Turnover jumped 88.0% to RMB3,067.9 million for H1' 2011
Profit attributable to Shareholders surged 118.8% to RMB252.4 million* * * * *

(Hong Kong, 19 August 2011) - CIMC Enric Holdings Limited ("CIMC Enric", or with its subsidiaries, the "Group") (Stock code: 03899.HK) is pleased to announce its interim results for the six months ended 30 June 2011.

Profit Attributable to Shareholders amounted to RMB252,425,000, representing a sharp increase of 118.8% over the first half of 2010 (corresponding period in 2010: RMB115,372,000). Basic and diluted earnings per share were both RMB0.135, more than doubled year-on-year (corresponding period in 2010: RMB0.062 and RMB0.061 respectively).

Mr. Zhao Qingsheng, the Chairman of CIMC Enric, said, "The demand for the storage and transportation equipment of natural gas, especially LNG, increased continuously as a result of the rapid growth of the natural gas industry in China. Tank containers for transportation of chemicals also saw surge in demand stimulated by the global economic recovery. Benefited from the growing demand, the Group achieved a significant growth in sales during the period."

Due to the continuous growth in global demand for equipment for the storage and transportation of natural gas and specialty gases, particularly in China, the energy equipment segment experienced a robust growth in the first half of 2011. With a recovering global economy, the demand for tank containers for transportation of chemicals rose sharply during the period and drove the chemical equipment segment's remarkable surge in turnover. Although, the business environment of liquid food equipment remained challenging, the segment posted an upswing in turnover due to an increase in order intakes. As a result, the turnover for the first half of 2011 increased by 88.0% to RMB3,067,870,000 over the same period of previous year (corresponding period in 2010: RMB1,632,199,000).

Energy equipment is the top grossing segment of the Group which accounted for 48.2% (corresponding period in 2010: 60.8%) of the overall turnover. The segment's turnover recorded a robust growth of 48.9% to RMB1,478,643,000 (corresponding period in 2010: RMB992,908,000) with LNG storage and transportation equipment being one of the main contributors to the segment's growth.

Chemical equipment segment is the star performer of the Group during the period with turnover surged significantly by 200.2% to RMB1,296,914,000 (corresponding period in 2010: RMB432,011,000) and contributed 42.3% (corresponding period in 2010: 26.5%) of the overall turnover, making it the second top grossing segment of the Group during the period.

Turnover of liquid food equipment segment was RMB292,313,000 (corresponding period in 2010: RMB207,280,000), representing a rise of 41.0% and accounted for 9.5% (corresponding period in 2010: 12.7%) of the overall turnover.

As expected, the Chinese government has tightened its monetary policies this year for controlling mounting inflationary pressure. At the same time, the economy of China has maintained a sustainable growth in the first half of 2011. Even though the global economic landscape for the rest of the year still faces uncertainties, the Group holds a prudently optimistic attitude on the outlook of the industry sectors the Group is engaged in. The Group will adhere to its cash flow planning and control measures, including tightening control of the operational cash flow and maintaining good relationship with commercial banks for securing sufficient fund for financing investment activities. Moreover, the Group has been enhancing its cost control measures. The Group will continue to use more domestic components for cost benefit and quality control will not be compromised.

As well, the Group has put great effort in enhancing its internal control regime for minimising risks as the Group understands that good corporate governance is one of the requisites for long-term corporate development. In the second half of the year, the Group will review its internal control systems continuously in accordance with its annual planning.

With the PRC government's plan to boost natural gas consumption and the significant investment in the natural gas industry, the Group's energy equipment segment remains focused on developing natural gas storage, transportation and distribution equipment business. Apart from enhancing its existing products and services, the Group will continue to develop new revenue sources, such as offering project engineering services and one-stop energy supply solutions for natural gas operators in China. In order to meet the rising demand for LNG equipment, the Group has been expanding the capacity of LNG equipment production facilities. In addition, the Group will endeavour to reinforce its market share of LNG equipment, such as LNG refueling station systems, natural gas liquefaction system and LNG trailers.

With its leading position in the tank container manufacturing business, the Group will endeavour to maintain competitive edges by enhancing the product quality and production capacity of tank containers, as the Group believes that there is a large room for development in its tank container business, and will gradually input resources to capture opportunities in light of the expanding market. The Group will adopt a proactive strategy to enlarge its market share of the tank container business and penetrate into more overseas markets. The Group has also been capitalising on business opportunity for special tank containers which can be tailor-made for the needs of different customers, enabling this to become a new income driver of the Group.

Mr. Zhao concluded, "Thanks for the trust of customers in the Group's products and services and the dedicated efforts of all staff, the Group has achieved a significant growth in the first half of the year. The Group is confident that its strategies and measures are well positioned to strive for satisfactory results and overcome new challenges."

Financial Highlights

CIMC Enric Holdings Limited

CIMC Enric is principally engaged in the design, development, manufacturing, engineering and sales of, and the provision of technical maintenance services for, a wide spectrum of transportation, storage and processing equipment that is widely used among the energy, chemical and liquid food industries.

Key products of each segment include: CNG seamless pressure cylinders, CNG and LNG trailers, LPG tank trucks and tanks and CNG, LNG and LCNG refueling station systems in the energy equipment segment; tank containers for chemical liquids, liquefied gas and cryogenic liquids in the chemical equipment segment and; stainless steel processing and storage tanks in the liquid food equipment segment. Project engineering services are also provided by the three segments