[ET Net News Agency, 10 July 2018] CIMC Enric (03899) attended Nomura's China Energy
Corporate Day in Hong Kong on 5-6 July. The research house said the company is confident
on achieving the key vesting condition (43%-plus net profit CAGR from 2017-2020), by both
organic growth and M&A.
In organic growth, CIMC Enric expects earnings growth to be driven by LNG storage tanks
and LNG tank containers. The company also expects its collaboration with TGE Gas
Engineering will help gain market share in the storage tanks of LNG receiving terminals.
Nomura expects CIMC's order backlog revenue to remain unchanged at CNY10.7bn (CNY4.5bn,
CNY1.7bn, and CNY4.5bn for energy equipment, chemicals equipment and liquid food equipment
respectively).
It also expects CIMC Enric's revenue of energy equipment to grow 20-25% yoy in 1H,
driven by strong demand. Overall, GPM should improve slightly. Nomura maintained its "buy"
rating on CIMC Enric, with a target price of HK$11.2. (KL)
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03899 CIMC ENRIC
Nominal 
7.640 +0.010 (+0.131%) Others
10/07/2018 11:18
[I-bank focus]CIMC Enric's order backlog remains robust
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