CIMC ENRIC(HK:03899) Zhi Tong Cai Jing·2025-10-28 09:00Core Insights - The company reported a revenue of 19.348 billion yuan for the first three quarters of 2025, a year-on-year increase of 7.7%, with a net profit of 794 million yuan, up 12.2% [1] - In Q3 2025, the company achieved a revenue of 6.734 billion yuan, reflecting a 3.8% increase year-on-year, and a net profit of 213 million yuan, which is a 4.3% increase [1] Group 1: Clean Energy Business Performance - The clean energy segment saw a revenue growth of 14.6% to approximately 5.412 billion yuan in Q3 2025, driven by the recovery of domestic natural gas consumption and strong growth in offshore clean energy [2] - The clean energy division accounted for 80.4% of the company's total revenue in Q3 2025, up from 72.8% in the same period of 2024 [2] - The profitability of the clean energy segment significantly increased due to contributions from offshore clean energy business, hydrogen production from coke oven gas, and bulk deliveries of high-end low-temperature tanks [2] Group 2: Shipbuilding and Orders - The company delivered 5 vessels in Q3 2025, with revenue from offshore clean energy business soaring by 51.7% to approximately 1.747 billion yuan [3] - The company secured significant new orders despite market fluctuations due to U.S. Section 301 investigations, including contracts for LNG bunkering vessels and ammonia-fueled ships [3] - As of September 30, 2025, the company had new orders worth approximately 8.646 billion yuan for offshore clean energy, a 16.2% increase year-on-year, with a backlog of orders reaching a historical high of approximately 19.953 billion yuan [4]