CIMC 2020 net profit soars 247pc, operating revenue up 9.7pc
CHINA Shenzhen-headquartered China International Marine Containers (Group) Ltd (CIMC) announced that 2020 operating revenue increased 9
07 April 2021 - 19:05
Despite the coronavirus impact, the company - listed both in Shenzhen and in Hong Kong - said net profit attributable to shareholders of the parent company surged 246.88 per cent on a yearly basis to CNY5.35 billion yuan, according to the company's financial results.
CIMC said it managed to retain its leading market position in the industry by adopting a series of risk management measures and optimising strategic planning.
The company's container business generated CNY22.16 billion in operating revenue last year, increasing 9.92 per cent from a year earlier, while net profit reached approximately CNY1.99 billion. The company's standard containers and special containers ranked first globally in market share.
Operating revenue from its vehicle business hit a historical high of CNY26.5 billion in 2020, growing 13.56 per cent year on year. Net profit stood at CNY1.27 billion. Global sales of semi-trailers continued to take the lead in the industry, increasing 11.57 per cent to 131, 327.
Logistics services became CIMC's fourth business unit to hit CNY10 billion in operating revenue, which grew 16.15 per cent year on year to CNY10.64 billion in 2020. Net profit soared 140.57 per cent to CNY266 million. Container throughput reached 15 million TEU annually, continuing to rank the first in the Chinese market. The company also kept its number one position in the country in terminal handling business in 2020, with 5.7 million TEU being handled.
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