C 
China Railway Construction Heavy Industry Corp 688425.SS · CNY
Industrials · Shanghai · 🇨🇳 China
4.07
-0.97%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥10.05bn
FY2017FY2025
Net income
CN¥1.48bn
FY2017FY2025
Free cash flow
CN¥1.02bn
FY2017FY2025
Shareholders' equity
CN¥18.59bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥10.05bn | CN¥10.05bn | CN¥10.03bn | CN¥10.10bn | CN¥9.52bn | CN¥7.61bn | CN¥7.28bn | CN¥7.93bn | CN¥6.65bn |
| Gross profit | CN¥2.92bn | CN¥3.06bn | CN¥3.14bn | CN¥3.44bn | CN¥3.08bn | CN¥2.60bn | CN¥2.41bn | CN¥2.79bn | CN¥2.24bn |
| Research and development | CN¥801.7m | CN¥913.5m | CN¥881.1m | CN¥928.4m | CN¥677.5m | CN¥552.9m | CN¥468.1m | CN¥411.2m | CN¥407.3m |
| Operating income | CN¥1.67bn | CN¥1.71bn | CN¥1.80bn | CN¥2.04bn | CN¥1.98bn | CN¥1.77bn | CN¥1.71bn | CN¥1.89bn | CN¥1.33bn |
| Net income | CN¥1.48bn | CN¥1.51bn | CN¥1.59bn | CN¥1.84bn | CN¥1.74bn | CN¥1.57bn | CN¥1.53bn | CN¥1.61bn | CN¥1.14bn |
| Diluted earnings per share | 0.28 | 0.29 | 0.30 | 0.38 | 0.32 | 0.44 | 0.29 | 0.30 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥27.30bn | CN¥26.71bn | CN¥25.44bn | CN¥23.79bn | CN¥22.67bn | CN¥17.06bn | CN¥15.16bn | CN¥16.04bn | CN¥15.34bn |
| Cash and short-term investments | CN¥2.38bn | CN¥2.33bn | CN¥1.09bn | CN¥2.15bn | CN¥2.61bn | CN¥1.33bn | CN¥2.37bn | CN¥3.16bn | CN¥2.20bn |
| Total liabilities | CN¥8.69bn | CN¥9.13bn | CN¥8.89bn | CN¥8.28bn | CN¥8.47bn | CN¥8.76bn | CN¥8.01bn | CN¥6.73bn | CN¥7.48bn |
| Debt | CN¥1.28bn | CN¥1.50bn | CN¥1.76bn | CN¥1.27bn | CN¥1.32bn | CN¥2.19bn | CN¥967.4m | CN¥203.7m | CN¥503.2m |
| Shareholders' equity | CN¥18.59bn | CN¥17.56bn | CN¥16.53bn | CN¥15.49bn | CN¥14.17bn | CN¥8.28bn | CN¥7.13bn | CN¥9.30bn | CN¥7.86bn |
| Shares outstanding | 5,333m | 5,288m | 5,392m | 4,882m | 5,386m | 3,535m | 5,333m | 5,333m | 5,333m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥1.10bn | CN¥2.04bn | CN¥703.5m | CN¥1.07bn | −CN¥1.48bn | −CN¥334.8m | CN¥1.75bn | CN¥1.99bn | CN¥386.8m |
| Capital spending | −CN¥82.9m | −CN¥273.3m | −CN¥1.63bn | −CN¥893.0m | −CN¥476.3m | −CN¥324.5m | −CN¥457.5m | −CN¥382.8m | −CN¥506.9m |
| Free cash flow | CN¥1.02bn | CN¥1.77bn | −CN¥926.5m | CN¥177.7m | −CN¥1.96bn | −CN¥659.3m | CN¥1.29bn | CN¥1.61bn | −CN¥120.1m |
| Dividends paid | −CN¥485.1m | −CN¥539.3m | −CN¥554.7m | −CN¥522.7m | −CN¥86.1m | −CN¥1.46bn | −CN¥2.72bn | −CN¥123.5m | −CN¥113.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.09bn | CN¥2.19bn | CN¥3.41bn | CN¥1.80bn | CN¥2.48bn | CN¥2.36bn | CN¥3.25bn | CN¥2.00bn |
| Gross profit | CN¥615.0m | CN¥577.8m | −CN¥300.4m | CN¥506.1m | CN¥743.9m | CN¥717.2m | CN¥957.6m | CN¥628.6m |
| Operating income | CN¥316.6m | CN¥221.5m | CN¥565.5m | CN¥296.8m | CN¥459.6m | CN¥354.8m | CN¥548.9m | CN¥330.6m |
| Net income | CN¥256.3m | CN¥248.4m | CN¥479.0m | CN¥268.6m | CN¥403.3m | CN¥332.2m | CN¥478.5m | CN¥306.5m |
| Diluted earnings per share | 0.05 | 0.05 | 0.09 | 0.05 | 0.08 | 0.06 | 0.09 | 0.06 |
| Cash from operations | — | — | CN¥452.0m | CN¥456.0m | CN¥147.0m | CN¥44.0m | CN¥1.15bn | CN¥538.0m |
| Capital spending | −CN¥4.0m | −CN¥50.0m | −CN¥24.0m | −CN¥25.0m | −CN¥18.0m | −CN¥14.0m | −CN¥266.0m | −CN¥218.0m |
| Free cash flow | — | — | CN¥428.0m | CN¥431.0m | CN¥129.0m | CN¥30.0m | CN¥887.0m | CN¥320.0m |
| Total assets | CN¥27.03bn | CN¥27.33bn | CN¥27.30bn | CN¥27.43bn | CN¥27.06bn | CN¥27.12bn | CN¥26.71bn | CN¥28.12bn |
| Cash and short-term investments | — | — | CN¥2.38bn | CN¥2.37bn | CN¥2.40bn | CN¥2.37bn | CN¥2.33bn | CN¥1.81bn |
| Debt | CN¥240.3m | CN¥440.3m | CN¥1.28bn | CN¥2.90bn | CN¥1.67bn | CN¥3.66bn | CN¥1.50bn | CN¥5.12bn |
| Shareholders' equity | CN¥18.65bn | CN¥18.84bn | CN¥18.59bn | CN¥18.11bn | CN¥17.84bn | CN¥17.89bn | CN¥17.56bn | CN¥17.08bn |
Financial ratios
Data as of 23 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 29.1% | 30.4% | 31.3% | 34.1% | 32.3% | 34.2% |
| Operating margin | 16.6% | 17.0% | 18.0% | 20.2% | 20.8% | 23.3% |
| Net margin | 14.8% | 15.0% | 15.9% | 18.3% | 18.2% | 20.6% |
| Return on equity | 8.0% | 8.6% | 9.6% | 11.9% | 12.2% | 18.9% |
| Return on assets | 5.4% | 5.6% | 6.3% | 7.8% | 7.7% | 9.2% |
| Free cash flow yield | 5.6% | 11.1% | 10.9% | 10.2% | -4.7% | -0.1% |
| Revenue growth | -0.0% | 0.2% | -0.7% | 6.1% | 25.1% | 4.5% |
| Earnings growth | -1.7% | -5.4% | -13.6% | 6.3% | 10.7% | 2.4% |
| Current ratio | 2.13x | 2.18x | 1.92x | 2.16x | 2.03x | 1.24x |
| Debt to equity | 0.07x | 0.09x | 0.11x | 0.02x | 0.03x | 0.20x |
| Equity ratio | 68.1% | 65.7% | 65.0% | 65.1% | 62.5% | 48.5% |
| Interest coverage | 40.30x | 23.02x | 22.52x | 29.88x | 21.02x | 29.32x |
| R&D as a share of sales | 8.0% | 9.1% | 8.8% | 9.2% | 7.1% | 7.3% |
| Buybacks as a share of market value | -0.9% | 1.9% | -10.5% | 9.4% | -52.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.2% | 5.7% | — |
| Operating income | -6.5% | -1.2% | — |
| Net income | -7.0% | -1.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 29.8% | 31.2% | 31.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 18.2 | 15.4 | 13.4 | 10.5 | 15.7 |
| Price to sales | 2.7 | 2.3 | 2.1 | 1.9 | 2.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 7 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.084 | 0.085 | 0.09 | 0.104 | 0.098 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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