CRRC (01766) announced interim results, with net profit of 7.246 billion yuan to mother, an increase of 72.48% year on year

According to the Zhitong Finance App, CRRC (01766) announced its 2025 interim results, with operating income of 119.758 billion yuan (RMB, same below), up 32.99% year on year; net profit attributable to shareholders of listed companies was 7.246 billion yuan, up 72.48% year on year; basic earnings per share were 0.25 yuan.

During the period, revenue increased by 32.99% compared to the same period last year, mainly due to increased revenue from railway equipment and new industries. Railway equipment business, urban rail and urban infrastructure business, new industry business, and modern service business respectively accounted for 49.86%, 14.53%, 34.01%, and 1.60% of total revenue.

The operating income of the railway equipment business increased by 42.21% over the same period last year, mainly due to the increase in revenue from the EMU and truck business. Operating costs increased by 37.69% over the same period last year, mainly due to increased operating income. Cost growth is lower than revenue growth due to different product types.

Revenue from the urban rail and urban infrastructure business increased 6.27% over the same period last year, mainly due to an increase in the new urban rail subway vehicle construction business. Operating costs increased 5.22% over the same period last year, mainly due to increased operating income.

Revenue from the new industry business increased 35.59% over the same period last year, mainly due to increased revenue from clean energy equipment. Operating costs increased by 40.74% over the same period last year, mainly due to increased operating income. Cost increases are higher than revenue growth due to different product types.

The revenue of the modern service business increased 16.39% over the same period last year, mainly due to the increase in revenue from the service business in the current period. Operating costs increased by 21.06% compared to the same period last year, mainly due to increased operating income.

During the reporting period, the company signed about 146 billion yuan of new orders, of which about 30.9 billion yuan were new overseas orders.

The company's revenue in mainland China increased 36.84% during the reporting period. Revenue in other countries or regions increased by 8.43%, mainly due to the increase in overseas EMU manufacturing and truck business volume in the current period.