(28 April 2025, Hong Kong) – CIMC Enric Holdings Limited, a global leader in clean energy key equipment manufactures and engineering services, along with its subsidiaries (collectively, “CIMC Enric” or the “Group”) (stock code: 3899.HK), announced its operational results for the first quarter of 2025. During the period, the Group's revenue increased by 24.4% year-on-year (“YoY”) to approximately RMB5.765 billion. Revenue from the three major segments—clean energy, chemical and environmental, and liquid food—rose by 33.4%, 1.4%, and 4.3%, respectively. Notably, the clean energy segment continued to lead the growth trend, accounting for 75.3% of the Group's total revenue, reaching RMB4.342 billion.
In the first quarter, despite the clean energy segment being affected by a slight slowdown in China's natural gas consumption growth, international trade conditions, and the traditional Chinese Spring Festival holiday, the Group still achieved strong revenue growth of 33.4% to RMB4.342 billion, thanks to a robust order backlog, efficient delivery capabilities, and international business expansion. Revenue from the offshore clean energy business surged by 80.0% YoY to RMB1.306 billion. During the period, the Group delivered three newly constructed vessels, including China’s first 14,000-ton clean energy bulk carrier for direct river-sea transportation that capable of LNG bunkering, as well as a 7,600 m3 LNG bunkering vessel delivered to a Canadian shipowner.
The segment's performance in overseas markets has been particularly impressive, with overseas revenue reaching RMB1.446 billion, a substantial YoY increase of 40%. Both onshore and offshore operations benefited significantly from the strong performance in international markets: the overseas revenue of onshore business grew by 27.2% YoY to RMB453 million, while the offshore segment secured an order for a 20,000 m3 LNG transportation bunkering vessel from a European shipowner.
Furthermore, the green methanol project within the clean energy business has entered the final phase prior to production. The Group has successfully established strategic partnerships with several partners, aiming to jointly develop the green methanol ecosystem in the Greater Bay Area.
The chemical and environmental segment’s revenue for the first quarter of 2025 amounted to RMB570 million, representing a YoY increase of 1.4%. Among this, revenue from the high-end medical equipment components business increased by 21.0% YoY to RMB54.41 million. The accumulated newly signed orders for this segment amounted to RMB 444 million during the period, representing an increase of 17.3% compared to the corresponding period last year.
In the first quarter, the Group's revenue from the liquid food segment reached RMB853 million. At the beginning of 2025, the Group’s production facility in Mexico has fully commenced operation, further enhancing the Group’s global business capabilities in turnkey projects for liquid food.
Leo Yang, Executive Director and President of CIMC Enric, said: “Although the global trade situation was tense in the first quarter of 2025, with trade barriers remaining high, the low-carbon development path focused on cleaner energy and greener transportation still aligns with the mutual interests of the international community. The Group's international business continues to develop robustly and rapidly, achieving multiple breakthroughs of business in regions such as the Middle East and Europe. During this period, the Group secured contracts for multiple spherical tank projects from a leading Saudi chemical company and received orders for LNG transportation bunkering vessels from European shipowners. Additionally, CIMC Hexagon, a joint venture of the Group, has obtained European TPED certification and commenced batch deliveries of Type 4 high-pressure hydrogen storage cylinders to local customers, demonstrating the Group's strong capabilities in overseas markets. Moving forward, the Group will continue to seize opportunities for green development, showcasing our technological strength and innovative advantages in comprehensive solutions during the energy transition period, thereby helping domestic and international clients gain a competitive edge in their green transformations.”
