CRRC (601766) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 48.67 billion, up 51.23% year-over-year, driven by strong growth in railway equipment sales.

• Net profit attributable to shareholders was RMB 3.05 billion, a 202.79% increase compared to the same quarter last year.

• Cash flow from operating activities was a net outflow of RMB 5.03 billion, compared to a net inflow of RMB 14.49 billion in Q1 2024.

Financial highlights

• Operating income: RMB 48.67 billion, up 51.23% year-over-year.

• Net profit attributable to shareholders: RMB 3.05 billion, up 202.79% year-over-year.

• Basic and diluted EPS: RMB 0.11, up from RMB 0.04 in Q1 2024.

• Total assets at quarter-end: RMB 528.01 billion, up from RMB 512.82 billion at 2024 year-end.

• Net cash outflow from operating activities: RMB 5.03 billion.

Outlook and guidance

• New contracts signed in Q1 2025 totaled approximately RMB 54.6 billion, including RMB 8.2 billion from international business.