CIMC Group (000039.SZ) posted an advance increase. Net profit for the third quarter is expected to increase sharply by 708% to 1069% year-on-year

According to Zhitong Finance App News, CIMC Group (000039.SZ) released a performance forecast for the first three quarters. Net profit attributable to shareholders and other equity holders of the parent company is expected to be 1.65 billion yuan to 2 billion yuan for the first three quarters, a sharp increase of 233% to 304% over the previous year. Among them, net profit attributable to shareholders and other equity holders of the parent company increased by 708% to 1,069% in the third quarter.

The container transport industry recovered cyclically in the first three quarters, and due to factors such as the Red Sea incident lengthening transportation distances, the container manufacturing business saw a sharp year-on-year increase in standard dry container sales. The segment's business revenue and net profit both rose sharply compared to the same period last year; the offshore industry benefited from increased market demand, and revenue and net profit increased in the first three quarters compared to the same period last year; at the same time, the RMB exchange rate against the US dollar during the third quarter showed a certain amount of exchange losses. Combined with the above factors, the Group's net profit attributable to shareholders and other equity holders of the parent company from January to September 2024 is expected to increase as compared to the same period last year.