[Group News] CIMC Vehicle's Financial Report for the First Quarter of 2024 Released: Revenue Reached 5.15 Billion yuan, Accelerating the Forging of New Quality Productivity

April 26，CIMC Vehicles（301039.SZ/01839.HK）Released its first quarter earnings report for 2024.。First quarter，The company achieved operating income of 51..5.3 billion yuan，Net profit attributable to shareholders of the listed company 2.6.5 billion yuan，Realized net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses 2.6.2 billion yuan，The total number of Vehicles sold worldwide is 29483./Table set。

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Build a solid foundation for each business or group，“Star Chain Project”The strategic effect is prominent

First quarter of 2024，In the domestic market，With the smooth start of China's economic operation，Commercial Vehicle market has achieved a good start。At the same time, China's logistics demand is recovering.，The growth rate of total logistics in China is accelerating.。CIMC Vehicle actively explores new productivity of commercial vehicle industry，“Star Chain Project”The strategic effect is prominent，“Sanhao Development Center”Deepen the new marketing concept，The domestic market is revitalized.。In addition，Against the backdrop of inflationary pressures and the expected slowdown in interest rate cuts by the Federal Reserve，Supply and demand of North American semi-trailer market continue to play a game；European Semitrailer Market Under the Influence of Persistent Inflation and Geopolitics，Market demand has slowed down。The company takes advantage of the lighthouse manufacturing network and global supply chain management.，Continuous cost reduction and efficiency enhancement，Enhance the scale effect，The overseas market is in line with the company's expectations.。

Look at it in detail，Star Chain Lighthouse Pioneer Group continues to show its effect with the domestic economic stabilization policy.，Logistics demand accelerates recovery。Full implementation of CIMC vehicles“Star Chain Project”，Promote the operation of order center in an orderly manner，Optimize production planning and production efficiency，Develop sales channels for distributors and key customers，Build a new platform for industrial chain cooperation，Increase the proportion of modular vehicle sales in the domestic market。At the same time，Star Chain Lighthouse Pioneer Group vigorously develops“The Belt and Road”Market，Strengthen overseas order delivery。During the reporting period，Sales volume of Star Chain Lighthouse Pioneer Group increased by 18% year-on-year.9%，Revenue up 12% year on year.3%。Qiangguan Business Group continuously promotes product and technology innovation，In-depth research and development of integrated products of new energy head-mounted trains，Explore new models and new scenario applications，Provide an integrated solution，Continue to lead the development of the global tank car market。During the reporting period，Revenue of Qiangguan Business Group increased by 14% year-on-year.2%。

In addition，North American Business Stabilizes Company's Business Fundamentals，Enhance key customer service experience，Control operational risks，Continuously enhance business resilience；European business actively optimizes manufacturing process and supply chain management，Realize lean management，Gross profit margin increased year on year；The muck Truck and heavy Truck businesses continued to integrate production resources.，Deepening research and development of new energy products，Enhance market competitiveness，Gradual recovery of profitability。

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Accelerate the forging of new quality productivity，Steadfastly promote high-quality development

Enter the second quarter of 2024，CIMC Vehicles will continue to implement“Star Chain Project”，Accelerate the structural reform of semi-trailer production organization，Focus on the construction of business group，Seize a new round of transportation equipment“Trade-in”Policy window period，Achieve breakthrough growth of domestic semi-trailer business。Qiangguan Business Group will continue to push forward“Strong Crown Star Chain Program”，Construction of Lighthouse Manufacturing Network，Jointly promote the construction of a unified national market for tanker business。North American business will continue to promote the transformation and upgrading of governance structure.，Build“New Quality Productivity”A new pattern of development，Enhance development resilience，Achieve solid business performance。European business will consolidate the high-quality development of the business.，And actively look for breakthrough space.。The business of muck Trucks and heavy trucks has gradually got rid of the business downturn.，Steady into the benign operation stage。

New quality productivity is the inherent requirement and focus of promoting high-quality development.。Future，CIMC vehicles will accelerate development“New Quality Productivity”，Forging toughness、Through the cycle，Change thinking with practical action，The exploration is more sophisticated、More resilient、More quality growth mode，Steadfastly promote high-quality development。

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