CIMC Enric (03899) released its Interim Report 2026, highlighting modest top-line growth but lower profitability.

Revenue and Margins • Group revenue grew 2.00 % year on year to RMB 12.87 billion, driven mainly by an 8.2 % increase in clean-energy sales to RMB 10.42 billion. • Gross profit edged up 0.32 % to RMB 1.83 billion, but the gross profit margin slipped 0.3 percentage point to 14.2 %. • EBITDA fell 4.10 % to RMB 950.98 million, while operating profit margin narrowed to 5.0 % from 5.9 %. • Profit attributable to equity shareholders declined 8.10 % to RMB 516.53 million; basic EPS dropped to RMB 0.246 from RMB 0.278.

Segment Performance • Clean Energy contributed 81 % of total revenue, buoyed by strong LNG trailer demand and offshore clean-energy deliveries. • Chemical & Environmental revenue rose 16.0 % to RMB 1.29 billion amid recovering tank-container demand. • Liquid Food revenue fell 38.3 % to RMB 1.16 billion due to a low opening order book.

Order Book and Operations • New orders increased 27.7 % to RMB 13.71 billion, lifting backlog orders 8.9 % to RMB 31.77 billion as of 30 June 2026. • The offshore clean-energy unit secured RMB 4.54 billion in new shipbuilding orders, scheduling deliveries through 2029. • Integrated steel-coke projects and the Zhanjiang green-methanol plant contributed to expanding integrated-services revenue.

Balance Sheet and Cash Flow • Total assets reached RMB 32.81 billion, up 1.9 % from end-2025; net assets rose 4.0 % to RMB 14.33 billion. • Net cash stood at RMB 3.74 billion despite a 2.0 % dip in cash and cash equivalents to RMB 7.60 billion. • Net operating cash outflow amounted to RMB 247.13 million versus an inflow of RMB 47.14 million a year earlier. • Gearing ratio increased to 27.0 % from 25.4%.

Capital Moves • In January 2026, CIMC Enric placed 79.7 million new shares at HKD 9.79 each, raising net proceeds of approximately HKD 774 million (USD 99 million). • In July 2026, the company issued RMB 1.00 billion of perpetual notes at a 1.93 % coupon to bolster working capital.

Outlook Management expects LNG, hydrogen, ammonia and methanol projects, along with tank-container recovery and overseas expansion, to underpin growth. R&D will target hydrogen production BOP modules, liquid-ammonia fuel tanks and other high-end equipment while integrated services such as green-methanol and steel-coke projects are positioned as new earnings drivers.