CIMC Group’s 2024 Annual General Meeting of Shareholders Successfully Held Yesterday

On May 15, CIMC Group’s 2024 Annual General Meeting of Shareholders was successfully held in its headquarters in Shenzhen. The meeting was presided over by Mai Boliang, Chairman of CIMC Group, and the directors, supervisors and senior management of the Company attended and participated in the meeting respectively.

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At the beginning of the meeting, Mai Boliang, Chairman of CIMC Group, reviewed the operation of the Company in 2024. He pointed out that in the past year, the overall global business environment continued to be intricate and complex, showing a trend of intensifying competition. CIMC adhered to the concept of seeking progress while maintaining stability, upholding integrity and making innovations, and utilized the advantages of its global layout to break the waves in the midst of adversity, and stepped into a new stage of high-quality development.

In 2024, CIMC achieved an annual operating revenue of RMB 177.664 billion, a year-on-year increase of 39.01%, a record high; the net profit attributable to the parent company amounted to RMB 2.972 billion, a significant year-on-year increase of 605.60%. During the period, CIMC consolidated its solid manufacturing foundation, created new advantages in service, focused on more “precise” green transformation planning, more “cutting-edge” core technology research and development, operated capital with ingenuity, and worked hard to create shareholder value.

It is worth mentioning that the shareholders highly affirmed the excellent performance achieved by the board of directors leading the management. At the meeting, the management of CIMC Group fully responded to issues of concern to investors, such as the trend of the container industry, the outlook of the offshore engineering business, and the progress of the energy and chemical and green methanol projects, and conducted in-depth discussions on the development direction and outlook of the Group in 2025.

“From the first quarter of this year, CIMC Group’s overall operation is solid and improving. Core indicators including sales revenue, net profit and gross profit margin have all increased significantly compared with the same period last year.” CIMC Group management said that in the future, compared to the scale of revenue, CIMC will pay more attention to profitability and development quality, and will not blindly pursue turnover, but measure competitiveness by quality to promote a substantial increase in profits.

During the period, the shareholders and their proxies formally considered and approved 15 items, including the work report of the Board of Directors and the annual report for the year 2024, the Proposal on the Election of Directors for the Eleventh Session of the Board of Directors and the Proposal on the Election of Shareholder Representative Supervisors for the Eleventh Session of the Board of Supervisors, through on-site and online voting.

On the same day, CIMC Group held the first meeting of the eleventh session of the Board for the year 2025 to elect the Chairman and Vice Chairman of the Company. The voting results show that the candidate for Executive Director is Mai Boliang (Chairman), the Non-executive Directors include Zhu Zhiqiang and Mei Xianzhi (Vice Chairmen), and other Directors Xu Laping, Zhao Jintao and Zhao Feng, and the Independent Non-executive Directors include Zhang Guanghua, Yang Xiong and Wang Guixun.

In the next step, CIMC Group will continue to closely follow the national strategic orientation, accurately grasp the direction of market development, and under the strategic guidance of “accelerating the construction of new growth drivers and focusing on promoting high-quality development”, focus on comprehensively improving the quality of its manufacturing main business, and accelerate the exploration of breakthroughs in emerging fields. Besides, CIMC Group will achieve stable and sustainable growth in the return on resource investment, continue to optimize the quality of its business asset portfolio, improve resource allocation, continuously consolidate its leading position in the industry, and create more value for shareholders and society.