CRRC (HKG:1766, SHA:601766), the Chinese rolling stock manufacturer, saw its shares plummet 7.92% in Hong Kong trading on Monday, following the release of its 2024 financial results that fell short of market expectations.
The company reported a 5.8% increase in net profit attributable to shareholders, reaching 12.4 billion yuan for the year 2024. However, earnings per share of 0.43 yuan missed analysts' estimates of 0.47 yuan, according to Visible Alpha. Revenue climbed 5.2% to 246.5 billion yuan, but also fell short of the forecasted 250.1 billion yuan.
Despite proposing a cash dividend of 0.21 yuan per share, investors appeared disappointed with the results. The earnings miss and lower-than-expected revenue growth likely contributed to the significant sell-off, with CRRC's shares in Hong Kong dropping over 6% and its Shanghai-listed shares falling more than 3% in recent trades. This sharp decline reflects investor concerns about the company's performance and future growth prospects in the competitive rolling stock manufacturing industry.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。