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CIMC's revenue increased by more than 30% in the first half of the year

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[Abstract]:
OntheeveningofAugust28,CIMCreleasedthefirsthalfof2018performancereport.ThereportshowsthattheoveralloperatingconditionsoftheGroupinthefirsthalfofthisyearperformedwell,achievingoperatingincomeofnearly43

On the evening of August 28, CIMC released the first half of 2018 performance report. The report shows that the overall operating conditions of the Group in the first half of this year performed well, achieving operating income of nearly 43.56 billion yuan, a year-on-year increase of more than 30%, and net profit attributable to shareholders of the parent company and other equity holders was approximately 965 million yuan. , an increase of 21.14%. According to the report, the reason for the increase is mainly due to the fact that the global economy continues to recover moderately, international trade continues to grow, and regional market growth in emerging economies rebounds.

 

Judging from the business segments of CIMC, most of its main business still continued its growth momentum in the first quarter. The operating income of the container and airport equipment business has increased substantially. The operating income of road transport vehicles, energy, chemical and liquid food equipment, heavy trucks and logistics services business has maintained steady growth. In terms of regions, overseas revenues still accounted for more than 55%, with revenues in China and the Americas increasing significantly.

 

The revenues of the two largest business segments maintained their growth momentum.

 

In the first half of 2018, global trade continued to grow steadily, container shipping volume increased steadily, and a good demand base enabled customers to maintain strong purchasing power for new boxes. 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 up, and the relative balance between supply and demand in the market has also kept the price of the box stable.

 

 

Benefiting from this, in the first half of the year, CIMC's container business achieved an overall revenue of approximately 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), an increase of 50.63% over the same period of last year; the cumulative sales of reefer containers was 76,600 TEUs, an increase of 118.23%. According to industry forecasts, global container trade and capacity will continue to maintain relatively high growth rates in 2018. Major industry organizations have indicated that container demand will remain at a good level throughout the year. CIMC's container production and sales volume has ranked first in the world for 23 consecutive years, and is the only company in the world that can provide a full range of more than 300 container products. As CIMC further increases its resource input, the automation, informationization, digitization and green development of the container business will be on the fast track.

 

The CIMC road transport vehicle business continued to maintain a good growth in the first half of the year, with revenue of 11.53 billion yuan, an increase of 18.62% over the same period of last year. The total sales volume was 9,2001 units, an increase of 12.93% year-on-year. This is the first half-year performance of CIMC's vehicle business exceeding 10 billion. Net profit was approximately 626 million yuan, a year-on-year increase of 10.24%.

 

 

 

In the domestic market, the new GB1589 ("Automotive, trailer and car train profile size, axle load and quality limit") issued by the state continued to influence, and the order of the car market increased significantly. In addition, the increase in infrastructure projects has further spurred the demand for engineering vehicles. In the overseas market, CIMC's vehicle business 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 of North America and Europe. Among them, the strong growth of the US economy has made the demand for marine skeleton vehicles renewed, and the good growth of the East and West economies has also driven the growth of demand for related vehicle products.

 

 

In addition, the road transport vehicle business is also actively leading the industry to digital upgrade of the production line. After the Dongguan Lighthouse factory was put into production, in 2018, the CIMC Yangzhou Tonghua Lighthouse Factory and the Zhumadian CIMC Huajun Lighthouse Factory were put into production, which greatly changed the tradition. The production and management methods have greatly improved production efficiency and better met the needs of customers.

 

 

Business segments such as energy, logistics services and airport continued to grow steadily

 

 

In the first half of the year, CIMC's energy, chemical and liquid food equipment business (based on CIMC Enric's main operating platform) achieved revenue of approximately 6.186 billion yuan, a year-on-year increase of 22.23%. Among them, energy equipment business revenue was 2.516 billion yuan, up 16.26% year-on-year; chemical equipment business revenue was 1.7 billion yuan, up 24.64% year-on-year; liquid food equipment business revenue was 1.40 billion yuan, up 28.41% year-on-year.

 

 

The increase was mainly attributable to the rapid growth of natural gas consumption in the first half of the year in the context of the continued recovery of international oil prices and stringent environmental requirements. In addition, CIMC Energy, Chemicals and Liquid Food Equipment Business is actively committed to “achieve quality growth”, strengthen core technology reserves and enhance business competitiveness. CIMC Enric has carried out a number of R&D projects, such as large LNG marine fuel tanks, new LNG filling stations, new structure and new standards, new materials and safety liquefied gas transport semi-trailers, etc.; developed an armored LNG plus for the international market. Gas station research and development, marine LNG fuel equipment and supply system development; actively expand new energy research and development projects, such as hydrogen energy upstream and downstream equipment and technology research and development projects.

 

CIMC's offshore engineering business (CIMC Raffles is the main operating platform) was still in a loss-making state due to the continued downturn in the industry in the first half of the year, but the industry has gradually bottomed out. Thanks to OPEC's production cuts exceeding expectations, the crude oil market maintained a good upward trend overall, and the international oil price recovered to the level of US$70/barrel. In the long run, the crude oil market is still slowly recovering and the demand is on the rise; the global offshore engineering equipment operation market continues. Moderate recovery and equipment utilization have further improved. CIMC Raffles' effective orders and new orders have been increasing. For example, CR600, which has completely independent intellectual property rights, completed the Pakistani oil testing and executed the Bazhou oil lease. The new FPSO (floating oil storage device) orders were officially launched at the end of March this year. Construction started in February 2018 with a value of US$106 million for Norwegian Nordlaks deepwater culture vessels. Other new effective orders such as 800 passenger ships, marine ranch platforms and deep sea cages totaled US$25 million.

 

 

CIMC Raffles has been adhering to independent innovation for many years and has achieved fruitful results. Last year, “Blue Whale No. 1” received much attention. This year, it launched a number of innovative products, such as “Sea Kitchen for Banquet Service for Shanghe Qingdao Summit”. "Platform", as well as Asia's largest super luxury yacht "Fantasy" built in August. The move by CIMC Raffles to explore the innovation of the marine industry has also attracted the attention of the leaders of the country. On June 13, 2018, General Secretary Xi Jinping came to the Yantai Base of CIMC Raffles Ocean Engineering Co., Ltd. to learn more about the independence of CIMC. The road of innovation and development, the independent design and development of high-end marine engineering equipment, and the deep expectations of CIMC Offshore.

 

 

CIMC Logistics Services achieved revenue of 4.06 billion yuan, an increase of 8.3% year-on-year, mainly due to the substantial increase in revenue from the combined service of iron and water. Kaitong Logistics Development Co., Ltd., a subsidiary of CIMC, followed the national “Belt and Road” strategy and established an international joint-venture platform company. In January-June, it opened 53 classes of outbound trains, completed container cargo volume of 5,315 TEUs, and realized the Central European class. The three channels of the East and West are fully covered; the Zhongshiyun (Beijing) International Logistics Co., Ltd. continues to focus on the areas of automobile logistics, cold chain logistics, and project logistics multimodal transportation to improve the network layout at home and abroad. It is particularly worth mentioning that in the first half of the year, we cooperated deeply with China Railway Special Car Logistics Co., Ltd. to obtain a major breakthrough in the field of international passenger car transportation and successfully become a logistics supplier for international auto giants such as BMW and Volvo.

 

 

In the first half of the year, CIMC's heavy-duty truck business (Joint Heavy Industry's main operating platform) made a beautiful turnaround, completed sales of 5,523 units, an increase of 24.45% over the same period of last year, and sales revenue of 1.62 billion yuan, an increase of 26.26% year-on-year. For profit. According to the report, the growth of heavy trucks was mainly due to the steady growth of investment in infrastructure-based fixed assets, the upgrading of domestic sedan vehicles and the national diesel vehicles. At the same time, CIMC United Heavy Industries also implemented a proactive marketing strategy, and formulated a special policy support for the regional first-selling products “one shop and one policy” for the domestic market. At the same time, it developed the Shenzhen muck truck, natural gas port car, and low roof. Adapting models such as coal cars and new energy electric trucks; on the international market, opening up the Southeast Asian market and the Central Asian market from the border trade, and opening up emerging markets such as Poland and Mongolia, initially reversing the situation of single market channels in the past.

 

 

In the first half of the year, the airport equipment business achieved a substantial growth, achieving sales revenue of 1.75 billion yuan, up 48.12% year-on-year. 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 Firefighting and became the controlling shareholder of Hong Kong listed company China Fire Protection (ie Renamed as CIMC Tianda), CIMC Tianda is another independent financing platform controlled by CIMC. 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 layout the fire protection business, CIMC Tianda also plans to acquire a 60% stake in Shenyang Jietong in July. This company has the largest domestic market share in the high fire truck market and further promotes the business layout.

 

 

In addition, the production city business and the multi-government government signed a strategic cooperation agreement for the production city integration project, which laid a good foundation for the sustainable development of the business. The operational efficiency of CIMC Financial Services, which serves the development of the industry, continues to improve, and the overall security and steady development.

 

 

New business landscapes such as modular buildings and multimodal transport are further expanded

 

In addition to the eight business segments, CIMC's innovative business has continued to achieve new developments. The modular building has been further developed in the international market. The UK hotel market has completed the preliminary design of several projects and is expected to form bulk orders during the year. The delivery of the Newcastle University student apartment project has further expanded the market influence; the US market successfully delivered the first The project; the Australian and New Zealand markets have officially entered the high-end hotel and government public safety service facilities; the Nordic Icelandic market successfully achieved breakthroughs in qualification access and intention orders; in the African market, the Djibouti project was completed.

 

 

In China, modular buildings have successfully delivered the hotel and corporate office projects of the Xiong'an Citizen Service Center with high-level “Xionan Speed” and “Xiongeng Quality”, which are currently in use. At the same time, we will promote the technical access of the Hong Kong market in an orderly manner and achieve the iconic Hong Kong Zero Carbon World Project, achieving zero breakthrough in another market segment. In addition, the "Technical Regulations for Integrated Construction of Box Steel Structures" completed by Modular Building and China Engineering Construction Standardization Association is expected to be promulgated and implemented within the plan.

 

 

In the first half of the year, the business development of CIMC Multimodal Transportation Company was further accelerated, and the business layout advantages of the coordinated development of various transportation modes such as public iron and steel were gradually reflected, and the operational efficiency was gradually improved. In terms of channel network layout, CIMC Multimodal Transport Company seized the opportunity of railway freight reform and continued to improve the layout of railway container trains. The business has covered areas such as East China, South China, Central China, Southwest China, Northwest China and North China. At the same time, it can be controlled. The rapid increase in shipping capacity has helped the construction of ship transportation platforms and promoted the integration and efficiency of coastal bulk cargo transportation business. The business operation management platform accelerates optimization and continuously promotes the application of new technologies such as mobile Internet and Internet of Things in actual business.

 

In the second half of 2018, CIMC will continue to adhere to the strategic positioning of “manufacturing + service + finance”, focusing on intelligent manufacturing and smart logistics, promoting business transformation and upgrading, focusing on customer demand, extending from manufacturing to service, providing products. A comprehensive solution for the life cycle. Continue to enhance global operational capabilities, optimize business and assets, accelerate industry concentration, and foster industry chain advantages; continuously innovate and control risks in technology upgrades, business models and management mechanisms; strive to grasp market changes, deploy emerging industries and innovative businesses, and achieve sustainability There is quality growth.