Trade Zhuzhou CRRC Times Electric Co. Ltd. - 3898 CFD

Zhuzhou CRRC Company profile

About Zhuzhou CRRC Times Electric Co Ltd

Zhuzhou CRRC Times Electric Co Ltd is a company mainly engaged in the research and development (R&D), design, manufacturing and sales of rail transit equipment products. The Company is also engaged in R&D, design, manufacturing and sales of emerging equipment. The rail transit equipment business mainly includes rail transit electrical equipment, such as traction converter system, information and intelligent system products, power supply system and test equipment, and rail engineering machinery and communication signal system. The emerging equipment business includes power semiconductor devices, industrial converter products, electric drive systems of new energy vehicles, sensor devices and marine engineering equipment.

Financial summary

BRIEF: For the nine months ended 30 September 2021, Zhuzhou CRRC Times Electric Co Ltd revenues decreased 14% to RMB8.53B. Net income decreased 20% to RMB1.2B. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Credit impairment, net increase from RMB7.5M (income) to RMB51.3M (expense), Other income decrease of 9% to RMB346.3M (income).