On September 22, 1982, China International Marine Containers (Group) Ltd. (CIMC Group) formally put into production.
CIMC was the pioneering project for attracting foreign investment since Chinese government implemented the reform and opening up policies. The CIMC was jointly operated China Merchants' Steam Navigation Company and the Danish East Asiatic Company to produce 20 feet standard container by introducing Danish technology. Foreign capital background of shareholders and initial operation and management by a foreign party provided CIMC with international and market genes.
On September 22, 1982, China International Marine Containers (Group) Ltd. (CIMC Group) formally put into production.
CIMC was the pioneering project for attracting foreign investment since Chinese government implemented the reform and opening up policies. The CIMC was jointly operated China Merchants' Steam Navigation Company and the Danish East Asiatic Company to produce 20 feet standard container by introducing Danish technology. Foreign capital background of shareholders and initial operation and management by a foreign party provided CIMC with international and market genes.
On August 27, 1986, CIMC closed down the container production business and switched to steel structure processing.
The plant was originally operated by East Asiatic Company in early days. Later on, due to the recession of global shipping industry and the company’s internal cultural conflicts, CIMC slid into loss for years since the beginning of operation in 1982, and then it was on the edge of closing down in 1986. Given this, the Board of Directors resolved upon an “internal liquidation” to retain key managerial and technical employees, closed down the container production business and switched to steel structure processing. East Asiatic Company handed over the power of CIMC operation and management to China Merchants.
CIMC got a profound experience and understanding on the market-oriented economy from the distressing experience of walking on the edge of closing down, and the active adaption to the market and valiant struggle following production change hatched CIMC’s “ceaseless self-improvement” culture. This corporate culture becomes a powerful mental strength driving CIMC toward unceasing innovation and development.
On August 27, 1986, CIMC closed down the container production business and switched to steel structure processing.
The plant was originally operated by East Asiatic Company in early days. Later on, due to the recession of global shipping industry and the company’s internal cultural conflicts, CIMC slid into loss for years since the beginning of operation in 1982, and then it was on the edge of closing down in 1986. Given this, the Board of Directors resolved upon an “internal liquidation” to retain key managerial and technical employees, closed down the container production business and switched to steel structure processing. East Asiatic Company handed over the power of CIMC operation and management to China Merchants.
CIMC got a profound experience and understanding on the market-oriented economy from the distressing experience of walking on the edge of closing down, and the active adaption to the market and valiant struggle following production change hatched CIMC’s “ceaseless self-improvement” culture. This corporate culture becomes a powerful mental strength driving CIMC toward unceasing innovation and development.
On July 1, 1987, COSCO became a shareholder of CIMC, making CIMC a three-way joint venture.
After this share participation, COSCO and China Merchants' Steam Navigation Company accounted for 45% of total shares respectively, while East Asiatic Company accounted for 10% of total shares. The participation of COSCO brought valuable market resources for CIMC. At that time, the industry was recovering and CIMC made a re-enter in the container manufacturing industry. On this basis, CIMC improved technologies, fostered talent teams and accumulated experience to gradually develop international market. After the reorganization, CIMC also formed the unique “balance of two forces” corporate governance structure, providing good institutional foundation for sustainable and healthy development of CIMC. This scientific corporate structure with “clearly established ownership, accountability and coexistence of interests” provided basic institutional guarantee for scientific decision-making, effective monitoring mechanism, flexible management mechanism and rational distribution mechanism for CIMC.
On July 1, 1987, COSCO became a shareholder of CIMC, making CIMC a three-way joint venture.
After this share participation, COSCO and China Merchants' Steam Navigation Company accounted for 45% of total shares respectively, while East Asiatic Company accounted for 10% of total shares. The participation of COSCO brought valuable market resources for CIMC. At that time, the industry was recovering and CIMC made a re-enter in the container manufacturing industry. On this basis, CIMC improved technologies, fostered talent teams and accumulated experience to gradually develop international market. After the reorganization, CIMC also formed the unique “balance of two forces” corporate governance structure, providing good institutional foundation for sustainable and healthy development of CIMC. This scientific corporate structure with “clearly established ownership, accountability and coexistence of interests” provided basic institutional guarantee for scientific decision-making, effective monitoring mechanism, flexible management mechanism and rational distribution mechanism for CIMC.
In 1993, Mai Boliang formally was appointed as the general manager of CIMC.
In 1993, Mai Boliang was formally appointed as the general manager of CIMC. Under his leadership, CIMC realized leap-frog development from a small container manufacturer to the largest container production group in the world. The business of CIMC extended to several business fields including land transportation vehicles, energy, chemical and food equipment and offshore. Moreover, CIMC acquired top one position in the world in many fields such as container, vehicle and boarding bridge. CIMC has become a multi-national group with over 100 branches in China and abroad.
In 1993, Mai Boliang formally was appointed as the general manager of CIMC.
In 1993, Mai Boliang was formally appointed as the general manager of CIMC. Under his leadership, CIMC realized leap-frog development from a small container manufacturer to the largest container production group in the world. The business of CIMC extended to several business fields including land transportation vehicles, energy, chemical and food equipment and offshore. Moreover, CIMC acquired top one position in the world in many fields such as container, vehicle and boarding bridge. CIMC has become a multi-national group with over 100 branches in China and abroad.
On February 26, 1993, CIMC acquired 51.18% of total shares of Dalian Container Industrial Co., Ltd.
At the beginning of 1990s, it became increasingly obvious that global container manufacturing center will shift toward China with the rise of "Made in China". The CIMC leadership foresaw this trend and took the lead in developing the strategic policy of "all-round production layout along the coast of China". In 1993, CIMC initiated cross-region merger and acquisition for the first time and acquired 51.18% of total shares of Dalian Container Industrial Co., Ltd., establishing the first production base in Northern China in addition to the production base in Shenzhen. After this, CIMC rapidly constructed a customer-oriented all-round production base in main ports along the coast of China through mergers and acquisitions and self-construction, laying a solid foundation for CIMC to take the leading position in the industry.
Soon after, merger and acquisition also became the main mode of strategic expansion of CIMC.
On February 26, 1993, CIMC acquired 51.18% of total shares of Dalian Container Industrial Co., Ltd.
At the beginning of 1990s, it became increasingly obvious that global container manufacturing center will shift toward China with the rise of "Made in China". The CIMC leadership foresaw this trend and took the lead in developing the strategic policy of "all-round production layout along the coast of China". In 1993, CIMC initiated cross-region merger and acquisition for the first time and acquired 51.18% of total shares of Dalian Container Industrial Co., Ltd., establishing the first production base in Northern China in addition to the production base in Shenzhen. After this, CIMC rapidly constructed a customer-oriented all-round production base in main ports along the coast of China through mergers and acquisitions and self-construction, laying a solid foundation for CIMC to take the leading position in the industry.
Soon after, merger and acquisition also became the main mode of strategic expansion of CIMC.
On March 23 and April 8, 1994, CIMC stocks were listed and traded in Shenzhen Stock Exchange
In June 1992, CIMC started internal demutualisation reorganization. In August 1993, CIMC became a public listed company as approved by People's Government of Shenzhen. In February 1994, CIMC was approved to issue shares and in March and April 1994, CIMC B shares and A shares were listed and traded in Shenzhen Stock Exchange. Over the nineteen years since CIMC went public, CIMC has always stuck to the principle of "using the shareholders’ money to create values for shareholders" and created high returns for investors.
Public listing opened a financing channel of capital market and provided necessary capital foundation for the implementation of strategies of CIMC. Moreover, public listing further optimized the corporate governance structure, improved internal and external supervision mechanism, and promoted standardized company management, laying a good institutional foundation for sustainable development of CIMC.
On March 23 and April 8, 1994, CIMC stocks were listed and traded in Shenzhen Stock Exchange
In June 1992, CIMC started internal demutualisation reorganization. In August 1993, CIMC became a public listed company as approved by People's Government of Shenzhen. In February 1994, CIMC was approved to issue shares and in March and April 1994, CIMC B shares and A shares were listed and traded in Shenzhen Stock Exchange. Over the nineteen years since CIMC went public, CIMC has always stuck to the principle of "using the shareholders’ money to create values for shareholders" and created high returns for investors.
Public listing opened a financing channel of capital market and provided necessary capital foundation for the implementation of strategies of CIMC. Moreover, public listing further optimized the corporate governance structure, improved internal and external supervision mechanism, and promoted standardized company management, laying a good institutional foundation for sustainable development of CIMC.
In October 1995, CIMC started collectivized operation as a group
As approved by the State Administration for Industry and Commerce, CIMC changed its name to "China International Marine Containers (Group) Ltd." and started collectivized operation as a group, completing the transformation of operation mode from single enterprise to group enterprise.
In collective management, the control of critical strategic resource was realized through uniform marketing management, fund management and purchase management. In this way, CIMC gradually formed core competitiveness through the combination of large-scale operation and intensive operation, building new leading competitive advantages over competitors. Meanwhile, the group headquarters played an active and effective role in operation management control, resource integration and internal coordination through continuous exploration.
In October 1995, CIMC started collectivized operation as a group
As approved by the State Administration for Industry and Commerce, CIMC changed its name to "China International Marine Containers (Group) Ltd." and started collectivized operation as a group, completing the transformation of operation mode from single enterprise to group enterprise.
In collective management, the control of critical strategic resource was realized through uniform marketing management, fund management and purchase management. In this way, CIMC gradually formed core competitiveness through the combination of large-scale operation and intensive operation, building new leading competitive advantages over competitors. Meanwhile, the group headquarters played an active and effective role in operation management control, resource integration and internal coordination through continuous exploration.
In 1996, CIMC issued commercial paper in the United States
In 1996, CIMC issued USD 50 million of commercial papers in the United States. This was the first time a Chinese listed company issued commercial paper in the United States, marking that CIMC successfully entered the biggest financial market in the world. In 1996 and 1997, CIMC further issued USD 70 million and USD 57 million worth of commercial papers in the United States, showing that the commercial credit of CIMC won the recognition of the most developed financial market in the world.
In 2000, CIMC and ABN jointly operated the account receivable securitization project with a total amount of USD 80 million. This was the first asset securitization project of a Chinese enterprise. This innovation case of CIMC has become the model for other Chinese enterprises to follow and a typical class case for finance major.
In 1996, CIMC issued commercial paper in the United States
In 1996, CIMC issued USD 50 million of commercial papers in the United States. This was the first time a Chinese listed company issued commercial paper in the United States, marking that CIMC successfully entered the biggest financial market in the world. In 1996 and 1997, CIMC further issued USD 70 million and USD 57 million worth of commercial papers in the United States, showing that the commercial credit of CIMC won the recognition of the most developed financial market in the world.
In 2000, CIMC and ABN jointly operated the account receivable securitization project with a total amount of USD 80 million. This was the first asset securitization project of a Chinese enterprise. This innovation case of CIMC has become the model for other Chinese enterprises to follow and a typical class case for finance major.
On September 29, 1996, Shanghai CIMC Reefer Containers Co., Ltd. put into production
With a total investment of USD 50 million, Shanghai CIMC project introduced the most advanced German cold container manufacturing technology in the world and generated profits in the next year of operation. The operation of Shanghai CIMC showed that the product technology of CIMC was transforming from low technical level to high technical level, and the product variety was changing from simplification to serialization.
Shanghai CIMC reefer container project was a successful practice of technology introduction, digestion, upgrade, domination and output by CIMC, and Qingdao CIMC reefer container production line was the perfect product of this practice. Now, CIMC has mastered all technology systems of reefer containers, and acts as an industry leader in the master of industry trend, domination of industry standards and protection of intellectual property rights.
On September 29, 1996, Shanghai CIMC Reefer Containers Co., Ltd. put into production
With a total investment of USD 50 million, Shanghai CIMC project introduced the most advanced German cold container manufacturing technology in the world and generated profits in the next year of operation. The operation of Shanghai CIMC showed that the product technology of CIMC was transforming from low technical level to high technical level, and the product variety was changing from simplification to serialization.
Shanghai CIMC reefer container project was a successful practice of technology introduction, digestion, upgrade, domination and output by CIMC, and Qingdao CIMC reefer container production line was the perfect product of this practice. Now, CIMC has mastered all technology systems of reefer containers, and acts as an industry leader in the master of industry trend, domination of industry standards and protection of intellectual property rights.
In 1996, Output of dry containers ranked the first place in the world.
In 1996, CIMC produced 199,000 TEUs, and became the largest dry container manufacturer in the world, surpassing HYUNDAI and JINDO for the first time. The market leadership of CIMC proved the initial success of all-round layout and scale operation strategy of CIMC.
For the next nineteen years, CIMC has been the leader in global container industry with increasing market shares and continuously consolidated market position. Moreover, CIMC adheres to the principle of "honesty, accountability and innovation" to lead the industry trade, protect competition order and promote healthy, harmonious and sustainable development of the industry.
In 1996, Output of dry containers ranked the first place in the world.
In 1996, CIMC produced 199,000 TEUs, and became the largest dry container manufacturer in the world, surpassing HYUNDAI and JINDO for the first time. The market leadership of CIMC proved the initial success of all-round layout and scale operation strategy of CIMC.
For the next nineteen years, CIMC has been the leader in global container industry with increasing market shares and continuously consolidated market position. Moreover, CIMC adheres to the principle of "honesty, accountability and innovation" to lead the industry trade, protect competition order and promote healthy, harmonious and sustainable development of the industry.
In December 1999, CIMC and British UBHI signed "strategic cooperation agreement and technology transfer agreement"
In 1999, CIMC introduced the most advanced UBHI tank container production technology and set up a tank container production base in Nantong. The tank container business has further improved the technology level of container products, enriched the mainstream product series and filled in domestic blanks and has become the start point for the CIMC to engage in the establishment of energy chemistry and food equipment business platform.
In December 1999, CIMC and British UBHI signed "strategic cooperation agreement and technology transfer agreement"
In 1999, CIMC introduced the most advanced UBHI tank container production technology and set up a tank container production base in Nantong. The tank container business has further improved the technology level of container products, enriched the mainstream product series and filled in domestic blanks and has become the start point for the CIMC to engage in the establishment of energy chemistry and food equipment business platform.
On December 23, 2000, the Board of Directors took disciplinary actions against relevant responsible persons in the Group based on the opinion from government authorities such as the National Audit Administration, State Administration of Foreign Exchange and China Securities Regulatory Commission on the misconduct of foreign exchange management and securities matters by CIMC, and asked the management to reflect and summarize the causes and lessons learned, and to take practical and effective rectification measures to solve existing problems. This event enhanced the legal awareness and risk awareness inside the Group and promoted the institutionalization and standardization progress of group management.
On December 23, 2000, the Board of Directors took disciplinary actions against relevant responsible persons in the Group based on the opinion from government authorities such as the National Audit Administration, State Administration of Foreign Exchange and China Securities Regulatory Commission on the misconduct of foreign exchange management and securities matters by CIMC, and asked the management to reflect and summarize the causes and lessons learned, and to take practical and effective rectification measures to solve existing problems. This event enhanced the legal awareness and risk awareness inside the Group and promoted the institutionalization and standardization progress of group management.
In May 2001, CIMC defined the corporate mission of “providing equipment and service for modern transportation"
After acquiring the industry leading position in container industry, CIMC further defined the mission of "providing equipment and service for modern transportation" with the help of a world well-known management consultancy firm. This means that from a global view, CIMC will set up and develop business at three levels: the first level is the existing core business - container business; the second level is van semitrailer business which will be gradually adjusted to vehicles business; and the third level is vital businesses in modern transportation equipment and service industry through broader ways.
This is the first time in the history that CIMC defined the business competition field in an all-round, systematic, clear manner from the strategic height, enabling CIMC to have a rational knowledge of the industry on the basis of perceptual knowledge, and become a professional enterprise rather than a dedicated participator in the industry.
In May 2001, CIMC defined the corporate mission of “providing equipment and service for modern transportation"
After acquiring the industry leading position in container industry, CIMC further defined the mission of "providing equipment and service for modern transportation" with the help of a world well-known management consultancy firm. This means that from a global view, CIMC will set up and develop business at three levels: the first level is the existing core business - container business; the second level is van semitrailer business which will be gradually adjusted to vehicles business; and the third level is vital businesses in modern transportation equipment and service industry through broader ways.
This is the first time in the history that CIMC defined the business competition field in an all-round, systematic, clear manner from the strategic height, enabling CIMC to have a rational knowledge of the industry on the basis of perceptual knowledge, and become a professional enterprise rather than a dedicated participator in the industry.
CIMC Technical Center is recognized as a state-level technical center and is officially included in the management system of National Technology Center. Through the establishment and operation of research and development organization system of "centralized management, districted R&D and distributed manufacturing", the Group has built new competitive advantages, which consolidate the leading position of the Group in container industry and provide technical drives for the Group to implement the strategy of "providing equipment and service for modern transportation" and develop second level business.
CIMC Technical Center is recognized as a state-level technical center and is officially included in the management system of National Technology Center. Through the establishment and operation of research and development organization system of "centralized management, districted R&D and distributed manufacturing", the Group has built new competitive advantages, which consolidate the leading position of the Group in container industry and provide technical drives for the Group to implement the strategy of "providing equipment and service for modern transportation" and develop second level business.
On March 10, 2002, President Mai Boliang was invited to CCTV's show "Dialog"
On March 10, during the CPPCC and NPC sessions, President Mai Boliang was invited to the studio of Dialog, a show produced by CCTV, to give a talk on the successful journey of the international operation of CIMC. This show was aired for 7 times on several channels of CCTV and caused tremendous response in the public, raising the public image of CIMC into a higher level.
On March 10, 2002, President Mai Boliang was invited to CCTV's show "Dialog"
On March 10, during the CPPCC and NPC sessions, President Mai Boliang was invited to the studio of Dialog, a show produced by CCTV, to give a talk on the successful journey of the international operation of CIMC. This show was aired for 7 times on several channels of CCTV and caused tremendous response in the public, raising the public image of CIMC into a higher level.
The launch event marks that the Group has started the second level business - land transportation vehicle business for "providing equipment and service for modern transportation".
This shows that CIMC has entered the practical implementation stage of the strategic goal of "introducing the most advanced transportation equipment concept for China and promoting the modernization of domestic transportation equipment. After this, through expansion means such as mergers and acquisitions, investment and construction, CIMC has acquired well-known enterprises in the industry, including Yangzhou Tonghua, Hpa Monon, Ji’nan Kogel, Zhumadian Huajun, Zhangjiagang Sanctum, Luoyang Lingyu, Wuhu Ruijiang and has established over twenty production basis for global mainstream market. In 2006, the production and sales volume of land transportation vehicle of CIMC ranked the first place in the world.
The launch event marks that the Group has started the second level business - land transportation vehicle business for "providing equipment and service for modern transportation".
This shows that CIMC has entered the practical implementation stage of the strategic goal of "introducing the most advanced transportation equipment concept for China and promoting the modernization of domestic transportation equipment. After this, through expansion means such as mergers and acquisitions, investment and construction, CIMC has acquired well-known enterprises in the industry, including Yangzhou Tonghua, Hpa Monon, Ji’nan Kogel, Zhumadian Huajun, Zhangjiagang Sanctum, Luoyang Lingyu, Wuhu Ruijiang and has established over twenty production basis for global mainstream market. In 2006, the production and sales volume of land transportation vehicle of CIMC ranked the first place in the world.
In June 2004, the first innovation conference of CIMC held successfully.
The innovation conference themed "innovation drives value growth" became an important part of the innovation management mechanism of CIMC. With the improvement of innovation mechanisms such as technology innovation management system, 3+1 program, 311 program, innovation conference and best practice, the systematic innovation capability of the Group has been improved significantly, driving overall value growth of the Group.
Management innovation achievements such as performance dashboard, best practice, quality project and cost delicacy management, and industry leading technology innovation achievements such as eucalyptus wood floor product development, tank container production line innovation and new tank container development, technical reconstruction of Shanghai cold container production line, security intelligent container project and Japan inland container development have been nurtured, motivated, inspired and promoted with the innovation management mechanism of the Group.
In June 2004, the first innovation conference of CIMC held successfully.
The innovation conference themed "innovation drives value growth" became an important part of the innovation management mechanism of CIMC. With the improvement of innovation mechanisms such as technology innovation management system, 3+1 program, 311 program, innovation conference and best practice, the systematic innovation capability of the Group has been improved significantly, driving overall value growth of the Group.
Management innovation achievements such as performance dashboard, best practice, quality project and cost delicacy management, and industry leading technology innovation achievements such as eucalyptus wood floor product development, tank container production line innovation and new tank container development, technical reconstruction of Shanghai cold container production line, security intelligent container project and Japan inland container development have been nurtured, motivated, inspired and promoted with the innovation management mechanism of the Group.
In December 28, 2004, Mr. Mai Boliang was awarded as the title of "China Economic Leaders of the Year" by CCTV.
The award words at the award ceremony were as follows: an insightful businessman boarding the great ship of the peaceful rise of China's economy; a responsible housekeeper contributing ten-fold ROI in the enterprise under his leadership. A model for listed companies and a benchmark for "Made in China" enterprises.
This honor is the recognition of the outstanding contribution made to China's economy by CIMC for the last 20 years and is the pride of all CIMC figures.
In December 28, 2004, Mr. Mai Boliang was awarded as the title of "China Economic Leaders of the Year" by CCTV.
The award words at the award ceremony were as follows: an insightful businessman boarding the great ship of the peaceful rise of China's economy; a responsible housekeeper contributing ten-fold ROI in the enterprise under his leadership. A model for listed companies and a benchmark for "Made in China" enterprises.
This honor is the recognition of the outstanding contribution made to China's economy by CIMC for the last 20 years and is the pride of all CIMC figures.
From June to July 2007, CIMC acquired Burg Industries B.V. and Enric Energy Equipment Holdings Limited
On June 28, CIMC indirectly purchased 80% of equity of Burg Industries B.V. and the deal was approved by the governments of China, Germany and the Netherlands. On July 30, CIMC reached the merger agreement with Enric Energy Equipment Holdings Limited.
Merger with Burg Industries enables CIMC to expand the tank business to storage tank business and road tank equipment fields, marking the formation of the business scope of third level business, i.e. the tank storage business. The organic combination of European technology with the manufacturing strength of China will further improve the global competitiveness of CIMC in the tank storage business field.
The successful merger with Burg Industries also enables the initial establishment of the platform "global operation system relying on the manufacturing strength of China", and the structure of a multi-national company for global mainstream market has begun to take shape.
Reconstruction of Enric will enable the existing businesses of CIMC to expand to gas energy equipment field and to have the first listing company under the Group.
From June to July 2007, CIMC acquired Burg Industries B.V. and Enric Energy Equipment Holdings Limited
On June 28, CIMC indirectly purchased 80% of equity of Burg Industries B.V. and the deal was approved by the governments of China, Germany and the Netherlands. On July 30, CIMC reached the merger agreement with Enric Energy Equipment Holdings Limited.
Merger with Burg Industries enables CIMC to expand the tank business to storage tank business and road tank equipment fields, marking the formation of the business scope of third level business, i.e. the tank storage business. The organic combination of European technology with the manufacturing strength of China will further improve the global competitiveness of CIMC in the tank storage business field.
The successful merger with Burg Industries also enables the initial establishment of the platform "global operation system relying on the manufacturing strength of China", and the structure of a multi-national company for global mainstream market has begun to take shape.
Reconstruction of Enric will enable the existing businesses of CIMC to expand to gas energy equipment field and to have the first listing company under the Group.
On January 18, 2008, "CIMC Lean ONE Mode" concept officially proposed at the annual work meeting of the Group.
It takes a world-class management mode to support a world-class group. Against the backdrop of a changing external climate and diversified internal development, CIMC learns from the past success and other strong players' achievements to establish an advanced and CIMC-oriented operation management system. Upon long-term survey and exploratory practice by the Group and some enterprises, "Lean Production" is targeted as the management mode of CIMC and the concept of "CIMC Lean ONE mode" was proposed at the annual work meeting on January 18, 2008.
CIMC ONE (Optimization Never Ending) means relentless and everlasting improvement, adherence to the PDCA management philosophy and the idea of all staff’s participation and consists of a number of management sub-systems, evaluation criteria, ideologies, methodologies and pioneers.
After nearly 4 years exploration from 2008 to 2012, CIMC ONE has taken its basic shape and featured unique glamour. This will reliably facilitate CIMC to fulfill its goal to be a "world-class player".
On January 18, 2008, "CIMC Lean ONE Mode" concept officially proposed at the annual work meeting of the Group.
It takes a world-class management mode to support a world-class group. Against the backdrop of a changing external climate and diversified internal development, CIMC learns from the past success and other strong players' achievements to establish an advanced and CIMC-oriented operation management system. Upon long-term survey and exploratory practice by the Group and some enterprises, "Lean Production" is targeted as the management mode of CIMC and the concept of "CIMC Lean ONE mode" was proposed at the annual work meeting on January 18, 2008.
CIMC ONE (Optimization Never Ending) means relentless and everlasting improvement, adherence to the PDCA management philosophy and the idea of all staff’s participation and consists of a number of management sub-systems, evaluation criteria, ideologies, methodologies and pioneers.
After nearly 4 years exploration from 2008 to 2012, CIMC ONE has taken its basic shape and featured unique glamour. This will reliably facilitate CIMC to fulfill its goal to be a "world-class player".
On March 12, 2008, CIMC purchased Yantai Raffles.
On March 12, CIMC purchased 29.9% of Yantai Raffles through the overseas subsidiary Sharp Vision Holdings Limited and became the largest shareholder of Yantai Raffles.
Raffles is an international leading ship and offshore facilities manufacturer and is mainly engaged in the construction of drilling rigs and supporting ships. The acquisition of Yantai Raffles marks that CIMC has officially entered marine oil and gas development equipment field, i.e. the construction of special ships and offshore facilities. The Group will benefit from the product design, know-how, special skills, production base and special production equipment of Yantai Raffles in offshore field, thus further improving the manufacturing capability and management level. On October 26, 2010, the delivery ceremony of the first deep-water semi-submersible drilling rig COSL PIONEER constructed by CIMC Raffles was held in Yantai. The delivery of COSLPIONEER marked that China has broken the monopoly of Singapore and South Korean enterprises on high-end offshore products.
On March 12, 2008, CIMC purchased Yantai Raffles.
On March 12, CIMC purchased 29.9% of Yantai Raffles through the overseas subsidiary Sharp Vision Holdings Limited and became the largest shareholder of Yantai Raffles.
Raffles is an international leading ship and offshore facilities manufacturer and is mainly engaged in the construction of drilling rigs and supporting ships. The acquisition of Yantai Raffles marks that CIMC has officially entered marine oil and gas development equipment field, i.e. the construction of special ships and offshore facilities. The Group will benefit from the product design, know-how, special skills, production base and special production equipment of Yantai Raffles in offshore field, thus further improving the manufacturing capability and management level. On October 26, 2010, the delivery ceremony of the first deep-water semi-submersible drilling rig COSL PIONEER constructed by CIMC Raffles was held in Yantai. The delivery of COSLPIONEER marked that China has broken the monopoly of Singapore and South Korean enterprises on high-end offshore products.
In 2009, heavy truck project of CIMC Vehicles took a substantive start.
In March 2009, C&C Trucks Co., Ltd. was registered and established with the joint investment of CIMC Vehicle Group, Wuhu Tairui Investment Co., Ltd. and Shenzhen Jiusi Investment Co., Ltd., marking that the CIMC heavy truck project has officially entered the substantive start stage.
The work has been proceeding rapidly since the project is launched. In May 2009, the heavy truck production base commenced construction. In November 2009, the construction of the engine company - Y&C Engine production base jointly established by C&C Trucks Co., Ltd., Guangxi Yuchai and Shenzhen Jiusi Investment Co., Ltd. was commenced.
On October 25, 2010, the first complete cycle vehicle of C&C Trucks was launched. On December 18, C&C Trucks held the launch ceremony. Through more than 3 years of careful preparation, integrating intelligence and efficiency，customizing for users， C&C Truck blew the horn to march towards the market.
In 2009, heavy truck project of CIMC Vehicles took a substantive start.
In March 2009, C&C Trucks Co., Ltd. was registered and established with the joint investment of CIMC Vehicle Group, Wuhu Tairui Investment Co., Ltd. and Shenzhen Jiusi Investment Co., Ltd., marking that the CIMC heavy truck project has officially entered the substantive start stage.
The work has been proceeding rapidly since the project is launched. In May 2009, the heavy truck production base commenced construction. In November 2009, the construction of the engine company - Y&C Engine production base jointly established by C&C Trucks Co., Ltd., Guangxi Yuchai and Shenzhen Jiusi Investment Co., Ltd. was commenced.
On October 25, 2010, the first complete cycle vehicle of C&C Trucks was launched. On December 18, C&C Trucks held the launch ceremony. Through more than 3 years of careful preparation, integrating intelligence and efficiency，customizing for users， C&C Truck blew the horn to march towards the market.
In 2009, CIMC established the leadership standards and leadership development plan.
On August 27, 2009, the Executives Reserve Talent Management Committee was established. The Criteria of CIMC Leadership and CIMC leadership development plan were discussed and passed at the first meeting. Through years of rapid development, CIMC is confronted with a series of challenges such as industry upgrade, business expansion and management mode upgrade. As a result, a large number of leading talents should be nurtured by the Group to realize the goal of becoming a world-class enterprise, so as to drive future business transformation, organization transformation and management transformation of CIMC. For this purpose, the Group launched “Plan A” to foster business unit leaders and “Plans B and C” to cultivate business managers and functional managers, "internal coach plan" for the immediate supervisor for Plans A, B and C. The Plans A, B and C, Sailing plan and new manager training camp were integrated systemically to form an "intermediate leadership development plan" covering management at all levels of the Group.
In 2009, CIMC established the leadership standards and leadership development plan.
On August 27, 2009, the Executives Reserve Talent Management Committee was established. The Criteria of CIMC Leadership and CIMC leadership development plan were discussed and passed at the first meeting. Through years of rapid development, CIMC is confronted with a series of challenges such as industry upgrade, business expansion and management mode upgrade. As a result, a large number of leading talents should be nurtured by the Group to realize the goal of becoming a world-class enterprise, so as to drive future business transformation, organization transformation and management transformation of CIMC. For this purpose, the Group launched “Plan A” to foster business unit leaders and “Plans B and C” to cultivate business managers and functional managers, "internal coach plan" for the immediate supervisor for Plans A, B and C. The Plans A, B and C, Sailing plan and new manager training camp were integrated systemically to form an "intermediate leadership development plan" covering management at all levels of the Group.
In 2009, CIMC re-launched equity incentive plan.
On December 30, 2009, the Group made an announcement to re-launch the equity incentive plan. 187 management and employees including President Mai Boliang obtained equity subscription rights of 60 million CIMC shares, accounting for 2.25% of current total shares of CIMC.
CIMC always adheres to the talent concept of "common cause, common development". Through this key talent equity inventive plan, key talents will grow together with CIMC.
In 2009, CIMC re-launched equity incentive plan.
On December 30, 2009, the Group made an announcement to re-launch the equity incentive plan. 187 management and employees including President Mai Boliang obtained equity subscription rights of 60 million CIMC shares, accounting for 2.25% of current total shares of CIMC.
CIMC always adheres to the talent concept of "common cause, common development". Through this key talent equity inventive plan, key talents will grow together with CIMC.
In 2010, CIMC Finance Co., Ltd. was established.
In 2009, the Group received the "Reply on the Approval of Establishment of Enterprise Group Finance Company by CIMC" issued by China Banking Regulatory Commission. Through a large amount of preparations, in February 2010, CIMC Finance Co., Ltd. received the Finance License and Enterprise Legal Person Business License and began operation.
The establishment of the finance company will effectively promote the specialty of the Group in finance field, lay a solid foundation for the engagement in financial business and the establishment of finance segment by the Group and be an important revenue and profit source for the value growth and shareholder returns of CIMC. Moreover, the finance company will also effectively improve the operation efficiency and effectiveness of group capital and optimized the content of group capital through financial operation, thus improving comprehensive competitiveness of the Group and meeting financial service demands derived from the development strategy and industry upgrade of the Group.
In 2010, CIMC Finance Co., Ltd. was established.
In 2009, the Group received the "Reply on the Approval of Establishment of Enterprise Group Finance Company by CIMC" issued by China Banking Regulatory Commission. Through a large amount of preparations, in February 2010, CIMC Finance Co., Ltd. received the Finance License and Enterprise Legal Person Business License and began operation.
The establishment of the finance company will effectively promote the specialty of the Group in finance field, lay a solid foundation for the engagement in financial business and the establishment of finance segment by the Group and be an important revenue and profit source for the value growth and shareholder returns of CIMC. Moreover, the finance company will also effectively improve the operation efficiency and effectiveness of group capital and optimized the content of group capital through financial operation, thus improving comprehensive competitiveness of the Group and meeting financial service demands derived from the development strategy and industry upgrade of the Group.
On March 4, 2010, CIMC Upgrade Leadership Council Was Founded.
In order to better respond to changes in the external environment and realize the sustainable growth of the Group, on March 4, 2010, the Upgrade Leadership Council was officially founded by the Group. The Upgrade Leadership Committee as the highest deliberative body of the "upgrading" of the Group, is responsible for the planning of the upgrading and the approval and supervision of the implementation plan. The establishment of the Council Marks the group's "upgrading" has been transferred from the early concept development stage to the substantive operational phase.
As the publication of "CIMC Upgrade Program Outline (2010 Version)", the upgrading has fully activated.
On March 4, 2010, CIMC Upgrade Leadership Council Was Founded.
In order to better respond to changes in the external environment and realize the sustainable growth of the Group, on March 4, 2010, the Upgrade Leadership Council was officially founded by the Group. The Upgrade Leadership Committee as the highest deliberative body of the "upgrading" of the Group, is responsible for the planning of the upgrading and the approval and supervision of the implementation plan. The establishment of the Council Marks the group's "upgrading" has been transferred from the early concept development stage to the substantive operational phase.
As the publication of "CIMC Upgrade Program Outline (2010 Version)", the upgrading has fully activated.
In 2010, CIMC has won the 5-year exclusive strategic camp housing supply contract of BHPB Iron Ore Project in Western Australia.
In 2010, Western Australia Company of CIMC won the 5-year exclusive strategic camp housing supply contract of BHPB Iron Ore Project in Western Australia. Under the contract, Western Australia Company of CIMC will provide housing and related public facilities for about 10 thousand people for BHPB Iron Ore Project in Western Australia in 5 years. The contract with an amount of about USD 300 million marks CIMC has formally become the mainstream supplier of the camp housing market.
Since 2003, CIMC has extended its modular and standardized concept, which is represented by the container, to construction field, and started its exploration of modular buildings. With short construction period, low construction material consumption, few construction waste, high safety factor, easy transportation, and recyclable feature, the containers, which are most familiar to human, have become the houses of various type, providing another possibility for the buildings.
In 2010, CIMC has won the 5-year exclusive strategic camp housing supply contract of BHPB Iron Ore Project in Western Australia.
In 2010, Western Australia Company of CIMC won the 5-year exclusive strategic camp housing supply contract of BHPB Iron Ore Project in Western Australia. Under the contract, Western Australia Company of CIMC will provide housing and related public facilities for about 10 thousand people for BHPB Iron Ore Project in Western Australia in 5 years. The contract with an amount of about USD 300 million marks CIMC has formally become the mainstream supplier of the camp housing market.
Since 2003, CIMC has extended its modular and standardized concept, which is represented by the container, to construction field, and started its exploration of modular buildings. With short construction period, low construction material consumption, few construction waste, high safety factor, easy transportation, and recyclable feature, the containers, which are most familiar to human, have become the houses of various type, providing another possibility for the buildings.
In 2011, the world's most advanced container production line "Dreamworks" was established in Southern CIMC.
In 2011, Southern CIMC established the world's most advanced container production line. The production line was the focused wisdom and dreams of 30 thousand CIMC container builders, and thus it was called the "Dreamworks". "Dreamworks" contains the ideal of automation, environmental protection, intelligence, borrows manufacturing technology from the automotive industry, and fully applies the advanced concepts of lean manufacturing and industrial engineering to greatly reduce labor intensity, increase capacity by 50 % with equal area, and reduce power consumption for a single container by 20 %；And more than 95 % of paint thinner is recycled and reused.
The establishment of the "Dreamworks" has completely changed the old image of manual work, great labor intensity and environment pollution of container industry, and changed mode of thinking of the existing container industry. It is a milestone of the industry to the modernization. "Dreamworks" also opened the prelude to the upgrade of traditional industries of CIMC.
In 2011, the world's most advanced container production line "Dreamworks" was established in Southern CIMC.
In 2011, Southern CIMC established the world's most advanced container production line. The production line was the focused wisdom and dreams of 30 thousand CIMC container builders, and thus it was called the "Dreamworks". "Dreamworks" contains the ideal of automation, environmental protection, intelligence, borrows manufacturing technology from the automotive industry, and fully applies the advanced concepts of lean manufacturing and industrial engineering to greatly reduce labor intensity, increase capacity by 50 % with equal area, and reduce power consumption for a single container by 20 %；And more than 95 % of paint thinner is recycled and reused.
The establishment of the "Dreamworks" has completely changed the old image of manual work, great labor intensity and environment pollution of container industry, and changed mode of thinking of the existing container industry. It is a milestone of the industry to the modernization. "Dreamworks" also opened the prelude to the upgrade of traditional industries of CIMC.
In January 2011, CIMC formally issued to establish dry cargo container industry segment and initially established decentralized management organizational structure
In January 2011, CIMC formally issued official documentations to establish the dry cargo container segment, which was later changed to “Containers Segment”. Along with continuous deepening of industrial upgrading, the concept of business segment-based management featured by “decentralized management” and “specialized operation” turned into distinct gradually, and the headquarters structure composed of three major segments including Containers, Road Transportation Vehicles and Energy, Chemical and Food Equipment was substantially established. Meanwhile, the decentralized management mechanism for other segments was also developed gradually.
In January 2011, CIMC formally issued to establish dry cargo container industry segment and initially established decentralized management organizational structure
In January 2011, CIMC formally issued official documentations to establish the dry cargo container segment, which was later changed to “Containers Segment”. Along with continuous deepening of industrial upgrading, the concept of business segment-based management featured by “decentralized management” and “specialized operation” turned into distinct gradually, and the headquarters structure composed of three major segments including Containers, Road Transportation Vehicles and Energy, Chemical and Food Equipment was substantially established. Meanwhile, the decentralized management mechanism for other segments was also developed gradually.
In 2012 CIMC successfully pass the examination as one of the first main board listed companies to implement internal control standards of China Securities Regulatory Commission
On April 6, Conclusion and Awards Ceremony for CIMC Internal Control Standards Pilot was held in the Group headquarters to celebrate CIMC as one of the first main board listed companies required by China Securities Regulatory Commission to implement internal control standards successfully achieve the goal for internal control pilots.
In 2011, CIMC became one of the first main board listed companies to implement internal control standards of China Securities Regulatory Commission. In May, the No. 105 red-head document issued by Shenzhen Securities Regulatory Commission said that Ping An Insurance (Group) Company of China, Ltd., CIMC and other 20 key pilot companies have completed the internal control construction as required.
In 2012 CIMC successfully pass the examination as one of the first main board listed companies to implement internal control standards of China Securities Regulatory Commission
On April 6, Conclusion and Awards Ceremony for CIMC Internal Control Standards Pilot was held in the Group headquarters to celebrate CIMC as one of the first main board listed companies required by China Securities Regulatory Commission to implement internal control standards successfully achieve the goal for internal control pilots.
In 2011, CIMC became one of the first main board listed companies to implement internal control standards of China Securities Regulatory Commission. In May, the No. 105 red-head document issued by Shenzhen Securities Regulatory Commission said that Ping An Insurance (Group) Company of China, Ltd., CIMC and other 20 key pilot companies have completed the internal control construction as required.
In September 2012, CIMC held a series of events for 30th Anniversary celebration.
In September 2012, CIMC held a series of events for 30th Anniversary celebration in Shenzhen, including celebration evening party, Strategy & Leadership Forum, wine party, “All Business Segments Celebrating CIMC’s Birthday” campaign and relevant events organized by all member companies. On the series celebration events, CIMC reacted over the past and dreamed about the future. It introduced the corporate culture of “ceaseless self-improvement, pursuit of excellence” and presented 30 years of achievements made by all CIMC members. On the road leading to a world-class enterprise, let us “grow together and fly together”. In June 2013, CIMC was granted the “National Enterprise Culture Outstanding Achievement Award” for its 30th Anniversary Celebration campaign.
In September 2012, CIMC held a series of events for 30th Anniversary celebration.
In September 2012, CIMC held a series of events for 30th Anniversary celebration in Shenzhen, including celebration evening party, Strategy & Leadership Forum, wine party, “All Business Segments Celebrating CIMC’s Birthday” campaign and relevant events organized by all member companies. On the series celebration events, CIMC reacted over the past and dreamed about the future. It introduced the corporate culture of “ceaseless self-improvement, pursuit of excellence” and presented 30 years of achievements made by all CIMC members. On the road leading to a world-class enterprise, let us “grow together and fly together”. In June 2013, CIMC was granted the “National Enterprise Culture Outstanding Achievement Award” for its 30th Anniversary Celebration campaign.
On December 19, 2012, CIMC’s H shares were listed on Shenzhen Stock Exchange.
CIMC (stock code: 2039.HK) began trading on the Main Board of the Stock Exchange of Hong Kong Limited on December 19, becoming the first enterprise to be listed in SEHK by way of conversion from domestically listed foreign shares (B shares) to overseas listed foreign shares (H shares).
The listing of CIMC in Hong Kong can provide more liquidity for shareholders and increase opportunities for realizing the true value of their investment. It will also enable us to promote CIMC’s international presence and help develop our global operations in order to accelerate the Group’s internationalization process. At the same time, this will also expand our investor base to generate more returns for our shareholders and offer both domestic and foreign investors an opportunity for sharing the benefits of the rapid growth we have achieved with our diversified businesses.
On December 19, 2012, CIMC’s H shares were listed on Shenzhen Stock Exchange.
CIMC (stock code: 2039.HK) began trading on the Main Board of the Stock Exchange of Hong Kong Limited on December 19, becoming the first enterprise to be listed in SEHK by way of conversion from domestically listed foreign shares (B shares) to overseas listed foreign shares (H shares).
The listing of CIMC in Hong Kong can provide more liquidity for shareholders and increase opportunities for realizing the true value of their investment. It will also enable us to promote CIMC’s international presence and help develop our global operations in order to accelerate the Group’s internationalization process. At the same time, this will also expand our investor base to generate more returns for our shareholders and offer both domestic and foreign investors an opportunity for sharing the benefits of the rapid growth we have achieved with our diversified businesses.
On September 22, 2012, CIMC and CMA CGM entered into charter arrangements for ten 9,200TEU container ships.
On September 22 when CIMC held its 30th Anniversary Celebration, CIMC Financing Leasing Co., Ltd. and CMA-CGM entered into charter agreements for ten 9,200TEU container ships with a term of 12 years. Meanwhile, it signed shipbuilding contracts with Dalian Shipbuilding Industry Co., Ltd. and other companies. In August 2013, CIMC executed a charter agreement of fourteen 8,800TEU container ships with Mediterranean Shipping Company, which is a successful reproduction of the above business model. The total investment in these two projects reaches over USD 2 billion. It is the first time world-class shipping companies order container ships in large volumes from a Chinese shipbuilding company, and also a milestone of CIMC’s “manufacture + service + finance” diversification strategy. Execution of that contract marked CIMC’s another successful case of resources integration. It renders high value-added financial and R&D services to integrate container ship financing, design and construction resources, and owns complete and independent intellectual property, thereby creating practical modes for CIMC's industrial linkage, industrial value chain high-end extension and business mode innovation. In general, it has profound implications for CIMC’s strategic layout and industrial upgrading.
On September 22, 2012, CIMC and CMA CGM entered into charter arrangements for ten 9,200TEU container ships.
On September 22 when CIMC held its 30th Anniversary Celebration, CIMC Financing Leasing Co., Ltd. and CMA-CGM entered into charter agreements for ten 9,200TEU container ships with a term of 12 years. Meanwhile, it signed shipbuilding contracts with Dalian Shipbuilding Industry Co., Ltd. and other companies. In August 2013, CIMC executed a charter agreement of fourteen 8,800TEU container ships with Mediterranean Shipping Company, which is a successful reproduction of the above business model. The total investment in these two projects reaches over USD 2 billion. It is the first time world-class shipping companies order container ships in large volumes from a Chinese shipbuilding company, and also a milestone of CIMC’s “manufacture + service + finance” diversification strategy. Execution of that contract marked CIMC’s another successful case of resources integration. It renders high value-added financial and R&D services to integrate container ship financing, design and construction resources, and owns complete and independent intellectual property, thereby creating practical modes for CIMC's industrial linkage, industrial value chain high-end extension and business mode innovation. In general, it has profound implications for CIMC’s strategic layout and industrial upgrading.
In 2014, CIMC won the “Shenzhen Mayor Quality Award”.
The Shenzhen Quality Conference was held on December 31, at which CIMC won the “Mayor Quality Award in Shenzhen City 2014”. The award is the highest honor given by Shenzhen Municipal Government. It takes the best of excellent performance mode of the Malcolm Baldrige National Quality Award to perform an all-round evaluation on candidate enterprises. And it is a review of the achievements made by CIMC following years of transformation & upgrading, lean management and internal control.
In 2014, CIMC won the “Shenzhen Mayor Quality Award”.
The Shenzhen Quality Conference was held on December 31, at which CIMC won the “Mayor Quality Award in Shenzhen City 2014”. The award is the highest honor given by Shenzhen Municipal Government. It takes the best of excellent performance mode of the Malcolm Baldrige National Quality Award to perform an all-round evaluation on candidate enterprises. And it is a review of the achievements made by CIMC following years of transformation & upgrading, lean management and internal control.
On December 19, 2012, CIMC’s H shares were listed on Shenzhen Stock Exchange.
CIMC (stock code: 2039.HK) began trading on the Main Board of the Stock Exchange of Hong Kong Limited on December 19, becoming the first enterprise to be listed in SEHK by way of conversion from domestically listed foreign shares (B shares) to overseas listed foreign shares (H shares).
The listing of CIMC in Hong Kong can provide more liquidity for shareholders and increase opportunities for realizing the true value of their investment. It will also enable us to promote CIMC’s international presence and help develop our global operations in order to accelerate the Group’s internationalization process. At the same time, this will also expand our investor base to generate more returns for our shareholders and offer both domestic and foreign investors an opportunity for sharing the benefits of the rapid growth we have achieved with our diversified businesses.
On December 19, 2012, CIMC’s H shares were listed on Shenzhen Stock Exchange.
CIMC (stock code: 2039.HK) began trading on the Main Board of the Stock Exchange of Hong Kong Limited on December 19, becoming the first enterprise to be listed in SEHK by way of conversion from domestically listed foreign shares (B shares) to overseas listed foreign shares (H shares).
The listing of CIMC in Hong Kong can provide more liquidity for shareholders and increase opportunities for realizing the true value of their investment. It will also enable us to promote CIMC’s international presence and help develop our global operations in order to accelerate the Group’s internationalization process. At the same time, this will also expand our investor base to generate more returns for our shareholders and offer both domestic and foreign investors an opportunity for sharing the benefits of the rapid growth we have achieved with our diversified businesses.
On November 19, 2014, the COSL Prospector Drilling Rig built by CIMC was delivered successfully.
The COSL Prospector Drilling Rig built by CIMC Raffles was delivered to our customer in Yantai, Shandong on November 19, 2014. The drilling rig is the fourth deep water semi-submersible drilling rig of COSL series designed and built by CIMC Offshore Segment for COSL in batches. It employs domestic state-of-the-art construction technology and process.
On November 19, 2014, the COSL Prospector Drilling Rig built by CIMC was delivered successfully.
The COSL Prospector Drilling Rig built by CIMC Raffles was delivered to our customer in Yantai, Shandong on November 19, 2014. The drilling rig is the fourth deep water semi-submersible drilling rig of COSL series designed and built by CIMC Offshore Segment for COSL in batches. It employs domestic state-of-the-art construction technology and process.
In 2015, CIMC won the anti-dumping & anti-subsidy investigation case of 53' North America containers.
On May 19, the United States International Trade Commission made a final ruling that the 53' dry containers exported from China to the USA haven’t caused any material damages to the American domestic industry and so it appealed the ruling made by US Department of Commerce in last December upon levy of anti-dumping and anti-subsidy tariff. It is one of the few successful cases for Chinese companies dealing with US trade frictions.
The 53' containers produced by CIMC take up 80%-90% market shares in North America. After over one year of struggling, CIMC won the lawsuit and directly avoided more than USD 100 million losses in the Group’s market shares and enhanced its power in handling international trade disputes.
In 2015, CIMC won the anti-dumping & anti-subsidy investigation case of 53' North America containers.
On May 19, the United States International Trade Commission made a final ruling that the 53' dry containers exported from China to the USA haven’t caused any material damages to the American domestic industry and so it appealed the ruling made by US Department of Commerce in last December upon levy of anti-dumping and anti-subsidy tariff. It is one of the few successful cases for Chinese companies dealing with US trade frictions.
The 53' containers produced by CIMC take up 80%-90% market shares in North America. After over one year of struggling, CIMC won the lawsuit and directly avoided more than USD 100 million losses in the Group’s market shares and enhanced its power in handling international trade disputes.
In August 2015, CIMC Enric acquired SOE.
On August 27, 2015, CIMC Enric entered into an official equity transfer agreement with three shareholders of SOE (Evergreen Holding Group, Sinopacific and SOEG PTE.LTD). CIMC Enric will acquire 63.31% equities as the first step. It is CIMC Enric’s another remarkable move of strategic capital operation in the domestic energy & equipment field following its acquisition of Nanjing Yangzi Petrochemical Design & Engineering Company Ltd., Sichuan Jinke Cryogenic Engineering Co., Ltd. and Liaoning Hashenleng Gas Liquefaction Plant Co., Ltd. in 2012. The acquisition will help CIMC Enric rapidly building the sea-land integrated capacity in LNG equipment manufacturing and engineering services, and thus to improve its overall competitive edge. It has a profound and strategic significance for CIMC Enric’s future development.
In August 2015, CIMC Enric acquired SOE.
On August 27, 2015, CIMC Enric entered into an official equity transfer agreement with three shareholders of SOE (Evergreen Holding Group, Sinopacific and SOEG PTE.LTD). CIMC Enric will acquire 63.31% equities as the first step. It is CIMC Enric’s another remarkable move of strategic capital operation in the domestic energy & equipment field following its acquisition of Nanjing Yangzi Petrochemical Design & Engineering Company Ltd., Sichuan Jinke Cryogenic Engineering Co., Ltd. and Liaoning Hashenleng Gas Liquefaction Plant Co., Ltd. in 2012. The acquisition will help CIMC Enric rapidly building the sea-land integrated capacity in LNG equipment manufacturing and engineering services, and thus to improve its overall competitive edge. It has a profound and strategic significance for CIMC Enric’s future development.
CIMC “Bluewhale 1” Completed China’s First Pilot Production of Submarine Combustible Ice on May 18, 2017
“Bluewhale 1”, the world’s leading ultra-deepwater semi-submersible drilling platform with two rigs designed and built by CIMC Raffles, completed China’s first pilot production of submarine combustible ice on May 18, 2017, catching global attention as the state-of-the-art drilling facility of China.During the pilot production, “Bluewhale 1” made many breakthroughs including the maximum gas production time, maximum gas output, stable gas flow and environmental safety, outperformed predetermined pilot production objectives and broke world records of the maximum gas production time and gas output.
CIMC “Bluewhale 1” Completed China’s First Pilot Production of Submarine Combustible Ice on May 18, 2017
“Bluewhale 1”, the world’s leading ultra-deepwater semi-submersible drilling platform with two rigs designed and built by CIMC Raffles, completed China’s first pilot production of submarine combustible ice on May 18, 2017, catching global attention as the state-of-the-art drilling facility of China.During the pilot production, “Bluewhale 1” made many breakthroughs including the maximum gas production time, maximum gas output, stable gas flow and environmental safety, outperformed predetermined pilot production objectives and broke world records of the maximum gas production time and gas output.
CIMC Tianda Listed on HKEX on May 18, 2018
On May 18, 2018, “CIMC Tianda”, formerly known as “CFE” officially listed on Hong Kong Stock Exchange. CIMC not only provides a more independent capital operation platform for airport business, but also takes a controlling stake in CFE after this reorganization. As a result, CIMC will have a more complete fire engine production line to meet middle and high-end product demands in China’s fire safety market and have an opportunity to enter the broader global market.
CIMC Tianda Listed on HKEX on May 18, 2018
On May 18, 2018, “CIMC Tianda”, formerly known as “CFE” officially listed on Hong Kong Stock Exchange. CIMC not only provides a more independent capital operation platform for airport business, but also takes a controlling stake in CFE after this reorganization. As a result, CIMC will have a more complete fire engine production line to meet middle and high-end product demands in China’s fire safety market and have an opportunity to enter the broader global market.
General Secretary Xi Visited CIMC Raffles on June 13, 2018
On the afternoon of June 13, General Secretary Xi Jinping visited Yantai Base of CIMC Raffles. After learning that “Bluewhale 1” broke two world records of maximum production time and output of combustible ice, he encouraged employees of CIMC Raffles to keep striving. “Fundamental and core technologies cannot be obtained by fawning or purchased by force. We can only rely on ourselves to create and innovate. I believe you have faith and hope you can face the difficulty and try harder”, he said.
General Secretary Xi Visited CIMC Raffles on June 13, 2018
On the afternoon of June 13, General Secretary Xi Jinping visited Yantai Base of CIMC Raffles. After learning that “Bluewhale 1” broke two world records of maximum production time and output of combustible ice, he encouraged employees of CIMC Raffles to keep striving. “Fundamental and core technologies cannot be obtained by fawning or purchased by force. We can only rely on ourselves to create and innovate. I believe you have faith and hope you can face the difficulty and try harder”, he said.
CIMC Vehicles Listed on HKEX on July 11, 2019
On July 11, 2019, CIMC Vehicles listed on Hong Kong Stock Exchange. After listing, CIMC Vehicles will boost development of CIMC’s vehicle business, expand its financing, improve its international management level and increase the premium of this independent brand. In addition, CIMC Vehicles becomes the fourth independently listed platform of CIMC after CIMC (A+H shares), CIMC ENRIC (H share), and CIMC Tianda (H share).
CIMC Vehicles Listed on HKEX on July 11, 2019
On July 11, 2019, CIMC Vehicles listed on Hong Kong Stock Exchange. After listing, CIMC Vehicles will boost development of CIMC’s vehicle business, expand its financing, improve its international management level and increase the premium of this independent brand. In addition, CIMC Vehicles becomes the fourth independently listed platform of CIMC after CIMC (A+H shares), CIMC ENRIC (H share), and CIMC Tianda (H share).
SZ Capital Becomes Largest Shareholder of CIMC on October 12, 2020
On October 12, the signing ceremony of equity transfer to Shenzhen Capital Holdings Co., Ltd. was held in Shenzhen Investment Building. After all the approval procedures are completed, SZ Capital and its designated wholly-owned subsidiary will acquire in part or in whole the equities of CIMC held by and transferred from four shareholders, including COSCO Container Industries Limited. This deal is a great change to equity structure of CIMC and has profound influence on its development in the future.
SZ Capital Becomes Largest Shareholder of CIMC on October 12, 2020
On October 12, the signing ceremony of equity transfer to Shenzhen Capital Holdings Co., Ltd. was held in Shenzhen Investment Building. After all the approval procedures are completed, SZ Capital and its designated wholly-owned subsidiary will acquire in part or in whole the equities of CIMC held by and transferred from four shareholders, including COSCO Container Industries Limited. This deal is a great change to equity structure of CIMC and has profound influence on its development in the future.