Report
John Hu
EUR 147.86 For Business Accounts Only

CRG Reported Solid Q1'16 Result; Strong New Order Growth Warrants Stable Topline Outlook

China Railway Group, or CRG’s first-quarter result was broadly in line with our expectation. The net income rose 9.8% year on year to CNY 2.2 billion on margin expansion, while revenue was up marginally by 1.3% year on year to CNY 127 billion. Despite the somewhat lackluster topline growth in the first quarter, the 20.6% year-on-year growth in new contracts signed leads us to expect revenue growth will accelerate later this year, while the solid new contract volume growth in high-margin noninfra...
Underlying
China Railway Group Limited Class A

China Railway Group is engaged in infrastructure construction, survey, design and consulting services, engineering equipment and component manufacturing and property development; Through its subsidiaries, Co. is also engaged in the provision of engineering consulting services; construction and survey supervision services; manufacture of bridge steel structures, railway specialized equipment and tunnel equipment; construction management; investment and management; financial trust management; and mining. Co. has 5 business segments: infrastructure construction; survey, design and consulting services; engineering equipment and component manufacturing; property development; and other businesses.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
John Hu

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