(27 March 2024, Hong Kong) – CIMC Enric Holdings Limited and its subsidiaries (collectively, "CIMC Enric" or "Company") (stock code: 3899.HK) are pleased to release that Zhangjiagang CIMC Sanctum Cryogenic Equipment Co., Ltd. ("CIMC Sanctum"), a subsidiary of the Company, will supply intelligent dual 1,500L LNG on-vehicle cylinders for the strategic cooperation agreement involving 1,000 LNG tractor units signed between heavy-duty truck and logistics customers. This project sets a record for China's largest single order of LNG vehicles equipped with dual 1,500L gas cylinders. As the sole supplier of LNG cylinders for this project, CIMC Enric will provide 1,000 sets of dual 1,500L LNG on-vehicle cylinders—the largest volume currently available for twin-cylinder units. This partnership showcases CIMC Enric's comprehensive capabilities in R&D, manufacturing, and market expansion, as well as the market's strong satisfaction and recognition of the Company's product quality and service excellence.
The intelligent dual 1,500L LNG on-vehicle cylinders provided by CIMC Enric for this batch of LNG tractors adopt cutting-edge intelligent booster pump technology to ensure a reliable and efficient gas supply. Additionally, the design of the dual 1,500L cylinders, which is the largest volume available for twin units, provides a cruising range of 3,500 km. This design meets the gas requirements for long-distance transport, reducing the frequency of refuelling stops and further enhancing transport efficiency. It is worth mentioning that these dual 1,500L LNG on-vehicle cylinders are manufactured on CIMC Enric's newly launched intelligent production line. To date, 100 sets have been produced and delivered. Operating on a double-shift system, the production line can manufacture up to 100,000 LNG on-vehicle cylinders annually, ensuring a robust and continuous supply for the market.
CIMC Enric has consistently earned the client's trust through superior product quality and comprehensive services, providing high-quality LNG on-vehicle cylinders and all-around solutions for many head logistics and heavy-duty truck enterprises in China, ensuring that customers can get timely product supply and professional technical support, and laying a solid foundation for long-term and staple cooperation, promoting the sustainable development of the heavy-duty truck industry together.
In recent years, the LNG heavy-duty truck has emerged as a frontrunner in the commercial vehicle sector due to its cost-effectiveness, with sales soaring and market share growing steadily. Data shows that in 2023, the sales volume of LNG heavy-duty trucks reached 152,000 units, a 307% increase YoY. The penetration rate in the heavy-duty truck industry climbed to 16.7%, hitting a historical high. With the booming demand for LNG heavy-duty trucks, orders for CIMC Enric's LNG on-vehicle cylinders continued to skyrocket, with new orders in 2023 amounting to RMB1.285 billion, a 39-fold increase YoY.
Mr. Yang Xiaohu, Executive Director and President of CIMC Enric, stated: "This deal is another significant milestone for CIMC Enric in its intensive focus on the LNG on-vehicle cylinder market. The Company will continue to make full use of its advantages in technologies and constantly promote product upgrades and technological innovation while enhancing production lines and increasing production capacity, so as to provide strong support for its clients and their demands. Looking ahead, CIMC Enric will engage in close collaboration with partners throughout the industry chain to drive the sustainable development of the LNG heavy-duty truck industry and help China achieve its 'dual-carbon' goal on schedule."
