CIMC Vehicles

CIMC Vehicles (Group) Co., Ltd. (Stock Code: 301039.SZ) is a high-end manufacturer of semi-trailers and special-purpose vehicles, a pioneer in the high-quality development of China's road transport equipment, and an explorer and innovator in China's new energy special-purpose vehicle sector. According to the "2023 Global Semi-Trailer OEM Ranking List" published by Global Trailer, the Company is the world's leading semi-trailer manufacturer and has ranked first for eleven consecutive years. The Company has established the "Xinglian Semi-Trailer Business," "North America Business," "Europe and Other Businesses," "Qiangguan Business Group," and "Special-Purpose Vehicle Body Business," conducting production and sales of semi-trailers and special-purpose vehicle bodies in four major global markets, with business coverage spanning over 40 countries and regions and 21 "Lighthouse" factories worldwide. The Xinglian Semi-Trailer Business focuses on the Chinese and "Belt and Road" semi-trailer markets, comprising the specialized production "Xinglian LTP Group," as well as the "CIMC Lighthouse Semi-Trailer Business Group" and "Tonghua Pioneer Semi-Trailer Business Group," which have been comprehensively upgraded in organization, brand, products, and sales channels, operating the "CIMC Lighthouse" and "Tonghua Pioneer" brands, with its China market share ranking first for five consecutive years. The North America Business operates local brands "Vanguard" and "CIE," producing and selling refrigerated semi-trailers, box semi-trailers, and container chassis products, and has gained long-term recognition from mainstream North American customers. The Europe and Other Businesses operate the "SDC" and "LAG" brands. SDC holds a stable first place in the UK market, while LAG, with a history of over 70 years, ranks among the top in the European tank vehicle market. The Qiangguan Business Group produces and sells tank semi-trailers and concrete mixer trucks, operating the "Ruijiang Tanker," "Tonghua Tanker," "Master Tanker," and "Lingyu Automobile" brands, maintaining a leading position in the tank vehicle market. The Special-Purpose Vehicle Body Business produces and sells dump trucks and heavy-duty cargo trucks, being a pioneer in China's special-purpose vehicle body authorized modification business, with an innovative spirit and leading technological research and development capabilities, ranking at the forefront of China's dump truck modification industry. The Company produces and sells innovative products such as new energy lightweight urban dump trucks, pure electric heavy-duty cargo trucks, charging and battery-swapping concrete mixer trucks, and electric concrete mixer semi-trailers. At the same time, the Company is exploring innovative business models in new energy and autonomous driving scenarios, advancing its layout in autonomous driverless trucks and new energy intelligent logistics transportation. The Company is fully implementing the "Xinglian Plan," transforming from separate procurement at each factory to centralized procurement (LTS), from full-category production to specialized "Lighthouse" factory production (LTP), from passive inventory to active inventory management (LTL), and from order-based production to modular product-driven sales and tiered management, thereby achieving precision sales (sales channels). Meanwhile, the Company utilizes high-end manufacturing production lines to achieve comprehensive production automation, intelligence, and process digitalization, improving order fulfillment and delivery, and effectively integrating various businesses or groups in the long term, providing guarantees for promoting high-quality development. Through its first entrepreneurial venture, the Company launched its semi-trailer business and also initiated the regularization, industrialization, and large-scale development of China's semi-trailer industry; through its second entrepreneurial venture, it built a transoceanic operation pattern and global supply chain management for the semi-trailer business, and formed a high-end manufacturing system and new management infrastructure. Currently, the Company is fully advancing its third entrepreneurial venture, marked by the "Xinglian Plan," focusing on the structural reform of semi-trailer production organization, improving the management processes of transoceanic operations, and significantly enhancing the efficiency of transoceanic operations. Looking ahead, while stabilizing the foundation of "transoceanic operations, local manufacturing," the Company will continuously forge new quality productive forces: First, innovating the design and production technology of semi-trailers; Second, promoting the structural reform of production organization in leading semi-trailer enterprises; Third, optimizing the allocation of excess production capacity resources in the industry through internal and external circulation, thereby creating higher production levels, better customer experience, and sustainable profitability, fundamentally escaping low-quality competition in the industry and once again leading the semi-trailer industry into a new development paradigm.