CRRC’s net profit in the first quarter is expected to decrease by 70%-90%, and its stock price has fallen by more than 86% from its historical high in 2015
On the 12th, CRRC announced that, according to the preliminary calculation of the company’s financial department, it is expected that the net profit attributable to shareholders of the listed company in the first quarter of 2022 will be reduced by 9.39 billion yuan compared with the 1.341 billion yuan (statutory disclosure data) in the same period of the previous year. RMB 100 million to RMB 1.207 billion, a year-on-year decrease of 70%-90%. Net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses: -251 million yuan to 0 million yuan.
Regarding the main reason for the pre-decrease in performance, CRRC explained that the decline in the company’s performance during the reporting period was mainly due to the continued impact of the new crown epidemic on railway passenger transport and other reasons, and the decline in sales of related major products in the current period.
On March 31, CRRC disclosed in the “2021 Annual Report” that the operating income in 2021 was 225.732 billion yuan, a year-on-year decrease of 0.85%; the net profit attributable to shareholders of the listed company was 10.303 billion yuan, a year-on-year decrease of 9.08%.
As of the most recent trading day, CRRC closed at 5.26 yuan on the A-share market, down 86.7% from the all-time high price of 39.47 yuan in April 2015.7