 2016 following shareholder investment. The company also pursued several ownership and restructuring alternatives. A late-2015 asset reorganization involving Anliang Xiushan Construction Corporation did not succeed. In June 2017, China Hi-Tech Group Corporation was announced as a potential strategic shareholder through the transfer of a 15.24 percent stake from Xingma Group, alongside a proposed share-based acquisition of Hubei Xinchufeng. Hualing Xingma later said that complexities prevented the Hubei Xinchufeng acquisition, and CHTC cancelled the broader investment agreement in October 2017 because adequate safeguards for the investment had not been established. A further ownership transition took place in 2020. Xingma Group agreed to transfer a substantial stake to Geely New Energy Commercial Vehicle Group, a wholly owned Geely subsidiary. Geely became the de facto controlling shareholder and is identified as the current controlling owner through its commercial-vehicle group. The company was subsequently known as Hanma Technology Group Co., Ltd., while CAMC remained the designation used for the marque and products in international markets. Hanma Technology operates through production subsidiaries including Anhui Hualing Automobile, Anhui Xingma Automobile, Anhui Xingkaima Power, Anhui Hualing Axle, and Anhui Forma Automobile Parts. Its principal plant is described as covering about 400,000 square metres, with stated capacity for heavy trucks, special vehicles, and engines. The company exports CAMC-badged products to Eastern Europe, North Africa, Southeast Asia, South America, and other markets. Its historical specialization remains heavy trucks and truck-based special vehicles, supported by in-house or affiliated production of engines, axles, and components.
- 2020
Geely becomes de facto controlling shareholder
[1]Geely New Energy Commercial Vehicle Group agreed to acquire a substantial stake from Xingma Group and became the de facto controlling shareholder.
- 2017
CHTC restructuring and acquisition proposal cancelled
[1]The proposed CHTC investment and related Hubei Xinchufeng acquisition were abandoned.
- 2012
Hualing Xingma name adopted and diesel-engine production begins
[1]Following reincorporation, the company adopted the Hualing Xingma name and began producing and selling diesel engines.
- 2011
Anhui Hualing Automobile becomes a subsidiary
[1]Anhui Hualing Automobile joined the company through an asset restructuring.
- 2008
Second-generation heavy trucks launched
[1]The company introduced its second generation of heavy trucks.
- 2005
Heavy-truck exports begin
[1]The company started exporting heavy trucks to international markets.
- 2004
First heavy-duty vehicle chassis produced
[1]The company completed its first heavy-duty vehicle chassis, formalizing its expansion into heavy-truck manufacturing.
- 2003
Shanghai Stock Exchange listing and Mitsubishi Fuso cooperation
[1]The company listed on the Shanghai Stock Exchange and signed a long-term technical cooperation agreement with Mitsubishi Fuso.
- 1999
Anhui Xingma Automobile incorporated
[1]The present corporate entity was incorporated as Anhui Xingma Automobile Co., Ltd.
- 1980
Shift toward cement and mixer trucks
[1]During the 1980s, the predecessor increasingly focused on cement trucks and concrete mixer trucks.
Products and positioning
A Chinese heavy-commercial-vehicle manufacturer focused on durable freight trucks, construction and special-purpose vehicles, and vertically integrated powertrain and chassis components. Internationally, the company uses the CAMC designation and competes through industrial capacity, technical partnerships, and export reach.
Heavy commercial vehicles · 2004
CAMC heavy trucks
Heavy-duty trucks form the company's core vehicle line. They are designed for freight and industrial transport applications requiring high payload capability and durability. The company began developing heavy-truck chassis in the early 2000s, launched a second-generation truck range in 2008, and exports CAMC-badged heavy trucks to multiple overseas regions.
Special-purpose commercial vehicles
CAMC truck-based special vehicles
This category includes specialized vehicles built on heavy-truck platforms for construction, cement, concrete, and other industrial duties. It reflects the company's historical experience with cement trucks and mixer trucks and remains a major part of its manufacturing scope alongside standard freight vehicles.
Commercial-vehicle powertrains · 2012
Hanma diesel engines
The company began producing and selling diesel engines in 2012. These powertrain activities complement its truck manufacturing and contribute to a more vertically integrated commercial-vehicle operation serving heavy-duty and special-purpose applications.
Commercial-vehicle components
Hanma axles and vehicle parts
Hanma Technology's operating structure includes dedicated axle and parts subsidiaries. These components support its own heavy-vehicle production and form part of the company's broader industrial footprint in chassis and commercial-vehicle systems.
Brand decisions
2020
Geely takes control through its commercial-vehicle subsidiaryM&ABackground
Hualing Xingma was seeking a new strategic shareholder after earlier restructuring initiatives had failed.
Action taken
Xingma Group agreed to transfer a substantial shareholding to Geely New Energy Commercial Vehicle Group.
Aftermath
The Geely subsidiary became the de facto controlling shareholder, linking the company to Geely's commercial-vehicle group.
2017
Cancellation of proposed CHTC investment and Hubei Xinchufeng acquisitionM&ABackground
CHTC had been expected to acquire a stake in Hualing Xingma and participate in a share-based acquisition of Hubei Xinchufeng.
Action taken
The Hubei Xinchufeng acquisition was abandoned, and CHTC later cancelled the broader investment agreement.
Aftermath
The proposed state-owned-company-led restructuring did not proceed, leaving the planned ownership and asset combination unrealized.
2012
Expansion into diesel-engine productionStrategyBackground
After corporate restructuring and reincorporation, the company sought to broaden its commercial-vehicle manufacturing base.
Action taken
It began producing and selling diesel engines.
Aftermath
Engine manufacturing became part of the group's production structure alongside trucks, special vehicles, axles, and parts.
2003
Technical cooperation with Mitsubishi FusoStrategyBackground
The company was expanding from specialized construction-related vehicles into heavy-truck manufacturing.
Action taken
It signed a long-term technical cooperation agreement with Japan's Mitsubishi Fuso.
Aftermath
The cooperation preceded production of the company's first heavy-duty vehicle chassis in 2004 and its subsequent export expansion.
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