Core Viewpoint - China CNR Corporation has achieved rapid growth in revenue and profit in the first three quarters, with a structured advantage in revenue growth [1] Group 1: Financial Performance - The company reported new signed orders of approximately 247.2 billion yuan, a year-on-year increase of 16.49% [1] - International business contracts amounted to about 46.7 billion yuan, reflecting a year-on-year growth of 36.55% [1] - The projected net profits for 2025-2027 are 14.32 billion, 16.51 billion, and 17.56 billion yuan respectively, with EPS of 0.50, 0.58, and 0.61 yuan [1] Group 2: Market Dynamics - The new industry business has become a core growth engine, with significant achievements in overseas market expansion [1] - The company is exhibiting a collaborative growth pattern between domestic and international markets, leveraging the potential of the rail transit equipment industry [1] Group 3: Valuation - The projected PE ratios for 2025-2027 are 15.37, 13.34, and 12.54 times, with a reasonable price range of 7.59 to 9.11 yuan based on the industry average PE for 2025 [1]
研报掘金丨财信证券:维持中国中车“买入”评级,新签订单规模拓展突出