China Intelligent Transportation (01900) announced interim results with net loss attributable to mother of 38.4 million yuan year-on-year profit to loss

According to the Zhitong Finance App, China Intelligent Transportation (01900) announced its 2024 interim results, achieving revenue of RMB 285 million, a decrease of 17.6% over the same period last year. The loss attributable to the owner of the parent company was 38.4 million yuan, a year-on-year change of profit to loss. Loss of $0.02 per share.

In the first half of the year, the Railway Division's confirmed revenue decreased by 31.8% to 144 million yuan, mainly due to the fact that major overseas high-speed rail projects (Hungarian section of the Hungarian section of the Hungarian (Hungary-Serbia) Railway and Matong (Malaysia East Coast Link Railway Project) had a total contract amount of about RMB 324 million. These projects are currently being prepared for early delivery, so confirmed revenue decreased in the first half of the year, and it is expected that they will be delivered one after another in the second half of the year.

The Energy Division confirmed revenue of approximately $141 million, an increase of 4.4% year over year.

According to the announcement, the main reasons for profit and loss were: (i) the decline in earnings and gross profit in the first half of the year; (ii) the first half of the year was affected by fluctuations in the fair value of financial assets, with a change loss of RMB 58.1 million over the same period last year; (iii) the first half of the year was mainly affected by foreign exchange exchange losses in Myanmar's electricity business. The foreign exchange loss loss was RMB 38.2 million, an increase of RMB 40 million over the same period last year; and (iv) the first half of the year was affected by net impairment losses of financial and contract assets, income tax expenses, etc.; and (iv) the first half of the year was affected by net impairment losses of financial and contract assets, income tax expenses, etc. Business Net effects such as increased revenue increased by RMB 10.5 million compared to profit for the same period last year.