HK Stock Market Move | CIMC ENRIC (03899) rose more than 4%. JP Morgan expressed positive expectations for the Indonesian coke oven gas project. The company's overseas expansion is moving towards the implementation phase.

CIMC ENRIC (03899) rose more than 4%, as of press time, up 4.48% to HK$12.37, with a turnover of HK$41.22 million. On the news front, recently, CIMC ENRIC plans to sign a cooperation agreement with multiple parties on the Indonesian Mount Qing project. JP Morgan believes that CIMC ENRIC has announced its first overseas coking gas project in Indonesia. The bank estimates that if the project reaches its maximum capacity, it could contribute about 70 million yuan in profit to the company, accounting for 6% of the forecasted net profit for the 2025 fiscal year. The bank expects that further progress in the project will further boost market sentiment towards the company, as the project reflects the company's overseas expansion in new business initiatives moving from vision to actual execution stage. JP Morgan also points out that this project is CIMC ENRIC's fifth coking gas project, further solidifying its professional position in the field. At the same time, this development alleviates investors' concerns about the company's slowing net profit growth. Since the company's three new businesses are project-based, the successful implementation of each project will provide a stable source of income for the company, enhancing its long-term sustainable growth visibility. The bank is optimistic about CIMC ENRIC's Indonesian project, believing that it will bring significant benefits to the company both financially and strategically.