CIMC VEHICLES(301039)2025-04-03 08:00Group 1: Market Performance and Outlook - In 2024, the EU new truck registration volume decreased by 6.3%, impacting the semi-trailer industry due to weak economic recovery [3] - Despite the downturn, the company's semi-trailer business in Europe achieved a gross margin increase of 2.4 percentage points through product structure optimization and supply chain localization [3] - The company's market share in Australia ranked among the top six for two consecutive years, reflecting a strong position in the market [3] Group 2: Strategic Initiatives for 2025 - The company plans to implement the "Star Chain Plan," "Three Good Development," and "Rising Plan" to enhance productivity and profitability in the global semi-trailer business [4] - Focus on expanding partnerships with new energy manufacturers and optimizing the management of six announced factories under a unified business group framework [4][5] - The company aims to enhance user experience by providing comprehensive solutions, including financial services and digital maintenance [5] Group 3: Cost Reduction and Supply Chain Management - In 2024, the company increased its centralized procurement ratio from below 50% to over 85%, managing over 20 major categories and 62 subcategories of materials [6] - The centralized procurement strategy yielded savings of over 80 million in 2024, with plans to further solidify this approach in 2025 [6] Group 4: Global Operations and Market Expansion - The company's cross-ocean operations contributed nearly 50% to profits in 2020 and exceeded 50% in revenue by 2023 [7] - Future strategies include expanding sales in global southern markets and enhancing supply chain resilience in North America [7]