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

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

China International Marine Containers (Group) Ltd (CIMC) 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 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 optimising strategic planning.

Its tank 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 first globally in market share.

Operating revenue of vehicles business hit a historical high of 26.5 billion yuan in 2020, growing 13.56 percent year-on-year. Net profit stood at 1.27 billion yuan.

It said the market share of LNG trailers, LNG tank containers, LNG storage tanks, industrial gas storage tanks, CNG/LNG refuelling stations, and LNG on-vehicle fuel tanks “was increased in 2020”.

The top three products sold in the segment were (and remain) cryogenic storage tanks, LNG on-vehicle fuel tanks and LNG trailers – the segment posted RMB 13.29 billion in operating revenue and 360 million yuan in net profit.

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6th April 2021