CIMC ENRIC Shares Surge Over 6% on Strong Q1 Clean Energy Order Growth

Stock News04-28

CIMC ENRIC (03899) saw its shares rise more than 6% in the afternoon session. At the time of writing, the stock was up 6.5%, trading at HK$10.65 with a turnover of HK$60.83 million. The company announced that its clean energy segment secured new orders worth RMB 5.032 billion in the first quarter, representing a year-on-year increase of 30.5%. This growth was driven by continued global shipping green transformation, leading to robust demand for LNG transport and bunkering vessels as well as fuel tanks. New orders for waterborne clean energy business reached RMB 2.109 billion, a significant increase of 45.6% compared to the same period last year. As of the end of March, the group's total order backlog stood at RMB 31.433 billion. The clean energy segment's order backlog was RMB 27.706 billion, up 15.5% year-on-year. Within this segment, the waterborne clean energy business backlog was RMB 19.799 billion, an increase of 19.4%. The commercial aerospace-related business backlog reached RMB 142 million, growing 123.6%, while the hydrogen energy business backlog was RMB 272 million. The chemical environment segment's order backlog was RMB 1.727 billion, surging 118.3% compared to the previous year.

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