CHINA RAILWAY CONSTRUCTION HEAV

CHINA RAILWAY CONSTRUCTION HEAV — Financial Statements

Annual Quarterly

5 10 All

Income Statement

Balance Sheet

Cash Flow

Line Item	FY 2025Dec 31, 2025	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023	FY 2022Dec 31, 2022	FY 2021Dec 31, 2021	FY 2020Dec 31, 2020	FY 2019Dec 31, 2019	FY 2018Dec 31, 2018	FY 2017Dec 31, 2017
+Revenue	10.0B	10.0B	10.0B	10.1B	9.5B	7.6B	7.3B	7.9B	6.7B
Revenue Growth %	-0.0%	0.2%	-0.7%	6.1%	25.0%	4.5%	-8.2%	19.2%	--
Total Revenue	10.0B	10.0B	10.0B	10.1B	9.5B	7.6B	7.3B	7.9B	6.7B
Cost Of Revenue	7.1B	7.0B	6.9B	6.7B	6.4B	5.0B	4.9B	5.1B	4.4B
+Gross Profit	2.9B	3.1B	3.1B	3.4B	3.1B	2.6B	2.4B	2.8B	2.2B
Gross Margin %	29.1%	30.7%	31.3%	34.1%	32.4%	34.4%	33.1%	35.2%	33.7%
Total Operating Cost	8.7B	8.7B	8.7B	8.4B	8.0B	6.3B	6.0B	6.2B	5.4B
Selling Expenses	298.0M	335.0M	383.0M	368.0M	338.0M	301.0M	254.0M	182.0M	158.0M
Admin Expenses	288.0M	324.0M	334.0M	355.0M	358.0M	337.0M	294.0M	323.0M	296.0M
Rd Expenses	802.0M	914.0M	881.0M	928.0M	678.0M	553.0M	468.0M	411.0M	407.0M
Finance Expenses	15.7M	56.5M	50.4M	5.4M	64.3M	2.0M	-8.6M	-32.4M	8.1M
+Operating Income	1.7B	1.7B	1.7B	2.0B	1.9B	1.8B	1.7B	1.9B	1.3B
Operating Margin %	16.6%	16.5%	17.4%	20.0%	20.2%	23.3%	23.5%	23.8%	20.1%
Non Operating Income	9.1M	7.4M	17.4M	5.9M	8.5M	15.1M	11.6M	11.7M	6.5M
Non Operating Expenses	8.7M	1.2M	426,600	2.7M	1.7M	15.2M	2.9M	36.5M	206,500
Investment Income	197.0M	189.0M	237.0M	213.0M	188.0M	280.0M	259.0M	71.1M	-33.0M
Asset Disposal Income	--	1.1M	--	--	--	--	--	--	-80,400
Asset Impairment Loss	--	28.5M	--	--	--	--	--	--	55.1M
Other Income	127.0M	142.0M	168.0M	148.0M	182.0M	155.0M	129.0M	51.5M	107.0M
Income Before Tax	1.7B	1.7B	1.8B	2.0B	1.9B	1.8B	1.7B	1.9B	1.3B
Income Tax	184.0M	152.0M	168.0M	176.0M	196.0M	203.0M	192.0M	257.0M	202.0M
+Net Income	1.5B	1.5B	1.6B	1.8B	1.7B	1.6B	1.5B	1.6B	1.1B
Net Margin %	14.8%	15.0%	15.9%	18.3%	18.2%	20.6%	21.0%	20.3%	17.1%
Net Income Attributable	1.5B	1.5B	1.6B	1.8B	1.7B	1.6B	1.5B	1.6B	1.1B
Minority Interest	101,200	271,600	375,600	81,600	216,500	673,100	130,100	45,500	700.00
Eps Basic	0.28	0.28	0.30	0.35	0.38	0.41	0.40	--	--
Eps Diluted	0.28	0.28	0.30	0.35	0.38	0.41	--	--	--

Line Item	FY 2025Dec 31, 2025	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023	FY 2022Dec 31, 2022	FY 2021Dec 31, 2021	FY 2020Dec 31, 2020	FY 2019Dec 31, 2019	FY 2018Dec 31, 2018	FY 2017Dec 31, 2017
Cash And Equivalents	2.4B	2.3B	1.1B	2.2B	2.6B	1.3B	2.4B	3.2B	2.2B
Accounts Receivable	8.7B	8.0B	8.6B	7.3B	7.4B	6.1B	4.6B	4.1B	4.1B
Notes Receivable	213.0M	268.0M	333.0M	454.0M	484.0M	186.0M	330.0M	1.3B	303.0M
Notes And Accounts Receivable	8.9B	8.3B	8.9B	7.8B	7.9B	6.3B	4.9B	5.5B	4.4B
Prepayments	141.0M	153.0M	104.0M	129.0M	137.0M	114.0M	75.9M	96.9M	73.3M
Inventory	5.6B	5.3B	4.6B	4.5B	3.5B	2.3B	2.1B	2.1B	2.5B
Total Current Assets	17.4B	16.5B	14.9B	15.1B	14.3B	10.1B	9.7B	11.4B	11.2B
Long Term Equity Investment	2.4B	2.2B	2.2B	2.0B	1.8B	1.6B	1.3B	1.1B	1.1B
Fixed Assets	6.4B	6.7B	7.1B	5.3B	5.2B	4.3B	3.2B	2.5B	2.0B
Fixed Assets Total	6.4B	6.7B	7.1B	5.3B	5.2B	4.3B	3.2B	2.5B	2.0B
Construction In Progress	46.1M	224.0M	220.0M	298.0M	236.0M	31.1M	65.5M	90.6M	309.0M
Construction In Progress Total	46.1M	224.0M	220.0M	298.0M	236.0M	31.1M	65.5M	90.6M	309.0M
Intangible Assets	912.0M	936.0M	949.0M	970.0M	991.0M	746.0M	733.0M	792.0M	768.0M
Total Non Current Assets	9.9B	10.2B	10.5B	8.7B	8.3B	6.9B	5.5B	4.6B	4.2B
Total Assets	27.3B	26.7B	25.4B	23.8B	22.7B	17.1B	15.2B	16.0B	15.3B
Short Term Borrowings	5.3M	12.2M	239.0M	--	--	1.6B	472.0M	--	500.0M
Accounts Payable	4.3B	3.6B	4.2B	3.3B	3.1B	2.9B	2.2B	2.2B	2.7B
Advance Receipts	106.0M	110.0M	--	1.0M	--	--	--	--	818.0M
Contract Liabilities	539.0M	1.1B	775.0M	1.1B	1.1B	728.0M	499.0M	764.0M	--
Total Current Liabilities	8.2B	7.6B	7.8B	7.0B	7.1B	8.1B	7.4B	6.1B	7.0B
Long Term Borrowings	440.0M	1.5B	1.0B	1.1B	1.1B	300.0M	200.0M	181.0M	--
Total Non Current Liabilities	504.0M	1.6B	1.1B	1.3B	1.4B	638.0M	629.0M	657.0M	475.0M
Total Liabilities	8.7B	9.1B	8.9B	8.3B	8.5B	8.8B	8.0B	6.7B	7.5B
Paid In Capital	5.3B	5.3B	5.3B	5.3B	5.3B	3.9B	3.9B	3.9B	3.9B
Capital Reserve	4.1B	4.1B	4.1B	4.1B	4.1B	1.4B	1.4B	61.2M	111.0M
Surplus Reserve	1.3B	1.1B	965.0M	813.0M	634.0M	476.0M	331.0M	644.0M	451.0M
Retained Earnings	7.9B	7.0B	6.1B	5.3B	4.1B	2.5B	1.5B	4.7B	3.4B
Minority Equity	21.4M	21.3M	21.5M	21.1M	21.1M	20.8M	20.2M	20.0M	700.00
Equity Attributable	18.6B	17.6B	16.5B	15.5B	14.2B	8.3B	7.1B	9.3B	7.9B
Total Equity	18.6B	17.6B	16.6B	15.5B	14.2B	8.3B	7.1B	9.3B	7.9B

Line Item	FY 2025Dec 31, 2025	FY 2024Dec 31, 2024	FY 2023Dec 31, 2023	FY 2022Dec 31, 2022	FY 2021Dec 31, 2021	FY 2020Dec 31, 2020	FY 2019Dec 31, 2019	FY 2018Dec 31, 2018	FY 2017Dec 31, 2017
Cash From Sales	10.2B	11.0B	9.3B	10.3B	8.1B	7.8B	8.0B	7.5B	6.4B
Tax Refunds Received	39.7M	66.1M	28.3M	18.2M	1.4M	46.4M	6.5M	2.8M	27.0M
Total Operating Cash Inflow	10.4B	11.4B	9.6B	10.6B	8.4B	8.2B	8.9B	9.8B	7.0B
Cash Paid For Goods	6.9B	6.8B	6.3B	6.8B	7.6B	6.6B	5.2B	5.4B	4.8B
Cash Paid To Employees	1.3B	1.4B	1.4B	1.4B	1.2B	985.0M	950.0M	848.0M	697.0M
Taxes Paid	496.0M	448.0M	518.0M	726.0M	490.0M	437.0M	476.0M	843.0M	558.0M
Total Operating Cash Outflow	9.3B	9.3B	8.9B	9.5B	9.9B	8.6B	7.2B	7.8B	6.6B
Operating Cash Flow	1.1B	2.0B	704.0M	1.1B	-1.5B	-335.0M	1.8B	2.0B	387.0M
Total Investing Cash Inflow	1.4M	558,300	40,200	4,000	62.7M	922,800	95.6M	326,900	365,100
Total Investing Cash Outflow	82.9M	280.0M	1.6B	893.0M	476.0M	344.0M	458.0M	383.0M	510.0M
Investing Cash Flow	-81.6M	-279.0M	-1.6B	-893.0M	-414.0M	-343.0M	-362.0M	-382.0M	-510.0M
Cash From Borrowings	116.0M	2.6B	3.6B	3.0B	3.2B	2.3B	769.0M	401.0M	700.0M
Dividends And Interest Paid	485.0M	539.0M	629.0M	588.0M	86.1M	1.5B	2.7B	124.0M	113.0M
Debt Repayments	597.0M	2.6B	3.1B	3.0B	4.1B	1.1B	23.0M	702.0M	201.0M
Total Financing Cash Inflow	116.0M	2.6B	3.6B	3.0B	7.4B	2.3B	769.0M	421.0M	706.0M
Total Financing Cash Outflow	1.1B	3.1B	3.7B	3.6B	4.2B	2.5B	2.7B	826.0M	314.0M
Financing Cash Flow	-970.0M	-496.0M	-183.0M	-643.0M	3.2B	-250.0M	-2.0B	-405.0M	391.0M
Net Change In Cash	65.0M	1.3B	-1.1B	-452.0M	1.3B	-931.0M	-583.0M	1.2B	266.0M
Ending Cash Balance	2.4B	2.3B	1.0B	2.2B	2.6B	1.3B	2.2B	2.8B	1.6B
Capex	82.9M	273.0M	1.6B	893.0M	476.0M	324.0M	458.0M	383.0M	507.0M