CRRC (601766) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 53.82 billion, up 10.57% year-over-year, driven by growth in railway equipment and new industries.

• Net profit attributable to shareholders was RMB 3.38 billion, up 10.66% year-over-year.

• Cash flow from operating activities was a net outflow of RMB 9.08 billion, compared to a net outflow of RMB 5.07 billion in Q1 2025.

• Major board and management changes occurred, including the appointment of a new president and CFO.

Financial highlights

• Operating income: RMB 53.82 billion, up 10.57% year-over-year.

• Net profit attributable to shareholders: RMB 3.38 billion, up 10.66% year-over-year.

• Basic and diluted EPS: RMB 0.12, up 9.09% year-over-year.

• Total assets at quarter-end: RMB 553.36 billion, up 0.47% from year-end 2025.

• Net cash flow from operating activities: -RMB 9.08 billion.

Outlook and guidance

• Revenue growth attributed to increased sales in railway equipment and new energy sectors.

• Management expects continued focus on expanding new industry and modern service segments.