Financial Associated Press, October 30 (Reporter Hu Haoqiong)The container market industry is depressed, container manufacturing reached the worst level in 10 years, China International Marine Containers (000039.SZ) performance in the first three quarters of a large pullback, but container prices are still relatively stable. In today's performance presentation meeting, many investors will also focus on the container manufacturing this year's "volume decline and price stability" characteristics.

In this regard, China International Marine Containers Dong Secretary Wu Sanqiang explained that due to the problem of physical delivery costs in the container manufacturing industry, container manufacturers are close to the container terminal and superimpose some industry emission requirements, which is different from other industries. The number of container manufacturers is relatively stable. In addition, from the demand side, customer demand is theoretically based on the judgment of their own transport capacity and the elimination and replacement of existing stocks, as well as their own financial capacity to decide whether to make capital expenditure plans on containers, rather than a substantial increase in reserves just because of the sharp drop in container prices. All these factors potentially support container prices.

"the sales volume of the whole industry is also gradually rising in the third quarter, and the current market is gradually coming out of the impact of the relative surplus in 2021." Wu Sanqiang further said that the industry is expected to further normalize next year, and it is believed that next year will be better than this year.

In terms of the competition pattern, Wu Sanqiang said that China International Marine Containers is still a leading container manufacturer in the industry, and there is little possibility that new entrants will participate in the competition. "capacity expansion requires land. At present, it is difficult to break through the land around container terminals such as the Yangtze River Basin and the Yangtze River Delta. For this reason, the competition among new entrants is not realistic, and the overall industry pattern is relatively stable."

Marine engineering continued to reduce losses, of which Yantai CIMC Raffles Marine Technology Group Co., Ltd. made a profit in the second and third quarters. As for the questions raised by investors about "the main reason for the obvious improvement in revenue and net profit of the marine sector this year" and "the expectation for next year", the company said that the company's revenue from the marine sector in the third quarter was 2.6 billion yuan. Excluding the US dollar debt factor, the marine sector business has shown a good pattern this year. In the follow-up, as the price of orders received by the company in 2021 is relatively low, profitability and gross margin will continue to improve with the increase in the amount of orders from 2022 to 2023.

According to the Q3 results announced by China International Marine Containers last night, the revenue in the third quarter was 34.55 billion yuan, down 6.64% from the same period last year, and the net profit was 97.021 million yuan, down 83.25% from the same period last year. In the first three quarters, China International Marine Containers realized revenue of 95.124 billion yuan, down 12.84 percent from the same period last year, and realized net profit of 496 million yuan, down 84.1 percent from the same period last year.