News Release


CIMC Welcomes Best First Quarter Ever with Revenue of 28.9 Billion and Net Profits of 1.5 Billion



On the evening of April 27, China International Marine Containers (Group) Co., Ltd (hereinafter referred to as "CIMC", stock code: 000039.SZ\2039.HK) officially released its company performance report for the first quarter of 2021.

According to the report, CIMC earned revenue of 28.864 billion yuan in the first quarter, up 82.08% year on year. The net profit attributable to shareholders and other equity holders of the parent company (hereinafter referred to as "net profit attributable to the parent") reached RMB 1.507 billion, which turned from loss to profiting compared with the same period last year, with a year-on-year increase of 334.99%, marking the best first quarter in the history of CIMC.

Economic recovery boosted demand for international trade, which has led to higher container trading volumes and prices

In the first quarter of 2021, while COVID-19 was still spreading around the world, the global economic recovery accelerated as a result of the vaccination programs and the economic rescue programs in Europe and the United States. The international trade has maintained a booming trend, China's economy got off to a good start, and the demand for containers remained at a high level. The IMF's latest World Economic Outlook forecasts a global GDP growth of 6% for 2021. China's GDP grew by 18.3% in the first quarter from a year earlier, according to data released by the National Bureau of Statistics on April 16th.

In the first quarter, CIMC's cumulative sales volume of dry cargo containers reached 450,800 TEU, up about 174.04% year on year. The accumulative sales volume of refrigerated containers was 45,900 TEU, up about 82.14% year on year. The huge trade demand has driven the sales volume and revenue of CIMC's container manufacturing business to grow substantially.

Diversified business layout still shows its advantages, and the main business in the logistics field has achieved significant growth

According to the report, CIMC's container business grew significantly in the first quarter of 2021, and the company's road transport vehicle business and energy/chemical/liquid food business have received a large number of orders, and all businesses have been carried out smoothly.

Among them, the operating revenue of CIMC's road transport vehicle business increased significantly in the first quarter of 2021. The strong demand in the domestic market has led to steady growth in sales and revenue of CIMC's related vehicle products. Meanwhile, the semi-trailer sales in overseas market rebounded significantly.

Airports around the world actively carried out various renovation, replacement and maintenance projects in the first quarter, which led to an increase in new orders of CIMC's airport, fire rescue equipment and automated logistics system business. CIMC's fire and rescue equipment business continued to promote integrated sales, consolidating its leading position in the domestic market. The rapid recovery of domestic e-commerce industry in the first quarter also promoted the revenue growth of CIMC's automated logistics system business.

The strong momentum of global economic recovery has led to an obvious recovery of the logistics industry, and the business volume and operating income of CIMC logistics showed a positive growth trend in the first quarter of 2021. Based on the domestic market, CIMC's unit vehicle business has vigorously expanded the leasing and operation business of bulk commodities, new energy and fresh agricultural products, and realized cooperation with a number of strategic clients.

Harvested a large number of orders from businesses in the energy sector, making the future of clean energy investment brighter

In the energy sector, the clean energy, chemical environment and liquid food businesses of CIMC Enrico (the main operating body of CIMC's energy, chemicals and liquid food businesses) saw significant year-on-year growth in the first quarter of 2021, and the overseas business revenue also showed a significant year-on-year growth. New orders signed in the first quarter of 2021 reached RMB 3.9 billion, up 39% year on year. By the end of March 2021, CIMC Enric's overall order book was about 11.6 billion yuan, up 17% year on year.

In terms of offshore engineering business, CIMC's offshore engineering business has signed a total of $320 million of new orders in the first quarter of 2021, and the cumulative order book reached $1 billion. With non-oil and gas orders accounting for more than 82% of these orders, CIMC has started to operate the offshore wind farm installation business. CIMC will use this as an opportunity to further expand new business and build a counter-cyclical business presence in the offshore energy sector, so as to promote the revitalization of inventory assets and increase operating income.

Finance supported manufacturing, and innovative business has achieved outstanding results

In the first quarter of 2021, the total amount of new financial investment of CIMC Finance Company exceeded RMB 2.25 billion, which has effectively promoted the efficiency and performance of the group's fund management and provided financial assistance to related enterprises.

CIMC Financing Leasing Co., Ltd has been adhering to the strategic positioning of "coordinated development of the financial industry and the real industry", and further strengthened the operational and financial coordination for the group's manufacturing industry. This will boost the development of the Group's manufacturing business and facilitate it to actively promote innovative leasing mode with the Group's strategic new industrial sectors such as unit vehicles and cold chain.

The constantly improved economic environment and the support of finance make CIMC's innovative enterprises achieve good results.

In the first quarter, the cold chain business of CIMC accelerated the logistics construction of agricultural products storage and fresh-keeping cold chain with modular portable cold storage, and quickly laid out the cold chain front-end warehouse for community group purchase. A total of 23,000 square meters of storage space was laid out in 65 cities across the country. CIMC's cross-border cold chain logistics business has developed rapidly. In the first quarter, CIMC Cold Cloud Supply Chain Management (Beijing) Co., Ltd completed more than 50 domestic transportation trips of COVID-19 vaccine and safely and efficiently escorted the Chinese vaccine to many countries. CIMC Modular Building only spent 70 days to complete the first phase of the 1.5 level enterprise port in Haikou Jiangdong New Area, which once again renewed the construction speed of CIMC Modular Building.

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