CIMC generates $25.7 billion in operating revenue, marking the fastest year-over-year growth in nearly 10 years

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Shenzhen, China, April 522, 2022 /PRNewswire/ — China’s leading logistics and energy equipment supplier, China International Marine Containers (Group) Ltd, has released approximately 163.7 billion yuan ($25.7 billion) operating revenue in 2021, a 74% year-over-year growth, marking the first time the company has reached the 100 billion yuan line.

It also represents the fastest growth the company has achieved in nearly 10 years. CIMC’s operating revenue was 94.2 billion yuan in 2020.

Its operating profit increased by 81% on an annual basis to reach 13.47 billion yuan in 2021, beating the historic record.

The company plans to distribute a full-year dividend of 0.69 yuan per share to its shareholders, with a total cash payment of approximately 2.48 billion yuanrepresenting 38.22% of its net profit.

According to the Fortune Global 500 between 2018 and 2021, the minimum operating revenues of companies on the list ranged from $24 billion for $25.3 billionwhich translates to approximately 150 billion yuan for 160 billion yuan. Based on the current exchange rate, this means that CIMC could join the Fortune Global 500 club this year.

Six Major Business Segments — container; vehicles; energy, chemical and food equipment; airports, firefighting and automated logistics equipment; at sea ; logistics — accounted for more than 90% of CIMC’s total operating revenue in 2021. Among them, container manufacturing, the company’s core business, contributed about 40% of the total.

The container business generated operating revenue of 65.97 billion yuan in 2021, up 197.64% from the previous year. Net profit for the business segment soared 469.94% year-on-year to reach 11.33 billion yuan. The significant growth was driven by the dual impact of the COVID-19 pandemic and the shipping industry cycle.

Mai Boliang, chairman and CEO of CIMC, said the global container market is not in a normal situation in 2021 due to external factors. He expects global container demand to contract this year from last year’s size, but still larger than in previous years.

Mai added that the traditional container business is not expected to experience a rapid growth rate. But combined with some emerging strategic businesses that stretch from the traditional business, such as cold chain logistics, Mai said he was fully confident in the growth of the company’s overall container business. in the future.

SOURCE CIMC

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