该行指出，2024 年前三季度铁路客运量增长13.8%，为应对春运需求，年底动车组招标仍有预期空间。前三季度修理改装收入约300 亿元，同比有较大增长；动车组高级修招标量持续超预期，高附加值的五级修占比显著提升，有望带动盈利水平进一步上行。CRRC Corporation (01766) rose nearly 4%, as of the press release, up 3.85% to HK$5.39, with a turnover of 69.6269 million Hong Kong dollars.
According to the Wise Financial APP, CRRC Corporation (01766) rose nearly 4%, up 3.85% to HK$5.39, with a turnover of 69.6269 million Hong Kong dollars.
CSC Securities has released a research report stating that in the third quarter of 2024, the company continued the high prosperity of the first half of the year, with steady growth in revenue and profit in the first three quarters. The revenue from railroad equipment with a gross margin advantage still maintains a leading growth rate. Among the company's four major business sectors, the revenue growth rate of railroad equipment leads, with a significant increase of 87.34% in EMU revenue, driving the profit level higher. Looking ahead to the full year 2024 and beyond, the company will benefit from both new markets and equipment upgrades.
The bank pointed out that in the first three quarters of 2024, railway passenger traffic increased by 13.8%. To meet the demand of the Spring Festival travel season, there is still expected bidding space for EMUs at the end of the year. The revenue from maintenance and refurbishment in the first three quarters is about 30 billion yuan, showing a significant year-over-year growth; the quantity of advanced maintenance bids for EMUs continues to exceed expectations, with a significant increase in the proportion of high value-added level 5 maintenance, which is expected to drive the profit level further upward.
