[Group News] CIMC Vehicles Reports 16.16 Billion Yuan in Revenue for the First Three Quarters, Up 7.7% Year-on-Year; Global Leadership Position Further Consolidated

On the evening of October 27, CIMC Vehicles (301039.SZ) released its Q3 2026 report. In the first three quarters, CIMC Vehicles achieved revenue of RMB 16.16 billion, up 7.7% year-on-year; net profit attributable to shareholders reached RMB 490 million; and net profit attributable to shareholders after deducting non-recurring gains and losses reached RMB 480 million. As of September 30, 2026, net cash flow from operating activities reached RMB 1.05 billion, up 8.2% year-on-year; cash on hand stood at RMB 6.19 billion; and the asset-liability ratio remained at a healthy level of 36%. At the same time, CIMC Vehicles places great emphasis on R&D investment, with R&D expenses reaching RMB 370 million in the first three quarters, up 16% year-on-year.

Since 2026, CIMC Vehicles has maintained a "Born-global" vision, built upon the transformative results of the "Starlink Plan," continuously advanced the "Star Plan," and actively expanded the boundaries of the "full value chain" curve. The company's Q3 sales volume grew 6.2% year-on-year, achieving 8 consecutive quarters of positive year-on-year growth, with a cumulative growth of 14.6% in the first three quarters of 2026. According to the recent Global Trailer ranking of global trailer manufacturers, CIMC Vehicles has ranked first among global trailer manufacturers for 14 consecutive years, and its sales lead over the second-place manufacturer has expanded from 51,000 units to 74,000 units, further consolidating its global leadership position.

Globalization Strategy Enters Deep Water Zone
Building a "Born-global" Development Pattern

Currently, the company's globalization strategy has entered a phase of deepening implementation. The company is deepening localized operations, continuously improving its global business layout, and forming a multi-point supporting business structure through differentiated operations.

China semi-trailer business, leveraging the solid foundation built by the "Starlink Plan," has won the positional battle against industry involution, with Q3 sales volume up 5% year-on-year and cumulative growth of 11.3% in the first three quarters, achieving a double improvement in market share and profitability.

Global South semi-trailer business maintained rapid growth, with accelerated localization rollout and simultaneous expansion in multiple markets. The company has successively launched localized operations in Indonesia and Tanzania, conducting production, sales, and service support close to local market demands. Orders from Southeast Asia (Vietnam, Indonesia, Thailand), East Africa, and Central Asia maintained strong growth, with emerging market demand dividends continuously being released.

European semi-trailer business operated steadily, with Q3 sales volume up 14.9% year-on-year. Its SDC brand maintained the No. 1 position in the UK semi-trailer market, further widening the market share gap with the second-place competitor. The local supply chains of the two European companies have been deeply integrated into the global centralized procurement system, maintaining good profitability.

The North American semi-trailer market is currently at a stage of cyclical bottoming and order recovery. According to ACT Research data, against the backdrop of cumulative industry declines of 5.6% and 2.6% in van trailers and refrigerated trailers respectively, the company's cumulative sales of van trailers and refrigerated trailers in the first three quarters grew against the trend by 5.9% and 13.1% year-on-year. The "Polar Bear Plan" key initiative advanced by the company has achieved critical phased progress. At the same time, the company is orderly promoting the transfer of core production capacity and supply chain resources to the US mainland, effectively enhancing the cooperation willingness and ordering confidence of major North American fleet customers.

Stunning Debut at Hannover Messe
EV-RT Commercialization Fully Accelerates

In September, the Hannover International Transportation Expo (IAA Transportation 2026), the highest stage in the global commercial vehicle industry, opened in Germany. Leveraging this international showcase window, CIMC Vehicles launched a full-series vehicle platform covering two major application scenarios — engineering and logistics — along with tractor-trailer integrated collaborative control technology and modular mobile energy replenishment compartments, showcasing the EV-RT ecosystem. The Hannover exhibition represents CIMC Vehicles' systematic exploration of the electrification development path for commercial vehicles, and also outputs a pragmatic, implementable Chinese solution for the global green transformation of road trains.

When the spotlight dims and the exhibition vehicles return to the warehouse, these explorations quickly drive onto the broader open road. Moving from the exhibition stand to the market, the commercialization process of EV-RT is fully accelerating.

For EV-RT Starlink semi-trailers, CIMC Vehicles has achieved scaled matching and delivery, validating market recognition of tractor-trailer combined application scenarios. At the same time, the company is conducting specialized optimization of semi-trailer models for electric tractor heads, focusing on lightweighting, tractor-trailer collaboration, and energy consumption reduction, with the goal of lowering customers' Total Cost of Ownership (TCO).

EV-RT Spark pure electric cement mixer truck sales achieved quarter-on-quarter growth in Q3, with positive market expansion momentum. The company is conducting in-depth collaboration with leading domestic OEMs to advance chassis reconfiguration technology solutions, exploring paths such as e-axle applications, elimination of drive shafts, and integrated tank-chassis design, which are expected to achieve overall vehicle weight reduction and improved passability.

Meanwhile, in terms of cutting-edge technology reserves, the company continues to carry out R&D layout around directions such as tractor-trailers with independent control systems, kinetic energy recovery, and distributed batteries.

Looking ahead, CIMC Vehicles will build a Born-global development pattern, continue to leverage its industrial leadership as a global leader, accelerate the EV-RT commercialization process, build the EV-RT ecosystem, drive steady and sustained business growth through technological innovation and global synergy, and contribute to the global green transformation of commercial vehicles.