HK Stock Market Move | CIMC ENRIC (03899) rose more than 3% to a record high. The company covers the entire industry chain of green methanol production, storage, and transportation.

CIMC ENRIC (03899) rose more than 3%, reaching a high of HK$13.31 to refresh its new high. As of the time of writing, it rose by 3.21%, trading at HK$13.19, with a turnover of HK$101 million. On the news front, conflicts in the Middle East may affect methanol imports. Shenwan Hongyuan Group believes that the US-Iran conflict may push up prices of methanol. Iran is the world's second largest methanol producer, accounting for about 9% of global capacity, and 60% of China's methanol imports come from Iran. Tianfeng previously pointed out that CIMC ENRIC covers the entire industry chain of green methanol production, storage, and transportation, with the first green methanol supply chain ecosystem in South China already built. In terms of key equipment: the company owns equipment such as methanol storage tanks and methanol transport vehicles; in terms of core technology: it has the ability to build methanol transport and refueling ships, as well as rich experience in building green hydrogen ammonia alcohol projects and integrated solutions capabilities, etc.