On July 14, CIMC issued an announcement stating that the consolidated net profit of the group attributable to shareholders and other equity holders of the parent company for the six months ended June 30, 2021 will turn losses into profits compared to the same period last year. The estimated profit is RMB 4 billion to RMB 4.6 billion.
 
The group's consolidated performance for the six months ended June 30, 2021 is expected to turn around from a loss to profit compared to the same period last year. The main reasons are as follows: In the same period last year, the Group’s business segments were affected by the global spread of public health incidents and fluctuations in the international economy and trade. The group's performance in the first half of last year suffered a loss; In the first half of this year, the global economy showed an accelerated recovery trend, international trade maintained a relatively high degree of prosperity, and the market's demand for containers continued to be relatively high. In the first half of this year, compared with the same period last year, the volume and price of the Group's container business have risen, and the performance has achieved a substantial increase compared with the same period last year.
 
Source: Sarah Yu, XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.