HK Stock Market Move | CIMC ENRIC (03899) rises more than 3%, plans to cooperate with Hainan Power, China Datang Corporation and other parties to implement a green methanol project in Danzhou, Hainan.

CIMC ENRIC (03899) rose by more than 3%, as of the press release, it rose by 2.41% to HK$8.49, with a turnover of HK$6.117 million. On the news front, on December 22nd, according to CIMC ENRIC's official WeChat account, CIMC ENRIC's subsidiary, CIMC Enric Zhongji Green Energy, and strategic partner, China Datang Corporation's offshore wind power business, signed a memorandum of cooperation with the Yangpu Management Committee of Danzhou Municipal Government at the Hainan Offshore Wind Power Industry Chain Conference. The three parties plan to collaborate on a green energy consumption project in the Yangpu Economic Development Zone in Hainan, jointly developing a green methanol full industry chain cooperation project in Danzhou, Hainan. According to the agreement, with the support of the Yangpu Management Committee, CIMC ENRIC will work with Datang Hainan Company to research and implement a new energy consumption green methanol demonstration project in Danzhou, with a designed production capacity of 100-200,000 tons per year. In addition, the three parties will promote the industrial cooperation of green methanol in Hainan, covering production, certification, trade, and refueling, to explore the high-value utilization of biomass and supply chain construction. In addition, CIMC ENRIC's national first bio-methanol project in Zhanjiang, Guangdong, officially started production this month, with an annual production of 5 tons. The second phase, with an annual production of 200,000 tons, has signed an investment intention agreement with the local government this month. The company has a full chain solution for green methanol "from raw material to refueling" and has built the first green methanol supply chain ecosystem in South China.