2025年前三季度，集团道路运输车辆业务的经营主体–中集车辆（集团）股份有限公司（中集车辆，证 券代码：301039.SZ），在全球销售各类车辆合计10.16万台，同比增长7.21%，实现营业收入人民币 150.12亿元，营收同比虽有所下滑，但第三季度环比保持正增长，持续保持复苏态势。全球半挂车业 务：国内市场方面，以"唯有星链"战略为指引，提升订单交付效率与强化集采保供能力，进一步夯实全 国统一大市场基础，前三季度中国半挂车业务营业收入同比提升16.3%，毛利率同比提升2.6个百分点。 海外市场方面，北美半挂车业务市场需求持续受到关税等扰动，但中集车辆仍保持战略定力，提升供应 链韧性，报告期内持续保持盈利；欧洲半挂车业务积极保障供应链稳定，聚焦大客户销售；全球南方半 挂车业务持续深耕，前三季度营收同比增长15.79%，销量同比增长21.39%，毛利率同比上升2.6个百分 点。上装业务（含EV•DTB）：前三季度，通过集团化作战体系，上装业务整体实现营收人民币23.33亿 元，同比稳健增长，持续发力新能源产品。纯电动头挂列车业务：完成对EV-RT2.0产品研发和运营体 系、产品交付和营销推广的硬实力和软实力构 ...

物流业务方面，全球商品贸易增速在美国关税扰动、地缘政治局势紧张等挑战下依旧保持韧性，克拉克 森（CLARKSONS）最新9月预测2025年全球集装箱贸易量将同比增长3.0%，叠加红海绕行、港口拥 堵、航运环保要求等因素，集装箱行业产销量超出年初预期。受益于此，公司前三季度干货集装箱累计 销量180.18万TEU，维持较好水平，冷藏箱销量因南美水果出口驱动显著增长64.35%达到15.35万TEU， 集装箱业务基本盘稳固；车辆业务全球销售各类车辆合计101583台,逆势增长7.21%，其中中国半挂车业 务营收与毛利率双升，新能源上装产品增速迅猛；物流服务业务在挑战下启动"二次创业"战略，现金流 同比大幅改善。此外，空港与消防、循环载具等业务也均呈现良好增长态势。 值得一提的是，今年以来，中集集团积极展开回购，相继推出不超过5亿港元的H股回购，以及3亿—5 亿元人民币（含）的A股股份回购计划，以维护公司价值及股东权益。截至10月30日，公司H股累计回 购金额约1.9亿港元，对应回购股份数量约2579万股；A股累计回购金额约1.03亿元人民币，对应回购股 份数量约1245万股。回购计划的稳步推进，也体现了公司管理层 ...

Core Viewpoint - CIMC Group's third-quarter performance report highlights a significant increase in revenue and net profit, driven by strong cash flow and strategic share buybacks, indicating confidence in long-term growth and a shift towards high-end manufacturing in logistics and energy sectors [1][10][11]. Group 1: Financial Performance - For the first three quarters, CIMC Group achieved a revenue of RMB 117.06 billion and a net profit of RMB 1.566 billion, with operating cash flow increasing by 510.19% year-on-year to RMB 9.827 billion [1]. - The company has initiated share buyback programs totaling up to HKD 500 million for H shares and RMB 300-500 million for A shares, with cumulative buybacks of approximately HKD 190 million and RMB 103 million as of October 30 [1]. Group 2: Marine Engineering Sector - The marine engineering segment has shown significant growth due to improved delivery efficiency and management, with a structural recovery in the drilling market adding certainty to growth [2][3]. - Global offshore oil and gas spending is projected to reach USD 159.4 billion by 2025, with a compound annual growth rate exceeding 21% from 2024 to 2026, driven by high oil prices and the economic viability of deep-sea oil and gas development [2]. - The FPSO market is experiencing a price increase, with large FPSO unit prices rising from under USD 3 billion in 2022 to over USD 4 billion currently, reflecting strong premium capabilities in high-end manufacturing [2]. Group 3: Drilling Market Dynamics - The drilling market is characterized by a supply-side contraction and rigid demand, with a current supply of only 604 marketable drilling platforms, 5% lower than in early 2020 [3][4]. - Despite a 4% year-on-year decline in global drilling rig demand in Q3 2025, regions like West Africa and Southeast Asia are witnessing growth, indicating new opportunities within the market [4]. Group 4: Energy and Chemical Sector - The energy and chemical segment, led by CIMC Anrui, reported a revenue of RMB 19.35 billion, a 7.7% increase year-on-year, with net profit rising by 12.9% [6]. - The clean energy division is a key growth driver, with revenues reaching RMB 15.04 billion, a 19.4% increase, and a significant surge in waterborne clean energy business revenue by 64.4% [6][7]. - CIMC Anrui's first green methanol project is set to launch in Q4 this year, positioning the company to capitalize on the growing demand for green methanol vessels [9]. Group 5: Long-term Growth Potential - CIMC Group is transitioning from a traditional equipment leader to a core participant in high-end logistics and energy equipment, effectively mitigating cyclical fluctuations in the logistics sector [1][10]. - The company's strategic focus on energy-related businesses and high-end manufacturing is expected to drive long-term growth, reducing the volatility of earnings and enhancing resilience [11][12].

南财智讯10月30日电，中集集团发布三季度报告，第三季度公司实现营业收入409.70亿元，同比下降 17.82%；归属于上市公司股东的净利润28.75亿元，同比下降70.13%。前三季度公司实现营业收入 1170.61亿元，同比下降9.23%；前三季度归属于上市公司股东的净利润156.56亿元，同比下降14.35%。 ...

中国国际海运集装箱（集团）股份有限公司 关于开展外汇套期保值业务的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、误 导性陈述或重大遗漏。 一、投资情况概述 中国国际海运集装箱（集团）股份有限公司（以下简称"本公司"，与其子公司合 称"本集团"）于 2025 年 3 月 27 日召开第十届董事会 2025 年第 7 次会议，审议通过了 《关于 2025 年度衍生品套期保值业务管理的议案》，同意本集团 2025 年汇率衍生品套 期保值金额不超过同期汇率风险敞口总额，最高持仓量不超过等值 75 亿美元；利率衍 生品套期保值最高持仓金额不超过等值 10 亿美元或 70 亿人民币；钢材衍生品套期保值 期货合约占用保证金最高不超过人民币 2000 万元。本公司已于 2025 年 5 月 15 日召开 了 2024 年度股东大会审议通过了上述议案。具体内容请见本公司于 2025 年 3 月 27 日 及 2025 年 5 月 15 日在巨潮资讯网（www.cninfo.com.cn）、本公司网站（www.cimc.com） 披露的公告（公告编号：【CIMC】2025-042 及【CIMC】 ...

股票代码：000039、299901 股票简称：中集集团、中集 H 代 公告编号：【CIMC】2025-098 中国国际海运集装箱（集团）股份有限公司 2025 年第三季度报告 第一节 重要内容提示 中国国际海运集装箱（集团）股份有限公司（以下简称"公司"或"本公司"，与其子公司合称"本 集团"）董事会、监事会及董事、监事、高级管理人员保证 2025 年第三季度报告（以下简称"本报告"） 内容的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责 任。 本公司负责人麦伯良先生（董事长）、主管会计工作负责人曾邗先生（副总裁兼财务总监（CFO）） 及会计机构负责人徐兆颖女士（财务管理部总经理）声明：保证本报告中财务信息的真实、准确、完 整。 本报告中"报告期"指 2025 年 7 月 1 日至 2025 年 9 月 30 日止的三个月。 本集团按中国企业会计准则编制财务报告。本报告中的财务报告未经审计。 本报告中本公司的"境外上市外资股"亦称"H 股"，"人民币普通股"亦称"A 股"。 本报告涉及的未来计划、发展战略等前瞻性陈述，不构成本集团对本公司股东（以下简称"股东"） 及投资者 ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 中國國際海運集裝箱（集團）股份有限公司 CHINA INTERNATIONAL MARINE CONTAINERS (GROUP) CO., LTD. （於中華人民共和國註冊成立之股份有限公司） 茲載列公司在公司網站（www.cimc.com）以及巨潮資訊網（www.cninfo.com.cn）刊登的 《中國國際海運集裝箱（集團）股份有限公司關於開展外匯套期保值業務的進展公告》， 僅供參閱。 特此公告。 承董事會命 中國國際海運集裝箱（集團）股份有限公司 吳三強 公司秘書 香港，2025 年 10 月 30 日 於本公告日期，本公司董事會成員包括：執行董事麥伯良先生（董事長），非執行董事朱志強先生（副 董事長）、梅先志先生（副董事長）、徐臘平先生、趙金濤先生及趙峰女士，及獨立非執行董事張光 華先生、楊雄先生及王桂壎先生。 (股份代號：02039) 海外監管公告 本公告乃中國國際海運集裝 ...

1 重要提示 香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部 份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 中國國際海運集裝箱（集團）股份有限公司 CHINA INTERNATIONAL MARINE CONTAINERS (GROUP) CO., LTD. （於中華人民共和國註冊成立之股份有限公司） （股份代號：02039） 二零二五年第三季度報告 本公告乃中國國際海運集裝箱（集團）股份有限公司（「公司」或「本公司」）根據《深 圳證券交易所股票上市規則》（「《深交所上市規則》」）規定在中國境內刊登，並根 據《香港聯合交易所有限公司證券上市規則》（「《香港上市規則》」）第13.09條及第 13.10B條及香港法例第571章《證券及期貨條例》第XIVA部內幕消息條文（如《香 港上市規則》定義者）在香港公佈。 1 1.1 本公司董事會（「董事會」）、監事會及其董事、監事、高級管理人員保證2025 年第三季度報告（「本報告」）內容的真實、準確、完整，不存在虛假記載、誤 導性陳述或者重 ...

Core Viewpoint - The article discusses the decline of "hidden champions" in Germany and Japan, highlighting the rise of Chinese companies as new leaders in the global industrial landscape. Group 1: Definition and Characteristics of Hidden Champions - The term "hidden champions" refers to small and medium-sized enterprises that dominate niche markets but remain largely unknown to the public. These companies typically have a global market share in the top two positions and annual sales below $10 billion, although the criteria have been relaxed to include those with sales under $50 billion [5][7]. - As of 2023, there are 3,406 hidden champions globally, with Germany accounting for 1,573, nearly half of the total [7][11]. Group 2: Current State of Hidden Champions - The article notes that the myth of hidden champions is fading as the high-end industrial supply chain in China undergoes comprehensive upgrades [6]. - Germany's manufacturing sector, particularly the automotive industry, is experiencing a systemic decline, with a reported 80% increase in bankruptcies since 2021 [22][25]. Group 3: Economic Challenges in Germany - Germany's GDP fell by 0.2% last year, marking its second consecutive year of decline, a rare occurrence since 1950 [21]. - Major automotive companies, including Bosch and Volkswagen, are planning significant layoffs, with Bosch alone cutting 13,000 jobs [22][24]. Group 4: Comparison with Chinese Companies - While hidden champions in Germany and Japan are declining, Chinese companies are rapidly emerging as new industrial leaders, particularly in advanced manufacturing and digital technology [41]. - China has cultivated over 14,000 specialized small and medium-sized enterprises, with the number of hidden champions increasing from about 100 to 300 in the past five years [41]. Group 5: Future Outlook - The article suggests that the traditional manufacturing models of Germany and Japan are becoming obsolete, as they struggle with digital transformation and innovation [33][35]. - In contrast, China's hidden champions are gaining strength and represent significant future growth potential, indicating a shift in the global industrial landscape [41][43].

Core Insights - The article discusses the concept of "hidden champions," small and medium-sized enterprises (SMEs) that dominate niche markets but remain largely unknown to the public, particularly in Germany, Japan, and the U.S. [2][3][4] - The number of hidden champions has significantly increased in China, with a unique survival and operational philosophy that differs from Western companies [5][54] - However, the myth of hidden champions is facing challenges due to structural economic issues in Germany and Japan, leading to a decline in their prominence [6][23][36] Group 1: Definition and Characteristics of Hidden Champions - Hermann Simon defines hidden champions as companies that hold the top two global market shares, have annual sales below $1 billion, and are not widely recognized [8] - The number of hidden champions globally is estimated at 3,406, with Germany accounting for 1,573, nearly half of the total [9][13] - These companies often operate in overlooked industries, focusing on specialized products like fasteners and pet leashes, and maintain a low profile as part of their business model [14][15] Group 2: Economic Context and Decline - Germany's economy is experiencing a structural crisis, with GDP shrinking for two consecutive years, a rare occurrence since 1950 [27][28] - The automotive industry, a cornerstone of Germany's manufacturing sector, is facing systemic decline, with a reported 80% increase in bankruptcies since 2021 [28][30] - Major automotive suppliers are also struggling, with significant layoffs announced by companies like Bosch and ZF [28][29] Group 3: Comparison with China - In contrast to the decline of hidden champions in Germany and Japan, China's hidden champions are on the rise, with over 14,000 specialized small and medium enterprises identified [53][54] - Chinese companies are increasingly entering the global market, with 15 firms listed among the top 100 automotive parts suppliers, showcasing higher profit margins than their European counterparts [52] - The article notes that the number of identified hidden champions in China has tripled in the past five years, indicating a robust growth trajectory [54][55] Group 4: Future Outlook - The article suggests that the traditional manufacturing powerhouses of Germany and Japan are losing their competitive edge due to slow digital transformation and a lack of innovation [39][42][46] - The rise of Chinese technology and manufacturing capabilities is reshaping the global industrial landscape, with a notable absence of German and Japanese firms in the emerging sectors like AI and renewable energy [36][37] - The future of hidden champions in Germany and Japan appears uncertain as they struggle to adapt to changing market dynamics and increasing competition from China [58]