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    1839   CNE100003K46


End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 10/28
5.39 HKD   -4.09%
10/27CIMC Vehicles' Q3 Profit Slumps 57.6%
10/26CIMC Vehicles Announces Management Changes
10/26CIMC Vehicles Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2021
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

CIMC Vehicles : is Officially Listed on the ChiNext Board of China

07/08/2021 | 05:52am EDT

HONG KONG, Jul 8, 2021 - (ACN Newswire) - - CIMC Vehicles (Group) Co., Ltd. ("CIMC Vehicles" or the "Group", stock code: 1839.HK/301039.SZ) announces that it has been officially listed on the ChiNext Board of China and achieved "A+H" dual-listing status.

For its listing on the ChiNext Board, CIMC Vehicles issued approximately 253 million shares at an offer price of RMB 6.96 per share. The total funds raised reached RMB 1.758 billion. Funds raised by CIMC Vehicles will continue to be allocated in constructing the "Sophisticated Manufacturing System", including digitalization, research and development project, "Light Tower Plants" upgrade and construction project and new sales & marketing construction project, as well as repayment of bank borrowings and replenishment of working capital.

Revenue reached a record high in 2020; Expected increase of 29.1%-44.1% for the first half of 2021

CIMC Vehicles is the industry leader in semi-trailers. According to the data of global semi-trailer manufacturers by production released by "Global Trailer" in 2020, CIMC Vehicles' semi-trailer business ranked first in the world for eight consecutive years. In addition to the global semi-trailer business, CIMC Vehicles also engages in truck bodies for specialty vehicles as well as refrigerated truck bodies in China.

Through continuous exploration and development, CIMC Vehicles has formed an operation model based on

"Intercontinental Operation, Local Manufacturing" which is in response to the current globalization conditions. Relying on its competitive advantages in China, the company actively develops intercontinental operation and acquired a number of renowned brands to create significant brand advantages across the globe.

In China, the company manages renowned brands such as "Tonghua", "Huajun", "SCVC SAILING", "Ruijiang Vehicles", "Lingyu Vehicles" and "Liangshan Dongyue" etc.; in North America, the company manages renowned brands such as "Vanguard" and "CIE"; and in Europe, the company manages long-established brands, such as "SDC" in the United Kingdom and "LAG" in Belgium.

For client resources, with years of operation and experience, the company has formed cooperation with leading transportation companies and leasing companies in Europe and the United States such as JB Hunt, Schneider, Milestone, TIP and DHL. In the business of truck bodies for specialty vehicles in China, the company has established good partnerships with major domestic heavy truck companies such as SAIC. Hongyan, Shaanxi Automobile and FAW Jiefang.

In the first quarter of 2021, CIMC Vehicles achieved a revenue of RMB6.88 billion, a year-on-year increase of 68.3%; the net profit attributable to the parent company was RMB 203 million, a year-on-year increase of 130.2%. Meanwhile, CIMC Vehicles expects that its revenue will reach RMB14.51 billion to RMB16.20 billion in the first half of 2021, a year-on-year increase of 29.1%-44.1%.

In 2020, the company's revenue has reached a record high. As the company was still able to achieve high growth rates with such a large income base, the growth of CIMC Vehicles thus be seen.

CIMC Vehicles expects that with the widespread vaccination against COVID-19, the global economy will recover gradually. Meanwhile, the domestic market will continue to benefit from the favourable policies of the new national standard of second-generation of semi-trailers, the promotion of the "new infrastructure construction" and the rapid rise in the demand for cold chain logistics. Therefore, there is high hope on the future performance of the company.

Establishing the "Sophisticated Manufacturing System", leading the transformation and upgrading of semi-trailers and specialty-vehicles industries

At present, as the global manufacturing industry enters a new era of transformation and upgrading as well as reconstruction, Chinese manufacturing companies are also accelerating from traditional manufacturing to sophisticated and intelligent manufacturing. According to China's "14th Five-Year Plan" and the 2035 long-term outline, the industry needs to increase from the traditional manufacturing to mid-to-sophisticated manufacturing system and high-technology.

In the era of intellectualization, the transformation and upgrading of traditional manufacturing is a major proposition. For semi-trailer and specialty-vehicles manufacturers, CIMC Vehicles is deeply involved in the vertical field, continuously improving the automation, intelligence, and digitization of manufacturing, and using Internet of Things technology, Mobile Internet technology. Realizing the development of semi-trailer and special-purpose vehicle manufacturing toward intelligent, networked, shared, and energy-saving are the key ways of leading enterprises to maintain their competitiveness in the industry.

As an industry leader and pioneer, CIMC Vehicles has distinct advantages in R&D technology. As of the end of 2020, the company has more than 700 R&D personnel in the worldwide with more than 1,000 registered patents and participated in the formulation and modification of 22 national and industry standards for semi-trailers and special vehicles in China.

Based on forward-looking judgments on the future development, CIMC Vehicles has explored the construction of "Sophisticated Manufacturing System" since 2014. At present, the company has built 13 semi-trailer light tower plants and 6 specialty vehicle installation light tower plants at home and abroad. 2 light tower plants for truck bodies of refrigerated trucks production, and a series of "product modules" for semi-trailer products have been built.

Looking forward, the company will build a sophisticated manufacturing system, upgrade the product module, improve the light tower plants, kick off the sales and market transformation and promoting the organizational development as the four key cornerstones to enhance competitiveness as well as continue to strengthen technological investment, and allow technological innovation Become the source of technological upgrading and lead the industry to new heights.

Sophisticated Manufacturing System is the backbone of the modern industrial system and occupies an important position in the "14th Five-Year Plan". In fact, the process of CIMC Vehicles becoming No. 1 in the world is also a historical epitome of China's strategic transformation from a "manufacturing country of quantity " to a " powerful manufacturing country of quality". In the future, CIMC Vehicles will fully utilize the A-share capital platform to lead the industry to a new horizon.

Copyright 2021 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

All news about CIMC VEHICLES (GROUP) CO., LTD.
10/27CIMC Vehicles' Q3 Profit Slumps 57.6%
10/26CIMC Vehicles Announces Management Changes
10/26CIMC Vehicles Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30..
09/30CIMC Vehicles Co., Ltd. Approves Interim Profit Distribution Plan for 2021
09/30CIMC Vehicles Co., Ltd. Announces Management Changes
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09/23CIMC VEHICLES : Controlling Shareholder Raises Stake to 55.212%
09/10CIMC Vehicles Co., Ltd. Announces 2021 Interim Special Dividend, Payable on 26 November..
09/10CIMC Vehicles Group Co., Ltd. Announces Earnings Results for the Half Year Ended June 3..
08/26CIMC Vehicles Co., Ltd. Proposes Profit Distribution for the First Half of 2021
More news
Sales 2021 29 963 M 4 687 M 4 687 M
Net income 2021 1 013 M 158 M 158 M
Net Debt 2021 - - -
P/E ratio 2021 10,8x
Yield 2021 5,57%
Capitalization 21 575 M 2 774 M 3 375 M
Capi. / Sales 2021 0,72x
Capi. / Sales 2022 0,62x
Nbr of Employees 13 211
Free-Float 6,73%
Duration : Period :
CIMC Vehicles (Group) Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends CIMC VEHICLES (GROUP) CO., LTD.
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Income Statement Evolution
Mean consensus BUY
Number of Analysts 1
Last Close Price 5,39 CNY
Average target price 6,53 CNY
Spread / Average Target 21,1%
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Managers and Directors
Gui Ping Li President, CEO & Executive Director
Hai Feng Ji Chief Financial Officer & Executive Vice President
Bo Liang Mai Chairman
Zhen Huan Liu Chairman-Supervisory Board
Chu Nan Sun Co-Chief Operating Officer & Executive VP
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