CIMC posts record-high revenue and profit in 2020 despite the coronavirus impact

News provided by

Mar 31, 2021, 23:54 ET

SHENZHEN, China, March 31, 2021 /PRNewswire/ -- Chinese leading logistics and energy equipment supplier China International Marine Containers (Group) Ltd posted approximately 94.16 billion yuan ($14.33 billion) in operating revenue in 2020, growing 9.72 percent year-on-year, according to its 2020 annual report published late on March 29.

Net profit attributable to shareholders of the parent company surged 246.88 percent on a yearly basis to 5.35 billion yuan. Basic earnings per share rose 281.08 percent to 1.41 yuan.

The Shenzhen-headquartered company, listed both in Shenzhen and in Hong Kong, will distribute the full-year dividend of 0.28 yuan per share in cash to its shareholders.

Despite the impact from the COVID-19 pandemic in 2020, CIMC managed to retain its leading market position in the industry by adopting a series of risk management measures and optimizing strategic planning.

Containers business generated 22.16 billion yuan in operating revenue last year, increasing 9.92 percent from a year earlier, while net profit reached approximately 1.99 billion yuan. The company's standard containers and special containers ranked the first globally in market share.

Operating revenue of vehicles business hit historical high of 26.5 billion yuan in 2020, growing 13.56 percent year-on-year. Net profit stood at 1.27 billion yuan. Global sales of semi-trailers continued to take the lead in the industry, increasing 11.57 percent to 131, 327.

Regarding to company's clean energy, chemical & environmental and Liquid food business, the market share of LNG trailers, LNG tank containers, LNG storage tanks, industrial gas storage tanks, CNG/LNG refueling stations, and LNG on-vehicle fuel tanks has been increased in 2020. The top three products sold in the segment are cryogenic storage tanks, LNG on-vehicle fuel tanks and LNG trailers, as the segment posted RMB 13.29 billion in operating revenue and 360 million yuan in net profit.

In CIMC's air facilities business unit, passenger boarding bridge continued to maintain its leading position in the world market; fire truck and rescue equipment also grew fast, paving the way for the company to become China's biggest fire and rescue equipment group.

Logistics services became CIMC's fourth business unit to hit 10 billion yuan in operating revenue, which grew 16.15 percent year-on-year to 10.64 billion yuan in 2020. Net profit soared 140.57 percent to 266 million yuan. Container throughput reached 15 million TEU annually, continuing to rank the first in the Chinese market. The company also kept its NO.1 position in the country in terminal handling business in 2020, with 5.7 million TEU being handled.

In the segment of ocean engineering, meanwhile, CIMC actively promoted ocean fishery, offshore wind power, marine cultural toursim and other businesses not related to oil and gas in order to enhance its risk-resisting capabilities. The business unit expanded 20.12 percent year-on-year to 5.43 billion yuan in 2020.

SOURCE CIMC