On the evening of October 27, China International Maritime Container (Group) Co., Ltd. (hereinafter referred to as " CIMC Group ") released its third quarter report for 2022. Data shows that CIMC Group achieved operating income of RMB 109.133 billion in the first three quarters of 2022, a year-on-year decrease of 7.70%; net profit attributable to parent company shareholders and other equity holders was RMB 3.118 billion. In the third quarter, CIMC Group's net profit attributable to parent company shareholders and other equity holders after deducting non-recurring gains and losses reached RMB 1.8 billion, a month-on-month increase of 58%.
Due to the abnormally sudden shipping situation in 2021, benefiting from the influence of related industries in the shipping chain, CIMC Group's revenue and net profit reached the highest level in the same period in history, with annual revenue exceeding 100 billion for the first time, with a year-on-year increase of more than 70%. In 2022, affected by the return of shipping and container business to normal cycle trends, CIMC 's revenue and profit fell year-on-year, but it was still higher than the level in 2020 and before. The revenue in the first three quarters exceeded 100 billion yuan, which was at a historical high. Most of the main businesses showed good growth or stable development trends, and the profit status of the container business was also higher than the historical average, showing the development resilience brought by CIMC's diversified business.
CIMC Group's industrial cluster mainly covers logistics, energy, etc.
focuses on its main business, and its container manufacturing business has gone from "two-wheel drive" to "star drive"
CIMC Group is a world-leading equipment and solutions provider in the logistics and energy industry. industry cluster mainly covers the logistics and energy industry fields. In the logistics field, the company focuses on containers, road transport vehicles, airports and logistics equipment/firefighting and rescue equipment business, and provides products and services in the field of logistics professional fields with logistics service business and circular vehicle business.
2021 is the super cyclical year for the global container transportation market. The hot collection transportation market has pushed the container manufacturing sector to a high level. Since the beginning of this year, the container transportation industry has generally continued the market since the second half of last year. It began to fluctuate and fluctuate after reaching its peak at the beginning of this year. Especially due to the superposition of factors such as high inflation rates in European and American countries, geopolitical conflicts in some regions, and the continued spread of the epidemic, the container market has gradually returned to normalization, and the impact of performance declines is also in line with the overall market expectations.
As demand for shipping containers gradually returns to normal, CIMC's container manufacturing business saw a decline in production and sales in the first three quarters of 2022 compared with the historical high of last year, but it still maintained good profitability. Among them, the cumulative sales of dry goods containers was 1.0116 million TEU, and the cumulative sales of refrigerated containers were 100,800 TEU. At the same time, CIMC's container manufacturing business plan has been upgraded from "dual-wheel drive" to "star-driven" development strategy. Through focusing, integration, optimization and other methods, traditional container business is formed as the basis for the traditional container business, and business such as construction technology, marine cold chain technology, new materials and future new energy technology are the galaxy mutual drive development architecture of the satellite sector.
CIMC container manufacturing business in the first three quarters of 2022 saw a decline in production and sales volume compared with the historical high of last year, but it still maintained good profitability.
From January to September 2022, CIMC road transport vehicle business achieved operating income of RMB 17.406 billion, and achieved net profit attributable to shareholders of CIMC vehicle after deducting non-recurring gains and losses of RMB 660 million, increased by 19.66% year-on-year. A total of 112,039 vehicles per set are sold in all types of vehicles worldwide.
Among them, the sales revenue of vehicle in overseas markets reached RMB 9.334 billion, a significant increase of 81.41% year-on-year, highlighting the resilience and advantages of trans-ocean operations. Due to the increase in sales of high-gross profit products in North America, the overall profitability of the road transport vehicle business in the first three quarters of 2022 was improved, and the gross profit margin increased by 1.55 percentage points year-on-year. Entering the fourth quarter of 2022, with the recovery of domestic infrastructure investment, the implementation of policies to stabilize growth, and the implementation of the policy of phased reduction and exemption of road truck tolls, China's special vehicle market also has the opportunity to recover.
From January to September 2022, CIMC logistics service business, CIMC Worldwideda multimodal transport business volume achieved growth, and operating income maintained steady growth. The company is actively facing industry changes, continuously strengthening the service capabilities and stability of global logistics, and greatly improving its market competitiveness.According to statistics from domestic freight forwarding logistics companies in China Association of International Freight Forwarding (CIFA), CIMC Worldwide comprehensive data rose from 10th in 2020 to 6th in 2021, which can provide customers with comprehensive coverage of routes such as North America, Latin America, Europe, Australia and New Zealand, South Asia, Southeast Asia, Africa, etc.
From January to September 2022, CIMC helped automobiles, chemicals, new energy, modern agriculture, commodity and other industries to reduce one-time packaging in the process of product flow, realize the recyclable, digital and intelligent packaging, help the industrial supply chain be safer and more efficient, and significantly reduce carbon emissions.
The energy market is in high prosperity, with new orders hitting a new high
From January to September 2022, CIMC Energy, chemical and liquid food business main business CIMC Anruike achieved a year-on-year increase of 10.66% to RMB 14.219 billion; overall orders in hand were approximately RMB 17.37 billion, a year-on-year increase of 39.16%; new orders were RMB 15.394 billion, a year-on-year increase of 10.62%.
The recent complex international situation has brought about changes in the global energy landscape. Thanks to the solid foundation in the overseas market in the early stage, CIMC Anruiko Clean Energy has benefited from it. In the first three quarters, new overseas orders for the clean energy branch's onshore business increased by 103.5% year-on-year to RMB 1.85 billion.
In the third quarter, CIMC Anruike successfully won the bid for 3,000 uranium hexafluoride storage and transportation container orders for European customers, creating the largest number and amount of nuclear fuel transportation business; it won the order for natural gas long-distance pipeline and low-temperature storage tank project of African customers with an amount of nearly RMB 500 million, helping customers export energy to European and other markets.
hydrogen energy business has also made good progress. During the period, CIMC Anruike equipped Hong Kong's first hydrogen energy bus with a Type IV vehicle-mounted hydrogen supply system; delivered Type III vehicle-mounted hydrogen supply system to customers in batches many times; and provided multiple hydrogen energy solutions and related core equipment for the demonstration project of the zero-carbon distributed smart energy center of Yulin Science Innovation City. At the same time, the company actively expands the new energy storage equipment track, and provides multiple sets of high-pressure energy storage equipment for the first new carbon dioxide energy storage verification project in China during the period.
From January to September 2022, the global oil, gas and offshore equipment market has a more stable recovery process with the medium- and long-term support of oil prices. The demand for floating production equipment represented by floating production oil storage and oil unloading devices (FPSOs) has recovered rapidly. The market for offshore wind power is not affected by oil prices, and the overall development speed is relatively stable. CIMC's marine engineering equipment business added two new FPSO hull orders, with a total amount of US$1.3 billion. Together with other special ships and clean energy products, the cumulative new effective orders were US$2.16 billion, an increase of more than 50% year-on-year; the cumulative holdings were US$3.63 billion, an increase of more than 80% year-on-year.
It is worth mentioning that driven by the two major factors of car export boom and the replacement of automobile transport ships, a new round of "ship grabbing boom" has been set off in China. CIMC Raffles is a leading domestic marine engineering equipment provider and marine platform builder, and has an advantage in the field of roll-ro ship shipbuilding. CIMC Raffles added 6 new ro-roll ship orders in the first three quarters of 2022, with a total amount of approximately US$500 million. The orders have been scheduled to 2026, and the overall orders are full.
innovation-driven, igniting a new engine for business development
In recent years, with the continuous acceleration of urbanization, people have strong demand for cold chains for food and other industries. my country's cold chain logistics industry is in a critical period of development. At present, my country's cold chain equipment market is incomplete, and filling in the shortcomings of the cold chain logistics industry and providing cold chain logistics equipment solutions have become one of the development priorities of CIMC Group.
From January to September 2022, CIMC Group actively integrated its advantageous resources in the cold-related business sector and strengthened its strategic layout. CIMC cold box and refrigerated truck have competitive advantages and ranks among the top in product market sales. In recent years, the mobile cold storage solution, which is popular in recent years, uses container modules to combine them into mobile cold storage, providing innovative solutions for warehousing in the cold chain logistics industry, and solving the pain points of the "two kilometers in front and behind" cold chain logistics.
Based on the full-chain cold chain logistics equipment, CIMC Group continues to expand professional services in the pharmaceutical and fresh food fields.In terms of fresh cold chain, it has the end-to-end service capabilities of Southeast Asia cold chain, launched the Mohan route, introduced the peak season land transportation business of durian in the eastern and eastern and northern longans, and increased frozen products such as imported beef. Based on the existing advantages of cross-border import multimodal transport services, it actively explores cross-border export business, broadens export categories, and develops grape and citrus categories. Revenues in the pharmaceutical cold chain increased significantly compared with the same period last year.
From January to September 2022, CIMC's modular construction business has made significant progress in major domestic and foreign projects such as the city's Menlo Park hotel project in the United States, the transitional housing project in Yecheng Street, the Hong Kong City University project, and the prefabricated steel structure residential product system research and development project-Taicang CIMC Talent Apartment Project, and has received high praise from customers. The cumulative new orders at home and abroad were approximately RMB 1.21 billion, an increase of more than 40% over the same period last year.
In order to deal with the multi-point, frequent and changing COVID-19 epidemic, CIMC Modular Building has quickly developed a "own air conditioner" convenient nucleic acid sampling mobile workstation with "own air conditioner", covering an area of less than 5 square meters. While providing a comfortable working environment for medical staff, the ultraviolet disinfection system equipped can greatly ensure the safety of epidemic prevention workers.
From land to ocean, from logistics equipment to energy equipment, from manufacturing to services, CIMC Group is committed to improving the operating efficiency of world logistics and energy, and actively transforming and independent innovation. It is reported that CIMC Group will continue to focus on its main business in the future, continuously promote concept innovation, business innovation and management innovation, and work tirelessly to build a major country's heavy equipment, manufacture high-quality products, and create a better life, maintain excellent performance, continue to create value for shareholders, cooperate with customers for win-win results, and make more contributions to the sustainable development of society.
[Reporter] Ma Fang
[Component] Zhang Li
[Author] Ma Fang
[Source] Southern Media Group Southern + Client
