Research Brief | CIMC Vehicles Welcomes CITIC Securities and 102 Other Institutions; Governance Structure Iteration, Starlink Program Completion, and EV-RT Technology Breakthroughs Become Focuses

On March 25, CIMC Vehicles (Group) Co., Ltd. (hereinafter referred to as “CIMC Vehicles”) held its 2025 performance briefing and analyst meeting in a hybrid format, attracting participation from 103 institutions and individuals, including CITIC Securities, China International Capital Corporation, Hillhouse Capital, and UBS. The company’s management engaged in in-depth discussions with investors on core topics such as governance structure optimization, the “Starlink Project” outcomes, and the “Hannover Project” progress, signaling multiple strategic upgrades.

Basic Information on Investor Activities

Governance Structure Iteration: Transitioning from “Compliance Standards” to “High Quality and Efficiency”

During the discussions, institutions focused on the company’s governance structure iteration plan. CIMC Vehicles indicated that by 2025, the company had completed the integration of the supervisory board’s functions, transferring the core responsibilities to the Audit, Risk Control, and Compensation Committees, effectively improving decision-making efficiency. In 2026, the company will further benchmark against the new “Guidelines for Corporate Governance of Listed Companies,” promoting governance transformation from “compliance standards” to “high quality and efficiency.”

In terms of global governance layout, the company plans to accelerate the establishment of a parallel independent governance structure in Europe, replicating localized governance experiences from overseas markets, and optimizing the existing structures in global Southern and North American markets, forming a governance network covering core overseas markets to support the scaling of its globalization strategy.

“Starlink Project” Conclusion: Reshaping Productivity and Marketing Capability, Significant Market Share Increase

Regarding the outcomes of the “Starlink Project,” CIMC Vehicles revealed that the project successfully concluded after three years. In 2025, through the “Sprint 1231” special action, the new LTP productivity of the Starlink and the new marketing capability of the domestic business group were deeply integrated, driving a comprehensive increase in market share for China’s semi-trailer and the global Southern semi-trailer markets. Among them, the “Champions League” liquid tank truck annual model, leveraging the intelligent manufacturing “green single” model, has provided users with an optimized driving experience and received positive market feedback.

“Hannover Project” Breakthrough: Launch of EV-RT Ecosystem, Special Research Institute to be Established in 2026

Regarding the “Hannover Project” and EV-RT head trailer business, the company disclosed that it achieved milestone progress in 2025: the global launch of the “EV-RT pure electric head trailer + operation guarantee station” ecosystem, the development of the world’s first engineering-type electric trailer platform, and two prototype vehicles, the EV RT 700 muck truck and EV-RT MIX mixer truck. It also proposed the “3×3 TCO” value cycle concept to address users’ TCO anxiety through a nine-year operational lifespan plan and battery reuse.

The company also stated that in 2026, it will officially establish the “EV-RT Product Platform Research Institute,” adopting a “platform architecture + modular development” model to accelerate product iteration. It plans to globally launch a logistics-type electric trailer platform and logistics-type EV-RT head trailer at the Hannover International Motor Show in September, solidifying its position as a global technology leader.

During this survey, CIMC Vehicles emphasized that the aforementioned discussions do not involve any information that should be disclosed as material. In the future, the company will continue to drive high-quality business development through governance efficiency transformation and technological innovation.

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