Core Insights - China CNR Corporation Limited (01766) reported a revenue of approximately 183.87 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 20.49% [1] - The net profit attributable to shareholders was around 9.96 billion yuan, reflecting a year-on-year growth of 37.53% [1] - Basic earnings per share stood at 0.35 yuan [1] Revenue Breakdown - The increase in revenue was primarily driven by growth in the railway equipment and new industry sectors [1] - Revenue contributions from various segments were as follows: railway equipment business accounted for 47.71%, urban rail and infrastructure business 14.84%, new industry business 35.95%, and modern service business 1.50% [1]

Core Viewpoint - China CNR Corporation Limited (01766.HK) reported its Q3 2025 results, showing a slight increase in revenue but a decline in net profit compared to the previous year [1] Financial Performance - The company's Q3 revenue reached 64.107 billion yuan, representing a year-on-year growth of 2.50% [1] - Net profit for Q3 was 2.719 billion yuan, which is a decrease of 10.70% year-on-year [1] - Basic earnings per share for Q3 stood at 0.09 yuan [1] Year-to-Date Performance - For the first three quarters of 2025, the total revenue was 183.865 billion yuan, reflecting a year-on-year increase of 20.49% [1] - Net profit for the first three quarters amounted to 9.964 billion yuan, showing a significant year-on-year growth of 37.53% [1] - Basic earnings per share for the first three quarters was reported at 0.35 yuan [1]

Financial Performance - Operating revenue for Q3 2025 was RMB 64,106,958 thousand, representing a 2.50% increase compared to the same period last year[8]. - Net profit attributable to shareholders decreased by 10.70% to RMB 2,718,596 thousand from RMB 3,044,125 thousand in the previous year[8]. - The net profit after deducting non-recurring gains and losses was RMB 2,434,557 thousand, down 7.68% year-on-year[8]. - Operating revenue increased by 20.49% year-on-year, primarily due to growth in railway equipment and new industry businesses[15]. - Railway equipment business revenue reached 87.72 billion RMB, up 22.23% from the previous year, driven by increased sales of high-speed trains[16]. - New industry business revenue increased by 31.91% year-on-year, totaling 66.10 billion RMB, mainly due to growth in clean energy equipment sales[18]. - Net profit attributable to shareholders increased by approximately 37.53% year-on-year, driven by higher product sales[16]. - Total operating revenue for the first three quarters of 2025 reached RMB 183,865,085 thousand, a 20.5% increase from RMB 152,592,557 thousand in the same period of 2024[38]. - Net profit for the first three quarters of 2025 was RMB 12,580,111 thousand, up 33.4% from RMB 9,470,643 thousand in 2024[39]. - Operating profit for the first three quarters of 2025 was RMB 14,621,908 thousand, compared to RMB 10,769,338 thousand in 2024, reflecting a growth of 36.5%[38]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 569,815,152 thousand, an increase of 11.11% compared to the end of the previous year[8]. - The total liabilities increased to RMB 332,020,268 as of September 30, 2025, compared to RMB 278,675,937 at the end of 2024, marking a rise of about 19.1%[34]. - The total liabilities increased to RMB 357,479,227 thousand as of September 30, 2025, from RMB 302,599,925 thousand at the end of 2024, marking a rise of 18.1%[35]. - The company's total assets reached RMB 569,815,152 as of September 30, 2025, compared to RMB 512,845,527 at the end of 2024, indicating an increase of about 11.1%[34]. - The total current assets amounted to RMB 393,975,284, an increase from RMB 346,314,419 as of December 31, 2024, reflecting a growth of approximately 13.8%[33]. - The inventory level rose significantly to RMB 112,392,597 as of September 30, 2025, up from RMB 78,951,355 at the end of 2024, representing a growth of approximately 42.3%[33]. - The total equity attributable to shareholders of the parent company was RMB 169,791,490 thousand as of September 30, 2025, compared to RMB 168,799,788 thousand at the end of 2024[35]. Cash Flow - Cash flow from operating activities showed a net outflow of 11.53 billion RMB, compared to a net inflow of 7.55 billion RMB in the same period last year[17]. - Cash flow from operating activities showed a net outflow of RMB 11,527,861 thousand in the first three quarters of 2025, compared to a net inflow of RMB 7,545,223 thousand in 2024[44]. - Cash flow from financing activities generated a net inflow of 4.13 billion RMB, a significant improvement from a net outflow of 8.89 billion RMB last year[17]. - Net cash flow from financing activities improved to RMB 4,128,942 in 2025, recovering from a negative RMB 8,893,448 in 2024[46]. - Cash inflow from operating activities was RMB 191,220 in 2025, significantly lower than RMB 421,910 in 2024, highlighting challenges in operational cash generation[57]. - Net cash flow from investing activities for the first three quarters of 2025 was -RMB 14,713,381, compared to -RMB 9,094,141 in 2024, indicating increased investment outflows[46]. Investments and Contracts - The company signed new contracts worth approximately 247.2 billion RMB during the first nine months of 2025, including about 46.7 billion RMB from international business[18]. - Investment income increased by approximately 35.79% year-on-year, mainly due to higher returns from investments in joint ventures[16]. - The company completed the acquisition of 100% equity in a subsidiary, which resulted in restated figures for the previous year[9]. Shareholder Information - The number of A-share shareholders was reported at 496,183, while H-share shareholders numbered 2,036 as of the report date[25]. - The company’s major shareholder, CRRC Group, held a total of 14,765,441,250 shares, representing approximately 51.45% of the total issued shares[24]. Corporate Governance - The company appointed new executives, including a new chairman and several vice presidents, following the recent board elections[27]. - The company decided to abolish the supervisory board during the extraordinary shareholders' meeting held on September 22, 2025[29].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 中國中車股份有限公司 CRRC CORPORATION LIMITED （於中華人民共和國註冊成立的股份有限公司） （股份代碼：1766） 海外監管公告 此海外監管公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條發出。 中国中车股份有限公司 第四届董事会第三次会议决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性、完整性承担法律责任。 中国中车股份有限公司（以下简称"公司"）第四届董事会第三次会议于 2025 年 10 月 16 日以书面形式发出通知，于 2025 年 10 月 30 日以现场与通讯相结合 的方式在北京召开。会议应到董事 8 人，实到董事 7 人，非执行董事范冰先生因 其他公务未能亲自出席本次会议，委托独立非执行董事王西峰先生代其行使在本 次会议上各项议案的表决权和会议决议、会议记录等文件的签字权。公司部分高 ...

10月30日晚间，中国中车（601766.SH）发布2025年三季度报告。前三季度，中国中车实现营业收入 1838.65亿元，同比增长20.49%；归属于上市公司股东的净利润99.64亿元，同比增长37.53%；归属于上 市公司股东扣非净利润90.96亿元，同比增长51.67%。 经营业绩表现出色，品牌竞争力持续增强 今年以来，全国铁路运输行业延续高景气度，前三季度全国铁路完成固定资产投资5937亿元，同比增长 5.8%，客运货运均较去年同期实现增长。受益于铁路运输装备需求的有力支撑，中国中车经营业绩保 持增长，2025年前三季度公司铁路装备业务实现营业收入877.17亿元，同比增长22.23%，主要来自动车 组收入增加贡献。 与此同时，新产业业务保持良好发展势头，前三季度营业收入660.97亿元，同比增长31.91%；城轨与城 市基础设施业务及现代服务业务稳步发展，分别实现收入272.88亿元、27.64亿元。 创新驱动业务发展，新质生产力注入动能 面对复杂多变的外部环境，中国中车积极以创新驱动发展、加快产品研发，为客户提供更智能、高效、 环保、可靠的产品和系统解决方案。2025年前三季度，公司新签订单约2 ...

今年以来，全国铁路运输行业延续高景气度，前三季度全国铁路完成固定资产投资5937亿元，同比增长 5.8%，客运货运均较去年同期实现增长。受益于铁路运输装备需求的有力支撑，中国中车经营业绩保 持增长，2025年前三季度公司铁路装备业务实现营业收入877.17亿元，同比增长22.23%，主要来自动车 组收入增加贡献。 10月30日晚间，中国中车（601766）(601766.SH)发布2025年三季度报告。前三季度，中国中车实现营 业收入1838.65亿元，同比增长20.49%；归属于上市公司股东的净利润99.64亿元，同比增长37.53%；归 属于上市公司股东扣非净利润90.96亿元，同比增长51.67%。 经营业绩表现出色，品牌竞争力持续增强 创新驱动业务发展，新质生产力注入动能 面对复杂多变的外部环境，中国中车积极以创新驱动发展、加快产品研发，为客户提供更智能、高效、 环保、可靠的产品和系统解决方案。2025年前三季度，公司新签订单约2472亿元，其中新签海外订单 467亿元。 今年以来，公司持续加快科技创新与产业创新深度融合，以新质生产力为发展注入动能。今年下半年召 开的第三届中国国际供应链博览会上，公司 ...

中国中车股份有限公司（以下简称"公司"）第四届董事会第三次会议于 2025 年 10 月 16 日以书面形式发出通知，于 2025 年 10 月 30 日以现场与通讯相结合 的方式在北京召开。会议应到董事 8 人，实到董事 7 人，非执行董事范冰先生因 其他公务未能亲自出席本次会议，委托独立非执行董事王西峰先生代其行使在本 次会议上各项议案的表决权和会议决议、会议记录等文件的签字权。公司部分高 级管理人员及有关人员列席了会议。本次会议的召开符合有关法律、行政法规、 部门规章和《中国中车股份有限公司章程》的有关规定。 证券代码：601766（A 股） 股票简称：中国中车（A 股） 编号：2025-048 证券代码： 1766（H 股） 股票简称：中国中车（H 股） 中国中车股份有限公司 第四届董事会第三次会议决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性、完整性承担法律责任。 三、审议通过《关于中车株洲电力机车研究所有限公司将所持株洲时代新 材料科技股份有限公司部分股份无偿划转至中国中车股份有限公司的议案》 会议由董事长孙永才先生主持，经过有 ...

人民财讯10月30日电，中国中车（601766）10月30日发布2025年三季报，公司第三季度营业收入641.07 亿元，同比增长2.50%；净利润27.19亿元，同比下降10.70%。2025年前三季度营业收入1838.65亿元， 同比增长20.49%；净利润99.64亿元，同比增长37.53%；基本每股收益0.35元。营业收入较上年同期增 加主要是铁路装备业务和新产业（300832）业务收入增加。 ...

证券代码：601766（A 股） 股票简称：中国中车（A 股） 编号：2025-049 证券代码： 1766（H 股） 股票简称：中国中车（H 股） 中国中车股份有限公司 关于下属子公司收购北京中车装备科技有限公司 100%股权暨关联交易的公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 中国中车股份有限公司（以下简称"公司"）的控股子公司中车长春 轨道客车股份有限公司（以下简称"长客股份公司"）拟收购中车北京二七机车 有限公司（以下简称"二七机车公司"）所持北京中车装备科技有限公司（以下 简称"北京装备科技公司"）100%股权（以下简称"本次交易"）。 二七机车公司为公司控股股东中国中车集团有限公司（以下简称"中 车集团"）控制的企业，因此本次交易构成关联交易，但不构成《上市公司重大 资产重组管理办法》规定的重大资产重组，本次股权转让价格为人民币 18,620.90 万元。 本次交易前，存在中车集团向北京装备科技公司提供的财务资助，财 务资助金额为 25.33 亿元，年化利率为 2.4%—2.6%（根据实际 ...

Financial Performance - The company's operating revenue for Q3 2025 reached CNY 64,106,958 thousand, a 2.50% increase compared to CNY 62,543,500 thousand in the same period last year[5]. - Net profit attributable to shareholders decreased by 10.70% to CNY 2,718,596 thousand from CNY 3,044,125 thousand year-on-year[5]. - The net profit excluding non-recurring gains and losses was CNY 2,434,557 thousand, down 7.68% from CNY 2,637,020 thousand in the previous year[5]. - Total revenue reached RMB 166.99 billion, with revenue from passenger vehicles at RMB 60.00 billion, high-speed trains at RMB 526.16 billion, and freight vehicles at RMB 124.01 billion[13]. - The net profit attributable to shareholders of the parent company was RMB 9.96 billion, up 37.5% from RMB 7.25 billion in the previous year[25]. - Net profit for the first three quarters of 2025 was 3,063,637 thousand RMB, compared to 650,414 thousand RMB in the same period of 2024, reflecting a strong growth in profitability[35]. Revenue Breakdown - Revenue from the railway equipment business increased by 22.23% to CNY 87,716,558 thousand, driven by higher sales of high-speed trains[12]. - The new industry segment reported a revenue increase of 31.91%, reaching CNY 66,096,775 thousand compared to CNY 50,105,800 thousand last year[12]. - Revenue from urban rail and infrastructure business decreased by 3.99% year-on-year, primarily due to a reduction in urban infrastructure income[13]. - New industry business revenue increased by 31.91% year-on-year, mainly driven by higher clean energy equipment sales[13]. - Modern service business revenue grew by 20.15% year-on-year, attributed to an increase in service-related income[13]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 569,815,152 thousand, reflecting an 11.11% increase from CNY 512,823,630 thousand at the end of the previous year[5]. - The total assets as of September 30, 2025, amounted to RMB 569.82 billion, compared to RMB 512.85 billion at the end of 2024, reflecting a growth of 11.1%[22]. - The company's total liabilities increased to RMB 357.48 billion, up from RMB 302.60 billion, representing a rise of 18.1%[23]. - The company’s total equity decreased to 99,525,297 thousand RMB as of September 30, 2025, from 105,651,187 thousand RMB at the end of 2024[33]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 11,527,861 thousand, compared to a net inflow of CNY 7,622,185 thousand in the same period last year[5][12]. - Operating cash flow for the first three quarters of 2025 was -11,527,861 thousand RMB, compared to 7,545,223 thousand RMB in the same period of 2024, indicating a significant decline[29]. - The cash and cash equivalents decreased to RMB 46.24 billion from RMB 67.51 billion, a decline of 31.5%[22]. - The cash and cash equivalents at the end of the third quarter of 2025 amounted to 6,057,676 thousand RMB, up from 5,201,592 thousand RMB in 2024, indicating a positive cash position[37]. - The total cash outflow from operating activities was 705,914 thousand RMB in 2025, slightly lower than 731,434 thousand RMB in 2024, indicating better cost control[37]. Investment and Financing Activities - The company’s investment income increased by approximately 35.79% year-on-year, attributed to higher returns from joint ventures[11]. - The company issued short-term financing bonds totaling RMB 14 billion in five tranches during the first nine months of 2025[21]. - Cash inflow from investment activities in the first three quarters of 2025 was 39,467,176 thousand RMB, significantly higher than 23,501,046 thousand RMB in 2024, reflecting a strong investment recovery[37]. - The net cash flow from financing activities was -1,239,029 thousand RMB in 2025, an improvement from -16,186,664 thousand RMB in 2024, showing better management of financing outflows[37]. Research and Development - Research and development expenses for the first three quarters of 2025 were RMB 10.82 billion, an increase of 11.5% from RMB 9.70 billion in the same period last year[25]. - Research and development expenses for the first three quarters of 2025 were 258,469 thousand RMB, down from 322,670 thousand RMB in the same period of 2024, indicating a reduction in R&D spending[35].