Chang Jiang Shang Bao·2025-08-26 23:32Core Viewpoint - China CRRC Corporation Limited (601766.SH, 01766.HK) reported significant growth in its half-year performance for 2025, with revenue reaching 119.76 billion yuan, a year-on-year increase of 32.99%, and net profit attributable to shareholders of 7.25 billion yuan, up 72.48% [1][3]. Group 1: Financial Performance - In the first half of 2025, China CRRC achieved a revenue of 119.76 billion yuan, marking a 32.99% increase year-on-year [3]. - The net profit attributable to shareholders was 7.25 billion yuan, reflecting a 72.48% growth compared to the previous year [1][3]. - The company's net profit excluding non-recurring items reached 6.66 billion yuan, showing a remarkable increase of 98.25% [3]. Group 2: Orders and R&D Investment - China CRRC signed new orders totaling approximately 146 billion yuan in the first half of 2025, with overseas orders accounting for about 30.9 billion yuan [2][4]. - The company invested 6.78 billion yuan in R&D during the same period, which is a 16.99% increase year-on-year [2][4]. - A total of 1,630 new patent applications were filed, including 1,216 invention patents and 37 overseas patents [2][4]. Group 3: Business Segments - The railway equipment business generated 59.71 billion yuan in revenue, up 42.21%, making it the largest revenue contributor at 49.86% of total revenue [6]. - The new industries segment reported revenue of 40.73 billion yuan, a 35.59% increase, representing 34.01% of total revenue [6]. - The urban rail and infrastructure business achieved revenue of 17.40 billion yuan, growing by 6.27%, while the modern services segment saw revenue of 1.92 billion yuan, up 16.39% [7]. Group 4: Market Position and Growth Strategy - China CRRC maintains its position as a leading global supplier of rail transit equipment, with its sales scale consistently ranking first worldwide [5]. - The company is focusing on optimizing its layout and structural adjustments to enhance its competitive edge in the market [3]. - New emerging industries, including wind power equipment and new materials, are becoming significant growth drivers for the company [6][7].