CIMC ENRIC (03899) announced that for the first three quarters of 2025, the group achieved revenue of RMB19.348 billion, a 7.7% year-on-year increase. Net profit rose 12.2% YoY to RMB794 million, while net profit attributable to shareholders grew 12.9% YoY to RMB767 million.
In Q3 2025, the group recorded revenue of RMB6.734 billion, up 3.8% YoY, with net profit increasing 4.3% YoY to RMB213 million. Net profit attributable to shareholders climbed 6.2% YoY to RMB204 million.
The growth was primarily driven by the group's clean energy business. Q3 clean energy revenue rose 14.6% YoY to approximately RMB5.412 billion (Q3 2024: ~RMB4.723 billion), accounting for 80.4% of total revenue (Q3 2024: 72.8%). Key products included liquefied gas carriers, liquid tanks, LNG vehicle cylinders, spherical tanks, and cryogenic industrial gas tanks.
The clean energy segment's profitability improved significantly due to contributions from marine clean energy projects, incremental profits from coke oven gas-to-hydrogen/LNG projects, and batch deliveries of high-end overseas cryogenic tank containers.
In Q3, the group delivered five vessels, with marine clean energy revenue surging 51.7% YoY to ~RMB1.747 billion (Q3 2024: ~RMB1.152 billion). Cumulatively, 14 vessels were delivered by September 30, 2025.
Despite market volatility from U.S. Section 301 investigations, the group secured major orders in Q3, including: - Two 18,900-cbm LNG bunkering vessels for Singapore-based Purus - Two firm + two optional 20,000-cbm LNG bunkering vessels for GSX Energy (supporting Shell’s global LNG bunkering expansion) - Two firm + two optional 51,000-cbm ammonia-fueled MGC vessels for a Norwegian shipowner (the world’s largest ammonia-powered vessels)
As of September 30, 2025, new marine clean energy orders totaled ~RMB8.646 billion (9M 2024: ~RMB7.439 billion), up 16.2% YoY. The order backlog reached a record high of ~RMB19.953 billion (9M 2024: ~RMB14.301 billion), a 39.5% YoY increase, with shipbuilding orders scheduled through 2028.
Long-term growth will be supported by LNG bunkering vessels, marine fuel tanks, cargo holds, and gas supply systems as global shipping transitions toward greener solutions.