The inaugural meeting and the first meeting of the first Board of Directors of CIMC Vehicles (Group) Co., Ltd. (CIMC Vehicles) were held in Shenzhen on October 8, 2018.

As a business segment of CIMC, CIMC Vehicles has always created opportunities through hard work and made great reforms amid opportunities, thus it now has established an independent, mature and sound business system. Based on CIMC's strategic development plan for the vehicle business segment to broaden financing channels, expand the scale of industrial capital, and enhance core competitiveness, CIMC intended to split the vehicle business segment and convert it into a joint stock limited company with a view to conducting value revaluation and maximizing shareholder value.

CIMC Vehicles has eight shareholders: China International Marine Containers (Group) Ltd., China International Marine Containers (Hong Kong) Limited, Sumitomo Corporation. They sent representatives to the meeting and adopted 10 proposals through voting.

At the meeting, the first Board of Directors and the first Board of Supervisors were elected, and the first meeting of the first Board of Directors and the first meeting of the Board of Supervisors were held, respectively. Mr. Mai Boliang was elected as chairman of the first Board of Directors of CIMC Vehicles, and Mr. Liu Zhenhuan as chairman of the first Board of Supervisors. Mr. Li Guiping was appointed as president of CIMC Vehicles, Ms. Li Zhimin as vice president and secretary of the Board of Directors, and Luo Peng as financial director.

"We are located in Shenzhen, the most dynamic place in the Guangdong-Hong Kong-Macao Greater Bay Area. 'Connectivity' has brought us many new opportunities. CIMC Vehicles, since its foundation in 2002, has created and benefited from opportunities," said President Li Guiping at the meeting. In the future, CIMC Vehicles will continue to follow the business philosophy highlighting "global operation, local wisdom," and take the restructuring as an opportunity to redouble efforts in "production line upgrade and organizational restructuring" and to rebuild the global operation system of semi-trailers. Thus, it is committed to growing into a reliable world-class leader in the semi-trailer industry.