CIMC ENRIC (03899) saw its shares surge over 7% at one point during the trading session. As of the time of writing, the stock was up 4.83%, trading at HKD 11.28, with a turnover of HKD 159 million. Catalysts for the move include a research note from Zhongtai International, which highlighted recent breakthroughs in several of the company's innovative business segments. These include the commencement of operations for Phase 1 of the Zhanjiang green methanol project in Guangdong; projected revenue and total orders on hand for aerospace storage equipment exceeding RMB 100 million by 2025; and investments in nuclear fusion energy. The institution believes that while the short-term profit contribution from these related businesses is expected to be modest, they are poised to fuel the company's medium to long-term growth and support a higher valuation. Zhongtai International has temporarily maintained its forecasts for shareholder net profit for FY25-27 but does not rule out the possibility of upward revisions following future financial results or related announcements. After comparing the valuations of energy equipment peers involved in innovative businesses, the institution raised its target price for the company from HKD 8.60 to HKD 12.34. This new target implies a P/E ratio of 16.5x for FY26 and represents a potential upside of 13.5%. The "Add" rating was reaffirmed.