CIMC Achieves Record-High Mid-Year Performance in 2023

September 8, 2023, China, On August 24th,CIMC released its mid-year performance report for 2023, showing that in the first half of 2023, CIMC achieved a revenue of RMB 13.47 billion, an increase of 20.3% year-on-year. The gross profit margin was 19.3%, up 6 percentage points from the end of the previous year, and the net profit margin was 14.05%, up 9.34 percentage points from the end of the previous year. According to the financial report, CIMC's North American business achieved a revenue of RMB 6.233 billion in the first half of 2023, representing a 34.7% year-on-year growth, with the gross profit margin continuing to improve.

According to the financial report, CIMC maintained its leading position in the North American semi-trailer market, with a 25.6% year-on-year increase in revenue from North American refrigerated semi-trailers and a 46% year-on-year increase in revenue from North American box semi-trailers in the first half of 2023.

In the European business sector, CIMC achieved a revenue of RMB 1.63 billion in the first half of 2023, a year-on-year increase of 28.12%, with an increase of 1.81 percentage points in gross profit margin. This was mainly due to the advantages of transoceanic operations, the lighthouse manufacturing network, and the loM (low overheads, high margin) mode of high-end manufacturing. Subsidiaries SDC and LAG both saw a comprehensive improvement in their capabilities for new product development and innovation, as well as seizing market opportunities. Views:3015

China Special Vehicle Adivsor