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].

Core Insights - The document provides data on technology-oriented listed companies from 1993 to 2025, covering over 24,000 samples and more than 8,000 enterprises, including those from mainland China, Hong Kong, and the New Third Board [1][3] - The scope of technology-oriented enterprises includes 12 categories, such as innovative small and medium-sized enterprises, high-tech enterprises, and national-level technology innovation demonstration enterprises [4][5] - The data is sourced from the Ministry of Science and Technology of China and various provincial and municipal science and technology departments, aimed at measuring the innovation and entrepreneurship levels of listed companies or regions [5][6] Data Overview - The dataset includes specific indicators such as stock code, company name, listing type, technology enterprise type, announcement date, announcement year, recognition year, announcement unit, information description, industry, province, city, and district [2] - Examples of companies listed include: - Shenzhou High-speed Railway Technology Co., Ltd. recognized as a technology enterprise in 2019 [2] - China Southern Glass Holding Co., Ltd. recognized as a national-level manufacturing single champion demonstration enterprise in 2024 [2] - ZTE Corporation recognized as a national enterprise technology center and high-tech enterprise in 2023 and 2024 [2]

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]

Group 1 - The combustible ice concept sector rose by 3.86%, ranking second among concept sectors, with 10 stocks increasing, including DeSheng Co., which hit the daily limit, and ShenKong Co. and Petrochemical Machinery also reaching the limit [1] - Leading stocks in the combustible ice sector included QianNeng HengXin, HaiMo Technology, and XinJin Power, which rose by 3.63%, 3.57%, and 2.21% respectively [1] - The stocks with the largest declines included NanSteel Co., Guangzhou Development, and China International Marine Containers, which fell by 0.58%, 0.14%, and 0.12% respectively [1] Group 2 - The combustible ice sector saw a net inflow of 305 million yuan from main funds today, with six stocks receiving net inflows, and five stocks exceeding 10 million yuan in net inflow [2] - ShenKong Co. led the net inflow with 161 million yuan, followed by China Petroleum & Chemical Corporation, Petrochemical Machinery, and DeSheng Co. with net inflows of 65.33 million yuan, 51.01 million yuan, and 42.43 million yuan respectively [2] - The net inflow ratios for ShenKong Co., Petrochemical Machinery, and DeSheng Co. were 44.51%, 24.72%, and 17.80% respectively [3] Group 3 - The top stocks in the combustible ice sector based on net inflow included ShenKong Co. with a daily increase of 10.04% and a turnover rate of 10.98%, followed by Petrochemical Machinery with a 10.03% increase and a turnover rate of 3.25% [3] - Other notable stocks included China Petroleum & Chemical Corporation, which increased by 1.11% with a turnover rate of 0.15%, and DeSheng Co., which increased by 19.98% with a turnover rate of 8.25% [3] - Stocks with declines included NanSteel Co. with a decrease of 0.58% and a turnover rate of 0.50%, and Guangzhou Development with a decrease of 0.14% and a turnover rate of 0.76% [4]

Group 1 - The board of directors of China International Marine Containers (Group) Co., Ltd. will hold a meeting on October 30, 2025, to approve the third quarter performance for the nine months ending September 30, 2025, along with its release [1] - The meeting will take place at the company's R&D center located at No. 2, Shekou Port Avenue, Nanshan District, Shenzhen, Guangdong Province [1] - The company assures that the announcement content is true, accurate, and complete, with no false records, misleading statements, or significant omissions [1]

董事會會議通知 中 國 國 際 海 運 集 裝 箱（集 團）股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，董 事 會 將 於 二 零 二 五 年 十 月 三 十 日（星 期 四）在 中 華 人 民 共 和 國 廣東省深圳市南山區蛇口港灣大道2號 中 集 集 團 研 發 中 心 舉 行 會 議，以 批准本公司及其附屬公司截至二零二五年九月三十日止九個月之第三季 度業績及其發佈。 本公告登載於本公司網站(http://www.cimc.com)及香港聯交所網站 (http://www.hkexnews.hk)，以供瀏覽。 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 ...

证券代码：000039、299901 证券简称：中集集团、中集 H 代 公告编号：【CIMC】2025-097 中国国际海运集装箱（集团）股份有限公司 董事会 二〇二五年十月十九日 中国国际海运集装箱（集团）股份有限公司（以下简称"本公司"）董事会将于 2025年10月30日（星期四）在广东省深圳市南山区蛇口港湾大道2号中集集团研发中心 举行会议，以批准本公司及其附属公司截至2025年9月30日止九个月之第三季度业绩及 其发布。 特此公告。 中国国际海运集装箱（集团）股份有限公司 关于董事会会议通知的公告 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。 ...