CRCC High-Tech Equipment Corporation (CRCCE) reported a 3.29% year-on-year increase in revenue to RMB1.79 billion for the six months ended 30 June 2026. Net profit attributable to shareholders rose 3.55% to RMB69.09 million, supported by tighter cost discipline and higher government subsidies, despite a 1.29-percentage-point contraction in gross margin to 14.86%.\n\nSegment performance varied. Parts and components sales climbed 7.35% to RMB659.90 million, maintenance services advanced 9.19% to RMB596.27 million, and mechanical design revenue surged 32.43% to RMB75.06 million. Machinery sales declined 10.89% to RMB383.89 million as some units remained under production. Railway line maintenance services slipped 4.91% to RMB66.87 million.\n\nCost of sales increased 4.89%, outpacing revenue growth, while selling and administrative expenses fell 25.28% and 2.05%, respectively. R&D spending rose 5.75% to RMB86.94 million, reflecting continued product development. Finance swung to a loss of RMB3.37 million on foreign-exchange movements, and impairment provisions totaled RMB6.19 million.\n\nOther gains nearly doubled to RMB12.62 million, primarily due to higher government grants. Operating cash flow improved significantly to an inflow of RMB89.69 million versus an outflow of RMB272.35 million in the prior-year period, helped by payment-schedule adjustments. Net cash decreased by RMB325.97 million after CRCCE placed RMB400 million in longer-dated time deposits.\n\nThe balance sheet remained debt-free, with cash and cash equivalents of RMB1.19 billion and a gearing ratio of 20.70% (31 December 2025: 13.48%) after accounting for higher trade payables. Capital commitments contracted but not provided for stood at RMB11.52 million.\n\nLooking ahead, management will focus on high-end, intelligent and green product upgrades, expand domestic and overseas market reach, and accelerate commercialisation of R&D outputs to underpin growth during the 15th Five-Year Plan period.