Hong-Kong-listed CIMC Enric (03899) reported unaudited operating data for the three months ended 31 March 2026, revealing mixed performance across its core businesses.
Overall Performance • Group revenue fell 10.8% year on year to RMB 5.14 billion, largely due to deliberate scaling-back of the natural-gas trading business and softer contributions from the Chemical & Environmental and Liquid Food segments. • Domestic sales contributed 57.2% of revenue, while overseas markets accounted for 42.8% (Q1 2025: 54.5% and 45.5% respectively).
Order Momentum • Newly signed orders surged 36.7% to RMB 6.24 billion, supported by strong demand in clean energy solutions and tank containers. • Order backlog expanded 11.0% to RMB 31.43 billion as at 31 March 2026, securing future workload across all key lines.
Segment Highlights 1. Clean Energy (82.2% of revenue) – Revenue edged down 2.6% to RMB 4.23 billion, as increased LNG production and equipment sales largely offset reduced trading volume. – Newly signed orders climbed 30.5% to RMB 5.03 billion; backlog rose 15.5% to RMB 27.71 billion. – Offshore business remained a growth engine, with offshore clean-energy orders up 45.6% to RMB 2.11 billion and backlog at RMB 19.80 billion (+19.4%). – Commercial aerospace equipment orders reached RMB 109 million (+122.2%); revenue from this niche doubled to RMB 40 million. – Overseas onshore clean-energy orders increased 19.7% to RMB 633 million, reflecting expanding international footprint.
2. Chemical & Environmental (9.3% of revenue) – Revenue declined 15.6% to RMB 481 million, amid delivery-timing pressures. – New orders soared 120.2% to RMB 979 million; backlog more than doubled to RMB 1.73 billion, driven by robust tank-container demand and high-end medical components.
3. Liquid Food (8.5% of revenue) – Revenue halved to RMB 435 million, reflecting a lighter project pipeline and customer-requested delivery delays. – New orders slipped 12.2% to RMB 232 million in the quarter; however, awards through 24 April 2026 totalled RMB 1.17 billion, up 203.9% year on year, supported by brewery and baijiu upgrade projects.
Strategic Developments • The group advanced integrated natural-gas and green-methanol projects, secured feasibility studies for green methanol and SAF, and signed a strategic cooperation agreement with PT SAMATOR to expand gas solutions in Southeast Asia. • Subsidiary Nantong CIMC Energy Equipment earned national “Green Factory” status for progress in energy efficiency and sustainability.
The operational data have not been audited or reviewed by external auditors. Shareholders and potential investors are advised to exercise caution when dealing in CIMC Enric shares.