Understanding the Market | CRRC rose more than 4% in the afternoon, with railway equipment revenue increasing by over 40% in the first half of the year, and the bidding volume for the second batch of train sets exceeding expectations

CRRC rose more than 4% in the afternoon, as of the time of publication, up 4.17%, reported at HKD 6.24, with a transaction volume of HKD 119 million. In terms of news, CRRC previously released its interim results. In the first half of the year, it achieved revenue of 119.758 billion yuan, a year-on-year increase of 33%; achieved a net profit attributable to shareholders of 7.246 billion yuan, a year-on-year increase of 72%; achieved a net profit attributable to shareholders after deducting non-recurring gains and losses of 6.661 billion yuan, a year-on-year increase of 98%. The financial report shows that all four major business segments achieved positive growth year-on-year, with the railway equipment revenue growth rate being the fastest, increasing by over 40% year-on-year. Notably, on August 19, the China State Railway Group announced the procurement of the second batch of 350 km/h Fuxing intelligent trains for 2025, with a total of 210 train sets being procured this time. Combined with the first batch of 68 sets procured in April this year, a total of 278 sets have been procured from January to August this year, exceeding the total procurement for the entire year of 2024. It is reported that the 2025 work conference of the China State Railway Group set a target: national railway passenger volume of 4.28 billion people, a year-on-year increase of 4.9%, striving to complete infrastructure investment of 590 billion yuan, and put into operation new lines of 2,600 kilometers, significantly higher than the target of 1,000 kilometers for 2024