CIMC Enric (3899) investor relations material

Executive summary

• Revenue increased by 9.9% year-over-year to RMB12.61 billion for the first half of 2025, driven by strong 22.2% growth in the clean energy segment, which now comprises 76.3% of total revenue and offset declines in other segments.

• Net profit attributable to shareholders rose 15.6% year-over-year to RMB562 million, with basic EPS up 15.4% to RMB0.278 per share.

• Backlog orders remained robust at RMB29.18 billion, with clean energy backlog up 10% YoY and offshore clean energy backlog up 12.7% YoY.

• Gross profit margin improved to 14.5% from 14.3% year-over-year, mainly due to clean energy and liquid food segments.

Financial highlights

• Net asset value per share increased to RMB6.54, and annualized ROE improved by 1pp to 9.7% YoY.

• EBITDA increased by 8.4% to RMB991 million; operating profit margin remained stable at 5.9%.

• Cash and cash equivalents rose 7.1% to RMB7.78 billion; net cash balance increased to RMB4.82 billion.

• Debt-to-asset ratio stood at 55.4%, and gearing ratio improved to 22.3% as of June 30, 2025.

• Cash conversion cycle optimized by 11 days YoY to 25 days; inventory turnover and accounts receivable turnover days also improved.

Outlook and guidance

• Clean energy demand, especially LNG, is expected to grow, supported by global energy transition, favorable policies, and new IMO net-zero regulations.

• Hydrogen energy business positioned for growth amid national policy support and increased project activity.

• Liquid food segment to focus on diversification and digitalization to mitigate global market headwinds.