CRRC recently released the 2021 annual report. During the reporting period, the company achieved operating income of 225,731,755 thousand yuan, a year-on-year decrease of 0.85%; net profit attributable to shareholders of the listed company was 10,302,605 thousand yuan, a year-on-year decrease of 9.08%. The net cash flow from operating activities during the reporting period was RMB 20,592,700,000, and the net assets attributable to shareholders of the listed company by the end of 2021 were RMB 148,574,346,000. In 2021, the company will achieve operating income of 225.732 billion yuan, a decrease of 0.85%; the net profit of shareholders of listed companies will be 10.303 billion yuan, a decrease of 9.08%. At the end of December 2021, the company’s total consolidated assets were 426.826 billion yuan, an increase of 8.78%; the net assets attributable to shareholders of listed companies were 148.574 billion yuan, an increase of 3.88%, and the asset-liability ratio was 57.29%, an increase of 0.40 percentage points from the beginning of the year. In 2021, the company will sign new orders of about 221 billion yuan, of which the international business has new orders of about 35 billion yuan; at the end of the period, the orders on hand will be about 220.3 billion yuan, of which the international business orders will be about 86 billion yuan.
The operating income of the railway equipment business increased by 0.22% over the same period of the previous year, mainly due to the increase in the income of the locomotive and passenger car business. Operating costs increased by 2.40% compared to the same period of the previous year, mainly due to different product types, which caused the increase in costs to be slightly higher than the increase in revenue. The operating income of the urban rail and urban infrastructure business decreased by 6.01% over the same period of the previous year, mainly due to the decrease in the income of urban rail vehicles. Operating costs decreased by 7.08% over the same period of the previous year, mainly due to the decrease in operating costs with the decrease in operating income. The operating income of the new industry business increased by 0.14% over the same period of the previous year, mainly due to the increase in the income of the general electromechanical business. Operating costs increased by 5.86% over the same period of the previous year, mainly due to different product types, which made the cost increase slightly higher than the revenue increase. The operating income of the modern service business increased by 17.23% over the same period of the previous year, which was mainly due to the increase in the income from the leasing and logistics business in the current period. Operating costs increased by 12.85% over the same period of last year, mainly due to the increase in operating costs with the increase in operating income. The company’s operating income decreased by 0.85% over the same period of the previous year. Railway equipment business, urban rail and urban infrastructure business, new industry business, and modern service business accounted for 40.17%, 24.17%, 31.82%, and 3.84% of the total revenue, respectively. Among them, in the railway equipment business, the locomotive business income was 22.905 billion yuan, the passenger car business income was 10.699 billion yuan, the EMU business income was 41.099 billion yuan, and the freight car business income was 15.982 billion yuan. In the urban rail and urban infrastructure business, the revenue from urban rail vehicles was RMB 47.900 billion. The income from wind power business in the new industry business was RMB 30.242 billion. In the railway equipment business, the revenue from the repair and modification of railway equipment was 34.000 billion yuan. The company sold 744 locomotives, 1,019 passenger cars, 1,292 EMUs, 33,739 freight cars and 8,045 urban rail transits. During the reporting period, the company’s operating income in mainland China decreased by 2.32%. The operating income from other countries or regions increased by 17.41%, which was mainly due to the increase in the income from overseas passenger cars and urban rail subway business in the current period.
