CRRC (601766) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached RMB 152.58 billion, up 6.67% year-over-year, driven mainly by growth in railway equipment sales.

• Net profit attributable to shareholders was RMB 7.24 billion, a 17.77% increase year-over-year.

• Basic and diluted EPS for the period were RMB 0.25, up 22.22% from the previous year.

• The company secured new contracts totaling approximately RMB 212.2 billion, including RMB 34.2 billion from international business.

Financial highlights

• Operating income for Q3 was RMB 62.54 billion, up 12.22% compared to the same quarter last year.

• Net profit for Q3 was RMB 3.04 billion, up 13.11% year-over-year.

• Cash flow from operating activities for the first nine months was a net inflow of RMB 7.62 billion, compared to a net outflow of RMB 3.99 billion last year.

• Total assets as of September 30, 2024, were RMB 501.5 billion, up 6.3% from the end of 2023.

• Shareholders’ equity attributable to the parent company was RMB 163.49 billion, up 1.56% from year-end 2023.

Outlook and guidance

• The company’s parent group increased its shareholding, reflecting confidence in long-term value and stability.