Core Viewpoint - CIMC Group is experiencing significant growth in its energy equipment sector, driven by a focus on self-sufficiency in key energy equipment and a strong performance in its financial results for the first three quarters of 2025 [1] Financial Performance - CIMC Group reported a revenue of 117.06 billion yuan and a net profit attributable to shareholders of 1.566 billion yuan for the first three quarters of 2025, with a substantial improvement in cash flow, achieving a net cash flow from operating activities of approximately 9.8 billion yuan, a fivefold increase year-on-year [1] - As of the end of Q3, the company had cash and cash equivalents of 25.155 billion yuan [1] - The company has initiated share buyback plans totaling up to 500 million HKD for H-shares and 300-500 million yuan for A-shares, having already repurchased approximately 19 million HKD worth of H-shares and 10 million yuan worth of A-shares [1] Business Growth - The energy equipment business has emerged as a core growth driver alongside logistics equipment, with a focus on high-end upgrades in traditional oil and gas equipment and a commitment to clean energy sectors such as methanol and hydrogen [1] - CIMC's marine engineering business is entering a stable delivery phase, benefiting from improved delivery efficiency and management, with a focus on high-end marine products like FPSO projects [2] LNG and Clean Energy - The demand for LNG storage and transportation equipment is growing steadily, particularly due to policies encouraging the replacement of old vessels, leading to a significant increase in revenue from waterborne clean energy business, which reached 4.806 billion yuan, a year-on-year increase of 64.3% [3] - CIMC Anrui Technology has become the leading supplier of clean energy power systems, with a total order backlog of approximately 30.763 billion yuan, a year-on-year increase of 10.9% [3] Green Methanol Supply Chain - The global push for decarbonization is driving the demand for green methanol, which is becoming a key choice for shipping emissions reduction due to its favorable characteristics [4] - As of September 2025, 75 green methanol fuel vessels are in operation, with demand for methanol fuel expected to exceed 2 million tons per year [5] - CIMC Anrui Technology is actively expanding its green methanol production capacity, with a 50,000-ton biomass green methanol project expected to start production in Q4 2025 [5][6] Hydrogen Energy Development - The hydrogen energy sector is advancing with decreasing production costs and increasing storage efficiency, supported by national policies [7] - CIMC Anrui Technology is enhancing its capabilities in hydrogen equipment and has initiated profitable projects, including a coke oven gas hydrogen production project [7] - The company aims to achieve a total production capacity of 1 million tons of LNG and 200,000 tons of hydrogen by 2027 through collaborations with major steel companies [7][8]

Core Insights - The company reported a revenue of 117.06 billion yuan and a net profit attributable to shareholders of 1.566 billion yuan for the first three quarters of 2025, with a basic earnings per share of 0.2803 yuan [1] Group 1: Vehicle Business - The vehicle segment, under CIMC Vehicles (Group) Co., Ltd., sold a total of 101,600 vehicles globally, achieving a year-on-year growth of 7.21% and a revenue of 15.012 billion yuan [2] - The domestic semi-trailer business saw a revenue increase of 16.3% year-on-year, with a gross margin improvement of 2.6 percentage points [2] - The overseas semi-trailer business maintained profitability despite market disruptions, with a revenue growth of 15.79% and a sales volume increase of 21.39% year-on-year [2] Group 2: Airport and Logistics Equipment - CIMC Tianda Holdings Co., Ltd. experienced rapid growth in revenue and profit across its business lines, driven by optimized delivery schedules and the release of high-quality orders [3] - The logistics equipment segment benefited from significant international orders, including a large-scale automated warehouse project for the domestic chemical industry [3] - The firefighting and rescue equipment business expanded globally while focusing on domestic market growth, with advancements in product development and participation in national-level projects [3] Group 3: Logistics Services - CIMC Shilian Logistics Technology (Group) Co., Ltd. faced operational challenges due to declining global shipping rates and changing market demands but improved cash flow significantly through effective management strategies [4] - The company initiated a "second entrepreneurship" strategy to adjust its business structure and enhance global operational capabilities, including the establishment of new offices in the Middle East and Africa [4] - CIMC Shilian ranked among the top four in the latest comprehensive ranking of freight forwarding companies in China, indicating a solidified industry position [4] Group 4: Circular Transport Equipment - The circular transport equipment segment achieved year-on-year revenue and net profit growth, successfully turning a profit due to significant market order breakthroughs and cost-reduction measures [5] - The manufacturing business benefited from orders from new energy clients, leading to notable revenue and gross margin increases [5] - The service business saw a substantial improvement in gross margin, attributed to focused investments in the automotive engine market and enhanced asset management capabilities [5]

Group 1: Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 117.06 billion yuan and a net profit attributable to shareholders of 1.566 billion yuan, with operating net cash flow increasing significantly by 510.19% to 9.827 billion yuan [1] - The energy-related business showed strong performance, with the marine engineering segment improving operational efficiency and profitability year-on-year [1] - The core platform for energy and chemical equipment, CIMC Enric, reported revenue and net profit growth of 7.7% and 12.9% respectively, with a backlog of orders amounting to approximately 30.763 billion yuan, reflecting a year-on-year increase of 10.9% [1] Group 2: Logistics Business - Despite challenges such as U.S. tariffs and geopolitical tensions, global commodity trade growth remained resilient, with Clarkson's latest forecast predicting a 3.0% year-on-year increase in global container trade volume for 2025 [2] - The company sold a total of 1.8018 million TEUs of dry cargo containers in the first three quarters, maintaining a solid performance, while refrigerated container sales surged by 64.35% to 153,500 TEUs driven by South American fruit exports [2] - Vehicle sales globally reached 101,583 units, showing a counter-cyclical growth of 7.21%, with significant revenue and gross margin increases in the Chinese semi-trailer business and rapid growth in new energy equipment [2] Group 3: Share Buyback Initiatives - The company has actively engaged in share buyback programs, announcing a plan to repurchase up to 500 million HKD of H-shares and 300 to 500 million yuan of A-shares to maintain company value and protect shareholder interests [3] - As of October 30, the cumulative amount spent on H-share buybacks was approximately 190 million HKD, corresponding to about 25.79 million shares, while A-share buybacks totaled around 103 million yuan for approximately 12.45 million shares [3] - The steady progress of the buyback plan reflects the management's strong confidence in the company's long-term development [3]

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】 ...

Financial Performance - For Q3 2025, the company's operating revenue was CNY 40,970,452 thousand, a decrease of 17.82% year-over-year[9] - The net profit attributable to shareholders was CNY 287,459 thousand, down 70.13% compared to the same period last year[9] - The net profit excluding non-recurring gains and losses was CNY 214,387 thousand, a decline of 75.39% year-over-year[9] - The company achieved a revenue of RMB 117.06 billion for the first three quarters of 2025, a decrease of 9.23% compared to RMB 128.97 billion in the same period last year[24] - The net profit attributable to shareholders was RMB 1.566 billion, down 14.35% from RMB 1.828 billion year-on-year[24] - Total operating revenue for the first nine months of 2025 was CNY 117,060,844, a decrease of 9.4% compared to CNY 128,970,687 in the same period of 2024[54] - Net profit for the first nine months of 2025 was CNY 2,394,857, down 12.2% from CNY 2,726,205 in 2024[56] Cash Flow and Liquidity - The net cash flow from operating activities reached CNY 2,672,710 thousand, an increase of 12.58% compared to the previous year[9] - The company reported a net cash flow from operating activities of CNY 9,827,135 for the first nine months of 2025, significantly higher than CNY 1,610,497 in 2024[64] - The company reported a cash balance of RMB 25,154,922 thousand, up from RMB 21,621,312 thousand in the previous year, indicating improved liquidity[40] - The net increase in cash and cash equivalents for the first nine months of 2025 was CNY 4,875,329, compared to CNY 1,288,616 in 2024, indicating a significant improvement[70] - The ending balance of cash and cash equivalents as of September 2025 was CNY 23,860,490, up from CNY 21,639,432 at the end of September 2024[70] Assets and Liabilities - The total assets as of September 30, 2025, were CNY 175,252,043 thousand, reflecting a slight increase of 0.29% from the end of 2024[9] - Total liabilities decreased slightly to RMB 106,232,575 thousand from RMB 106,732,434 thousand in 2024[44] - Shareholders' equity increased to RMB 69,019,468 thousand from RMB 68,019,802 thousand, reflecting a positive trend in shareholder value[46] - The total liabilities increased to CNY 23,880,585 as of September 30, 2025, compared to CNY 22,353,399 at the end of 2024, reflecting a growth of 6.8%[52] - Shareholders' equity rose to CNY 31,297,555 as of September 30, 2025, up from CNY 30,261,879 at the end of 2024, representing an increase of 3.4%[52] Business Segments and Operations - Container manufacturing business sold 1.8018 million TEUs, a decline of approximately 27.53% from 2.4863 million TEUs in the previous year[24] - Refrigerated container sales increased significantly to 153,500 TEUs, up 64.35% from 93,400 TEUs in the same period last year, driven by South American fruit exports[24] - The logistics service segment, CIMC Shilian achieved a significant improvement in cash flow year-on-year, despite facing challenges from declining global shipping rates and market demand[28] - The circular vehicle business turned profitable with significant revenue growth, attributed to substantial orders from new energy clients and cost-reduction measures[29] - CIMC Tian Da's revenue and profit showed rapid growth, benefiting from optimized delivery schedules and the release of high-quality orders[26] - The marine engineering business reported improved operational efficiency, with successful deliveries of multiple projects, including the 7000-car capacity transport vessel[32] Market Conditions and Future Outlook - The global container trade volume is expected to grow by 3.0% in 2025, according to Clarkson's forecast[24] - The company plans to continue monitoring international market conditions and adjust strategies to mitigate adverse impacts from currency fluctuations[17] - The average Brent crude oil price in Q3 was $68.17 per barrel, reflecting a recovery from the previous quarter, indicating a positive outlook for the drilling platform market[34] - The energy storage business showed steady growth, with a target of 180GW for installed capacity by 2027, indicating a need for 2.4 times growth from 2024 levels, reflecting an acceleration in marketization and scaling[35] Shareholder Information - The top 10 shareholders include Hong Kong Central Clearing with 58.43% ownership, and Shenzhen Liyue Industrial Group holding 5.10%[20] - The company has a total of 115,873 common shareholders at the end of the reporting period[19] - The company has not engaged in any repurchase transactions during the reporting period[22] - As of the report date, the company repurchased 25,794,200 H shares for approximately HKD 190 million and 12,452,990 A shares for about RMB 103 million, with plans to repurchase up to HKD 500 million and RMB 500 million in total[37]

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].