CM Energy Holds 2025 Mid-Year Work Conference

To systematically summarize the operational achievements in the first half of 2025 and scientifically plan for improvement in the second half of the year, CM Energy held a mid-year business analysis meeting in Qingdao on June 26. The company's management team, functional departments at the headquarters, and team members from various subsidiaries attended the meeting.

The meeting conducted a systematic review of the first half of the year from multiple dimensions, including the company's overall operational situation, the business results of subsidiaries, bottlenecks in strategic implementation, and future development paths. Each subsidiary presented in-depth analysis and reports on budget fulfillment, the implementation of key tasks, responses to internal and external challenges, and subsequent work plans.

The meeting pointed out that in the first half of 2025, despite facing the dual challenges of transformation, upgrading, and leapfrog development, the company's management team withstood the pressure and achieved positive progress in both new and existing businesses through hard and smart work.

In the hydrogen energy sector, CM Green Energy gradually penetrated the entire green energy industry chain, planned multiple hydrogen energy application scenarios, and gradually accumulated industry experience. Huaxia Hydrogen Energy secured orders for three large-scale electrolyzers, with one sold overseas. The production lines for electrodes and diaphragms entered the pre-production commissioning phase.

In the marine and offshore equipment sector, Qingdao Offshore Equipment successfully signed orders for wave compensation cranes for two vessels—a Greek cable-laying ship and a Qingdao research vessel, achieving a breakthrough in marine cranes. It secured over RMB 200 million in new orders within six months, opening up new business growth opportunities. The WindWing Department completed sea trials for its first set of 37.5-meter WingWing, with fuel-saving performance exceeding expectations, earning a strong industry reputation. It had nearly 20 orders in hand and was expected to sell over 40 units for the full year. The Clean Power Department gradually delivered methanol fuel systems and actively pursued technological and market development for LNG, ammonia fuel systems, and liquid cargo systems. Zhengzhou Offshore Equipment successfully delivered two liftboat jacking up systems with excellent performance. Qingdao Oil&Gas Equipment made steady progress in developing new ship and offshore equipment products.

In the Global Services sector, after the Global Service Center was established in Hong Kong earlier in the year, CM International was set up and established in Hong Kong as the primary dispatch center for the service center. Building on existing branches in countries such as the United States, Canada, Mexico, Brazil, the United Kingdom, and Singapore, two new branches were established in the United Arab Emirates and the Netherlands. Leveraging these national branches as secondary dispatch centers, tertiary execution outlets were established in nearby countries. Currently, service outlets have been set up in major oil and gas-producing countries and key shipping ports. The company's official website launched a service interface for unified dispatch and command. CM International strengthened collaboration with domestic products, facilitating the conclusion of multiple orders.

Under the internal synergy strategy of China Merchants Group and with the full support of CMI and CMIT, the company has built a solid foundation in the new business sectors of ship and offshore and new energy. Its innovation system and internal control system have been gradually improved and strengthened.

The meeting emphasized that the process of transformation and leapfrog development is by no means smooth sailing. Guided by the group's "Three Innovations Power," it is essential to accurately identify genuine market demands, adhere to a customer-centric approach, accelerate talent development, and establish business growth models. At this critical juncture of transformation, CM Energy needs to embark on a breakthrough path of "perseverance" and "adjustment"—cultivating strategic resilience to navigate through the challenging phase of market expansion while demonstrating transformative wisdom. Through dynamic calibration of business structures and resource allocation, the company aims to drive overall efficiency improvements through scale breakthroughs, aligning with two growth curves and unleashing the power of the Three Innovations.