CRSC wins CNY 3.79bn in rail transit projects

China Railway Signal & Communication Corporation (SSE:688009) announced that it has won bids for eleven key rail and urban transit projects totaling approximately CNY 3.79 billion. The contracts include eight railway market projects, such as the Ordos Dalad Economic Development Zone railway project (CNY 697 million) and the Shijiazhuang-Xiong'an intercity railway project (CNY 489 million). Furthermore, the company has secured three urban rail transit projects, including a contract for the Dubai Metro Blue Line project, valued at approximately AED 690 million, and the Shenyang Metro Line 9 Phase II project at CNY 123 million. The contracts are subject to customary terms and conditions, and the company cautioned that the impact on 2025 earnings is uncertain due to the projects' multi-year implementation timeline and potential exchange rate fluctuations for the Dubai project.