Zhuzhou CRRC Times Electric (3898) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 10.56% YoY to RMB20.818bn; attributable net profit increased 3.11% to RMB2.805bn.

• Q3 revenue increased 17.10% YoY to RMB7.747bn, while attributable net profit rose 4.18% to RMB1.093bn.

Financial highlights

• 9M operating profit was RMB3.297bn versus RMB3.255bn; total profit was RMB3.313bn, up 1.23% YoY.

• 9M net profit was RMB2.894bn versus RMB2.887bn; attributable net profit was RMB2.805bn versus RMB2.720bn.

• Adjusted for non-recurring items, 9M attributable net profit was RMB2.721bn, up 4.11% YoY; non-recurring gains totaled RMB84.1m.

Segment performance

• 9M rail transit revenue was RMB11.470bn, up 11.31% YoY; rail transit electric equipment increased 15.43% to RMB9.320bn.

• Emerging equipment revenue rose 9.70% to RMB9.244bn; semiconductor revenue increased 16.38% to RMB4.469bn.

• Automotive revenue grew 39.49% to RMB2.605bn; marine revenue grew 26.88% to RMB840m.

• New energy revenue fell 49.98% to RMB795m; other rail transit equipment revenue declined 48.25% to RMB297m.