CRRC Sees H1 Net Profit Surging Up to 80% on Sales Boost; Shares Rise 7%
MT Newswires Live
Jul 14
CRRC (HKG:1766, SHA:601766) said it expects net profit attributable to shareholders to rise between 60% and 80% year over year to between 6.72 billion yuan and 7.56 billion yuan for the first half, according to a July 11 Hong Kong bourse filing.
The company's Hong Kong shares were up about 7% in recent Monday trade.
Profit after non-recurring items is projected to surge 85% to 110% to between 6.22 billion yuan and 7.06 billion yuan, up from 3.36 billion yuan a year prior.
The company attributed the improvement to increased product sales during the period.
In the first half of 2024, CRRC reported net profit of 4.20 billion yuan and earnings per share of 0.15 yuan.
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