Summary by Futu AI
China Central Automobile Co., Ltd. (CRRC) announced its first quarter results for 2024 on 12 April 2024. According to preliminary estimates, the company expects net profit attributable to shareholders of listed companies to reach RMB9.23 billion to RMB 10.46 billion in the first quarter of 2024, an increase of 50%-70% year-on-year. NET PROFIT AFTER NON-RECURRING LOSSES IS EXPECTED TO BE RMB5.83 BILLION TO RMB 7.6 BILLION, A SIGNIFICANT INCREASE OF 186%-246% YEAR-ON-YEAR. In the same period last year, the company achieved a net profit of RMB6.15 billion and earnings per share of RMB0.02. The increase in results was mainly due to changes in the Company's product delivery structure and the first quarter of last year as a result of a smaller year-over-year profit margin. The Company notes that there are no significant uncertainties affecting the accuracy of the results announcement. Investors should note that the above data are preliminary estimates and are ultimately based on the Company's officially disclosed quarterly reports and should be mindful of investment risks.
