On the occasion of presenting a suite of new XAG innovations to the attendees, Peng said the past decade had witnessed ever-growing influence and adoption of the company's products.
The company appears to be staging a comeback by repairing damages to its valuation and reviving aspirations to seek a listing on a domestic bourse.
While still reeling from the aftershocks of its failed IPO, XAG has been struggling to recuperate its strengths.
As youngster flock to cities in search of work, leaving behind their aging parents often known as "empty nesters," China's agricultural sector is in greater need of new technologies and machinery to take care of the often tedious and back-breaking farm work.
Justin Gong, co-founder of XAG, said that the only solution for future agriculture is to foster more technological application, more product innovation and more partnerships at a time when food security has emerged as a common challenge for mankind.
The report pointed out that with the world's population now exceeding 8 billion, rising demand for food worldwide has exacerbated ecological degradation and the depletion of natural resources.
A number of technologies such as drones and intelligent vehicles are increasingly changing the face of the centuries-old tradition, helping relieve the pressure of Chinese farmers.