“In 2017, sales volume, revenue and profits from the group’s container manufacturing business rapidly picked up, as a result of the revitalization of the global container shipping industry, the improvement in operation conditions for shipping enterprises and the recovery in container market demands,” CIMC said in a stock market announcement.
It added that the slump for the container manufacturing business in 2016 had created a low base. However, CIMC’s other businesses such as road transportation also “performed satisfyingly”, benefiting from various positive factors such as the lingering effect of China’s domestic anti-overloading policy.
In addition, the group also got a boost from the relocation compensation of the Shenzhen Prince Bay Project Land and investment gains from the disposal of its equity interest in Shenzhen CIMC Electricity Commerce and Logistics Technology.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
