格隆汇12月10日丨中集安瑞科(03899.HK)公告，12月10日耗资80.1万港元回购10万股。 ...

Group 1 - The company CIMC Enric (03899) announced a share buyback plan, intending to repurchase 100,000 shares at a cost of approximately HKD 801,100 [1]

智通财经APP讯，中集安瑞科(03899)公布，2025年12月10日耗资约80.11万港元回购10万股股份。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中集安瑞科控股有限公司 呈交日期： 2025年12月10日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 03899 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | ...

Summary of CIMC Enric's Conference Call Company Overview - CIMC Enric has transformed from an equipment manufacturer to a comprehensive service provider, offering integrated solutions including design and construction, which has improved operational efficiency to 10%-15%, significantly higher than traditional equipment manufacturing [2][4]. Revenue and Profitability - The clean energy segment accounts for the highest revenue share at 77.7%, while the liquid food segment has the highest gross margin. The overall gross margin fluctuates between 15%-20%, with a net margin of approximately 5%-6% [2][5]. Market Trends - Global natural gas consumption growth is slowing but remains higher than traditional energy sources. The release of significant LNG capacity is expected to drive trade growth, with natural gas prices projected to stabilize around $8 from 2025 to 2030, stimulating demand in transportation and power generation [2][7]. - Domestic natural gas consumption is currently negative, but the transportation sector shows stable growth. CIMC Enric is actively involved in oil-to-gas conversion projects in inland shipping to align with global clean energy trends [2][8]. Order and Business Outlook - There is a significant increase in LNG transport vessel orders, with many mainstream shipyards booked until 2027-2028. New orders signed in the first three quarters have increased fivefold year-on-year, including multiple MEG refueling vessels and ammonia fuel-powered ships [2][9]. - The company has established a comprehensive solution in the water clean energy sector, with orders exceeding annual targets for 2025, indicating strong market demand and growth potential [2][10]. Sector-Specific Developments - In the hydrogen energy sector, CIMC Enric is a pioneer with a full range of liquid hydrogen storage and transportation capabilities. Despite slower-than-expected growth in 2025, there is potential for future growth due to increased policy support [2][11]. - The company has early investments in green methanol, with a 50,000-ton project set to launch in Zhanjiang in 2025 and a 200,000-ton project planned for 2027, which is expected to generate significant profits [2][12]. - The coke oven gas business is emerging as a key growth area, with projects already operational and high profit margins, contributing to the company's future growth [2][13]. - The chemical environment segment faces challenges due to a global chemical cycle downturn, but is expected to recover as the global economy improves [2][14]. - The liquid food segment, primarily focused on beer and non-alcoholic beverages, is optimistic about future growth, especially with international market demand [2][15]. Overall Performance Expectations - CIMC Enric anticipates a profit growth of approximately 15% year-on-year in 2025, with revenue growth maintaining a double-digit rate. The company plans to maintain a dividend payout ratio of about 50%, which may increase with new project launches [2][16].

Core Insights - The company reported a year-on-year increase of 6.2% in net profit attributable to shareholders for Q3 2025, with total revenue reaching 19.348 billion yuan, a 7.7% increase [1] - The clean energy segment continues to be the largest contributor to revenue, accounting for 80.4% of total revenue in Q3 2025, up from 72.8% in Q3 2024 [2] Financial Performance - For the first three quarters of 2025, the company achieved revenue of 19.348 billion yuan, a 7.7% increase year-on-year, and a net profit of 767 million yuan, a 12.9% increase [1] - In Q3 2025, the company reported revenue of 6.734 billion yuan, a 3.8% increase year-on-year, and a net profit of 204 million yuan, a 6.2% increase [1] - The clean energy segment generated revenue of 15.037 billion yuan in the first three quarters of 2025, a 19.4% increase, while the chemical environment segment saw a revenue decline of 28.2% [1] Order Book and Backlog - The company signed new orders totaling 19.641 billion yuan in the first three quarters of 2025, a 5% decrease year-on-year, with the clean energy segment contributing 16.992 billion yuan, a 5% increase [2] - The total backlog of orders reached 30.763 billion yuan, an 11% increase year-on-year, with the clean energy segment's backlog growing by 24% to 27.340 billion yuan [2] Strategic Initiatives - The company plans to repurchase up to 1.5% of its issued shares, not exceeding 30,438,213 shares, for a total amount of up to 200 million HKD, to enhance shareholder value and market confidence [3] - The company will maintain a dividend payout ratio of approximately 50% for the year ending December 31, 2024, with a proposed dividend of 0.30 HKD per share [3] Profit Forecast - The company forecasts net profits attributable to shareholders of 1.254 billion yuan, 1.475 billion yuan, and 1.727 billion yuan for 2025, 2026, and 2027 respectively, with a target price of 9.19 HKD based on a PE ratio of 11.5 for 2026 [3]

公司名稱: 中集安瑞科控股有限公司 呈交日期: 2025年12月4日 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03899 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 ...

Summary of CIMC Enric's Conference Call Company Overview - **Company**: CIMC Enric - **Industry**: Clean Energy, Chemical Environment, Liquid Food Key Financial Metrics - **Revenue**: RMB 19.35 billion for the first three quarters of 2025, a year-on-year increase of 7.7% [2][3] - **Net Profit**: RMB 767 million, up 12.9% year-on-year, driven by the clean energy sector and accelerated ship deliveries [2][4] - **Clean Energy Contribution**: 77.7% of total revenue, with a clean energy segment revenue of nearly RMB 15 billion, a 19.4% increase [2][5] Business Segment Performance Clean Energy - **Waterborne Clean Energy Revenue**: RMB 4.8 billion, over 60% growth year-on-year, with 14 ships delivered in the first three quarters [2][5] - **Future Projections**: Expected to deliver 18 ships in total for the year, contributing over RMB 6 billion in revenue [2][5] - **Order Backlog**: Close to RMB 20 billion in clean energy orders as of September 2025, providing strong future performance support [6] Chemical Environment - **Revenue**: RMB 1.57 billion, facing challenges due to macroeconomic conditions, but new high-end medical equipment orders are increasing [2][5] Liquid Food - **Revenue**: RMB 2.74 billion, a decline of 13% year-on-year, but stable in Q3 with new orders around RMB 1 billion [2][5] Strategic Initiatives - **Expansion into Emerging Fields**: Plans to expand into green methanol and hydrogen sectors, with a green methanol production line expected to start in Q4 2025 [2][11] - **Strategic Partnerships**: Collaborations with China Merchants Energy and Sinopec to promote green methanol bunkering in Hong Kong [14] Market Outlook - **LNG Market**: Anticipated strong growth in LNG consumption in China, projected to increase by over 20% in 2026 [8] - **Shipbuilding Orders**: Current shipbuilding orders extend to 2028, with expected revenue from waterborne new energy business of no less than RMB 6 billion in 2025 [7] Management Confidence - **Share Buyback Plan**: The board approved a share buyback plan not exceeding HKD 200 million, reflecting confidence in the company's intrinsic value [13][17] - **Dividend Policy**: Maintains a dividend payout ratio of 50%, with plans to increase dividends as projects stabilize [18] Challenges and Risks - **Impact of IMO Regulations**: Delays in IMO regulations may slow short-term progress, but the long-term trend towards green transformation remains intact [15] Conclusion CIMC Enric demonstrates robust growth in its clean energy segment, with strategic expansions and partnerships positioning it well for future opportunities in emerging energy markets. The management's confidence is reflected in their financial strategies and commitment to maintaining shareholder returns.

Group 1: LNG Shipping Market Overview - The daily rental rate for LNG vessels from the US to Europe increased by approximately 12% to $130,750, the highest since December 2023 [1] - The spot charter rate for LNG vessels from the US to Europe rose by 19% to $98,250 per day, marking the highest level since January 2024 [1] - The surge in LNG shipping rates is attributed to record LNG export volumes from North America, which have strained shipping capacity [1] Group 2: North American LNG Exports - The 30-day moving average of North American LNG exports reached a record high, with a year-on-year increase of about 50% [1] - The increase in shipping rates has reversed the previously low market conditions caused by an oversupply of vessels throughout most of the year [1] - Since early October, the demand for more vessels has risen due to increased production capacity from new North American projects [1] Group 3: Future Outlook and Buyer Behavior - There appears to be further upward potential for shipping rates, with reports of a vessel being chartered for over $150,000 per day for a December sailing [1] - The rapid increase in shipping rates has led some LNG buyers to consider delaying their loading in the Atlantic basin [1] - The daily rental rates for Pacific route LNG vessels have also reached a new high in over a year [1] Group 4: Company-Specific Developments - COSCO Shipping Energy (中远海能) has a diversified business structure, with LNG transportation contributing a net profit of 674 million yuan in the first three quarters of 2025, showing stable performance [2] - CIMC Enric (中集安瑞科) has signed contracts for LNG vessels and is focusing on the development of clean fuel vessels, including LNG and methanol [2] - Guoyin Financial Leasing (国银金租) has established financing leasing contracts for four LNG vessels in 2024 [3]

Core Viewpoint - 中集安瑞科 announced a share buyback plan to enhance shareholder value and market confidence, reflecting strong belief in the company's future prospects and intrinsic value [1] Group 1: Share Buyback Announcement - 中集安瑞科 plans to repurchase up to 1.5% of its total issued shares, amounting to no more than 30.4382 million shares, with a total expenditure not exceeding 200 million HKD [1] - The buyback is aimed at safeguarding the rights of all shareholders and reinforcing market confidence in the company [1] Group 2: Financial Performance - 中集安瑞科 reported a significant increase in new orders for Q3 2025, with a year-on-year growth of 104.1% to 8.91 billion RMB [1] - The clean energy segment saw a remarkable increase of 147.7% year-on-year, reaching 8.03 billion RMB [1] Group 3: Industry Trends - The global development of green methanol fuel vessels is accelerating, with 75 vessels already in operation as of September 2025, and projected methanol fuel demand exceeding 2 million tons per year [1] - 中集安瑞科's first phase of green methanol production, with an annual capacity of 50,000 tons, is expected to commence production in Q4 of this year [1]