Financial Highlights:
Annual revenue in 2025 grew steadily by 6.3% to RMB 26.33 billion
Net profit attributable to equity shareholders increased by 3.7% YoY to RMB 1.14 billion, with basic earnings per share at RMB 0.561.
Proposed final dividend of HKD 0.31 per ordinary share, with a payout ratio of 50%.
Cumulative new orders for the clean energy business exceeded RMB22 billion, with backlog exceeding RMB 26 billion by the end of 2025. Among them, the offshore clean energy business achieved cumulative new orders exceeding RMB 10 billion, with backlog exceeding RMB 19 billion by the end of 2025.
Generated revenue of nearly RMB 0.1 billion in the commercial aviation field, with overseas markets accounting for approximately 50% of the total revenue
(24 March 2025, Hong Kong) – CIMC Enric Holdings Limited, a global leader in clean energy key equipment manufacturing, core process technologies, and integrated services, along with its subsidiaries (collectively, "CIMC Enric" or "Group") (stock code: 3899.HK), is pleased to announce its audited annual results for the year ended 31 December 2025 (the "Year").
Mr. Gao Xiang, Chairman of CIMC Enric stated, ‘In 2025, CIMC Enric fully accelerated its advancement towards becoming a “technology-based, integrated energy service provider of low-carbon intelligent solutions”. The clean energy segment has achieved an ‘end-to-end’ full industrial chain extension from equipment manufacturing to core processes and integrated services. Through the implementation of projects such as the joint production of hydrogen and LNG from coke oven gas and biomass green methanol, we have successfully strengthened our upstream resource and integrated service capabilities. While consolidating its leading global position in tank containers, the chemical and environmental segment deeply cultivated full life-cycle services relying on “Intelligent Transformation, Digital Transition” and entered high-barrier new tracks such as key equipment for high-end medical imaging and frontier controllable nuclear fusion, constructing a second growth curve. Facing external challenges of global trade volatility and cautious client investments, the liquid food segment validated the resilience of its diversification strategy by delivering a series of key turnkey projects in Mexico, Brazil, Cambodia, and China.’
In 2025, the Group’s total revenue rose by 6.3% year-on-year (“YoY”) to RMB 26.326 billion. Net profit attributable to equity shareholders was RMB 1.135 billion, representing an increase of 3.7% YoY.
Operational Performance
For the clean energy business, the Group firmly advanced its transformation goal of becoming a technology-based, integrated energy service provider of low-carbon intelligent solutions, while actively expanding its presence in upstream clean energy resources, including the production of LNG, blue hydrogen, blue ammonia and green methanol and other clean energy, further enhancing its “end-to-end” green business ecosystem. Meanwhile, the Group maintained its core business advantages of “key equipment, core processes, integrated services” in the clean energy sector.
Benefiting from its diversified business layout, solid customer acquisition and continued development in overseas markets, the overall performance remained stable, with further enhanced profitability. In the integrated services field, the Group’s first implemented project, the Anji project, has delivered outstanding operational performance since commencing operations in September 2024. In 2025, LNG achieved full-capacity production and sales, and the Group collaborated with its partners to promote the formation of the “end-to-end” closed-loop and large-scale application of the hydrogen industry chain in the neighbouring areas.
The second project replicated in this field, the Linggang Steel project, officially commenced operations in November 2025 and set a new industry record for project duration. It is expected to reach an annual full-capacity production of 147,000 tons of LNG and 60,000 tons of blue ammonia, becoming the first project to achieve 100% conversion of coke oven gas in China, contributing to China’s “dual carbon” goals and energy transition objectives. Meanwhile, the Group’s first mass-production biomass green methanol project was officially put into operation in Zhanjiang, Guangdong on 16 December 2025. Upon reaching full capacity in the first phase, the project’s planed annual production capacity is 50,000 tons. The project is also supported by the Group through the provision of core equipment and turnkey project contracting services, and has established the first green methanol supply chain ecosystem covering “production – storage – transportation – utilisation” in South China.
For the onshore clean energy business, in 2025, the sales of LNG cylinders of the Group reached a record high, generating a revenue of RMB 1.2 billion, with new orders totaling approximately RMB 1.4 billion, representing a 13% YoY increase. The Group delivered over 200 LNG power packages to inland waterway vessels throughout the year, achieving record highs in both related revenue and orders. In terms of natural gas, the Group supplied 20 units of the AM1200 Gas Distributed Energy Station to CNPC Daqing Drilling Plant and provided a LNG power generation solution for oil wells in the Daqing Gulong Continental Shale Oil National Demonstration Zone, which generated power of over 1.5 million kWh cumulatively throughout the year, with a comprehensive power generation efficiency exceeding the industry average by 10%.
For the commercial aviation field, the Group successfully delivered specialised cryogenic and high-pressure storage equipment, including liquid oxygen tanks, liquid nitrogen tanks, and methane tanks to leading aviation companies in Hainan, Jiuquan, North America and other regions. The Group generated revenue of nearly RMB 0.1 billion, with overseas markets accounting for 50% of the total. The Group also achieved breakthroughs in the research and development of rocket equipment, and delivered samples of carbon fiber winding high-pressure bottles to customers for testing during the period, which are expected to be applied in the fuel-boosting stages of rocket launches. Additionally, the Group continued to expand its overseas business, as sales revenue of high-end cryogenic equipment increased by nearly 17 times year-on-year, securing multiple orders for spherical tanks and large cryogenic tanks from leading enterprises in the Middle East, Africa, South America and other regions. The new overseas orders for onshore clean energy increased to RMB 2.6 billion year-on-year, while the overseas business from onshore clean energy achieved revenue of RMB 2.2 billion, remaining at a historically high level.
For the offshore clean energy business, the Group achieved revenue of RMB 6.4 billion in 2025, a record high, representing a year-on-year increase of 37.6%. During the Year under review, the demand of LNG and other alternative fuels for vessels remained strong, driving robust demand for LNG bunkering vessels and LNG marine fuel tanks. The Group’s offshore clean energy business achieved cumulative new orders exceeding RMB 10 billion in 2025, with the backlog orders exceeding RMB 19 billion by the end of 2025. In 2025, the Group signed a total of 24 new shipbuilding orders, including 7 LNG bunkering vessels and 2+2 of the world’s largest 51,000m3 LPG/liquid ammonia carriers with overseas shipowners in Europe and Singapore. The Group’s shipyard production efficiency has also been further improved, with 16 vessels delivered during the year. With the increase in global orders for LNG-powered vessels, the demand for Type-C fuel tanks and fuel gas supply systems (FGSS) has been released simultaneously, and the Group was further expanding its capacity for vessel and marine fuel tank construction. In addition, during the Year, the Group acquired Youqi Environmental Engineering (Shanghai) Co., Ltd., significantly enhancing its capabilities in the process design and construction of gas supply systems and liquid cargo systems and further strengthening the Group’s core competitiveness in the field of liquefied gas vessels.
For the hydrogen energy business, the Group continued to expand its layout and development in the hydrogen energy industry and made continuous improvement to its capability of integrated solutions. In terms of hydrogen production, leveraging the Angang project, the Group has successfully replicated and implemented its comprehensive coke oven gas utilization business model. Currently, the Group has five projects on hand, with the second, Linggang project, officially commencing production during the Year, and the third, Shougang Shuigang project, progressing smoothly under construction. The Group also successfully signed the second phase of the Linggang project and its first overseas project. In the storage and transportation business, high-pressure hydrogen storage and transportation equipment continued to lead the industry. The Group’s second-generation 30MPa high-pressure hydrogen tubular container has been shipped in batches, driving continuous cost reduction and efficiency improvement in hydrogen storage and transportation. Regarding medium-pressure ammonia-hydrogen spherical tanks, the Group delivered a complete set of hydrogen storage equipment to China Energy Engineering Corporation’s “HyFlow (青氫一號)” Songyuan Project—the world’s largest integrated green hydrogen, ammonia and methanol project—comprising 15 hydrogen spherical tanks and 8 sets of compressor buffer tanks in 2025. In the area of liquid hydrogen storage and transportation, the Group delivered the first domestic liquid hydrogen spherical tank for key national projects, which successfully passed expert review and acceptance, contributing to the successful demonstration of the first domestic civilian liquid hydrogen full-industry chain project. In terms of end-user applications, the liquid hydrogen vehicle-mounted cylinder has completed performance tests and has been selected for the list of “Three Firsts and Two New” technology products certified in Jiangsu Province in 2025. The Type-IV high-pressure vehicle-mounted hydrogen storage cylinder manufactured by the joint venture CIMC Hexagon has successfully passed the Transportable Pressure Equipment Directive (TPED) certification, and more than 800 cylinders have been exported to Europe, the Middle East and other regions this year. In terms of on-board hydrogen supply systems, a total of over 700 on-board hydrogen supply systems have been provided for the Greater Bay Area hydrogen energy demonstration city cluster by 2025. Regarding hydrogen refueling stations, the Group won bids for multiple key projects such as the CRRC Changchun Railway Vehicles and the Qingyang Jinrui new energy integrated energy service station.
Looking ahead, 2026 marks the first year of China's "15th Five-Year Plan". The national development planning outline proposes to further carry out a series of "green substitution" initiatives, such as energy conservation and carbon reduction in traditional industries, clean substitution of coal consumption, and the construction of zero-carbon industrial parks and zero-carbon transport corridors, to enhance the capability to address global climate change. During this process, the core strategic position of clean energy will be further highlighted, and its industrial system and market maturity are expected to achieve an overall leap, becoming an important pillar of high-quality development. As the only integrated services provider in China with a full industrial chain layout focusing on clean energy, the Company will continue to benefit from its related business operations.
In the Chemical and Environmental segment, in 2025, the global chemical sector gradually shifted its operations toward Asia and the Middle East, and energy prices in Europe remained high and volatile. By the end of December 2025, the China Chemical Product Price Index had fallen from 4,307 at the end of 2024 to 3,930, representing a decline of approximately 8.75%. Due to multifaceted factors, demand for the global tank container market declined from its highs in the previous year. Nevertheless, relying on its strong manufacturing capabilities and global service network, its market share in the tank container business remained firmly at the top globally. The segment consistently adheres to a business development strategy centered on “Manufacturing + Service + Intelligence”. Professional aftermarket services such as tank container cleaning, maintenance, periodic inspections, and storage have achieved steady growth. In December 2025, the segment established CIMC Seawise Tank Container Service (Nanjing) Co., Ltd., which has further enhanced its aftermarket service capabilities.
For the medical field, leveraging outstanding product performance and forward-thinking collaborative R&D capabilities, the segment has steadily enhanced its capabilities in developing and manufacturing key components for high-end medical imaging equipment. In 2025, the segment’s high-end medical MRI business kept pace with technological advancements led by industry leaders, achieving synchronized growth with the sector and maintaining a sustained upward trajectory in performance. Additionally, the segment collaborated with the China Container Industry Association to actively promote the application of tank containers in the multimodal transport market, advancing the green and low-carbon transformation of the economy and society, and driving China’s evolution from a “manufacturing powerhouse” to an “intelligent manufacturing powerhouse” with new productive forces.
In the Liquid Food segment, the 2025 performance was constrained by a challenging operating environment. Some overseas clients adopted a more cautious investment strategy, which posed certain challenges to the company’s overseas business, and order intake progress lagged behind expectations. Throughout 2025, despite the challenging environment, the segment delivered a range of milestone projects across multiple industries and geographies. Key activities included the successful execution of turnkey brewery projects in Mexico, Brazil, and Cambodia, alongside turnkey tequila distillery projects in Mexico. The segment also completed solid-state fermentation projects in China and successfully won the bid for the key project of intelligent upgrading of China’s Baijiu industry. Overall, the segment will adhere to a diversification strategy, reflecting its positioning in industries experiencing rapid structural growth.
Looking ahead, Chairman Mr. Gao Xiang stated, ‘The Group will continue to deepen its strategic transformation towards a “technology-based, integrated energy service provider of low-carbon solutions”. We will accelerate the large-scale replication of upstream resource projects such as the joint production of hydrogen and LNG from coke oven gas and biomass green methanol, constructing a clean energy full industrial chain ecosystem of “equipment + core processes + operations”. In the chemical and environmental segment, relying on ‘Intelligent Transformation and Digital Transition’, we will comprehensively enhance the full life-cycle service capabilities for tank containers. Leveraging our technological accumulation in pressure vessels, we will deeply cultivate frontier equipment tracks such as high-end medical imaging and controllable nuclear fusion to build a high-barrier technology platform. Meanwhile, anchoring the strategy of the liquid food segment in diversification and digitalization, and building upon our solid advantages in turnkey brewery projects, we will continuously penetrate high-growth fields including spirits, biopharmaceuticals, and soft drinks. By optimizing our operational structure and global delivery network, we will drive the overall business back onto a more balanced and resilient growth trajectory.’
