CIMC ENRIC (03899) rose nearly 4% in the morning session before the midday break. As of the time of writing, the stock was up 3.74%, trading at HKD 12.2 with a turnover of HKD 119 million.

On the news front, on February 4th, according to an announcement on CIMC ENRIC's official WeChat account, the company recently signed a joint venture agreement with Tsingshan Group and a coke oven gas supply agreement with Nanjing Iron & Steel Co., Ltd. (NISCO).

The agreements are part of a plan for CIMC ENRIC, Tsingshan Group, NISCO, and other partners to collaborate on a "Coke Oven Gas to LNG and Co-production of Methanol" project located within the Indonesia Morowali Industrial Park (IMIP) in Sulawesi Province, Indonesia, referred to as the "Indonesia Tsingshan Project."

The Indonesia Tsingshan Project is designed with an annual production capacity of 180,000 tonnes of blue LNG and 100,000 tonnes of blue methanol and will be controlled by CIMC ENRIC.

This initiative marks the first overseas replication of the company's steel-coke integration business model.

The Tsingshan Industrial Park already has an operational annual coke production capacity exceeding 10 million tonnes.

Through this multi-party collaboration, the partners aim to promote the clean conversion and efficient utilization of by-product resources like coke oven gas within the Tsingshan Industrial Park.

Leveraging downstream industrial advantages, the project seeks to achieve production capacity synergy and resource recycling, collectively building a green, low-carbon industrial closed loop covering "resources-processing-application" to support the region's transition towards synergistic economic and environmental benefits.