August 26，As a global leader in high-end manufacturing of semi-trailers and special Vehicles，CIMC Vehicles（301039.SZ/01839.HK）Held a mid-term performance conference in 2022。
CIMC Vehicle 2022 Interim Report，First half of 2022，CIMC Vehicle achieved operating income of 112.CNY 0 billion（Unit：RMB，Same as below），Net profit attributable to shareholders of the parent company 3.700 million yuan；Total assets and net assets attributable to shareholders of listed companies amounted to 223..800 million yuan and 117.700 million yuan，Up 2% from the end of 2021.7%And 0.2%；The overseas market is booming.，Revenue increased significantly by 59% year-on-year.2%，Revenue in North America and Europe increased by 115% respectively.2%And 6.4%，The gross profit margin of global semi-trailer products increased by 0..5 percentage points，Highlighting the advantages of transoceanic operation，The global leading position has been further enhanced.。
Specific to the six major businesses or groups，First half of 2022，Lighthouse Pioneer business maintains solid profitability；North American business actively grasps the growth opportunity of transoceanic operation，Both revenue and profitability have improved significantly.；Strategic Breakthrough in European Business，Achieve quality growth；Qiangguan Business Group breaks through the influence of many unfavorable factors.，The main products maintain the leading position；Urban muck Truck business continued to develop and launch new energy products.；The high-end manufacturing and production base of Terabyte Business Group has been basically completed.，Gradually release production capacity。
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Performance resilience highlights Management quality improvement
First half of 2022，Repeated global epidemics，The economic situation at home and abroad is more complicated.，Uncertainty and urgency are intertwined to become the new normal.。In the context of the overall downturn of China's commercial vehicle market,，CIMC Vehicle actively implements various strategic initiatives，Integrate the company's superior resources，Promote the layout of six major businesses or groups，And take a series of open source and cost control measures.，Gross profit margin increased by 1% year on year.1 percentage point up to 11.2%。
In the meantime，The strong performance of CIMC's overseas business has made up for the quiet domestic special vehicle business to a certain extent.。First half of 2022，The company's operating cash flow improved significantly compared with the second half of 2021.，It fully demonstrates the company's operational resilience.。
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Continuous verification of trans-ocean business strategy Strong performance in overseas operations
Look at it specifically.，Driven by both policy and market factors，Accelerated Integration of China's Logistics and Transportation Industries，China's Semi-trailer Industry Faces Upgrading Iteration，Further transformation to scale manufacturing。Company based“Lighthouse Manufacturing Network”Strategy.，Lighthouse Pioneer Business Accelerates Digital Upgrading，Through production line optimization and regional planning，Give full play to“Lighthouse”Plant Performance，Achieve business breakthroughs。First half of 2022，Lighthouse Pioneer Business Revenue Reaches 2327.1 million yuan，Under the flag“Trailer side”The company successfully completedARound of financing。
North American Business，North American logistics transportation and semi-trailer market shake off the impact of the epidemic，Begin a full recovery，The North American semi-trailer market is in short supply.。CIMC Vehicle relies on the advantages of cross-ocean operation，Actively implement strategic initiatives for North American operations，Through centralized procurement and digital global supply chain management，Control the cost of global logistics distribution，Optimize the layout of local manufacturing，Overcome the global supply chain“A traffic jam”The impact of，Profits hit another record high.。First half of 2022，The North American business performed well.，The volume and price of the three major products have risen simultaneously.，Driving a substantial increase in operating income 151.6%To 4628.RMB9 million，Gross profit margin increased by 4 percent.0 percentage point，Significant improvement in profitability。
It is worth mentioning that，Market demand for refrigerated semi-trailers in North America, one of the three major products, continues to rise.。CIMC vehicle actively grasps market growth opportunities，Freed up refrigerated semi-trailer capacity in North American operations。Utilize the established high-end manufacturing system network，The North American business has formed a flexible、Reliable、Low cost、Close product delivery network，Actively meet product delivery needs of North American customers。First half of 2022，Revenue of refrigerated semi-trailers in North America increased by 189% year-on-year.4%，Gross profit margin increased by 3% year-on-year.0 percentage point。
European business aspect，Under the guidance of transoceanic business strategy，SDCActively improve localization“Lighthouse”Production line of the factory，Completed in the United KingdomSouth HamptonPioneer Manufacturing Plant and UKMansfieldProduction line upgrade and construction of manufacturing plant，Expand product modular design and standardized production，Basically complete the construction of high-end manufacturing system，Greatly improved production efficiency and capacity。First half of 2022，European business strategic plan shows results，Revenue Increases 14.1%To 1272.0 million yuan，Achieve quality growth。
Qiangguan Business Group，China's Infrastructure and Real Estate Investment Growth Slows、Emission standard switching、Early release of market demand、Industry homogenization competition intensifies and other superimposed factors.，Heavy Truck market terminal demand continues to be depressed。Despite the market downturn，But Qiangguan Business Group turns challenges into opportunities.，Continuous improvement“Lighthouse Manufacturing Network”，Give full play to the synergistic advantages of the three major production bases，Continuous deep cultivation of market segments，Extend around the industrial chain、Integrate the resource advantages of upstream and downstream。First half of 2022，Revenue of Qiangguan Business Group Reaches 2142.2 million yuan，Gross profit margin increased by 0..8 percentage points。
Urban muck Truck business，Urban muck truck business actively carries out product optimization and transformation，Deepening the joint development with the main engine factory，Continuous efforts in the field of new energy heavy trucks。First half of 2022，Urban muck truck business revenue of 478.RMB5 million。
Terabyte Business Group，Through the introduction of North American cold compartment technology and European dry compartment technology，Terabyte Business Group continuously digests and absorbs、Innovation and promotion，The lighthouse production line of refrigerated compartment with international advanced level and dry cargo compartment with high automation has been built.，Propulsion“Lighthouse Manufacturing Network”Landing of the system。First half of 2022，Terabyte Business Group Revenue 130.RMB5 million。
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Promote the research and development of new energy products，Assist“Bicarbon”Strategy.
With“Bicarbon”Strategy and promotion of national new energy policy，The penetration rate of new energy commercial vehicles continues to increase.。CIMC Vehicle actively promotes R & D and innovation of new energy products，Promoting high-quality development of road transport equipment industry，Help the country“Bicarbon”Realization of strategic objectives。
Innovation of new energy products，CIMC Vehicle Actively Develops New Energy Lightweight Urban Dregs Truck，The product is made of ultra-high strength wear-resistant steel.，Guarantee the realization of lightweight technology，And match the new energy chassis，In lightweight、Durability、Leading edge in corrosion resistance and load capacity；In the meantime，CIMC Vehicle Launches Pure Electric Mining Card，Advanced product adoption“ERS”Technology.，Realize“Heavy-duty downhill”Energy Recovery，Energy saving rate over 85 percent%，Wiring Control Chassis，Achieve long endurance；In terms of Concrete Mixer Truck，CIMC Vehicle is oriented by market demand，Developed a number of new energy pure electric concrete mixer products including charging and power exchange，With a small capacity battery，Provide rotating power for the mixing tank，Energy saving and emission reduction，Reduce costs；In terms of urban distribution vehicles and refrigerated van vehicles，CIMC Vehicle Co., Ltd. actively cooperates with OEMs to develop new energy Refrigerated Trucks，The weight of the upper chassis of the carriage body is reduced by 1000KGAbove。
In the meantime，The company develops innovative business models in new energy and automatic driving scenarios.，Focus on the rapid development of new energy heavy truck、The development trend of regional automatic driving and special line formation driving creates lightweight.、Long-life semi-trailer solution，Make the customer's choice of products change from price to value orientation，Establish close cooperation with customers，Formed by technology、Business and investment as one of the innovative exploration direction，Take the lead in the development of new energy commercial vehicle market。
One.Deepening the strategic layout of the six major businesses or groups to promote high-quality development
Looking forward to the second half of 2022，China's economic entry“New Normal”，From high-speed growth stage to high-quality development stage。Economic structure from“Incremental capacity expansion”，Steering“Adjusted Stock、Optimize the increment”，The driving force of economic development“Relying on resources and low-cost labor”Steering“Innovation driven”。With the sustained development of the steady growth policy,、Accelerated landing of infrastructure projects、Orderly recovery of supply chain and logistics transportation，Multiple positive factors will support the steady recovery of China's economy，The profits of downstream manufacturing enterprises are expected to improve.。
Facing new opportunities and new challenges，The management of CIMC Vehicle will actively implement various strategic initiatives.，Integrate the company's superior resources，While insisting on optimizing the efficiency of transoceanic operation，Positive layout of local manufacturing，Increase product assembly in the country and location of the market、Deliver、After-sales service and financial service capabilities，Deepen and expand the influence of localized brands，Determined to be rooted in the local market for a long time。The company will also expand its profitability in the whole value chain.，Increase profit opportunities throughout the life cycle，To ensure the steady development of the six major businesses or groups.。
The future，CIMC will continue to build a high-end manufacturing system，Actively deepen the strategic layout of the six major businesses or groups，Through coordination of production and marketing，To further enhance the share of domestic market segments，Make the overseas semi-trailer category in the North American market、European markets and emerging markets gain competitive advantage，Its leading position in the world has been further enhanced.。
In the meantime，CIMC Vehicle will consolidate its main business according to the core initiatives and resources of the six major businesses or groups.，Through high quality products and services、Strong innovation、Strong demand capture rate and brand influence、Networked and intelligent production organization mode and complete industrial system，Accelerating reforms that are conducive to improving the efficiency of resource allocation、Actively implement the standardization strategy and improve it“Development results”Assessment and evaluation system，Explore new paths for high-quality development。
