【True Insight Hong Kong Stock Trends】Beijing Infrastructure Investment Rail Transit (01522.HK): First-quarter 2024 orders in hand amounted to approximately RMB 2.38 billion;首次进入埃及和欧洲轨道交通市场 (First entry into Egypt and Europe's rail transit market)

Zhenzhuo Financial News April 24, 2024 - $BII TRANS TECH(01522.HK) and its subsidiaries released a business progress announcement. In the first quarter of 2024, the group secured new contracts and winning bids totaling approximately RMB 490 million. As of March 31, 2024, the order backlog amounted to approximately RMB 2.38 billion, maintaining stable overall operations compared to the same period last year.

During the period, the group continued to expand its business, focusing on the domestic market. The Data and Integration Services business won the Automatic Fare Collection ("AFC") project for Shenyang Metro Line 3, valued at RMB 77.9 million, marking the group's first entry into the Shenyang market in this sector. It also secured the Beijing AFC 2.0 project, valued at RMB 33.51 million.

The Intelligent Passenger Information Service business capitalized on industry upgrade opportunities, winning the first-phase overhaul project for Kunming Metro Line 12, valued at RMB 44 million. On April 18, 2024, the first electric train equipped with Huaqi Intelligent's Passenger Information System ("PIS") for the Chongqing Bishan-Tongliang suburban railway officially commenced operation. Huaqi Intelligent, leveraging its expertise and innovation in smart transportation, provided an exceptional passenger service system for the Bishan-Tongliang line, enhancing convenience and comfort for Chongqing commuters.

Meanwhile, the group actively expanded into overseas markets, securing the LCD display project for Cairo Metro Line 4, valued at RMB 18.78 million, marking its first entry into the Egyptian market. It also won the Dutch NSDD double-decker train display system project, introducing its products into the traditional European rail transit market through the internationally renowned vehicle manufacturer CAF (Construcciones y Auxiliar de Ferrocarriles, S.A.). These efforts aim to establish benchmark projects, enhance international brand image, and increase overseas market visibility.

In March 2024, Beijing Infrastructure Investment Technology released its 2023 annual results, reporting annual revenue of HKD 1,637.2 million, roughly flat year-on-year, with overseas revenue up 44.1%. Profit attributable to equity shareholders was approximately HKD 174.3 million, down about 2.8% (in RMB terms: profit attributable to equity shareholders was approximately RMB 157.1 million, up about 1.6% year-on-year).