Core Viewpoint - Citigroup has raised the profit forecasts for CIMC Enric (03899) for 2026 and 2027 by 1% and 2% respectively, reflecting an increase in clean energy revenue projections, with the target price raised from HKD 9.5 to HKD 12.5, maintaining a "Buy" rating [1] Group 1: Financial Projections - The management of CIMC Enric indicated that due to strong demand for liquefied natural gas (LNG) bunkering vessels, new offshore clean energy orders and backlog for 2025 are expected to reach RMB 10 billion and RMB 22 billion respectively [1] - It is anticipated that offshore clean energy revenue will increase by at least RMB 1 billion in 2026, with net profit margins improving by 1 to 2 percentage points [1] Group 2: Business Segments - The aerospace business revenue and orders for 2025 are projected to exceed RMB 100 million, with expectations for strong growth in 2026 driven by demand for low Earth orbit satellites and reusable rockets, as well as supportive national policies [1] - The chemical business has shown positive year-on-year growth in orders for Q4 2025, indicating a potential turning point after three consecutive years of revenue decline [1]

花旗发表研究报告指，中集安瑞科管理层透露，受强劲液化天然气(LNG)加注船需求推动，2025年离岸 清洁能源新订单及未完成订单分别达100亿及220亿元，预计2026年离岸清洁能源收入将增加至少10亿 元，同时净利润率将改善1至2个百分点。另外，管理层指2025年航天业务的收入及订单合计刚刚超过1 亿元，但预期2026年将强劲增长，由低地球轨道卫星和可重复使用火箭需求，以及国家政策推动。该行 将2026及27年盈利预测分别上调1%及2%，以反映清洁能源收入预测获上调；目标价由9.5港元升至12.5 港元，维持"买入"评级。 ...