CRRC (601766) Q2 2025 earnings summary

Executive summary

• Achieved revenue of RMB 119.76 billion in H1 2025, up 32.99% year-over-year, with net profit attributable to shareholders of RMB 7.25 billion, up 72.48%.

• Growth driven by strong performance in railway equipment and new industries, with significant increases in both domestic and overseas orders.

• Maintained global leadership in rail transit equipment, with rapid expansion in clean energy and low-carbon transport sectors.

Financial highlights

• Operating income: RMB 119.76 billion, up 32.99% year-over-year.

• Net profit attributable to shareholders: RMB 7.25 billion, up 72.48% year-over-year.

• Gross margin: 21.81%, up 0.40 percentage points year-over-year.

• Basic and diluted EPS: RMB 0.25, up 66.67% year-over-year.

• Cash flow from operations: net outflow of RMB 8.99 billion, compared to net inflow of RMB 1.84 billion in H1 2024.

Outlook and guidance

• Continued focus on high-quality development in rail and clean energy equipment, with emphasis on digitalization, green transformation, and international expansion.

• Profit distribution plan: cash dividend of RMB 1.10 per 10 shares, totaling RMB 3.157 billion, pending shareholder approval.