On March 12, 2025, CM Energy Technology Co., Ltd. ("CM Energy") and Honghua Group Limited ("Honghua Group") formally signed a strategic cooperation agreement in Guanghan, Sichuan. The agreement was executed by Zhan Huafeng, Executive Director and CEO of CM Energy, and Zhu Hua, Deputy Party Secretary and President of Honghua Group, marking a milestone in their partnership.  

Leveraging their respective technological expertise and experience in high-end offshore equipment, the collaboration aims to deepen integration across the entire project lifecycle, driving high-quality development in the offshore engineering equipment industry. Both companies hold significant competitive advantages: Honghua Group specializes in R&D, design, manufacturing, and integrated solutions for land-based oil and gas drilling equipment as well as offshore engineering systems, while CM Energy is a leading provider of oil and gas drilling, shipbuilding, and marine support equipment with comprehensive design, manufacturing, and engineering capabilities. CM Energy is currently advancing its industrial strategy centered on hydrogen, machinery, electrical systems, and service solutions.  

This partnership aligns with China’s national strategies of "building a strong maritime nation" and achieving "dual-carbon" (carbon peak and carbon neutrality) goals. By combining technological synergies and complementary resources, the two companies will optimize industry chain layouts, accelerate overseas market expansion, collaborate on product R&D, and promote talent development and Party building initiatives. Their joint efforts aim to foster the transition of marine engineering equipment toward low-carbon and digital transformation, setting a new benchmark for integrated collaboration across the sector.

About Honghua Group

Honghua Group Limited, a subsidiary of Dongfang Electric Corporation, was established in 1997 and listed on the Hong Kong Stock Exchange in 2008 (Stock Code: 00196.HK). As a high-tech enterprise specializing in R&D, design, manufacturing, and integrated services for land-based oil & gas drilling equipment and marine engineering systems, the group has consistently pursued the strategic goal of becoming a global leader in high-end oil and gas equipment. It delivers competitive and reliable products across energy sectors including hydrocarbons and green energy solutions. Honghua Group’s main businesses include the development and commercialization of complete land drilling rig systems, integrated electric fracturing equipment, critical components for well construction machinery, and comprehensive engineering services for drilling and completion projects. The group also engages in large-scale steel structure fabrication for diverse industries. With extensive expertise spanning terrestrial and marine domains, Honghua maintains two major production bases: the Guanghan Land Drilling Equipment Manufacturing Base and Qidong Marine Engineering Equipment Manufacturing Base.