In 2024, the advanced intelligent manufacturing segment intensified its efforts in key technology development while continuing to explore overseas markets. The segment achieved revenue of RMB50.793 billion and profit attributable to ordinary shareholders of RMB865 million, representing year-on-year growth of 0.7% and 4.6%, respectively. CITIC Heavy Industries adhered to a marketing strategy focused on “high-end and internationalisation”, securing new effective orders totalling more than RMB15 billion, a year-on-year increase of 28.7%, achieving a record high. The company also prioritised research and development and maintained R&D spending above 7% of total revenue. However, due to intense competition in the wind power equipment and coal equipment markets, its revenue declined to RMB8.034 billion, with profit attributable to shareholders of the listed company of RMB374 million, representing year-on-year decreases of 15.9% and 2.4%, respectively. CITIC Dicastal capitalised on the recovery of the global automotive market, with sales of aluminium wheels increasing both domestically and internationally, further enhancing its market share. The “integrated die-casting” project of the aluminium casting business made significant market breakthroughs and the improved supply chain management led to a gross profit margin increase of 0.5 percentage point to 11.7%, boosting company profits.
