Backlog orders exceeded RMB22 billion
Revenue and newly signed orders from clean energy segment surged
Operating Data Summary
Orders Data Summary
(26 October 2023 – Hong Kong) CIMC Enric Holdings Limited together with its subsidiaries (“CIMC Enric” or the “Group”) (Stock Code: 3899.HK), were pleased to announce its operational results for the first three quarters of 2023 (the “period”). For the first three quarters of 2023, the Group's revenue increased by 17.0% year-on-year (“YoY”) to RMB16.64 billion, with revenue from the domestic and overseas markets accounting for 49.5% and 50.5% of the Group's total revenue, respectively. During the period, the clean energy segment has achieved outstanding performance, with its revenue and newly signed orders growing significantly YoY by 33.9% and 61.5%, respectively. The backlog orders of the Group as at the end of September reached a new high of RMB22.16 billion.
In the first three quarters of 2023, the demand for natural gas storage and transportation equipment of the Group gradually recovered, mainly benefiting from the recovery of natural gas consumption and the decline of LNG prices to the normal range. In addition, the economy of LNG is prominent with the widening price gap between oil and gas, which led to the sharp growth of the LNG heavy truck market and further promoted the demand for the Group’s terminal application equipment such as LNG on-vehicle cylinders. Revenue from the clean energy segment for the first three quarters of 2023 significantly increased by 33.9% to RMB9.98 billion, remaining the top grossing segment of CIMC Enric. The cumulative newly signed orders during the period also soared by 61.5% YoY to RMB13.23 billion.
In terms of the hydrogen energy business, the sales of hydrogen energy storage and transportation equipment, on-vehicle hydrogen cylinders and supply systems of the Group maintained growth. Revenue from the hydrogen energy business for the first three quarters of 2023 achieved a significant YoY increase of 62.7% to RMB440 million. In addition, the Group has also made various breakthroughs in the research and development of hydrogen energy equipment, successfully launching hydrogen 90MPa hydraulic-driven compressor, 45MPa diaphragm compressor, China’s first 30MPa hydrogen tube bundle container, and China’s first cryogenic anhydrous ammonia carrier. The latter two transportation equipment both have secured bulk orders.
The chemical and environmental segment’s revenue during the first three quarters of 2023 decreased by 7.9% to RMB3.64 billion. As the global tank container supply and demand relationship tends to be balanced, the demand for standard tank containers has declined. The chemical and environmental business of CIMC Enric has been successfully spun off and completed the A-shares listing on the ChiNext Market of the Shenzhen Stock Exchange, with the stock abbreviation: CIMC SAFEWAY (SZ.301559).
During the first three quarters of 2023, the projects on hand advanced steadily and the liquid food segment achieved a revenue of RMB3.01 billion, representing a YoY increase of 7.2%.
Mr. Yang Xiaohu, Executive Director and President of CIMC Enric, said, “CIMC Enric, with its comprehensive business layout and leading market position in the field of clean energy equipment intelligent manufacturing, has fully benefited from the recovery and growth of energy consumption, LNG price economics and other favorable factors this year. Clean energy segment in the first three quarters of this year also achieved good performance. In the future, we will pay full attention to the global market opportunities brought by the growth of natural gas consumption, the green upgrade of shipping, and the rapid development of hydrogen energy, give full play to the Group's leading advantages in intelligent equipment manufacturing and comprehensive solutions, and continuously contribute to the global low-carbon development goal.”
