CRRC Times Electric sees profit surge in preliminary 2024 data

Zhuzhou CRRC Times Electric (HKEX:3898) has announced preliminary financial data for 2024, revealing significant growth. The company anticipates operating revenue of RMB24,908.9375 million, a 13.42% increase year-on-year, alongside a 32.28% surge in operating profit to RMB4,302.3911 million. Total profit is expected to reach RMB4,332.9786 million, representing a 31.52% increase. Net profit attributable to owners of the parent company is projected to reach RMB3,702.5859 million, a 21.77% rise, with basic earnings per share at RMB2.62. The company attributes the strong performance to its focus on high-quality development, strategic alignment with national goals, and effective capture of opportunities in intelligent, digital, and green development sectors, coupled with improved operational efficiency.