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China Railway Signal & Communication Posts 2% Higher Q3 Profit
China Railway Signal & Communication 9-Mos Net CNY2.36B Vs. Net CNY2.57B >3969.HK
Performance: china railway signal & communication corporation (03969.HK) earned 2.359 billion RMB in the first three quarters.
China Railway Signal & Communication Corporation (03969.HK) announced the performance for the first three quarters ending in September, realizing revenue of 20.814 billion RMB according to Chinese accounting standards, a year-on-year decrease of 15.5%. Net profit attributable to shareholders was 2.359 billion yuan, a decrease of 8.1%, with an EPS of 22 cents.
Third Quarter Report 2024
Pressure on rail transit business, China Railway Signal & Communication Corporation's revenue and net profit both declined in the first three quarters, speeding up the layout of low-altitude economy.
①Yao Guiqing stated that although national policies are tightening, the construction of urban rail transit systems has temporarily slowed down in some regions due to factors such as local debt risks, but there are sufficient existing projects under construction and in planning nationwide to support industry development; ②Regarding the industrialization of low-altitude economy, Yao Guiqing mentioned that the company has already obtained the "Civil Unmanned Aerial Vehicle Operation Certificate", and it is expected that low-altitude economy-related operations will have a positive impact on the company's performance.
CHINA CRSC: 2024 THIRD QUARTERLY REPORT
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