China Railway (00390) declined more than 5% after the release of its quarterly earnings. As of the time of writing, the stock was down 5.49% to HK$3.79, with a turnover of HK$140 million. The company reported its first-quarter results, showing a revenue of approximately RMB 234.998 billion, a decrease of 5.46% year-on-year. Net profit attributable to shareholders was about RMB 4.359 billion, down 27.65% compared to the same period last year. During the period, the value of newly signed contracts was RMB 338.51 billion, a decline of 39.6% year-on-year. This included domestic new contract values of RMB 305.73 billion, down 38.2%, and overseas new contract values of RMB 32.78 billion, a decrease of 50.1%.