CIMC Vehicles (Group) Co Ltd, invested by Central SOEs Industrial Investment Fund, was successfully listed on the ChiNext of Shenzhen Stock Exchange on July 8, 2021. Wang Weidong, Chairman of the Board of SDIC Chuangyi, and General Manager of Central SOEs Industrial Investment Fund, attended the listing ceremony on behalf of the fund.

CIMC Vehicles issued 253 million shares on the ChiNext with an issue price of 6.96 yuan per share, and raised 1.758 billion yuan. The stock performed well with an opening price of 21 yuan per share, registering an increase of 201.72 per cent.

The successful listing of the stock has made CIMC Vehicles the world’s first semi-trailer and specialty vehicles manufacturer to be listed on both the mainland and Hong Kong stock markets. According to data from Global Trailer, sales of CIMC Vehicles-produced semi-trailers ranked the first in the world market for eight successive years. In the domestic market, CIMC Vehicles ranks the first in terms of sales of cement mixers and is also a leading manufacturer of truck bodies for specialty vehicles and refrigerated van trucks.

The sophisticated manufacturing system developed by CIMC Vehicles has upgraded its production of semi-trailers to module, smart and environment friendly automation manufacturing from the past labor intensive manufacturing mode, which has not only prompted the development of the company, but also made the company a leader in transforming the production mode of the whole industry.

Investment from Central SOEs Industrial Investment Fund will help provide financial support to the growth and development of CIMC Vehicles enterprises in Zhumadian of Henan Province, Baiyin of Gansu Province and Urumqi of the Xinjiang Uygur Autonomous Region, a boost to regional economic development.

Zhumadian Huajun Foundry Co Ltd, for instance, is one of the benchmark enterprises of CIMC Vehicles sophisticated manufacturing system, a national level green manufacturing plant and an influential, large-type manufacturing enterprise in Zhumadian City. Zhumadian Huajun is not only a big tax payer in the city, but also an important job provider. A leading specialty vehicle enterprise, Zhumadian Huajun Foundry Co Ltd has also created business opportunities for more than 40 small and medium-sized downstream and upstream firms in the region, which has made tremendous contribution to the local economic development through stimulating local investment and creating jobs.

On July 30, 2019, the central government urged measures to be taken to stabilize investment in manufacturing industry and build urban and rural cold chain logistics facilities. SOEs of the country since then have been paying special attention to investment in cold chain logistics so as to strengthen construction of farm produce storage and transportation facilities, and help revitalize rural economic development. CIMC Vehicles trailer producing firms drafted plan for investment and manufacturing of mobile cold storage and refrigerated semi-trailers to serve the economic development needs in rural areas. Central SOEs Industrial Investment Fund will join hands with the trailer producers to focus on development of cold chain logistics to solve the bottleneck of “the first mile” and “the last mile” in the cold chain logistics, which is expected to help effectively connect producers of farm produce with consumers and boost sales of farm produce.

Central SOEs Industrial Investment Fund is determined to grasp this investment opportunity to broaden cooperation scopes with CIMC Vehicles in the logistics sector.