Core Viewpoint - CIMC Group (02039) reported a strong performance for the first half of 2025, with significant increases in revenue and net profit, indicating robust growth in its operations and strategic positioning in the global market [1] Financial Performance - The company achieved an operating revenue of approximately 76.09 billion yuan, with an operating profit of about 2.817 billion yuan, reflecting a year-on-year growth of 33.15% [1] - The net profit attributable to shareholders and other equity holders was around 1.278 billion yuan, marking a year-on-year increase of 47.63% [1] - Basic earnings per share stood at 0.23 yuan [1] Business Segments - The container manufacturing segment generated operating revenue of 21.735 billion yuan, with a net profit of 1.444 billion yuan, showing a year-on-year increase of 13.20% [1] - The sales volume of dry cargo containers was 1.1259 million TEU, a decrease of approximately 18.57% compared to the previous year due to high base effects [1] - In contrast, the demand for refrigerated containers surged, with sales reaching 92,000 TEU, a significant year-on-year growth of about 105.82% [1] Global Strategy - The company continues to strengthen its global layout strategy, with R&D centers and manufacturing bases distributed across nearly 20 countries and regions, and over 30 overseas entities primarily in Europe and North America [1] - The balanced revenue distribution, with approximately 51% from domestic operations and 49% from international markets, reflects a solid market position and risk mitigation strategy [1]

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） （股份代號：02039） 關於2025年半年度計提減值準備的公告 本公告乃中國國際海運集裝箱（集團）股份有限公司（「本公司」，與其附屬公司合 稱「本集團」）根據《深圳證券交易所上市公司自律監管指南第1號 – 業務辦理》的 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(2)(a)條、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。 一、計提減值準備的情況概述 2 本次計提減值事項中，計提減值準備的主要資產項目的計提依據與原因如 下： 為了客觀、公允反映本公司截止2025年6月 ...

中國國際海運集裝箱（集團）股份有限公司 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。 CHINA INTERNATIONAL MARINE CONTAINERS (GROUP) CO., LTD. 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 2025 年半年度非經營性資金佔用及其他 關聯資金往來情況匯總表》，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 8 月 27 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。 中国国际海运集装箱（集团）股份有限公司 2025 年半年度非经营性资金占用及 ...

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） (股份代號：02039) 海外監管公告 本公告乃中國國際海運集裝箱（集團）股份有限公司（「公司」）根據香港聯合交易所有 限公司證券上市規則第 13.10B 條作出。 一、概述 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 2025 年度擔保計劃額度調劑的公告》，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 8 月 27 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 ...

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） (股份代號：02039) 海外監管公告 本公告乃中國國際海運集裝箱（集團）股份有限公司（「公司」）根據香港聯合交易所有 限公司證券上市規則第 13.10B 條作出。 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）股份有限公司自 2025 年 1 月 1 日至 2025 年 6 月 30 日止期間財務報表》，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 8 月 27 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 ...

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） (股份代號：02039) 海外監管公告 本公告乃中國國際海運集裝箱（集團）股份有限公司（「公司」）根據香港聯合交易所有 限公司證券上市規則第 13.10B 條作出。 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 2025 年半年度報告摘要》，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 8 月 27 日 本集团已按中国企业会计准则编制财务报告。本报告所载自 2025 年 1 月 1 日至 2025 年 6 月 30 日止期 ...

[Important Notice](index=2&type=section&id=Important%20Notice) [Important Notice](index=2&type=section&id=Important%20Notice) The Board, Supervisory Board, and senior management guarantee the report's accuracy; 2025 semi-annual financial statements are unaudited, with no planned dividends or share conversions - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of this report and assume legal responsibility[4](index=4&type=chunk) - The semi-annual financial statements and notes for the period from January 1 to June 30, 2025, contained in this report are unaudited[5](index=5&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2025 (H1 2024: none)[6](index=6&type=chunk) [Reference Documents](index=4&type=section&id=Reference%20Documents) [Reference Documents](index=4&type=section&id=Reference%20Documents) The 2025 semi-annual report, financial statements, and all publicly disclosed company documents are available for reference at the Shenzhen headquarters - The text and summary of the company's 2025 semi-annual report, signed by the legal representative, are available at the company's Shenzhen headquarters[10](index=10&type=chunk) - The original financial report, signed and sealed by the legal representative, the person in charge of accounting, and the head of the accounting department, is available at the company's Shenzhen headquarters[11](index=11&type=chunk) - Originals of all company documents and announcements publicly disclosed during the reporting period on specified media and websites are available at the company's Shenzhen headquarters[11](index=11&type=chunk) [Definitions](index=4&type=section&id=Definitions) [Definitions](index=4&type=section&id=Definitions) This section defines core terms used in the report, including company names, stock types, major shareholders, and key subsidiaries, ensuring accurate understanding Core Term Definitions | Term | Definition | | :--- | :--- | | "The Company" or "Company" | China International Marine Containers (Group) Co., Ltd., with A-shares listed on the Shenzhen Stock Exchange and H-shares on the Main Board of the Hong Kong Stock Exchange | | "The Group" or "Group" | The Company and its subsidiaries | | "H-shares" | Overseas listed foreign ordinary shares of the Company's share capital, with a par value of RMB 1.00 per share, listed on the Hong Kong Stock Exchange and traded in HKD | | "A-shares" | Domestic ordinary shares of the Company's share capital, with a par value of RMB 1.00 per share, listed on the Shenzhen Stock Exchange and traded in RMB | | "Reporting Period" or "Current Reporting Period" | The six months from January 1, 2025, to June 30, 2025 | | "Shenzhen Capital Group" | Shenzhen Capital Operation Group Co., Ltd., the Company's largest shareholder | | "China Merchants Group" | China Merchants Group Co., Ltd., the Company's second-largest shareholder | | "CIMC Container (Group) Co., Ltd." | A controlled subsidiary of the Company | | "CIMC Vehicles" | CIMC Vehicles (Group) Co., Ltd., a controlled subsidiary of the Company | | "CIMC Tianda" | CIMC Tianda Holdings Co., Ltd., a controlled subsidiary of the Company | | "CIMC Sinotrans" | CIMC Sinotrans Logistics Technology (Group) Co., Ltd., a controlled subsidiary of the Company | | "CIMC Enric" | CIMC Enric Holdings Limited, a controlled subsidiary of the Company | | "CIMC Environmental Technology" | CIMC Enric Environmental Technology Co., Ltd., a controlled subsidiary of the Company | | "CIMC Methanol Technology" | CIMC Enric Methanol Technology Co., Ltd., a controlled subsidiary of the Company | | "CIMC Finance Co." | CIMC Group Finance Co., Ltd., a controlled subsidiary of the Company | | "Shenzhen Financial Leasing" | Shenzhen Financial Leasing (Group) Co., Ltd., an associate company of the Company | | "CIMC Smart City" | Shenzhen CIMC Smart City Development Group Co., Ltd., an associate company of the Company | [Glossary](index=6&type=section&id=Glossary) [Glossary](index=6&type=section&id=Glossary) This section provides explanations for technical terms related to the Group's business used in the report, aiding reader comprehension of specialized content Technical Term Definitions | Term | Definition | | :--- | :--- | | EPC | Engineering Procurement Construction | | FPSO | Floating Production Storage and Offloading | | FLNG | Floating Liquefied Natural Gas System | | HSE | Health Safety Environment | | Jack-up drilling rig | A mobile offshore drilling unit primarily used for shallow water operations, typically in water depths ranging from 250 to 400 feet | | LNG | Liquefied Natural Gas | | LPG | Liquefied Petroleum Gas | | Modular construction | Buildings manufactured in a factory environment and transported to a pre-prepared project site for installation | | ONE Model | Optimization Never Ending, the Group's lean management system | | QHSE | A management system that directs and controls an organization in terms of Quality, Health, Safety, and Environmental aspects | | Semi-submersible drilling rig | A mobile offshore drilling unit primarily used for deepwater operations, typically in water depths ranging from 600-3,600 meters | | TEU | Twenty-foot Equivalent Unit, a standard unit for measuring container cargo volume, representing a container 20 feet long, 8 feet 6 inches high, and 8 feet wide | [Section I Company Profile](index=7&type=section&id=Section%20I%20Company%20Profile) [1. Company Overview](index=7&type=section&id=1.%20Company%20Overview) This section provides basic company information, including legal name, legal representative, registered address, headquarters address, website, and email - Legal Chinese Name: China International Marine Containers (Group) Co., Ltd. (Abbreviation: "CIMC Group")[19](index=19&type=chunk) - Legal Representative: Mai Boliang[19](index=19&type=chunk) - Registered Address and Headquarters Address: 8th Floor, CIMC Group R&D Center, No. 2 Gangwan Avenue, Shekou, Nanshan District, Shenzhen, Guangdong Province, China[19](index=19&type=chunk) [2. Contact Information](index=7&type=section&id=2.%20Contact%20Information) This section provides contact details for the company's Board Secretary/Company Secretary and Securities Affairs Representative/Assistant Company Secretary, including name, address, phone, fax, and email - Board Secretary/Company Secretary: Wu Sanqiang[19](index=19&type=chunk) - Contact Address: CIMC Group R&D Center, No. 2 Gangwan Avenue, Shekou, Nanshan District, Shenzhen, Guangdong Province, China (Postal Code: 518067)[19](index=19&type=chunk) - Contact Phone: (86) 755－2669 1130, Email: ir@cimc.com[19](index=19&type=chunk) [3. Company Stock Information](index=7&type=section&id=3.%20Company%20Stock%20Information) This section lists the company's A-share and H-share listing exchanges, stock abbreviations, and codes, and explains the special trading code for H-shares - A-share Listing Exchange: Shenzhen Stock Exchange, A-share Abbreviation: CIMC Group, Stock Code: 000039[20](index=20&type=chunk) - H-share Listing Exchange: Hong Kong Stock Exchange, H-share Abbreviation: CIMC Group, CIMC H-share, Stock Code: 02039, 299901[20](index=20&type=chunk) - The H-share abbreviation and code (299901) are exclusively for former B-share shareholders in mainland China to trade the company's H-shares after their listing on the Hong Kong Stock Exchange[20](index=20&type=chunk) [Section II Summary of Accounting Data and Financial Indicators](index=8&type=section&id=Section%20II%20Summary%20of%20Accounting%20Data%20and%20Financial%20Indicators) [1. Key Accounting Data and Financial Indicators](index=8&type=section&id=1.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section summarizes the company's key consolidated accounting data and financial indicators for H1 2025, including income statement, balance sheet, and cash flow items, as well as EPS and ROE, compared to the prior year Consolidated Income Statement Items (H1 2025 vs H1 2024) | Consolidated Income Statement Item | H1 2025 (Unaudited) | H1 2024 (Unaudited) | Period-over-prior-year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 76.09 Billion Yuan | 79.12 Billion Yuan | (3.82%) | | Operating Profit | 2.82 Billion Yuan | 2.12 Billion Yuan | 33.15% | | Net Profit | 1.76 Billion Yuan | 1.39 Billion Yuan | 26.45% | | Net Profit Attributable to Shareholders of the Parent Company and Other Equity Holders | 1.28 Billion Yuan | 865.78 Million Yuan | 47.63% | | Net Profit Attributable to Shareholders of the Parent Company and Other Equity Holders (Excluding Non-recurring Gains and Losses) | 1.24 Billion Yuan | 820.32 Million Yuan | 51.18% | Consolidated Balance Sheet Items (June 30, 2025 vs December 31, 2024) | Consolidated Balance Sheet Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | Period-end vs Prior Year-end Change | | :--- | :--- | :--- | :--- | | Total Assets | 175.44 Billion Yuan | 174.75 Billion Yuan | 0.39% | | Total Liabilities | 107.04 Billion Yuan | 106.73 Billion Yuan | 0.29% | | Total Shareholders' Equity | 68.40 Billion Yuan | 68.02 Billion Yuan | 0.56% | | Equity Attributable to Shareholders of the Parent Company and Other Equity Holders | 52.20 Billion Yuan | 51.62 Billion Yuan | 1.13% | Consolidated Cash Flow Statement Items (H1 2025 vs H1 2024) | Consolidated Cash Flow Statement Item | H1 2025 (Unaudited) | H1 2024 (Unaudited) | Period-over-prior-year Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 7.15 Billion Yuan | (1.45 Billion Yuan) | 594.46% | | Net Cash Flow Used in Investing Activities | (1.11 Billion Yuan) | (3.69 Billion Yuan) | 69.99% | | Net Cash Flow from Financing Activities | 1.07 Billion Yuan | 6.54 Billion Yuan | (83.58%) | Key Financial Indicators (H1 2025 vs H1 2024) | Key Financial Indicator | H1 2025 (Unaudited) | H1 2024 (Unaudited) | Period-over-prior-year Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share Attributable to Parent Company Shareholders (RMB Yuan) | 0.23 | 0.16 | 43.75% | | Diluted Earnings Per Share Attributable to Parent Company Shareholders (RMB Yuan) | 0.23 | 0.15 | 53.33% | | Weighted Average Return on Net Assets (%) | 2.58% | 1.77% | 0.81% | | Weighted Average Return on Net Assets After Deducting Non-recurring Gains and Losses (%) | 2.50% | 1.68% | 0.82% | | Net Cash Flow Per Share from Operating Activities (RMB Yuan) | 1.33 | (0.27) | 592.59% | - As of the trading day prior to disclosure, the company's total share capital was **5,392,520,385 shares**, with fully diluted EPS calculated at **0.23 Yuan/share** based on the latest share capital[27](index=27&type=chunk) [2. Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=9&type=section&id=2.%20Differences%20in%20Accounting%20Data%20under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company has no differences in net profit and net assets between financial reports disclosed under international/overseas accounting standards and Chinese accounting standards - The company has no differences in net profit and net assets between financial reports disclosed under international/overseas accounting standards and Chinese accounting standards[28](index=28&type=chunk) [3. Non-recurring Gains and Losses Items and Amounts](index=9&type=section&id=3.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section lists the company's non-recurring gains and losses items and their amounts for H1 2025, totaling **37.96 Million Yuan** Non-recurring Gains and Losses Items and Amounts (H1 2025) | Item | H1 2025 (Unaudited) | | :--- | :--- | | Losses from disposal of non-current assets | (3.14 Million Yuan) | | Government grants recognized in current profit or loss | 220.33 Million Yuan | | Fair value changes and disposal gains/losses from financial assets, and fair value changes from investment properties measured at fair value, excluding effective hedging related to normal business operations | (104.61 Million Yuan) | | Net gains from disposal of long-term equity investments | 18.56 Million Yuan | | Other non-operating income and expenses apart from the above | (1.62 Million Yuan) | | Less: Income tax impact | 31.93 Million Yuan | | Impact on minority interests (after tax) | 59.65 Million Yuan | | Total | 37.96 Million Yuan | [Section III Management Discussion and Analysis](index=11&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) [1. Business Overview](index=11&type=section&id=1.%20Business%20Overview) The Group is a leading global supplier of equipment and solutions for the logistics and energy industries, maintaining global leadership in multiple segments and a balanced domestic and international revenue split - The Group is a global leading supplier of equipment and solutions for the logistics and energy industries, with industrial clusters primarily covering the logistics and energy sectors[32](index=32&type=chunk) - The Group maintains global leadership in standard dry cargo containers, reefer containers, special containers, and tank containers; CIMC Vehicles remains the world's largest semi-trailer manufacturer[33](index=33&type=chunk) - The Group continues to consolidate its global layout strategy, with R&D centers and manufacturing bases in nearly 20 countries and regions, and over 30 overseas entities; domestic operating revenue accounted for approximately **51%** and international operating revenue for approximately **49%** during the reporting period[33](index=33&type=chunk) [2. Review of Principal Business Operations During the Reporting Period](index=11&type=section&id=2.%20Review%20of%20Principal%20Business%20Operations%20During%20the%20Reporting%20Period) During the reporting period, the Group's operating revenue decreased by **3.82%** to **76.09 Billion Yuan**, but net profit attributable to parent company shareholders increased by **47.63%** to **1.28 Billion Yuan**, with varied performance across key business segments Reporting Period Key Financial Performance | Indicator | H1 2025 | Prior Period | Year-over-year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 76.09 Billion Yuan | 79.12 Billion Yuan | (3.82%) | | Net Profit Attributable to Shareholders of the Parent Company and Other Equity Holders | 1.28 Billion Yuan | 865.78 Million Yuan | 47.63% | - Products and businesses accounting for over **10%** of the Group's operating revenue include container manufacturing, road transport vehicles, energy/chemical/liquid food equipment, logistics services, and offshore engineering[34](index=34&type=chunk) (1) Logistics Sector Logistics sector performance was mixed, with container manufacturing revenue down but net profit up, road transport vehicles revenue and net profit both down, airport and logistics equipment/fire and rescue equipment revenue and net profit significantly up, logistics services revenue slightly down but net profit flat, and循环载具 business revenue up but still at a loss, with the loss significantly narrowed year-over-year Logistics Sector Key Business Segment Performance | Business Segment | Operating Revenue (H1 2025) | Year-over-year Change | Net Profit (H1 2025) | Year-over-year Change | | :--- | :--- | :--- | :--- | :--- | | Container Manufacturing Business | 21.74 Billion Yuan | (12.88%) | 1.44 Billion Yuan | 13.20% | | Road Transport Vehicle Business | 9.75 Billion Yuan | (8.85%) | 408.19 Million Yuan | (28.89%) | | Airport and Logistics Equipment, Fire and Rescue Equipment Business | 3.12 Billion Yuan | 29.83% | 80.00 Million Yuan | 119.57% | | Logistics Services Business | 13.58 Billion Yuan | (3.62%) | 202.08 Million Yuan | Essentially Flat | | Reusable Packaging Business | 1.34 Billion Yuan | 11.62% | Net Loss 17.00 Million Yuan | Loss Reduced by 64.50% | - Dry cargo container sales in the container manufacturing business decreased by **18.57%** year-over-year, while reefer container sales increased by **105.82%**, primarily benefiting from strong demand for South American fruit exports[37](index=37&type=chunk) - Road transport vehicle business saw global semi-trailer sales growth, but revenue declined due to the North American market; China's semi-trailer market share rose to **23.07%**, retaining the national top spot; new energy heavy truck superstructure product revenue increased by **10.12%** year-over-year[39](index=39&type=chunk)[40](index=40&type=chunk) - Airport and logistics equipment business revenue grew steadily, driven by the release of earlier orders and the successful operation of intelligent unmanned aircraft docking systems at Lanzhou Airport; fire and rescue equipment business revenue increased, boosted by "Trillion Yuan National Debt" projects and the localization of Ziegler overseas[44](index=44&type=chunk) - The reusable packaging business's net loss narrowed by **64.50%** year-over-year, primarily due to cost reduction and efficiency improvement measures, optimized asset allocation, and enhanced operational efficiency[49](index=49&type=chunk) (2) Energy Industry Sector The energy industry sector showed strong overall performance, with significant increases in revenue and net profit for energy, chemical, and liquid food equipment, particularly in the clean energy segment, and offshore engineering turning profitable, though new orders declined Energy Industry Sector Key Business Segment Performance | Business Segment | Operating Revenue (H1 2025) | Year-over-year Change | Net Profit (H1 2025) | Year-over-year Change | | :--- | :--- | :--- | :--- | :--- | | Energy, Chemical, and Liquid Food Equipment Business | 13.01 Billion Yuan | 7.32% | 460.00 Million Yuan | 90.26% | | Offshore Engineering Business | 8.01 Billion Yuan | 2.95% | 281.00 Million Yuan | Turned Profitable (Prior period net loss of 84.00 Million Yuan) | - Within the energy, chemical, and liquid food equipment business, the clean energy segment's revenue increased by **22.2%** year-over-year, with 7 new vessel orders signed in the marine clean energy sector, and the hydrogen energy business strengthening its full industrial chain layout[50](index=50&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk) - Offshore engineering business net profit turned profitable year-over-year, but new orders were **106 Million USD** (prior period **1.79 Billion USD**), mainly due to delayed order finalization[56](index=56&type=chunk) - During the reporting period, the offshore engineering business delivered the world's largest new-generation self-elevating and self-propelled offshore wind power installation vessel BOREAS, the new-generation wind power installation vessel Norse Wind, two 7,000-car capacity vehicle carriers, and commenced construction of the FPSO P85 hull general contracting project[57](index=57&type=chunk) (3) Financial and Asset Management Services for the Group Financial and asset management business operating revenue decreased by **21.30%** year-over-year, but net loss narrowed by **16.05%**, primarily due to lower USD loan interest rates; CIMC Finance Co. enhanced service quality, and CIMC Offshore Asset Operation and Management secured new leases amidst market fluctuations Financial and Asset Management Business Performance | Indicator | H1 2025 | Year-over-year Change | | :--- | :--- | :--- | | Operating Revenue | 910.00 Million Yuan | (21.30%) | | Net Loss | 735.00 Million Yuan | Loss Reduced by 16.05% | - CIMC Finance Co. strengthened centralized fund operation and management, improved the Group's fund utilization efficiency, reduced overall costs, and was awarded "2024 Excellent RMB Foreign Exchange Non-Bank Member"[59](index=59&type=chunk) - In the context of Brent crude oil price fluctuations and a decline in global utilization rates, CIMC Offshore Asset Operation and Management successfully signed new leases for the mid-deepwater semi-submersible drilling rig "Xianjing Yantai" and the ultra-deepwater semi-submersible drilling rig "Blue Whale I"[60](index=60&type=chunk) (4) Innovative Businesses Highlight CIMC's Advantages In innovative businesses, cold chain operations solidified their reefer container base and expanded into pharmaceutical cold chain and industrial temperature control; energy storage technology faced market limitations but actively explored new scenarios and delivered distributed PV storage projects; modular construction achieved breakthroughs in Hong Kong and international markets, successfully delivering a 2MW modular data center project in Osaka, Japan - Cold chain business solidified its reefer container base, increased strategic deployment in pharmaceutical cold chain, industrial temperature control, and actively explored product iteration and market expansion for special reefer containers[61](index=61&type=chunk) - Energy storage technology business was affected by US tariff policies and new energy industry policy adjustments, but successfully delivered a distributed PV storage project for a highway in Hebei Province, optimizing the owner's energy structure[63](index=63&type=chunk) - Modular construction business signed new projects in the Hong Kong market, including the North District Hospital expansion, successfully signed the Riyadh Earth Boutique Hotel project in Saudi Arabia in the international market, and delivered a 2MW modular data center project in Osaka, Japan[64](index=64&type=chunk) (5) Related Capital Operations During the reporting period, the company planned to repurchase H-shares not exceeding **HKD 500 Million**, and has repurchased a total of **1,480,000 H-shares** on the Hong Kong Stock Exchange, totaling **HKD 8,873,381** - The company plans to repurchase some H-shares, with a repurchase amount not exceeding **HKD 500 Million** (inclusive)[65](index=65&type=chunk) - During the reporting period, the company repurchased a total of **1,480,000 H-shares** on the Hong Kong Stock Exchange, with a total repurchase amount of **HKD 8,873,381**[65](index=65&type=chunk) - As of the report date, a cumulative total of **8,641,100 H-shares** have been repurchased, with a total repurchase amount of **HKD 56,240,385**, and these repurchased H-shares will be held as treasury shares[65](index=65&type=chunk) [3. Company's Future Development and Outlook](index=17&type=section&id=3.%20Company's%20Future%20Development%20and%20Outlook) The Group will focus on "accelerating the construction of new growth drivers and vigorously promoting high-quality development" to become a world-class enterprise, addressing risks through innovation, market expansion, lean management, and industrial synergy - The Group will base itself on the new development stage, closely follow national policy guidance, deepen the implementation of the strategic theme "accelerating the construction of new growth drivers and vigorously promoting high-quality development," and strive to "become a high-quality, respected world-class enterprise"[66](index=66&type=chunk) 1. Industry Analysis and Business Strategies for Key Business Segments Each business segment will formulate specific operating strategies based on market characteristics and development trends; logistics will consolidate market position through innovation, lean management, and globalization; energy will focus on clean energy transition, strengthening R&D and market expansion; financial and asset management will deepen fund management and customer service, optimizing asset structure - The container manufacturing business will operate with "stable and high-quality development, business innovation and breakthroughs" as its main theme, continuously strengthening comprehensive competitiveness, and increasing R&D investment in new products, materials, and technologies[67](index=67&type=chunk)[68](index=68&type=chunk) - The road transport vehicle business will accelerate its evolution into a "full value chain" operator of Starlink semi-trailers domestically, transform into a "borderless enterprise" in overseas markets, and continue to focus on new energy heavy truck superstructure business and pure electric tractor-trailer integrated products[69](index=69&type=chunk)[70](index=70&type=chunk) - The airport and logistics equipment business will improve its "Airport+" product ecosystem and promote the concept of smart airport apron; the fire and rescue equipment business will focus on high-end strategies, increase R&D of high-value-added products, and build a system solution of "systematic equipment + data communication + control system + intelligent algorithms"[71](index=71&type=chunk) - The logistics services business will fully embark on a "second entrepreneurship" journey, driven by products and customers, continuously deepening integrated operations and flat management reforms, and promoting network construction in strategic regions such as Southeast Asia, the Middle East, and Europe[72](index=72&type=chunk) - The reusable packaging business will target key customers in industries such as automotive and new energy, strengthen digital capability building, and steadily expand into the Southeast Asian market[73](index=73&type=chunk) - The energy, chemical, and liquid food equipment business will continue to build a digital and intelligent integrated industrial value-added ecosystem of "key equipment + core processes + comprehensive services," enhance R&D, maintain market leadership in LNG, hydrogen energy, green methanol, and other fields, and strengthen overseas market expansion[75](index=75&type=chunk) - The offshore engineering business will firmly advance its strategic layout, deeply cultivate the oil and gas platform business, expand clean energy business, and focus on breaking through to high-end European customers to develop diversified special vessel product lines[79](index=79&type=chunk) - CIMC Finance Co. in the financial and asset management business will deepen centralized fund management, focus on customer needs, and continuously promote digital transformation; CIMC Offshore Asset Operation and Management will adhere to the strategy of "stable operation, promoting turnover, and expanding markets," optimizing asset structure[80](index=80&type=chunk)[81](index=81&type=chunk) 2. Key Risk Factors for the Group's Future Development The Group faces multiple challenges for future development, including economic cycle fluctuations, trade protectionism and anti-globalization, China's economic structural adjustment and industrial policy upgrades, financial market volatility and exchange rate risks, market competition, labor and environmental pressures, and raw material price fluctuations - Risk of economic cycle fluctuations: The Group's principal businesses depend on global and Chinese economic performance, and the complex and uncertain economic environment poses higher demands on operational management[82](index=82&type=chunk) - Risks of trade protectionism and anti-globalization: Rising global trade protectionism disrupts policy stances, threatening global trade growth and impacting some of the Group's principal businesses[83](index=83&type=chunk) - Financial market volatility and exchange rate risks: Increased volatility and frequency of RMB exchange rate fluctuations against the USD pose challenges for the Group's foreign exchange and fund management[84](index=84&type=chunk) - Risks of major raw material price fluctuations: Raw materials (steel, aluminum, wood, etc.) account for a high proportion of costs, and complex global economic trends, supply-demand, and price fluctuations bring uncertainty to operating performance[85](index=85&type=chunk) [4. Analysis of Core Competitiveness](index=21&type=section&id=4.%20Analysis%20of%20Core%20Competitiveness) The Group's core competitiveness stems from its global development philosophy, efficient corporate governance, intelligent manufacturing and lean management, integrated resource synergy, continuous innovation and R&D capabilities, and strong brand image - Global development philosophy: Leveraging forty years of accumulated global network and brand advantages, the business network covers major countries and regions worldwide, effectively mitigating market cycle fluctuations[86](index=86&type=chunk) - Scientific and efficient corporate governance mechanism: Relying on its unique mixed-ownership advantage, the company has built a balanced equity structure and standardized governance mechanism, ensuring efficient decision-making and effective governance[87](index=87&type=chunk) - Continuous innovation and technology R&D capabilities: Formulating medium- and long-term development strategies, optimizing the technology R&D system, accelerating product technology R&D and upgrading existing products, with **401 new patent applications** during the reporting period[91](index=91&type=chunk) - Strong brand image: The "CIMC" brand is sold in over **100 countries and regions** globally, ranking **52nd** in the "2025 China Listed Company Brand Value List (TOP100 Overall List)"[93](index=93&type=chunk) [5. Financial Data Analysis](index=23&type=section&id=5.%20Financial%20Data%20Analysis) This section analyzes financial data for the reporting period, including principal business by industry and region, non-principal business gains/losses, asset/liability changes, liquidity, borrowings, capital structure, commitments, contingent liabilities, dividend distribution, and exchange rate hedging - During the reporting period, operating revenue decreased by **3.82%** year-over-year, operating costs decreased by **5.92%** year-over-year, and gross profit margin increased by **1.94%** year-over-year[94](index=94&type=chunk) - Net cash flow from operating activities was **7.15 Billion Yuan**, a significant increase of **594.46%** year-over-year, primarily due to increased sales collections[98](index=98&type=chunk) - The asset-liability ratio was **61%**, consistent with the end of the previous year, as the Group is committed to maintaining an appropriate mix of equity and debt[112](index=112&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2025[114](index=114&type=chunk) 1. Analysis of Principal Business Principal business revenue decreased by **3.82%** year-over-year, but overall gross profit margin increased by **1.94%**; container manufacturing revenue decreased but gross profit margin significantly improved, while offshore engineering revenue grew with a notable increase in gross profit margin; by region, China's revenue grew by **7.94%**, while Americas and Asia (excluding China) saw revenue declines H1 2025 Principal Business by Industry | Industry/Product Segment | Operating Revenue | Proportion of Operating Revenue | Year-over-year Change in Operating Revenue | Gross Profit Margin | Year-over-year Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | | Container Manufacturing | 21.74 Billion Yuan | 28.57% | (12.88%) | 16.15% | 3.95% | | Road Transport Vehicles | 9.75 Billion Yuan | 12.82% | (8.85%) | 15.01% | 0.10% | | Energy, Chemical, and Liquid Food Equipment | 13.01 Billion Yuan | 17.10% | 7.32% | 15.12% | 1.91% | | Offshore Engineering | 8.01 Billion Yuan | 10.53% | 2.95% | 10.84% | 5.85% | | Airport and Logistics Equipment, Fire and Rescue Equipment | 3.12 Billion Yuan | 4.10% | 29.83% | 20.56% | 0.02% | | Logistics Services | 13.58 Billion Yuan | 17.85% | (3.62%) | 5.97% | (0.26%) | | Reusable Packaging | 1.34 Billion Yuan | 1.76% | 11.62% | 13.93% | 1.88% | | Financial and Asset Management | 909.52 Million Yuan | 1.20% | (21.30%) | (10.85%) | (19.71%) | | Total | 76.09 Billion Yuan | 100.00% | (3.82%) | 12.67% | 1.94% | H1 2025 Principal Business by Region | Region (by Customer Location) | Operating Revenue | Proportion of Operating Revenue | Year-over-year Change in Operating Revenue | | :--- | :--- | :--- | :--- | | China | 38.90 Billion Yuan | 51.12% | 7.94% | | Americas | 10.47 Billion Yuan | 13.76% | (33.92%) | | Europe | 12.45 Billion Yuan | 16.36% | 6.61% | | Asia (excluding China) | 11.27 Billion Yuan | 14.81% | (14.23%) | | Other | 3.01 Billion Yuan | 3.95% | 24.34% | | Total | 76.09 Billion Yuan | 100.00% | (3.82%) | 2. Analysis of Non-Principal Business Non-principal business impacts on total profit during the reporting period primarily stemmed from credit impairment losses (**11.04%**) and government grants (**7.87%**), while investment losses and fair value change losses were negative contributions, with most items being non-sustainable Non-Principal Business Items and Impact on Total Profit (H1 2025) | Item | Amount | Proportion of Total Profit | Sustainability | | :--- | :--- | :--- | :--- | | Asset impairment losses | 34.84 Million Yuan | 1.25% | No | | Credit impairment losses | 308.91 Million Yuan | 11.04% | No | | Investment losses | (63.05 Million Yuan) | (2.25%) | No | | Fair value change losses | (6.26 Million Yuan) | (0.22%) | No | | Gains from asset disposal | 15.16 Million Yuan | 0.54% | No | | Non-operating income | 60.42 Million Yuan | 2.16% | No | | Non-operating expenses | 79.02 Million Yuan | 2.82% | No | 3. Significant Changes in Asset and Liability Structure At the end of the reporting period, the company's total assets and total liabilities both slightly increased, with total current liabilities decreasing by **2.56%** and total non-current liabilities increasing by **9.21%**, while the proportion of major asset and liability items remained largely unchanged Asset and Liability Structure Changes (June 30, 2025 vs December 31, 2024) | Item | Amount at Period-end | Proportion of Total Assets at Period-end | Amount at Prior Year-end | Proportion of Total Assets at Prior Year-end | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Current Assets | 101.12 Billion Yuan | 57.64% | 100.76 Billion Yuan | 57.66% | 0.35% | | Total Non-current Assets | 74.32 Billion Yuan | 42.36% | 73.99 Billion Yuan | 42.34% | 0.45% | | Total Assets | 175.44 Billion Yuan | 100.00% | 174.75 Billion Yuan | 100.00% | 0.39% | | Total Current Liabilities | 78.78 Billion Yuan | 44.91% | 80.86 Billion Yuan | 46.27% | (2.56%) | | Total Non-current Liabilities | 28.26 Billion Yuan | 16.11% | 25.88 Billion Yuan | 14.81% | 9.21% | | Total Liabilities | 107.04 Billion Yuan | 61.01% | 106.73 Billion Yuan | 61.08% | 0.29% | 4. Major Overseas Assets During the reporting period, the company had no major overseas assets - During the reporting period, the company had no major overseas assets[104](index=104&type=chunk) 5. Assets and Liabilities Measured at Fair Value During the reporting period, there were no significant changes in the company's main asset measurement attributes; details of assets and liabilities measured at fair value are provided in the financial report notes - During the reporting period, there were no significant changes in the company's main asset measurement attributes[105](index=105&type=chunk) - For details on assets and liabilities measured at fair value, please refer to Note IX, 1 of "Section VIII 2025 Semi-Annual Financial Report (Unaudited)" in this report[104](index=104&type=chunk) 6. Asset Restrictions as of the End of the Reporting Period (Including but Not Limited to Asset Mortgages) As of June 30, 2025, the Group's total restricted assets amounted to **1.69 Billion Yuan**, a **42.95%** decrease from the end of the previous year, primarily due to reduced deposits and statutory reserves with the central bank Asset Restrictions | Indicator | June 30, 2025 | December 31, 2024 | Change from Prior Year-end | | :--- | :--- | :--- | :--- | | Total Restricted Assets | 1.69 Billion Yuan | 2.96 Billion Yuan | (42.95%) | - The decrease was primarily due to a reduction in deposits and statutory reserves with the central bank[105](index=105&type=chunk) 7. Liquidity and Capital Sources As of June 30, 2025, the Group's monetary funds amounted to **26.06 Billion Yuan**, an increase of **20.54%** from the end of the previous year, primarily using cash from operations, bank loans, and other borrowings for development, while maintaining a prudent financial management policy Monetary Funds | Indicator | June 30, 2025 | December 31, 2024 | Change from Prior Year-end | | :--- | :--- | :--- | :--- | | Monetary Funds | 26.06 Billion Yuan | 21.62 Billion Yuan | 20.54% | - The Group primarily uses cash generated from operations, bank loans, and other borrowings as development funds, with cash requirements mainly for production operations, debt repayment, capital expenditures, interest payments, and dividends[106](index=106&type=chunk) 8. Bank Borrowings and Other Debts As of June 30, 2025, the Group's total bank borrowings and other debts amounted to **41.18 Billion Yuan**, an increase from the end of 2024; borrowings are mainly in RMB and HKD, with interest calculated at fixed and floating rates, short-term borrowing rates ranging from **1.01%-5.33%**, and long-term borrowing rates from **1.14%-4.25%** Total Bank Borrowings and Other Debts | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Short-term borrowings, non-current borrowings due within one year, bonds payable due within one year, other current liabilities (super short-term commercial papers), long-term borrowings, and bonds payable | 41.18 Billion Yuan | 39.13 Billion Yuan | - The Group's short-term borrowing interest rates ranged from **1.01%-5.33%** (December 31, 2024: **1.30% to 6.35%**), and long-term borrowing interest rates ranged from **1.14%-4.25%** (December 31, 2024: **1.20% to 4.25%**)[108](index=108&type=chunk) - The Group's outstanding fixed-rate bonds amounted to **6.03 Billion Yuan** (December 31, 2024: **4.54 Billion Yuan**), with maturity dates primarily distributed within one to five years[109](index=109&type:chunk) 9. Other Equity Instruments As of June 30, 2025, the Group's other equity instruments amounted to **4.02 Billion Yuan**, a **1.87%** decrease from the end of the previous year Other Equity Instruments | Indicator | June 30, 2025 | December 31, 2024 | Decrease from Prior Year-end | | :--- | :--- | :--- | :--- | | Other Equity Instruments | 4.02 Billion Yuan | 4.09 Billion Yuan | 1.87% | 10. Capital Structure As of June 30, 2025, the Group's total shareholders' equity was **68.40 Billion Yuan**, total liabilities were **107.04 Billion Yuan**, and total assets were **175.44 Billion Yuan**, with an asset-liability ratio of **61%**, consistent with the end of the previous year Capital Structure Overview | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Shareholders' Equity | 68.40 Billion Yuan | 68.02 Billion Yuan | | Total Liabilities | 107.04 Billion Yuan | 106.73 Billion Yuan | | Total Assets | 175.44 Billion Yuan | 174.75 Billion Yuan | | Asset-Liability Ratio | 61% | 61% | 11. Capital Commitments As of June 30, 2025, the Group's capital expenditure commitments were approximately **181.91 Million Yuan**, a **37.29%** decrease from the end of the previous year, primarily for the construction contracts of fixed assets Capital Expenditure Commitments | Indicator | June 30, 2025 | December 31, 2024 | Decrease from Prior Year-end | | :--- | :--- | :--- | :--- | | Capital Expenditure Commitments | 181.91 Million Yuan | 290.09 Million Yuan | 37.29% | - Primarily used for fixed asset construction contracts[112](index=112&type=chunk) 12. Contingent Liabilities The Group's contingent matters primarily include external guarantees, litigation matters, and outstanding letters of credit and performance bonds - The Group's contingent matters primarily include external guarantees, litigation matters, and outstanding letters of credit and performance bonds[113](index=113&type=chunk) 13. Dividend Distribution The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2025 - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2025 (prior period: none)[114](index=114&type=chunk) 14. Exchange Rate Fluctuation Risk and Related Hedging The Group faces exchange rate fluctuation risks, mainly from a significant proportion of USD-denominated income and non-RMB settled sales, purchases, and financing; management closely monitors and takes appropriate measures to prevent foreign exchange risks - The Group's principal revenue currency has a significant proportion of USD, while its principal expenditure currency is RMB, leading to potential foreign exchange risks arising from RMB exchange rate fluctuations against other currencies[115](index=115&type=chunk) - The Group's management continuously monitors its foreign exchange risks and takes appropriate measures to prevent foreign exchange translation risks[115](index=115&type=chunk) [6. Analysis of Investment Status During the Reporting Period](index=28&type=section&id=6.%20Analysis%20of%20Investment%20Status%20During%20the%20Reporting%20Period) During the reporting period, the company's total investment decreased by **23.97%**; financial asset investments included securities and equity holdings in other listed companies, with derivative investments for hedging purposes resulting in a net loss; the company expects H2 capital expenditures of approximately **3.7 Billion Yuan** for equity acquisitions and fixed asset construction Reporting Period Investment Amount | Indicator | Reporting Period Investment Amount (Thousand Yuan) | Prior Year Period Investment Amount (Thousand Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Investment | 301.77 Million Yuan | 396.92 Million Yuan | (23.97%) | - During the reporting period, the Group's fair value change loss from derivative financial instruments was **3.42 Million Yuan**, and investment loss was **129.90 Million Yuan**, totaling a combined loss of **133.32 Million Yuan**[121](index=121&type=chunk) - The Group's actual capital expenditure in H1 was approximately **1.3 Billion Yuan**, and estimated capital expenditure in H2 is approximately **3.7 Billion Yuan**, mainly for acquiring equity and constructing fixed assets, intangible assets, and other long-term assets[123](index=123&type=chunk) 4. Financial Asset Investments Company financial asset investments include securities and equity holdings in other listed companies, with Qingniao Fire, Shoucheng Holdings, and China Railway Special Cargo as major holdings; derivative investments are for hedging, mainly foreign exchange forward, option, and exchange rate/interest rate swap contracts, resulting in a combined net loss of **180.58 Million Yuan** from derivative investments and exchange gains/losses during the reporting period Equity Holdings in Other Listed Companies (June 30, 2025) | Security Abbreviation | Period-end Book Value (Thousand Yuan) | Accounting Subject | | :--- | :--- | :--- | | Qingniao Fire | 761.74 Million Yuan | Investment in Other Equity Instruments | | Shoucheng Holdings | 137.14 Million Yuan | Investment in Other Equity Instruments | | China Railway Special Cargo | 162.40 Million Yuan | Investment in Other Equity Instruments | | CSG A | 47.75 Million Yuan | Investment in Other Equity Instruments | | Linglong Tire | 45.48 Million Yuan | Trading Financial Assets | | Jinlei Co., Ltd. | 43.49 Million Yuan | Trading Financial Assets | Derivative Investment Status (H1 2025) | Derivative Investment Type | Period-end Amount (Thousand Yuan) | Proportion of Company's Net Assets at Period-end | | :--- | :--- | :--- | | Foreign Exchange Forward Contracts | 547.21 Million Yuan | 1.05% | | Foreign Exchange Option Contracts | 44.10 Million Yuan | 0.08% | | Exchange Rate/Interest Rate Swap Contracts | 1.79 Billion Yuan | 3.43% | | Currency Swap Contracts | - | 0.00% | | Total | 2.38 Billion Yuan | 4.56% | - During the reporting period, the Group's foreign exchange-related derivative investment activities resulted in a net loss of **133.08 Million Yuan**, and exchange losses were **47.50 Million Yuan**, totaling a combined net loss of **180.58 Million Yuan**[121](index=121&type=chunk) [7. Significant Asset and Equity Disposals](index=31&type=section&id=7.%20Significant%20Asset%20and%20Equity%20Disposals) During the reporting period, the Group had no significant investments, acquisitions, or disposals of subsidiaries and associates representing **5%** or more of the company's total assets at period-end - During the reporting period, the Group had no significant investments, acquisitions, or disposals of subsidiaries and associates representing **5%** or more of the company's total assets at period-end[125](index=125&type=chunk) [8. Analysis of Major Holding and Participating Companies](index=32&type=section&id=8.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section analyzes major holding and participating companies impacting the company's net profit by over **10%**, including CIMC Container, CIMC Enric, Ocean Technology Group, CIMC Vehicles, and CIMC Sinotrans, and discloses acquisitions and disposals of major subsidiaries during the reporting period Major Subsidiaries or Associate Companies with Over 10% Impact on Company's Net Profit (H1 2025) | Company Name | Total Assets at Period-end (Thousand Yuan) | Net Assets at Period-end (Thousand Yuan) | Operating Revenue for the Period (Thousand Yuan) | Net Profit for the Period (Thousand Yuan) | | :--- | :--- | :--- | :--- | :--- | | CIMC Container (Group) Co., Ltd. | 38.12 Billion Yuan | 21.01 Billion Yuan | 21.74 Billion Yuan | 1.27 Billion Yuan | | CIMC Enric | 30.62 Billion Yuan | 13.26 Billion Yuan | 12.61 Billion Yuan | 581.04 Million Yuan | | Ocean Technology Group | 19.67 Billion Yuan | 4.54 Billion Yuan | 7.93 Billion Yuan | 525.14 Million Yuan | | CIMC Vehicles | 23.15 Billion Yuan | 14.96 Billion Yuan | 9.75 Billion Yuan | 408.19 Million Yuan | | CIMC Sinotrans | 8.17 Billion Yuan | 3.22 Billion Yuan | 13.58 Billion Yuan | 202.08 Million Yuan | Acquisition and Disposal of Major Subsidiaries During the Reporting Period | Company Name | Method of Acquisition and Disposal of Subsidiaries During the Reporting Period | Impact on Overall Production, Operations, and Performance | | :--- | :--- | :--- | | Zhejiang CIMC Marwind Fan Co., Ltd. | Cash acquisition | No significant impact | | Youqi Environmental Engineering (Shanghai) Co., Ltd. | Cash acquisition | No significant impact | [9. Structured Entities Controlled by the Company](index=33&type=section&id=9.%20Structured%20Entities%20Controlled%20by%20the%20Company) During the reporting period, the company had no controlled structured entities - During the reporting period, the company had no controlled structured entities[132](index=132&type=chunk) [10. Company Employee Information](index=33&type=section&id=10.%20Company%20Employee%20Information) As of June 30, 2025, the Group had a total of **82,498 employees** globally, with total employee costs of approximately **7.37 Billion Yuan**; the company implements a compensation policy based on performance, position value, experience, and market wages, and has established a multi-level talent development system Employee Numbers and Costs | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Global Employees | 82,498 persons | 78,776 persons | | Total Global Contract Employees | 51,184 persons | 50,686 persons | | Total Employee Costs (H1 2025) | 7.37 Billion Yuan | 6.45 Billion Yuan | - The Group implements a compensation policy based on performance, position value, experience, and market wages to incentivize employees[132](index=132&type=chunk) - The company has established a multi-level, blended talent development system, including new employee onboarding training, general skills training, professional training, leadership development programs, and international talent development programs[133](index=133&type=chunk) [11. Risks Faced by the Company and Countermeasures](index=33&type=section&id=11.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The risks faced by the company and corresponding countermeasures are detailed in "Section III Management Discussion and Analysis," "3. Company's Future Development and Outlook" - The risks faced by the company and corresponding countermeasures are detailed in "Section III Management Discussion and Analysis," "3. Company's Future Development and Outlook," specifically in "1. Industry Analysis and Business Strategies for Key Business Segments" and "2. Key Risk Factors for the Group's Future Development"[134](index=134&type=chunk) [12. Post-Balance Sheet Events](index=33&type=section&id=12.%20Post-Balance%20Sheet%20Events) For details on the Group's post-balance sheet events during the reporting period, please refer to Note XIV of "Section VIII 2025 Semi-Annual Financial Report (Unaudited)" in this report - For details on the Group's post-balance sheet events during the reporting period, please refer to Note XIV of "Section VIII 2025 Semi-Annual Financial Report (Unaudited)" in this report[135](index=135&type=chunk) [13. Disclosures Required by HKEX Listing Rules](index=33&type=section&id=13.%20Disclosures%20Required%20by%20HKEX%20Listing%20Rules) The company confirms that there have been no significant changes to its existing company information compared to the disclosures in the 2024 annual report - The company confirms that there have been no significant changes to its existing company information compared to the disclosures in the company's 2024 annual report[136](index=136&type=chunk) [14. Registration Form for Research, Communication, Interview, and Other Activities During the Reporting Period](index=33&type=section&id=14.%20Registration%20Form%20for%20Research%2C%20Communication%2C%20Interview%2C%20and%20Other%20Activities%20During%20the%20Reporting%20Period) During the reporting period, the company actively engaged in investor relations activities, hosting institutional investors, shareholder representatives, and media reporters through strategy meetings, on-site meetings, teleconferences, and online platforms to discuss business status, investment progress, recent business dynamics, and industry outlook - During the reporting period, the company hosted institutional investors such as China Galaxy Securities, Huatai Securities, China Asset Management, and UBS O'Connor, discussing the company's principal business status, investment progress, recent business dynamics, and industry outlook[137](index=137&type=chunk) - Reception activities included strategy meetings, on-site meetings, and teleconferences held in Shenzhen, Beijing, Wuhan, Shanghai, and other locations, as well as online exchanges through platforms such as Roadshow China, Panorama Network, E-Dong, Futu, Hithink RoyalFlush, and Eastmoney[137](index=137&type=chunk)[138](index=138&type=chunk)[139](index=139&type=chunk) - On March 28, 2025, the company conducted an online exchange for all investors, providing a review of 2024 performance, highlights of business, and an outlook on 2025 operating plans[138](index=138&type=chunk) [15. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=35&type=section&id=15.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company has formulated the "China International Marine Containers (Group) Co., Ltd. Market Value Management System" to enhance investment value and shareholder returns, but has not disclosed a valuation enhancement plan - The company has formulated the "China International Marine Containers (Group) Co., Ltd. Market Value Management System," which was approved by the Board of Directors on January 7, 2025[141](index=141&type=chunk) - This system aims to continuously promote the enhancement of the company's investment value, further increase investor returns, and effectively regulate the company's market value management activities[141](index=141&type=chunk) - The company has not disclosed a valuation enhancement plan[143](index=143&type=chunk) [16. Implementation of the 'Quality and Return Dual Enhancement' Action Plan](index=35&type=section&id=16.%20Implementation%20of%20the%20%27Quality%20and%20Return%20Dual%20Enhancement%27%20Action%20Plan) During the reporting period, the company did not disclose a "Quality and Return Dual Enhancement" action plan - During the reporting period, the company did not disclose a "Quality and Return Dual Enhancement" action plan[144](index=144&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=36&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) [1. Corporate Governance and Enterprise Management](index=36&type=section&id=1.%20Corporate%20Governance%20and%20Enterprise%20Management) The company is committed to enhancing corporate governance standards, having complied with the code provisions in Appendix C1 of the HKEX Listing Rules throughout the reporting period, with all directors and supervisors confirming full compliance with the Model Code for securities transactions - The company has consistently complied with the code provisions contained in Part 2 of Appendix C1 of the HKEX Listing Rules during the reporting period[146](index=146&type=chunk) - Upon inquiry to all directors and supervisors, all directors and supervisors have confirmed their full compliance with the standards stipulated in the Model Code during the reporting period[148](index=148&type=chunk) [2. Directors, Supervisors, Senior Management, and Their Interests During the Reporting Period](index=36&type=section&id=2.%20Directors%20%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Their%20Interests%20During%20the%20Reporting%20Period) During the reporting period, there were multiple changes in the company's directors, supervisors, and senior management, including elections, resignations, and reappointments; some directors' personal information changed, and as of June 30, 2025, some directors held A-shares or shares in associated corporations - During the reporting period, there were multiple changes in the company's directors, supervisors, and senior management, including the election or reappointment of Mai Boliang, Zhu Zhiqiang, Mei Xianzhi, Zhao Jintao, Xu Laping, Zhao Feng, Zhang Guanghua, Yang Xiong, and Wang Guixun, and the resignations of Hu Xianfu, Deng Weidong, Sun Huirong, and Lyu Fengmeiyi[149](index=149&type=chunk) - Mr. Mei Xianzhi ceased to serve as a director of Huashang Energy Technology Co., Ltd. from May 2025 and began serving as a director of Beijing Guohai Offshore Engineering Asset Management Co., Ltd. from June 2025[151](index=151&type=chunk) Directors' Interests in the Company's Shares (June 30, 2025) | Name | Nature of Interest | Share Class | Number of Shares | | :--- | :--- | :--- | :--- | | Mai Boliang | Beneficial Interest | A-shares | 890,465 | Directors' Interests in Shares of Associated Corporations (June 30, 2025) | Name | Corporation Name | Nature of Interest | Number of Securities (shares) | | :--- | :--- | :--- | :--- | | Mai Boliang | CIMC Enric | Beneficial Interest | 8,260,000 (Ordinary Shares) | [3. Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period](index=38&type=section&id=3.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20During%20the%20Reporting%20Period) The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2025; the 2024 profit distribution plan was completed on July 11, 2025, distributing **0.176 Yuan** cash (tax inclusive) per share to all shareholders - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2025 (prior period: none)[155](index=155&type=chunk) - The 2024 equity distribution plan was approved at the shareholders' meeting on May 15, 2025, distributing **0.176 Yuan** cash (tax inclusive) per share to all shareholders based on **5,367,874,835 shares**[156](index=156&type=chunk) - The company completed the 2024 dividend distribution on July 11, 2025[156](index=156&type=chunk) [4. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures During the Reporting Period](index=38&type=section&id=4.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures%20During%20the%20Reporting%20Period) The company's core personnel stock ownership plan has not yet been implemented; however, the Group's subsidiaries, such as Enric, CIMC Environmental Technology, and CIMC Methanol Technology, have implemented equity incentive plans to improve corporate governance and motivate employees - The company's core personnel stock ownership plan aims to motivate employees' sense of mission and responsibility and promote the company's long-term development by purchasing the company's A-shares in the secondary market or acquiring repurchased A-shares[157](index=157&type=chunk) - As of the disclosure date of this report, the company has not implemented any phase of the core personnel stock ownership plan[161](index=161&type=chunk) - The company has no share schemes of major subsidiaries requiring disclosure under Chapter 17 of the HKEX Listing Rules[162](index=162&type=chunk) [5. Environmental Information Disclosure](index=39&type=section&id=5.%20Environmental%20Information%20Disclosure) The company and its **19** major subsidiaries are included in the list of enterprises required to disclose environmental information, with relevant reports available through provincial ecological environment departments' disclosure systems - The company and its **19** major subsidiaries have been included in the list of enterprises required to disclose environmental information in accordance with the law[163](index=163&type=chunk) - Each listed enterprise can access its environmental information disclosure report through the enterprise environmental information disclosure system of its local ecological environment department[163](index=163&type=chunk)[164](index=164&type=chunk) [6. Social Responsibility](index=40&type=section&id=6.%20Social%20Responsibility) The Group adheres to the concept of sustainable development and has consistently published sustainable development reports for many years, proactively disclosing its social responsibility performance and ESG practices - Guided by the company vision of "becoming a high-quality, respected world-class enterprise," the Group unswervingly implements the concept of sustainable development[165](index=165&type=chunk) - The Group has continuously published sustainable development reports for many years, proactively disclosing its high standards in fulfilling social responsibilities and practicing ESG to all stakeholders[165](index=165&type=chunk) [Section V Significant Matters](index=41&type=section&id=Section%20V%20Significant%20Matters) [1. Commitments Fulfilled and Unfulfilled by Actual Controller, Shareholders, Related Parties, Acquirers, and the Company as of the End of the Reporting Period](index=41&type=section&id=1.%20Commitments%20Fulfilled%20and%20Unfulfilled%20by%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20as%20of%20the%20End%20of%20the%20Reporting%20Period) The company commits not to raise funds through rights issues before domestic residents can subscribe to overseas shares and has formulated a shareholder dividend return plan for 2025-2027, with both commitments currently being fulfilled - The company commits not to raise funds through rights issues before domestic residents can subscribe to overseas shares, and this commitment is currently being fulfilled[167](index=167&type=chunk) - The company has formulated a shareholder dividend return plan (2025-2027), and this commitment is currently being fulfilled[167](index=167&type=chunk) [2. Non-Operating Funds Occupied by Controlling Shareholders and Other Related Parties from the Listed Company](index=41&type=section&id=2.%20Non-Operating%20Funds%20Occupied%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties%20from%20the%20Listed%20Company) The company has no non-operating funds occupied by controlling shareholders and other related parties from the listed company - For details on non-operating funds occupied by the company's related parties from the Group, please refer to the "Summary Table of Non-Operating Funds Occupied and Other Related Party Fund Transactions for the First Half of 2025" disclosed by the company on the same day[168](index=168&type=chunk) [3. Irregular External Guarantees](index=41&type=section&id=3.%20Irregular%20External%20Guarantees) During the reporting period, the company had no irregular external guarantees - During the reporting period, the company had no irregular external guarantees[169](index=169&type=chunk) [4. Appointment and Dismissal of Accounting Firms](index=41&type=section&id=4.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's 2025 semi-annual financial report is unaudited; on May 15, 2025, KPMG Huazhen LLP was appointed as the accounting firm for the 2025 annual financial statement audit and internal control audit - The company's 2025 semi-annual financial report is unaudited[169](index=169&type=chunk) - On May 15, 2025, approved by the 2024 Annual General Meeting, the company appointed KPMG Huazhen LLP (Special General Partnership) as the accounting firm for the company's 2025 annual financial statement audit and internal control audit[170](index=170&type=chunk) [5. Board of Directors' and Supervisory Board's Explanations on the 'Non-Standard Audit Report' for the Current Period](index=42&type=section&id=5.%20Board%20of%20Directors%27%20and%20Supervisory%20Board%27s%20Explanations%20on%20the%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Current%20Period) During the reporting period, the company had no non-standard audit report - During the reporting period, the company had no non-standard audit report[171](index=171&type=chunk) [6. Board of Directors' Explanations on the 'Non-Standard Audit Report' for the Previous Year](index=42&type=section&id=6.%20Board%20of%20Directors%27%20Explanations%20on%20the%20%27Non-Standard%20Audit%20Report%27%20for%20the%20Previous%20Year) During the reporting period, the company had no non-standard audit report for the previous year - During the reporting period, the company had no non-standard audit report for the previous year[171](index=171&type=chunk) [7. Bankruptcy Reorganization Matters](index=42&type=section&id=7.%20Bankruptcy%20Reorganization%20Matters) During the reporting period, no bankruptcy reorganization matters occurred - No bankruptcy reorganization matters occurred during the reporting period[171](index=171&type=chunk) [8. Litigation Matters](index=42&type=section&id=8.%20Litigation%20Matters) There were no significant litigation or arbitration matters during the reporting period; as of the end of the reporting period, the Group had other pending lawsuits totaling approximately **999 Million Yuan**, primarily involving GOODPACK's litigation and arbitration against the company and its subsidiaries, all in early stages with uncertain outcomes - There were no significant litigation or arbitration matters during the reporting period[172](index=172&type=chunk) - As of the end of the reporting period, the Group had other pending lawsuits (including litigation and arbitration) totaling approximately **999 Million Yuan**[173](index=173&type=chunk) - This primarily involves GOODPACK's litigation (**9.86 Million USD**) and arbitration (**19.81 Million USD**) against the company and its subsidiaries; the litigation is currently suspended, and the arbitration tribunal has been formed but has not yet commenced hearings[173](index=173&type=chunk) [9. Penalties and Rectification](index=42&type=section&id=9.%20Penalties%20and%20Rectification) During the reporting period, the company had no penalties or rectification situations - During the reporting period, the company had no penalties or rectification situations[174](index=174&type=chunk) [10. Integrity Status of the Company, its Controlling Shareholders, and Actual Controllers](index=42&type=section&id=10.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholders%2C%20and%20Actual%20Controllers) During the reporting period, the company, its controlling sh

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） (股份代號：02039) 海外監管公告 本公告乃中國國際海運集裝箱（集團）股份有限公司（「公司」）根據香港聯合交易所有 限公司證券上市規則第 13.10B 條作出。 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 2025 年半年度報告》，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 1 中国国际海运集装箱（集团）股份有限公司 2025 年半年度报告 重要提示 本公司董事会、监事会及董事、监事、高级管理人员保证2025年半年度报告（以下简称"本报 ...

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） 2025年半年度業績公告（2025年半年度報告摘要） 1 重要提示 （H股股份代號：02039） （A股股份代號：000039） 1 1.1 中國國際海運集裝箱（集團）股份有限公司（「本公司」或「中集」，與其附屬公司合 稱「本集團」或「集團」）董事會（「董事會」）、監事會（「監事會」）及董事（「董事」）、 監事（「監事」）、高級管理人員保證2025年半年度業績公告（「本公告」）所載資 料不存在虛假記載、誤導性陳述或者重大遺漏，並對本集團截至2025年6月 30日之半年度報告（「2025年半年度報告」）之內容的真實性、準確性和完整性 承擔個別及連帶責任。本公告摘自2025年半年度報告，並在香港聯 ...

香港交易及結算所有限公司及香港聯合交易所有限公司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。 本公告乃中國國際海運集裝箱（集團）股份有限公司（「本公司」）根據《深圳證券交 易所股票上市規則》的規定在中國境內刊登，並根據香港聯合交易所有限公司證 券上市規則第13.10B條而在香港同步公佈。 一、 董事會會議召開情況 本公司第十一屆董事會2025年度第8次會議通知於2025年8月15日以書面形 式發出，會議於2025年8月27日在中集集團研發中心召開。本公司現有董事 九人，全體董事出席會議。本公司監事列席會議。 會議的召集召開符合《中華人民共和國公司法》《中華人民共和國證券法》《中 國國際海運集裝箱（集團）股份有限公司章程》和《中國國際海運集裝箱（集團） 股份有限公司董事會議事規則》等的有關規定。 1 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 ...