Core Viewpoint - The global shipbuilding and offshore engineering market is expected to continue improving in 2024, leading to significant growth in the performance of CIMC Group, with a reported revenue of 177.664 billion yuan and a net profit of 2.972 billion yuan, marking year-on-year increases of 39.01% and 605.60% respectively [2][3]. Group 1: Financial Performance - In 2024, CIMC Group achieved a revenue of 177.664 billion yuan, a year-on-year increase of 39.01%, setting a new record [2]. - The net profit reached 2.972 billion yuan, reflecting a substantial year-on-year growth of 605.60% [2]. - The container manufacturing segment generated revenue of 62.205 billion yuan, with a year-on-year increase of 105.89%, and a net profit of 4.088 billion yuan, up 127.84% [5]. Group 2: Business Segments and Orders - The offshore engineering division of CIMC Group turned profitable for the first time, with a significant reduction in losses from the asset pool platform [3]. - CIMC Raffles achieved a record high in new offshore engineering orders, totaling 3.25 billion USD, nearly doubling year-on-year [3]. - The company holds nearly 7 billion USD in backlog orders, with production scheduled through 2027, indicating a locked-in growth trajectory [9]. Group 3: Technological Advancements - CIMC Raffles made significant technological breakthroughs, including the first total package order for FLNG retrofitting, enhancing its position in the offshore engineering sector [6]. - The company is the first in China to use high manganese steel for the construction of liquefied natural gas vessels, showcasing its innovation capabilities [6]. Group 4: Strategic Outlook - The company plans to reassess and upgrade its five-year strategic plan by 2025, focusing on quality and efficiency improvements [9]. - CIMC Group is committed to optimizing its asset portfolio and enhancing resource allocation efficiency through various measures [9]. Group 5: Shareholder Engagement - In 2024, CIMC Group allocated approximately 200 million yuan for an A-share repurchase plan, demonstrating confidence in its value and commitment to shareholder rights [10]. - CIMC Vehicles completed a privatization of H-shares, spending over 1 billion HKD, reflecting a proactive approach to shareholder returns [10].