On April 24, CIMC Enric (03899.HK) announced that in the first quarter of 2024, the Group's Clean Energy Division benefited from increased natural gas consumption, stable LNG prices and further widening oil and gas price spreads, strong demand in the shipping industry, and frequent favorable policies for hydrogen energy. The division's performance achieved strong growth. At the same time, the Group's Chemical Environment Division and the Liquid Food Division were respectively affected by the slowdown in demand in the chemical tank market and the progress of successful handbrewing projects, and revenue declined year-on-year. In the first quarter of 2024, the Group's revenue fell slightly by 6.8% year on year to RMB 4.635 billion. Revenue from domestic and overseas markets accounted for 51.5% and 48.5% of the Group's overall revenue, respectively (same period in 2023:45.6% and 54.4%). Among them, the Clean Energy Division, the Chemical Environment Division, and the Liquid Food Division accounted for 31.6%, 79.9%, and 94.1% of their segment revenue respectively during the period (overseas regions accounted for 23.4%, 91.4% and 90.1% of the revenue for the same period in 2023, respectively).

Among them, in the first quarter of 2024, the revenue of the clean energy segment increased 21.2% year on year to RMB 3.255 billion, of which hydrogen energy business revenue was approximately RMB 169 million, a significant increase of 74.2% year on year. The Clean Energy Division was the business segment with the highest revenue share of the Group, accounting for 70.2% of the Group's overall revenue during the period (same period in 2023:54.0%). The strong growth in clean energy revenues has mainly benefited from strong growth in domestic natural gas consumption, continued boom in the shipping industry, stable LNG prices and widening oil and gas price spreads driving terminal applications, and the rapid development of the hydrogen energy industry.