CIMC ENRIC(HK:03899) Ge Long Hui·2025-12-09 20:53Core 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]