Core Insights - China Railway Group (00390.HK) reported a mid-year performance for the first half of 2025, with total revenue of RMB 512.50 billion, a year-on-year decrease of 5.9% [1] - Gross profit was RMB 42.42 billion, down 9.3% year-on-year, while profit attributable to shareholders was RMB 11.83 billion, reflecting a 17.2% decline, with basic earnings per share at RMB 0.412 [1] Financial Performance - The company experienced a decline in revenue, gross profit, and net profit compared to the previous year [1] - New contract value signed reached RMB 1,108.69 billion, an increase of 2.8% year-on-year, indicating a recovery in new orders [1] Market Segments - The railway market saw a year-on-year growth of 12.4%, maintaining a leading market share in complex bridge construction, large-diameter shield tunnels, and high-end equipment [1] - The company secured RMB 143.26 billion in orders from the "second curve" businesses, including water conservancy, energy, and ecological protection [1] International Expansion - The overseas new contract value signed amounted to RMB 124.87 billion, a significant increase of 51.6% year-on-year, with growth observed across various sectors including railway, construction, municipal projects, and design consulting [1] - Notable projects won include the Tambor Railway, the China-Kyrgyzstan-Uzbekistan Railway, and the Senegal Kaedugu Lithium Mine [1]