CRRC (601766) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 reached RMB 183.87 billion, up 20.49% year-over-year, driven by growth in railway equipment and new industries.

• Net profit attributable to shareholders was RMB 9.96 billion, a 37.53% increase year-over-year.

• The company underwent significant board and management changes, including the election of a new board and the cancellation of the supervisory board.

Financial highlights

• Operating income for Q3 was RMB 64.11 billion, up 2.5% from the same quarter last year.

• Net profit for Q3 was RMB 2.72 billion, down 10.7% year-over-year; basic EPS for Q3 was RMB 0.09.

• For the first nine months, basic and diluted EPS were both RMB 0.35, up 40% year-over-year.

• Cash flow from operating activities for the first nine months was a net outflow of RMB 11.53 billion, compared to a net inflow of RMB 7.55 billion last year.

• Total assets at quarter-end were RMB 569.82 billion, up 11.11% from year-end 2024.

Outlook and guidance

• New contracts signed in the first nine months totaled approximately RMB 247.2 billion, with international contracts accounting for RMB 46.7 billion.