CIMC Revenue In The First Half Of The Year Increased By More Than 30%
On the evening of August 28, CIMC Group released its performance report for the first half of 2018. The report shows that in the first half of this year, the overall operating conditions of the whole group performed well, with an operating income of nearly 43.56 billion yuan, a year-on-year increase of more than 30%, and the net profit attributable to shareholders of the parent enterprise and other equity holders was about 965 million yuan. , a year-on-year increase of 21.14%. According to the analysis of the report, the main reason for the growth is that the global economy continues to maintain a moderate recovery trend, international trade continues to grow, and the growth of some regional markets in emerging economies rebounds.
From the perspective of various business segments under CIMC Group, most of the main businesses continued the growth momentum in the first quarter. Among them, the operating income of container and airport equipment business has achieved substantial growth, and the operating income of road transportation vehicles, energy, chemical and liquid food equipment, heavy trucks, and logistics service business has maintained a relatively stable growth. In terms of sub-regions, overseas revenue still accounts for more than 55%, of which China and the Americas have achieved substantial growth in revenue.
The revenue of the two largest business segments continued to grow, with an average of over 10 billion in half a year
In the first half of 2018, global trade continued to maintain a steady growth, and the volume of containerized shipments rose steadily. The good demand base enabled customers to maintain a strong purchase of new containers. In addition, with the completion of the water-based paint renovation of the production lines of each factory, the construction level of the factory has reached a new level, the container production capacity has further climbed and rebounded, and the relative balance of market supply and demand has also kept the container price stable.
Benefiting from this, in the first half of the year, CIMC's container business achieved an overall revenue of about 16.1 billion yuan, a year-on-year increase of more than 60%. Among them, the cumulative sales of ordinary dry cargo containers was 806,900 TEU (standard containers), a year-on-year increase of 50.63%; the cumulative sales of reefer containers was 76,600 TEU, a year-on-year increase of 118.23%. According to industry forecasts, global container trade and shipping capacity will maintain a relatively high growth rate in 2018. All major industry organizations said that the demand for containers throughout the year will remain at a good level. CIMC's container production and sales volume has ranked first in the world for 23 consecutive years, and it is the only enterprise in the world that can provide a full range of more than 300 container products. As CIMC further increases resource investment, the automation, informatization, digitization and green development of container business will be on the fast track.
In the first half of the year, CIMC's road transportation vehicle business continued to maintain a good growth trend, with a revenue of 11.53 billion yuan, a year-on-year increase of 18.62%, and a total sales volume of 92,001 units, a year-on-year increase of 12.93%. This is the first half-year performance of CIMC's vehicle business exceeding RMB 10 billion. The net profit was about 626 million yuan, a year-on-year increase of 10.24%.
In the domestic market, under the continuous influence of the new GB1589 issued by the state (“Limits for Dimensions, Axle Loads and Quality of Automobiles, Trailers and Motor Trains”), orders for the car carrier market have grown significantly. In addition, the increase in infrastructure projects has further boosted the demand for special-purpose vehicles. In overseas markets, CIMC Vehicles has always adhered to the business philosophy of "global operation, local wisdom", further expanded its strategic layout in overseas markets, and seized market opportunities in the economic recovery in North America, Europe and other regions. Among them, the strong growth of the US economy has made the demand for the renewal of marine skeleton vehicles strong, and the good economic growth of Eastern and Western Europe has also driven the demand for related vehicle products to grow.
In addition, the road transport vehicle business is also actively leading the industry to digitally upgrade the production line. Following the commencement of production at the Dongguan Lighthouse Factory, in 2018, CIMC Yangzhou Tonghua Lighthouse Factory and Zhumadian CIMC Huajun Lighthouse Factory were put into operation one after another, greatly changing the traditional The production and management methods have been greatly improved, and the production efficiency has been greatly improved to better meet the needs of customers.
Business sectors such as energy and chemical, logistics services, and airports continue to grow steadily
In the first half of the year, CIMC's energy, chemical and liquid food equipment business (with CIMC Enric as its main operating platform) achieved revenue of approximately 6.186 billion yuan, a year-on-year increase of 22.23%. Among them, the revenue of energy equipment business was 2.516 billion yuan, an increase of 16.26% year-on-year; the revenue of chemical equipment business was 1.7 billion yuan, a year-on-year increase of 24.64%; the revenue of liquid food equipment business was 1.410 billion yuan, an increase of 28.41% year-on-year.
The growth was mainly attributable to the rapid growth of natural gas consumption in the first half of the year under the background of the continuous recovery of international oil prices and strict environmental protection requirements. In addition, CIMC's energy, chemical and liquid food equipment business is actively committed to "realizing quality growth", strengthening core technology reserves and enhancing business competitiveness. CIMC Enric has carried out a number of R&D projects, such as large-scale LNG marine fuel tanks, new LNG filling stations, and safe liquefied gas transport semi-trailers with new structures, new standards and new materials; Gas station research and development, marine LNG fuel equipment and supply system development; actively expand research and development projects in the field of new energy, such as hydrogen energy upstream, midstream and downstream equipment and technology research and development projects.
CIMC's offshore engineering business (CIMC Raffles as the main operating platform) was still at a loss in the first half of the year due to the continuous downturn in the industry, but the industry has gradually bottomed out. Thanks to OPEC production cuts exceeding expectations, the crude oil market has maintained a good upward momentum as a whole, and the international oil price has returned to the level of 70 US dollars per barrel. In the long run, the crude oil market is still in a slow recovery and rising demand; the global offshore engineering equipment operation market continues Moderate recovery trend, equipment utilization rate further improved. The effective orders and new orders of CIMC Raffles continue to increase. For example, the life platform CR600 with completely independent intellectual property rights has completed the inspection of the Brazilian oil and executed the oil lease. The new FPSO (floating oil storage unit) order was officially received at the end of March this year. Construction started. The Norwegian Nordlaks deep-water aquaculture vessel order valued at US$106 million, which took effect in February 2018, and other new orders, such as 800-passenger ships, marine ranching platforms, and deep-sea cages, totaled US$25 million.
CIMC Raffles has insisted on independent innovation for many years and has achieved fruitful results. Last year, the "Blue Whale No. 1" attracted much attention. Platform", and Asia's largest super luxury yacht "Fantasy", which completed its maiden voyage in August. The actions of CIMC Raffles to explore innovation in the marine industry have also attracted the attention of national leaders. On June 13, 2018, General Secretary Xi Jinping visited the Yantai Base of CIMC Raffles Offshore Engineering Co., Ltd. The road of innovation and development and the independent design, development and manufacture of high-end offshore engineering equipment have left deep expectations for CIMC Offshore.
CIMC Logistics Services achieved revenue of 4.06 billion yuan, a year-on-year increase of 8.3%, mainly due to the substantial increase in revenue from rail-water combined transportation. CIMC's Kaitong Logistics Development Co., Ltd. closely follows the national "One Belt, One Road" strategy and established a joint venture platform enterprise for international trains. From January to June, a total of 53 inbound and outbound trains were operated, and the container transportation volume was 5,315 TEUs. The three passages of the east, the west and the east are fully covered; the subsidiary China World Transport (Beijing) International Logistics Co., Ltd. continues to focus on and develop automobile logistics, cold chain logistics, project logistics multimodal transport and other fields, and improve the network layout at home and abroad. It is particularly worth mentioning that in the first half of the year, in-depth cooperation with China Railway Special Cargo Logistics enterprise achieved a major breakthrough in the field of international passenger vehicle transportation, and successfully became the logistics supplier of BMW, Volvo and other international automobile giants.
CIMC's heavy-duty truck business (the main operating platform of C&C Heavy Industries) made a beautiful turnaround in the first half of the year, with sales of 5,523 units, a year-on-year increase of 24.45%, and sales revenue of 1.62 billion yuan, a year-on-year increase of 26.26%. The net profit achieved a turnaround. for profit. According to the analysis of the report, the growth of heavy trucks is mainly attributable to the steady growth of fixed asset investment in infrastructure construction, and the replacement of domestic sedan vehicles and National III diesel vehicles. At the same time, CIMC United Heavy Industry has also implemented an active market strategy, and has formulated a special policy support for the regional main products “one store, one policy” for the domestic market, and has also developed Shenzhen muck trucks, natural gas port trucks, Coal-pulling trucks, new energy electric trucks and other adaptive models; in the international market, on the basis of opening up the Southeast Asian market and the Central Asian market from border trade, it has also opened up emerging markets such as Poland and Mongolia, initially reversing the single market channel situation in the past.
The airport equipment business achieved substantial growth in the first half of the year, with sales revenue of 1.75 billion yuan, a year-on-year increase of 48.12%. In the first half of 2018, CIMC's airport equipment business achieved an important layout in the capital market. CIMC injected its Pteris (Deli International), which is mainly engaged in airport equipment, into China Fire Protection and became the controlling shareholder of China Fire Protection, a Hong Kong-listed enterprise (immediately afterwards). Renamed as CIMC Tianda), CIMC Tianda has become another independent financing platform controlled by CIMC Group. CIMC-TianDa's main business includes airport equipment business (including GSE business), fire and rescue vehicle business, automated logistics system business and intelligent parking business. In addition, in order to better deploy the fire protection business, CIMC Tianda also planned to acquire a 60% stake in Shenyang Jietong in July. This enterprise has the largest domestic market share in the fire truck market and further promotes its business layout.
In addition, the industry-city business has signed strategic cooperation agreements on industry-city integration projects with multiple governments, laying a solid foundation for the sustainable development of the business. The operational efficiency of CIMC's financial business, which serves the development of the industry, continued to improve, maintaining a safe and stable development as a whole.
Further expansion of new businesses such as modular buildings and multimodal transport
In addition to the eight business segments, CIMC's innovative business has also continuously achieved new development. Modular buildings are further developed in the international market. The UK hotel market has completed the preliminary design of several projects, and is expected to form batch orders within this year. The delivery of the Newcastle University student apartment project has further expanded its market influence; the US market successfully delivered the first Projects; Australia and New Zealand markets have officially entered the field of high-rise hotels and government public safety service facilities; Nordic Iceland market has successfully achieved breakthroughs in qualification access and intended orders; African market, Djibouti project has been completed.
In China, the modular building has successfully delivered the hotel and corporate office building projects of the Xiong'an Citizen Service Center with a high level of "Xiongan Speed" and "Xiongan Quality", and has now been put into use. At the same time, the technology access to the Hong Kong market was promoted in an orderly manner, and the landmark Hong Kong Zero Carbon World Project was achieved, achieving zero breakthrough in another market segment. In addition, the "Technical Regulations for Box-Type Steel Structure Integrated Building" completed by Modular Building and China Engineering Construction Standardization Association is expected to be promulgated and implemented within the year as planned.
In the first half of the year, the business development of CIMC Multimodal Transportation enterprise was further accelerated. The advantages of the business layout of the coordinated development of various transportation modes such as road, rail and water were gradually reflected, and the operation efficiency was gradually improved. In terms of channel network layout, CIMC Multimodal Transport Co., Ltd. seized the opportunity of railway freight reform and continued to improve the layout of railway container trains. The business has covered East China, South China, Central China, Southwest China, Northwest China, North China and other regions; at the same time, controllable The rapid increase in shipping capacity facilitates the construction of shipping platforms, and promotes the integration and efficiency improvement of coastal bulk shipping business. The optimization of the business operation management platform was accelerated, and the application of new technologies such as mobile Internet and Internet of Things in actual business was continuously promoted.
In the second half of 2018, CIMC will continue to adhere to the strategic positioning of "manufacturing + service + finance", focus on intelligent manufacturing and intelligent logistics, promote business transformation and upgrading, and be guided by customer needs, extend from manufacturing to service, and provide a full range of products. A comprehensive solution for the life cycle. Continue to improve global operational capabilities, optimize business and assets, accelerate industrial agglomeration, and cultivate industrial chain advantages; continue to innovate and control risks in terms of technology upgrades, business models and management mechanisms; strive to grasp market changes, deploy emerging industries and innovative businesses, and achieve sustainable development Quality growth.
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