Lonking Holdings, the mainland's largest maker of four-wheeled earthmovers, said it would explore emerging markets as it embarks on efforts to expand internationally. The Hong Kong-listed construction equipment maker's goal is to earn six billion yuan (HK$6.81 billion) of its revenue from foreign markets by 2015, or 30 per cent of the total. By 2020, it hopes to sell 13 billion yuan of products abroad, accounting for 50 per cent of the total. 'In terms of quality and technology, we are almost on an equal footing with foreign rivals,' Lonking chief executive Qiu Debo said on Friday. 'We have an edge over them in terms of pricing, but it will be some time before we build up Lonking's brand awareness overseas.' Mr Qiu said the company would initially focus on markets including Russia, Brazil, Mexico and the Middle East as it tries to compete with its international rivals. Beijing's four trillion yuan stimulus has helped mainland building equipment makers offset the negative effects of the global downturn. Mr Qiu said Lonking was well on its way to meeting the 2010 target as the nation's massive investment in infrastructure projects had resulted in higher demand for construction machines. 'Sales in June jumped 20 per cent from the same period a year ago, and we believe the business will continue to improve in the second half,' he said. Lonking expected sales to reach 35,000 units this year, almost unchanged from last year. Mr Qiu admitted sales in the first five months dropped year on year because the stimulus package had yet to take effect. Lonking has 20 per cent of the domestic market. The Fujian-based firm, which owns four production bases in Shanghai, Fujian, Henan and Jiangxi, and Guangxi Liugong Machinery are the two biggest players in the mainland's wheel loader market. It is now the only mainland construction machinery maker traded in Hong Kong. Mr Qiu said the company had no immediate plans to launch an A-share initial public offering since its financial position was strong enough to support future expansion. 'We won't consider an A-share listing for three years,' he said. 'When our overseas sales take off, we will probably need to think about fund-raising plans.' He also said Lonking hoped to fine-tune its machinery part operations and become a key supplier to overseas equipment makers.