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<Research>Citi Prefers TIMES ELECTRIC as CRRC Sees Major Slowdown in 2Q25 Earnings Growth
Citi has released a research report estimating that CRRC (01766.HK)'s net profit for 1H25 will grow by 60-80% YoY to RMB6.72-7.56 billion, representing a YoY increase of 15-41%...
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<Research>Citi Prefers TIMES ELECTRIC as CRRC Sees Major Slowdown in 2Q25 Earnings Growth
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Citi has released a research report estimating that CRRC (01766.HK)  +0.120 (+2.260%)    Short selling $14.51M; Ratio 8.125%   's net profit for 1H25 will grow by 60-80% YoY to RMB6.72-7.56 billion, representing a YoY increase of 15-41% in the 2Q earnings to RMB3.67-4.51 billion.

Compared to 1Q25, CRRC's 2Q earnings growth significantly slowed but still managed to beat market expectations. As the first batch of high-speed MU bids decreased by 59% YoY to 68 units, however, Citi expected the company's earnings growth in 2H to continue slowing, potentially declining by 22-32% YoY.

As a result, Citi kept the rating for CRRC as Neutral with a target price of HKD5.4 despite its vigorous preliminary performance in 1H. Compared to CRRC, the broker was more bullish on TIMES ELECTRIC (03898.HK)  +0.350 (+1.109%)    Short selling $4.15M; Ratio 6.447%   .
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 16:25.)

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