UBS Raises Price Target for CIMC ENRIC to HK$15, Keeps "Buy" Rating

Stock News
Mar 26

UBS has issued a research report adjusting its price target for CIMC ENRIC (03899) from HK$14.7 to HK$15, while maintaining a "Buy" rating. The revision takes into account the company's projected performance for 2025. CIMC ENRIC is expected to report revenue of RMB 26.3 billion for 2025, representing a 6% year-on-year increase, with net profit reaching RMB 1.135 billion, up 4% compared to the previous year. Revenue from the clean energy business grew by 20% to RMB 20.6 billion, serving as the primary growth driver. The gross profit margin saw a slight improvement, rising from 12.6% in 2024 to 12.7%. The offshore clean energy segment achieved a record high revenue of RMB 6.4 billion, marking a 38% year-on-year increase, while revenue from the hydrogen energy business reached RMB 720 million.

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