China Railway (00390) has released its interim results for 2026, with the group reporting total revenue of RMB 473.107 billion for the period, a decrease of 7.7% year-on-year. Profit attributable to owners of the company stood at RMB 8.655 billion, down 26.8% compared to the same period last year, with basic earnings per share of RMB 0.32.

During the first half of the year, the company achieved newly signed contracts amounting to RMB 1.00568 trillion, revenue of RMB 473.107 billion, and profit before income tax of RMB 13.548 billion. The cash-to-revenue ratio improved by 16.13 percentage points year-on-year, while the debt-to-asset ratio decreased by 0.7 percentage points from the beginning of the year. Trade payables and notes payable were reduced by RMB 70.715 billion compared to the start of the year.

Amid a challenging environment marked by shrinking industry demand and intensifying competition, the company managed to stabilize its core business and demonstrated considerable resilience. It has intensified efforts in project contract management, implemented upgraded management for key and difficult projects, and strengthened the coordinated allocation of resources to ensure project construction progress. The company also carried out dedicated campaigns to accelerate receivable collections, bolstered cash flow control, expedited the disposal of inefficient and non-performing assets, and effectively reduced its debt-to-asset ratio, thereby safeguarding the security of its capital chain.