Zhi Tong Cai Jing·2025-10-31 05:45Core Viewpoint - China Railway (00390) experienced a decline of over 4% in its stock price following the announcement of its financial results, with a notable decrease in net profit for the first three quarters of 2023 [1] Financial Performance - For the first three quarters of 2023, China Railway reported total operating revenue of 776.06 billion yuan, a year-on-year decrease of 5.39% [1] - The net profit attributable to shareholders was 17.49 billion yuan, reflecting a year-on-year decline of 14.97% [1] - In the third quarter, revenue was 262.72 billion yuan, down 4.53%, while net profit was 5.664 billion yuan, a decrease of 9.98% [1] Market Reaction - Following the earnings report, China Railway's stock fell by 4.36%, trading at 3.95 Hong Kong dollars with a transaction volume of 178 million Hong Kong dollars [1] Analyst Insights - Huatai Securities noted that since the second quarter, the company has seen a positive growth in new signed orders, and the decline in revenue and profit has narrowed in the third quarter [1] - The firm anticipates improvements in the company's fundamentals due to the implementation of policy financial tools and accelerated issuance of special bonds, maintaining a "buy" rating for both A and H shares [1]