CRRC Corporation (01766) rose nearly 4%, as of the time of this report, it increased by 3.93%, trading at 5.03 Hong Kong dollars, with a transaction amount of 0.11 billion Hong Kong dollars.
According to Zhitong Finance APP, CRRC Corporation (01766) rose nearly 4%, as of the time of writing, it increased by 3.93%, priced at 5.03 Hong Kong dollars, with a transaction volume of 0.11 billion Hong Kong dollars.
In terms of news, CRRC Corporation announced that the company has recently signed several contracts (mainly for August to December 2024), with a total amount of approximately 69.35 billion yuan, about 29.6% of the company’s revenue under Chinese accounting standards for 2023. In addition, on December 29, the CR450 train prototype was released in Peking. Galaxy Securities believes that the release of the CR450 has further expanded and upgraded the spectrum of CRRC's high-speed rail products. In the future, as the higher-speed CR450 trains gradually enter commercial operation, the profitability of the company’s railroad equipment business is expected to improve. Additionally, the flexibility in updating railroad locomotives is expected to be gradually released. In June of this year, the company released 7 new energy locomotives, which are expected to benefit significantly from the locomotive replacement process.
