Zhuzhou CRRC Times Electric (3898) Q3 2025 earnings summary

Executive summary

• Revenue for the first three quarters of 2025 reached RMB 18,830 million, up 14.86% year-over-year, with strong growth across both rail transit and emerging equipment businesses.

• Net profit attributable to shareholders for the period was RMB 2,720 million, a 10.85% increase compared to the same period last year.

• Basic and diluted earnings per share rose to RMB 1.98, up from RMB 1.74 year-over-year.

Financial highlights

• Total assets at the end of the period were RMB 69,548 million, a 7.32% increase from the end of last year.

• Net cash flow from operating activities surged 303% year-over-year to RMB 2,117 million.

• Weighted average return on net assets was 6.56%, up 0.28 percentage points year-over-year.

• R&D investment totaled RMB 1,970 million, representing 10.46% of revenue, up 0.61 percentage points year-over-year.

Outlook and guidance

• Management attributes profit growth to increased sales and improved operational efficiency, with continued focus on R&D and expansion in emerging equipment sectors.