China Railway Signal & Communication Corporation Limited (CRSC) reported first-quarter 2026 revenue of RMB 6.46 billion, down 3.52% year on year. Net profit attributable to shareholders fell 7.16% to RMB 521.45 million, while total profit declined 8.53% to RMB 752.98 million. Basic and diluted EPS were unchanged at RMB 0.05.

A softer top-line was driven by mixed trends across end-markets. Railway projects contributed RMB 3.81 billion, rising 11.49% and accounting for nearly 59% of total sales. Urban transit revenue contracted 27.28% to RMB 1.43 billion, visibly weighing on overall growth. Overseas business advanced 37.98% to RMB 413 million, whereas construction contracting dropped 24.27% to RMB 765 million. “Other” activities generated RMB 52 million, more than triple last year’s level.

New orders remained resilient. Aggregate newly-signed external contracts reached RMB 7.55 billion, up 4.63% year on year. Railway sector orders climbed 9.36% to RMB 4.62 billion, partially offsetting a 5.03% slide in urban transit contracts and a sharp 76.95% fall in overseas awards. Contracts in construction and other businesses increased 43.41% to RMB 572 million, while the emerging low-altitude economy segment secured RMB 142 million.

Operating cash outflow narrowed markedly to RMB 1.39 billion from RMB 4.00 billion a year earlier, aided by higher collections at the group’s finance subsidiary. Cash and cash equivalents stood at RMB 13.60 billion at quarter-end, down RMB 1.56 billion from the start of the year. Total assets eased 1.27% to RMB 116.82 billion, whereas equity attributable to shareholders inched up 1.09% to RMB 50.38 billion. Weighted average ROE softened by 0.12 percentage points to 1.04%.

CRSC increased research and development expenditure by 8.12% to RMB 429.78 million, lifting the R&D-to-sales ratio to 6.65% from 5.93% a year earlier.

Major shareholder China Railway Signal and Communication (Group) Corporation Limited held 62.46% of CRSC’s share capital as of 31 March 2026; HKSCC Nominees Limited was the second-largest holder with an 18.58% stake.

The unaudited figures were prepared under China Accounting Standards for Business Enterprises and released on 29 April 2026.