- Kicking off the first round of autumn trade fairs, two watch fairs on 3-7 September will bring in 700+ global exhibitors- Themed “Be on Time”, fairs will showcase different styles of wristwatches, parts, accessories, machinery and equipment- Visitors can gain updates on the latest market information and trends through forums, seminars, watch parades and networking events- Salon de TIME will be fully open to the public for the first time to create a globally renowned annual event for the industryHONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Organised by the Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades and Industries Ltd, the HKTDC Hong Kong Watch & Clock Fair and Salon de TIME will welcome more than 700 global exhibitors.Themed “Be on Time”, the fairs will feature different styles of wristwatches, parts, accessories, machinery and equipment to provide a one-stop sourcing platform. Under the hybrid EXHIBITION+ model, the physical fairs will run from 3 to 7 September at the Hong Kong Convention and Exhibition Centre (HKCEC), while exhibitors and buyers can meet online through the Click2Match smart business matching platform between 27 August to 14 September.For the first time, Salon de TIME will be fully open to the public for free admission. Sophia Chong, HKTDC Acting Executive Director, said: “This year, the Hong Kong Watch & Clock Fair and Salon de TIME will welcome more than 700 global exhibitors from 15 countries and regions, with new exhibitors from Belgium and Denmark as well as new brands from Greece, Türkiye and the United Kingdom. The two fairs will feature pavilions from Guangdong, Guangzhou, Taiwan as well as South Korea, which is returning after the pandemic, creating globally renowned annual fairs and business opportunities for the industry.”“To explore more new business opportunities, the HKTDC will bring about 80 buying missions from more than 50 countries and regions, including Finland, Germany, Norway, Poland, Russia, Spain, Switzerland, the United Kingdom in Europe; Brazil, Canada and the United States in the Americas; Japan, Singapore, South Korea, Thailand and Vietnam in Asia; and Israel and the United Arab Emirates in the Middle East,” she added.Salon de TIME presents famous global watch brandsSalon de TIME will host more than 130 internationally renowned watch brands and designer collections across five thematic zones: World Brand Piazza, Chic & Trendy, Craft Treasure, Renaissance Moment and Wearable Tech. Some exhibitors will also include retail offerings, allowing them to purchase watches on-site.Numerous styles of watches and accessories to cater to market trends and needsWith sustainability gaining traction in recent years, exhibitors at the two fairs have added a Green Solutions Suppliers label on their products to facilitate sourcing for buyers.Over 20 exhibitors will showcase sustainable watches, including:- German brand Lilienthal Berlin which has launched the world's first watch with a case made of recycled coffee grounds that won the New York Product Design Award, Green Product Award and iF Design Award; - Hong Kong exhibitor Gordon C. & Company Limited, which uses sustainable and biodegradable materials to manufacture watch cases and straps.Wearable tech with smart monitoring technologyThe Paris Olympics has prompted more interest in sport, fitness and wearable tech, providing opportunities for innovative watchmakers. This year’s Wearable Tech zone, led by the Federation of Hong Kong Watch Trades and Industries Ltd and more than 10 companies, will feature a complete industry supply chain, while showcasing software, accessories and the latest technology. Companies taking part include German brand Oskron, which has developed Link2Care, a new wireless monitoring solution for health data, and United Wealth Holdings Limited, which has developed a smart watch incorporating smart movement from Huawei that can also monitor health data.World Brand Piazza – luxury showcase of 10 international watch brandsWorld Brand Piazza, sponsored by Prince Jewellery & Watch for the 14th consecutive year, will present some exceptional luxury watches from 10 international brands: Baume & Mercier, Bovet, Corum, CVSTOS, DeWitt, Franck Muller, Kerbedanz, Montblanc, Parmigiani Fleurier and Sarcar.Watches include Golden Bridge Dragon from Swiss brand Corum. This wristwatch features an 18-carat gold dragon at its core, while the dragon’s eyes, tail and watch body are inlaid with diamonds, pearls and gemstones, respectively. The watch’s 18K gold rectangular movement is composed of more than 190 parts, reflecting its craftsmanship and HK$2.153 million price tag.The showcase also features Swiss brand Bovet’s 7-day Skeleton Tourbillon. The hands on the back side of the dial are reverse-fitted, so they can turn clockwise, using Bovet's proprietary and patented system. This watch is priced at HK$2.136 million.The two fairs will also feature watches and accessories with a range of styles and personalities that can match different market needs:- International Luxury Group returns with 15 international brands, such as Kenneth Cole, Police and Timberland. Among them, the American brand Kenneth Cole launched an automatic movement watch, which uses exquisite screws to embellish the internal structure of the dial and is equipped with a stainless-steel strap. - Hong Kong watchmaking brand ANPASSA features a wristwatch that can be combined with AR technology to present a unique Kowloon Walled City look. - Swiss brand ROMAGO is collaborating with Pokémon to launch a limited edition set of 250 watches. - A limited-edition tourbillon from Hong Kong’s Memorigin uses rare meteorites and a newly developed ultra-thin pearl tourbillon automatic movement to create its Explorer series watch, with a 39mm diameter and a thickness of just 9.9mm.- Swiss classic brand Solvil et Titus presents its Barista Collection of watches with exquisite design and retro style. The barrel-shaped watch body is equipped with an arched glass surface, reflecting the brand's belief that strong emotions brew over time. - Present, a watch and jewellery brand with oriental characteristics, is committed to bringing traditional craftsmanship and culture into the present, with its On the Love of Lotus concept.Unique craftsmanship from European watchmakersSwiss Independent Watchmaking Pavilion (SIWP) and Francéclat are returning this year, presenting 17 international brands. These include:- Pilo & Co Genève, founded by independent Swiss watchmaker Amarildo Pilo. The company has launched Corleone Evoluzione Superleggera, a unique piece with a domed and bevelled sapphire crystal, an ultra-light alloy, a meteorite dial and automatic chronograph movement. - French brand Montignac will present its Marina Capsule series of diving watches, which are made in France and water-resistant to a depth of 200m. The watch body is equipped with a unidirectional bezel and luminous coating, which can track diving time and depth.Nine major zones for buyersThe Watch & Clock Fair is made up of nine zones. The Pageant of Eternity zone showcases high-end OEM and ODM watches, while other zones cover complete watches, pre-owned watches, clocks, machinery and equipment, OEM smart watches, packaging & display, parts and components and trade services.Forums and seminars explore industry trendsVisitors can also gain first-hand market information and updates on the latest industry trends through forums, seminars, watch parades and networking events.At the Hong Kong International Watch Forum on 3 September, global watch association representatives will provide an overview of global trade and industry trends with their insights and visions on reshaping the global watch industry towards sustainability.At the Asian Watch Conference on 4 September, global market research agency Euromonitor International (Hong Kong) will analyse the latest market developments around this year’s theme, “The Infinite Possibilities with Watches”. Mr Frank Chen, Sales Director of Module of Huawei Device BG, and Mr Pierre Burgun, CEO of Pierre Lannier, will discuss the prospects of health monitoring and innovative practices for wearable tech as well as the latest trends for stylish wristwatches.On 5 September, Dr James Chung-Wai Cheung, Research Assistant Professor and Member of Research Institute for Smart Ageing of The Hong Kong Polytechnic University, and Mr Michael Ertl, CEO and Founder of ME & Friends AG, and Mr Paul Anthony Yuen, Secretary General of The Federation of Hong Kong Watch Trades & Industries Ltd., will explore how age-forward technology can empower the ageing population to maintain independence and embrace a more connected, active lifestyle.In addition, the HKTDC, The Federation of Hong Kong Watch Trades & Industries Ltd and the Hong Kong Watch Manufacturers Association Ltd are jointly organising the 41st HK Watch & Clock Design Competition to cultivate a new generation of watch designers and technicians and to promote innovation and continued development in watch design.The competition has two categories – Go Beyond Innovation for the Open Group and Talent Moment for the Student Group. The Made-to-Sell Award is also newly added to recognise student entries with market potential. Artist Benjamin Yuen has been invited as a guest judge this year.Award-winning works and finalists will be exhibited during the fairs, while the award ceremony will be held on 7 September at The Dial in Hall 3FG of Salon de TIME.A variety of events, lucky draws and workshop for the publicAt Salon de TIME, Mr Carlos Koo, Founder of CK Engraving and Metal Engraving Artist, will demonstrate the art of watch engraving. Watch influencers Billy Chan and Ko Sir will reveal their views into generational mindsets and offer insights on investing in luxury timepieces respectively.Mr Gary Ching, Founder of ANPASSA, will host a workshop titled “Watchmaking 101 Craft Your Own Timepiece”. A series of product launches and watch parades will be featured with celebrities, including table tennis players Doo Hoi-kem and Wong Chun-ting who just represented Hong Kong in the Paris Olympics, Hong Kong singer Aka Chio, YouTuber Jeffrey Fok and more.Visitors can also participate in lucky draws and join Smart Bidding to bid on their desired watches starting at a 90% discount off the retail price.In addition, Asia’s premier fashion event CENTRESTAGE will be held from 4 to 7 September at the HKCEC, showcasing designer brands from around the world. Visitors can view the latest products from more than 380 watch and fashion brands at the same venue.Export performance, Hong Kong watches and clocks:Q2, 2024Q1, 2024Change per quarter41.334.3+7Retail sales, Hong Kong watches and clocks*:20232022Change per yearHK$32.5 billionHK$25.6 billion+27%*Data from EuromonitorPhoto download: https://bit.ly/3MoUWCZThe HKTDC Hong Kong Watch & Clock Fair and Salon de TIME take place on 3-7 September at the Hong Kong Convention and Exhibition Centre. Introducing fair highlights at a press conference are Sophia Chong, HKTDC Acting Executive Director (4th from left), Eric Lai (3rd from left) and Edmond Ng (4th from right), Co-Chairmen, HKTDC Hong Kong Watch & Clock Fair Organising Committee 2024. Hong Kong exhibitor Gordon C. & Company Limited uses sustainable and biodegradable materials to manufacture watch cases and straps. German brand Oskron has developed Link2Care, a new wireless monitoring solution for health data. Sponsored by Prince Jewellery & Watch for the 14th consecutive year, World Brand Piazza presents rare watches from 10 international brands, including Corum’s Golden Bridge Dragon and BOVET’s 7-day Skeleton Tourbillon.Swiss classic brand Solvil et Titus presents its Barista Collection of watches with exquisite design and retro style. The barrel-shaped watch body is equipped with an arched glass surface, reflecting the brand's belief that strong emotions brew over time.Hong Kong watchmaking brand ANPASSA features a wristwatch that can be combined with AR technology to present a unique Kowloon Walled City look.Swiss brand ROMAGO collaborates with Pokémon to launch a limited edition set of 250 watches.Pilo & Co Genève, founded by independent Swiss watchmaker Amarildo Pilo, has launched Corleone Evoluzione Superleggera, a unique piece with a domed and bevelled sapphire crystal, an ultra-light alloy, a meteorite dial and automatic chronograph movement. The 41st HK Watch & Clock Design Competition has two categories – Go Beyond Innovation for the Open Group and Talent Moment for the Student Group. Award-winning works and finalists will be exhibited during the fairs.Dancers at the press conference showcase 27 selected timepieces. Websites:Hong Kong Watch & Clock Fair: https://www.hktdc.com/event/hkwatchfair/enSalon de TIME: https://www.hktdc.com/event/te/enMedia enquiriesPlease contact the HKTDC’s Communications & Public Affairs Department: Johnny TsuiTel: (852) 2584 4395Email : johnny.cy.tsui@hktdc.orgBubble MaTel: (852) 2584 4369Email : bubble.ma@hktdc.orgAbout HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Copyright 2024 ACN Newswire via SeaPRwire.com.

HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - Reitar Logtech Holdings Limited ("Reitar Logtech") (NASDAQ: RITR) has officially listed on the Nasdaq stock market on August 23, 2024. This marks an important milestone in the company's internationalization, also signifies Reitar Logtech's commitment to driving the formation of smart logistics ecosystem, injecting new momentum into the industry.Founded in 2015, Reitar Logtech provides end-to-end logistics solutions by integrating real estate, logistics operations, and innovative technologies through two main segments:1. Asset management and consulting services - They source and develop logistics properties, enhance asset value through technology, and connect with suitable logistics operators.2. Construction management and engineering design - They provide project management services for logistics property development.Reitar Logtech's one-stop model allows them to deeply understand customer needs, provide tailored solutions, lower operating costs, and optimize overall logistics operations. As a pioneer in the PLT (property + logistics technology) space in Hong Kong with over 20 years of industry expertise and strong relationships with key players.The company serves both logistics operators (3PLs) and capital partners investing in logistics real estate projects. Reitar Logtech help 3PLs with property procurement, licensing, and strategic planning. The company help capital partners to source, develop, and manage logistics assets to maximize value. Reitar Logtech's integrated approach and deep industry knowledge are their key competitive advantages in the concentrated Hong Kong logistics services market.Reitar Logtech raised funds through its initial public offering (IPO) to accelerate product R&D, expand its global business footprint, and continuously optimize service quality. Going forward, Reitar Logtech will strive to consolidate its leadership position in the smart logistics field, partnering with global partners to drive the digital transformation of the supply chain, and lead the smart logistics industry into a new era of development, creating greater value for customers. Copyright 2024 ACN Newswire via SeaPRwire.com.

Financial HighlightsRMB millionFor the 6 months ended 30 June 20242023Change24Q224Q1ChangeRevenue79,11560,57430.61%46,67232,44343.86%Operating profit2,1151,64528.60%1,708407319.8%Net profit1,39599040.85%1,177218440.12%Net profit attributable tothe Company and other equity holders of the Company866399117.23%78284835.19%Net profit attributable to shareholders and other equity holders of the Company after deducting non-recurring profit and loss820977(16.00%)595225164.48%Results Highlights1.The container manufacturing business segment maintained a global leading position with significant improvement in results: Benefiting from the increase in the container trade transportation demand and uncertain events such as the Red Sea incident, which led to lower the efficiency of container transportation, the sales volume of dry containers recorded a 425.54% growth year-on-year. In the first half of the year, the revenue of the container manufacturing business was RMB24.95 billion, representing a year-on-year increase of 83%, and net profit increased by 66% to RMB1.276 billion.2.Significant growth in offshore engineering revenue: Benefiting from the continued recovery of the offshore engineering equipment market, the revenue of this business segment grew significantly by 89% year-on-year to RMB7.78 billion. New orders increased by 20.1% year-over-year to US$1.79 billion, and the accumulated value of orders on hand increased by 20.9% to US$6.18 billion, of which the proportion of oil and gas business, wind power installation vessels, and ro-ro ships was approximately 2:1:1. The net loss continued to narrow by 54% to RMB84 million.3.Steady operation in two business segments for road transportation, energy, chemical, and liquid food: The vehicle business achieved revenue of RMB10.7 billion and net profit of RMB574 million, with its market share maintaining the number one position domestically; Revenue from CIMC Enric grew 6.7% year-over-year to RMB11.48 billion, and the orders on hand reached a record high of RMB29.35 billion.HONG KONG, Aug 29, 2024 - (ACN Newswire via SeaPRwire.com) - China International Marine Containers (Group) Co., Ltd. (“CIMC Group” or the “Group”, stock code: 000039.SZ/02039.HK) is pleased to announce the unaudited interim results for the six months ended 30 June, 2024 (the “Reporting Period”). The management of CIMC Group said, “In the first half of 2024, global commodity trade demand rebounded, the container market stabilised and recovered, global energy security and consumer demands increased, and the global shipping and offshore engineering market environment continued to improve. Based on the continuously consolidating foundation of its global operation platforms, we successfully navigated regional risks and achieved stable and high-quality development.In the first half of the year, the Group achieved revenue of 79.1 billion, increased by 30.61% year-over-year, with a gross profit margin maintained at 10.73%. The net profit attributable to the parent company was approximately RMB870 million, which grew substantially 117% year-over-year. During the period, the Group's container industry maintained its global industry-leading position, and its road transportation, vehicles, energy/chemical/liquid food equipment, and offshore engineering businesses also enhanced strong global competitiveness. The Group’s domestic revenue accounted for approximately 45.55% and its overseas revenue accounted for approximately 54.45%, which was flat as compared with the same period last year, maintaining a sound market landscape.”Segments Results (RMB million)1H2024 Business indicatorsRevenueAs % to the total revenueGross profitAs % to the gross profitGross profit marginNet profitContainers manufacturing24,95031.54%3,04335.85%12.20%1,276Road transportation vehicles10,70013.52%1,59518.80%14.91%574Energy, chemical, and liquid food equipment12,12115.32%1,60118.86%13.21%242Offshore engineering7,7849.84%3894.58%4.99%(84)Airport facilities and logistics equipment, fire safety and rescue equipment2,4033.04%4945.82%20.54%37Logistics services14,08917.81%87710.34%6.23%204Recycled load1,1971.51%1441.21%12.05%(49)Main segments above73,24392.58%8,14295.94%11.12%2,200A review of the main businesses is as follows:In the logistics field:In the container manufacturing business, the demand for global goods trade picked up, and uncertain events such as the Red Sea incident led to the detour of European routes, which lowered the efficiency of container transportation, and the demand for containers increased. The production and sales volume of the Group’s container manufacturing business witnessed a significant year-on-year increase. In particular, the accumulated sales volume of dry containers reached 1,382,700 TEUs (same period in 2023: 263,100 TEUs), representing a year-on-year increase of approximately 425.54%. The accumulated sales volume of reefer containers reached 44,700 TEUs (same period in 2023: 51,500 TEUs), representing a year-on-year decrease of approximately 13.2%. During the period, the container manufacturing business of the Group recorded a revenue of RMB24.95 billion (same period in 2023: RMB13.668 billion), representing a year-on-year increase of 82.54%, and a net profit of RMB1.276 billion (same period in 2023: RMB0.768 billion), representing a year-on-year increase of 66.25%. During the period, the Group took decisive action in response to the surging transportation demand in the container transportation market and the issue of lower container turnaround efficiency due to the detours caused by the Red Sea incident, resulting in significant improvements in production efficiency and delivery capabilities, further boosting overall operational efficiency and market competitiveness.Driven by similar factors, in the logistics services business, both business volume and profitability of most products of the Group recorded considerable year-on-year growth in the first half of the year, with more notable growth in the second quarter as compared to the first quarter. During the period, the logistics services business of the Group realised a revenue of RMB14.089 billion (same period in 2023: RMB9.132 billion), representing a year-on-year increase of 54.28%, and a net profit of RMB204 million (same period in 2023: RMB55 million), representing a year-on-year increase of 274.74%. In the first half of the year, the sea transportation business performed well due to the multiple measures and proactive responses, ranking CIMC Wetrans as TOP 13 on Transprot Topic’s Global Sea Transportation Enterprise List for 2024, the third place among Chinese enterprises.In the road transportation vehicles business, CIMC Vehicles actively forges new quality productivity, and continues to deepen the “StarLink Project”. During the first half of the year, against the backdrop of the industry bottoming out, it rises to the challenge and breaks through against the trend, its market share has increased, maintaining the number one position domestically. In the specialty vehicles business, CIMC Vehicles continued to consolidate its domestic market and expand into overseas markets, and actively developed integrated new energy products, leading to the small-scale delivery of the industry-first integrated hybrid electric semi-trailer tractor mixer. During the period, CIMC Vehicles achieved revenue of RMB10.7 billion (same period in 2023: RMB13.47 billion), representing a year-on-year decrease of 20.56%; achieved a net profit of RMB574 million.In the airport facilities and logistics equipment, fire safety and rescue equipment business, CIMC TianDa through integrating production and marketing layouts both at home and abroad, actively promoted integrated operations, thereby reducing overall operating costs and striving to maintain its advantages and keep its long-term stable growth of profitability in a fiercely competitive environment. During the period, the revenue of the business segment grew by 5.31% to RMB2.403 billion, and net profit increased by 364.81% to RMB37 million. In the first half of 2024, the increase in the acceptance and delivery of passenger boarding bridges and fire trucks had driven the increase in the revenue from the airport facilities and logistics equipment, and fire safety and rescue equipment businesses as compared with the same period last year, and total profit of the segment also increased year-on-year. In terms of newly signed orders, the demand in the airport facilities market continued to recover, and the program to issue RMB1 trillion treasure bonds in China boosted the rise in demand for fire safety equipment, owing to which total newly signed orders maintained overall growth.In the energy industries field:In the offshore engineering business, in the first half of the year, the international oil prices were at a high level, which stimulated an increase in demand for the oil and gas production platforms, the continuous growth in marine operation activities drove the utilisation ratio of and the rental for offshore engineering equipment to be on the rise, and the offshore engineering equipment market continued to recover. During the period, as new orders for offshore engineering entered the construction period successively, the offshore engineering business of the Group recorded a revenue of RMB7.784 billion (same period in 2023: RMB4.119 billion), representing a year-on-year increase of 88.95% growth. In terms of new orders: the value of effective orders/orders won increased by 20.1% year-on-year to US$1.79 billion (same period in 2023: US$1.49 billion) as of the end of June, including two FPSO and three ro-ro ships. The accumulated value of orders on hand increased by 20.9% to US$6.18 billion (same period in 2023: US$5.11 billion), of which the proportion of oil and gas business, wind power installation vessels, and ro-ro ships was approximately 2:1:1, which had effectively eased the periodic fluctuation of the oil and gas market, demonstrating that successful strategic transformation had been achieved.In the offshore engineering asset operation business, the Group’s on-lease platforms maintained its high-quality services and occupation rates and continued to provide customers with high-quality and efficient services. Against the backdrop of global energy security and growing consumer demand, the offshore engineering market remained active. The deep-water platform market has benefited from continued investment in development by international oil companies. According to Rystad’s forecast, global capital spending on deepwater oil and gas drilling will increase 10% year-on-year, hitting the highest level in over 10 years. The increase in global demand and the reduction in drilling platform availability are jointly driving the continued growth in day rates and utilisation rates. During the period, Caspian Driller, one of the Group’s jack-up drilling platforms, was granted a 3+2 year contract extension by the customer; and Deepsea Yantai, one of the Group’s mid-deepwater semi-submersible drilling platforms, was granted a contract extension by the customer, and the new leases increased by over 10% in daily rate as compared to the current contracts.In the energy, chemical, and liquid food equipment business, this segment achieved a revenue of RMB12.121 billion (the same period last year: RMB11.388 billion), representing a 6.43% year-over-year growth, and net profits of RMB242 million (the same period last year: RMB435 million), representing a year-on-year decrease of 44.52%. In which, CIMC Enric registered a revenue of RMB11.48 billion (same period last year: RMB10.76 billion), representing a year-on-year increase of 6.7%, newly signed orders amounted to RMB16.4 billion (the same period last year: RMB12.67 billion), representing a year-on-year increase of 29.5%, orders on hand as of the end of June amounted to RMB29.35 billion (the same period last year: RMB20.6 billion), representing a significant year-on-year increase of 42.5%, reaching a record high. The clean energy segment saw steady revenue growth, with strong demand for LNG storage and transportation equipment, as well as LNG on-vehicle cylinders. The small and medium-sized liquefied gas carriers market remained highly prosperous. In the hydrogen energy field, we successfully acquired the core assets of Beijing Zhonglian Sheng during the period and won the bid for China's largest ammonia, hydrogen, and alcohol tank project. In the chemical and environment segment, its tank container global market share remained number one and demonstrated resilient development. In the liquid food segment, it actively responded to market changes and seized growth opportunities in the domestic liquor market, winning bids for multiple liquor projects.Outlook and future developmentLogistics SegmentIn the container manufacturing business, according to CLARKSONS’ forecast in July, the growth of global container trade will significantly increase from 0.7% in 2023 to 5.1% in 2024, and in 2025, the global container trade is expected to see further growth of 2.9%, which suggests an optimistic and stable outlook for the transportation demand in the container transportation market. To cope with the risk of container shortage brought about by these uncertain events, customers’ willingness to spare containers will increase, coupled with the stable replacement rate of old containers, the demand for new containers is expected to be underpinned by the stable fundamentals during 2024–2025.In the road transportation vehicle business, in the second half of 2024, the demand for logistics and transportation in China will gradually recover, and the semi-trailer industry in China will accelerate its transformation and upgrading towards a new development stage of regularisation, standardisation, intelligence, and electrification. As the U.S. policy trend of interest rate cuts becomes increasingly certain, the demand for semi-trailers in North America may be released; and as the regulation on sustainable development of the European semi-trailer industry becomes stricter and the demand for multimodal transportation grows, the European semi-trailer industry, which is experiencing a slowdown in demand, may be benefited. There is an expected recovery in the specialty vehicle industry, with the penetration rate of new energy specialty vehicles gradually increasing and the regularisation process of specialty vehicle transportation speeding up.Energy SegmentIn the energy, chemicals, and liquid food equipment business, the latest report of Goldman Sachs Group predicts that by 2029, global investment in LNG is expected to increase by more than 50%, and global LNG supply will surge by 80% by 2030. In the domestic market, IEA predicts that by 2030, China’s share in effective LNG contracts will be doubled, increasing from 12% in 2021 to about 25%. As a leading enterprise in advanced intelligent manufacturing of clean energy equipment, driven by the increase in LNG demand, CIMC Enric is expected to continue to benefit from the related storage and transportation equipment and engineering business and will continue to expand business opportunities in overseas markets such as Southeast Asia, Africa, and the Middle East. CIMC Enric will pay attention to the changes and opportunities in the hydrogen energy market, continue to deepen the whole industrial chain layout and integrate solution capability of “preparation, storage, transportation, filling and application. In addition, leveraging its extensive years of experience in production technology and quality management in the tank container manufacturing field and the market share of its medical equipment components business, the Group will be actively monitoring changes in the global liquid food market, and maintaining close attention on emerging opportunities in the domestic liquor and other new industry segments.In the offshore engineering business, due to the relatively high oil prices continuing to stimulate oil and gas production platforms, the offshore engineering construction market was entering an upward cycle. The FPSO/FLNG market has high short-term demand and ample long-term project reserves. It is anticipated that offshore engineering manufacturers will maintain a high capacity utilisation rate over the next 3–5 years. Leveraging the advantage of the industrial cluster effect, the offshore engineering manufacturers in China are competing for orders with high technical thresholds with those in Japan and South Korea. In the second half of 2024, the Group’s offshore engineering business will continue to actively promote transformation, and integrate the industry mapping. Taking offshore oil and gas as the foundation, the Group will gradually expand to new energy sources to form a business portfolio that dilutes the impacts of the industrial cycle.Financial and Asset Management SegmentThe offshore engineering asset operation and management business of CIMC will continue to capitalise on the active cycle in the offshore engineering market and fully utilise the advantages in the entire industrial chain to advance market development, thereby improving asset rental rates. By focusing on customer needs, the Group will enhance customer satisfaction and explore future cooperation opportunities. Through lean management, the Group will continuously strengthen cost control and core competitiveness, promoting steady growth in profitability.The Group's management concludes, “In the first half of the year, the Group has consolidated and enhanced its leading industry position in its existing core businesses, while also focusing on expanding multiple strategic emerging businesses. Our core businesses have achieved steady and high-quality growth, and our effective global business layout has also effectively mitigated the impact of recent global market cyclical fluctuations.Looking ahead to the second half of the year, CIMC will follow the guidance of national policies based on the situation in the new development stage, and will also continue the implementation of the strategic theme of “accelerating the construction of new growth drivers and focusing on promoting high-quality development. We will firmly grasp the important opportunities of new quality productivity, the "Belt and Road" initiative, the unified large market, scientific and technological innovation, and green development. By consolidating and enhancing our leading industry position in our existing core businesses, we will continue to activate new business value and new driving forces, to achieve our goal of high-quality growth."-Ends-About China International Marine Containers (Group) Co., Ltd.The CIMC Group is a world leading equipment and solution provider in logistics and energy industries, and its industry cluster mainly covers logistics and energy fields, strengthening its position as a global market leader. In the logistics field, the Group still adheres to taking container manufacturing business as its core business, based on which to develop road transportation vehicles business, airport facilities and logistics equipment/fire safety and rescue equipment business and to a lesser extent, logistics services business and recycled load business providing products and services in professional field of logistics; in the energy field, the Group is principally engaged in energy/chemical/liquid food equipment business and offshore engineering business; meanwhile, the Group also continuously develops emerging industries and has finance and asset management business that serves the Group itself. As a diversified multinational industrial group that shoulders the mission of global serving, CIMC owns 3 listed companies and over 300 member enterprises in Asia, North America, Europe, Australia and others, and extensive customers and sales networks covering more than 100 countries and regions. During the year, the Group recorded a revenue of RMB127.81 billion, with gross profit margin remained at 13.77% and net profit of RMB 1.863 billion. The Group was ranked 170th in the Fortune 500 China 2023. For more information, please visit http://www.cimc.com/. Copyright 2024 ACN Newswire via SeaPRwire.com.