CRRC Corporation Limited Signs Significant Contracts Totaling RMB36.34 Billion

Date: 29 April 2026
Company: CRRC Corporation Limited (Stock Code: 1766)

Key Highlights

• Total contract value: Approximately RMB36.34 billion
• Period covered: Mainly from December 2025 to April 2026
• Contracts account for: ~13.3% of the company’s projected 2025 revenue under PRC accounting standards
• Wide-ranging deals: Involvement in multiple sectors including urban rail transit, wind power, energy storage, and both domestic and international railway projects

Detailed Breakdown of Contracts

1. Urban Rail Transit Vehicles:
   • Subsidiaries entered into contracts with Sichuan Chengmei Rail Transit Co., Ltd., Shenyang Metro Group Co., Ltd., and Phuong Nam Supply Limited Liability Company (Vietnam-based)
   • Scope: Sales and maintenance of urban rail transit vehicles
   • Aggregate value: ~RMB9 billion
2. Wind Power & Energy Storage Equipment:
   • Contracts with Goldwind Science & Technology Co., Ltd., Gansu Minqin Shagehuang Green Energy Co., Ltd., and Xinjiang Yue Hydropower Energy Storage Technology Co., Ltd.
   • Scope: Sales of wind power and energy storage equipment
   • Aggregate value: ~RMB7.87 billion
3. Locomotive Overhauls:
   • Contracts with various railway bureaus of China State Railway Group Co., Ltd. and Акционерное общество открытого типа «Демирёллары» (Turkmenistan-based)
   • Scope: Overhauls of locomotives
   • Aggregate value: ~RMB5.47 billion
4. Freight Wagon Sales:
   • Contracts with China State Railway Group Co., Ltd. and The Pilbara Infrastructure Pty Ltd. (Australia-based)
   • Scope: Sales of freight wagons
   • Aggregate value: ~RMB5.22 billion
5. Power-Concentrated Multiple Units (MUs):
   • Contracts with China State Railway Group Co., Ltd.
   • Scope: Sales of power-concentrated MUs
   • Aggregate value: ~RMB3.38 billion
6. Freight Wagon Overhauls:
   • Contracts with railway bureaus of China State Railway Group Co., Ltd.
   • Scope: Overhauls of freight wagons
   • Aggregate value: ~RMB2.23 billion
7. Advanced Overhauls of MUs:
   • Contracts with railway bureaus of China State Railway Group Co., Ltd.
   • Scope: Advanced overhauls of MUs
   • Aggregate value: ~RMB2.18 billion
8. Locomotive Sales (International Deals):
   • Contracts with Shandong Port Rizhao Port Group Co., Ltd., Martinus Haulage Assets Holdings Pty Ltd. (Australia-based), and BBL Logistik GmbH (Germany-based)
   • Scope: Sales of locomotives
   • Aggregate value: ~RMB0.99 billion

Key Points for Shareholders

• Significant Revenue Impact: The total value of the new contracts represents approximately 13.3% of the company’s projected revenue for 2025, indicating a strong pipeline and positive business momentum.
• Diversified Customer Base: The contracts span both domestic and international markets, with partners in China, Vietnam, Turkmenistan, Australia, and Germany. This diversification helps reduce reliance on a single market.
• Business Segments Expansion: The deals cover key growth areas, including urban rail transit, wind power, and energy storage, signaling CRRC’s strategic focus on both traditional and renewable infrastructure sectors.
• Potential Share Price Catalyst: Given the scale and diversity of these contracts, and their substantial portion of next year’s revenue, the news is likely to be viewed positively by the market and may have a material impact on the company’s share price.
• Ongoing Internationalization: The inclusion of high-profile overseas contracts demonstrates CRRC’s ongoing efforts to expand its global footprint and brand recognition.

Corporate Governance Note

The announcement was authorized by the Board of Directors, chaired by Mr. Sun Yongcai. The current board includes executive directors, independent non-executive directors, one non-executive director, and an employee director, reflecting a diverse and experienced leadership team.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should exercise their own judgment and consult with their financial advisers before making investment decisions. While care has been taken to ensure accuracy, no liability can be accepted for any loss arising from reliance upon this information.

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