Investment analysts have initiated coverage on China International Marine Containers (Group) Co.,Ltd. (000039.SZ) A-shares with an "Outperform" rating, setting a target price of RMB 10, which corresponds to a projected 2025 price-to-book ratio of 1x. The H-shares of CIMC (02039) also received an "Outperform" rating with a target price of HK$11, representing the same 2025 P/B multiple of 1x.

The company is recognized as a global leader in providing equipment and solutions for the logistics and energy industries. Given the backdrop of enhanced shipping safety requirements and structural increases in deepwater oil production, the firm's related logistics and energy equipment businesses maintain leading global market competitiveness and are positioned for steady growth. The company represents a relatively scarce investment opportunity with cross-sector business capabilities and comprehensive solution provision.

In the refrigerated container segment, the company has consistently maintained a market share exceeding 50%, ranking first globally. Leveraging comprehensive advantages in scale, cost, customer base, and capital resources, industry concentration has been consolidated and enhanced during cyclical downturns, positioning the company to benefit preferentially when cycles turn upward.

While market concerns exist regarding the high base comparison from last year's container performance, the container business is expected to benefit long-term from "re-globalization" trends and replacement demand, with market share steadily increasing. The marine engineering business, after turning profitable last year, is anticipated to continue contributing to profit growth.

Earnings per share projections for the company stand at RMB 0.58 and RMB 0.73 for this year and next year respectively, with a compound annual growth rate (CAGR) of approximately 15% expected from 2024 to 2026.