EQS Newswire / 27/04/2023 / 18:31 UTC+8
CIMC Vehicles (Group) Co., Ltd.
(Stock Code: 1839.HK/301039.SZ)
CIMC Vehicles Publishes 2022 ESG Report: Practicing Green and Low-Carbon Concepts and Promote High-Quality Development
(26 April 2023, Hong Kong) – As the world’s leader in the sophisticated manufacturing of semi-trailers and specialty vehicles, a pioneer in the high-quality development of road transport equipment in China, and an explorer and innovator in new energy specialty vehicles in China, CIMC Vehicles (Group) Co., Ltd. (“CIMC Vehicles” or the “Group”, Stock code: 1839.HK/301039.SZ) published its 2022 Social Responsibility and Environmental, Social and Governance (ESG) Report. The report comprehensively illustrates CIMC Vehicles’ new developments and achievements in 2022 in the aspects of green manufacturing, product technology innovation, and social governance, as well as the Group’s continuous improvement in ESG management while promoting sustainable development and fulfilling its social responsibilities.
Anchoring Green and Low-carbon Development and Constructing “Light Tower Manufacturing Network” Continuously
Due to the “carbon peaking and carbon neutrality” strategy, green and low-carbon manufacturing has become an important task for achieving industrial transformation and upgrading, and it has generally tended to be the requirements of implementing high-quality development.
CIMC Vehicles actively practices green and low-carbon manufacturing and continues to construct the “Sophisticated Manufacturing System”. As of the end of 2022, the Group had 25 “Light Tower” Plants at home and abroad, applied automated, intelligent, and digital environmental protection and emission reduction facilities in various production processes to provide a guarantee for promoting high-quality development. In 2023, the Group started a business for the third time and deepened the construction of the “Light Tower Manufacturing Network,” actively made an arrangement for the LTP production center and the LoM manufacturing plant, and promoted the digital upgrade of the LTL “Light Tower” logistics, LTS “Light Tower” sourcing center and LoP local procurement, utilized sophisticated manufacturing production lines and capacity; achieved mutual complementation of superior resources and efficient synergy.
Meanwhile, in response to the national call for photovoltaics, CIMC Vehicles actively promoted the use of clean energy. Ruijiang Tanker, Qingdao Refrigerated Transport, Dongguan CIMC, and Yangzhou Tonghua Tanker, subsidiaries of CIMC Vehicles, employed rooftop resources to install photovoltaic panels. In 2022, CIMC Vehicles’s cumulative photovoltaic power generation reached 10,511,700 kWh, representing an increase of 251,700 kWh from 2021 and it achieved a total reduction in carbon emissions of approximately 6,903.89 tons.
Furthermore, CIMC Vehicles and its subsidiaries continued to upgrade and transform coating lines to reduce VOC emissions from the source. In 2022, the Group’s VOC emissions amounted to 31.13 tons, with an emission intensity of 0.13 tons per billion of revenue in RMB. There was a 56% decrease in total emissions from the previous year.
Upon years of unremitting efforts, CIMC Vehicles has set an industry benchmark for green environmental protection. Currently, the Group has four national green plants, two national model enterprises for green supply chain, two provincial green plants, three national enterprises which were rated as small technology giants that “apply special, sophisticated techniques to produce unique and novel products”, and one provincial enterprise which was rated as small technology giants that “apply special, sophisticated techniques to produce unique and novel products”. Moreover, Ruijiang Tanker, a subsidiary of CIMC Vehicles, was awarded the Quality Award granted by Anhui’s government.
Adhering to Innovation-driven Development to Expedite Exploration in the New Energy Field
Innovation is the fundamental driver for enterprises to cultivate their development advantages. CIMC Vehicles has always adhered to innovation, increased its research and development in new products, new technologies, new processes, and new equipment, and continuously improved the Group’s independent innovation capabilities and core competitiveness.
The ESG report reveals that CIMC Vehicles’ s total R&D investment amounted to approximately RMB300 million in 2022, establishing favorable conditions for the development of new products and the upgrading and transformation of production technology processes. In 2022, the Company and its subsidiaries had 250 new patents. As of the end of 2022, the Group had over 1,400 patents and participated in the formulation and revision of 30 national and industry standards for semi-trailers and truck bodies for specialty vehicles in China.
CIMC Vehicles particularly conformed to the general trend of electrification and intelligentization of the automobile industry, and actively promoted the development and innovation of new energy and intelligent products, and produced and sold innovative products including new energy lightweight urban dump trucks, pure electric mining trucks, concrete mixer trucks with battery charging and swapping, and new energy refrigerated vans. As a result, the Group got ahead in development in the market and responded to the national’s goal of achieving carbon neutrality.
For example, CIMC Vehicles has launched various products of new energy mixer trucks, such as battery charging and swapping models. These fully-assembled vehicles have outstanding performance in safety, reliability, economy, comfort, and handling, and have therefore received consistent recognition from users. Especially in terms of energy consumption and carbon emissions, electric mixer trucks achieve zero emissions during transportation. A 100-kilometer journey in a fuel-powered mixer truck consumes about 40 liters of diesel, resulting in a reduction of 28 kg of carbon emissions for every 100 km (the calculation is based on 0.717 kg of carbon emissions generated by burning 1 liter of diesel). On the lifecycle of 700,000 km, these electric mixer trucks can reduce carbon emissions by approximately 200,000 kg.
Strengthening Construction of Talent Team for High-quality Development
“Talent is the most crucial resource.” With the continuous deepening of strategy of the “Sophisticated Manufacturing System”, CIMC Vehicles adopted various measures to enhance the construction of a professional talent team to meet the needs of high-quality and sustainable development.
On the one hand, CIMC Vehicles deepened its training program for fresh graduates, launching talent development programs such as “2025,” “Global Operation,” and “MBA” to recruit outstanding graduates to join the Group. These continuously cultivated core technical talents and global operation strategic leaders to lead the development of Industry 4.0, benefiting both the Group and society. On the other hand, the Group deepened its cooperation with universities, continued to support the “CIMC Vehicles Scholarship”. In 2022, the Group awarded a total of RMB 200,000 in scholarships to 42 students from Jiangsu University.
It is worth mentioning that the Group’s senior leadership training programs continue to progress, of which the fourth one has been launched. Senior management members, through deep learning, have become the promoters of the Group’s Sophisticated Manufacturing System, core members of strategic development projects, and even leading figures in the industry. At present, several trainees have graduated early and become core business executives of the Group.
In addition, CIMC Vehicles and its subsidiaries insist on standing by our society through thick and thin, actively fulfilling corporate social responsibility by engaging in public welfare and charity, and striving to give back to society. In 2022, the Group held 20 public welfare activities, donated a total of RMB 378,700 (including self-raised donations), and provided 1,513 hours of volunteer service with 124 participants.
Entering a new development stage, CIMC Vehicles has started a business for the third time. Looking ahead, it will continue to practice ESG concepts, construct a new development pattern with excellent global operation capabilities and robust execution. CIMC Vehicles will strive to center a new stage of high-quality development!
About CIMC Vehicles (Group) Co., Ltd
CIMC Vehicles (Group) Co., Ltd. (“CIMC Vehicles”, Stock code: 301039.SZ/01839.HK) is the world’s leader in the sophisticated manufacturing of semi-trailers and specialty vehicles, a pioneer in the high-quality development of road transport equipment in China, and an explorer and innovator in new energy specialty vehicles in China. According to the 2022 Global OEM Ranking List published by Global Trailer, CIMC Vehicles ranked first among semi-trailer manufacturers in the world, for the tenth year in a row.
CIMC Vehicles had six major businesses or groups, namely “Light Tower Pioneer Business”, “North American Business” and “European Business” engaged in the global semi-trailer market, “Champion Tanker Business Group” with a focus on sophisticated manufacturing of truck bodies for specialty vehicles and van truck bodies, “TB Business Group – Dump Truck Business” and “TB Business Group – Urban Distribution Van Truck Bodies Business”, covering four major markets in the world, more than 40 countries and regions, and had 25 “Light Tower” Plants at home and abroad.
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27/04/2023 Dissemination of a Financial Press Release, transmitted by EQS News.
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