1. People's Republic of China Stocks

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    Industrials

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    Engineering & Construction
China Railway Group Limited

China Railway Group Limited

0390.HK
China Railway Group LimitedHK flagHong Kong Stock Exchange
3.37
HKD
+0.08
- -
119.02BMarket Cap
China Railway Group Limited
0390.HK
(Hong Kong Stock Exchange)

Recent

price

3.37

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
22.42
21.62
22.73
26.3
28.5
26.99
26.59
28.87
30.91
34.14
37.27
40.3
44.22
48.83
45.14
40.51
33.15
Revenue per Share
0.35
0.31
0.35
0.44
0.48
0.53
0.52
0.67
0.72
0.95
0.96
1.04
1.2
1.29
1.09
0.85
0.63
Basic EPS, GAAP
-0.65
-1.12
-0.65
-0.09
0.46
0.68
1.72
0.75
-0.29
0.08
-0.47
-1.61
-0.72
-0.78
-1.17
-1.17
-2.18
Free Cash Flow per Basic Share
0.33
0.33
0.5
0.57
0.59
0.53
0.46
0.44
0.49
0.6
0.66
0.7
0.8
0.89
0.85
0.9
0.59
Dividend per Share
1.61
1.84
2.13
2.5
2.84
3.09
3.29
3.75
4.3
4.9
5.34
5.96
6.91
7.96
8.78
8.81
9.81
Book Value per Share
1.79
1.84
1.97
2.43
2.79
3.79
3.99
4.92
6.72
8.35
9.09
8.8
9.74
10.16
10.29
9.17
10.02
Tangible Book Value per Share
21,133
21,306
21,297
21,306
21,494
23,128
24,196
24,016
23,953
24,924
26,156
26,632
26,104
25,875
25,702
26,995
24,627
Basic Weighted Avg Shares
473,725
460,720
483,992
560,444
612,559
624,104
643,357
693,367
740,436
850,884
974,749
1,073,272
1,154,358
1,263,475
1,160,311
1,093,494
816,363
Sales/Revenue/Turnover
2.37
2.78
2.92
2.81
3.39
3.31
3.3
4.44
4.49
4.43
4.71
4.69
4.46
4.73
4.63
4.51
4.48
Operating Margin (%)
5,105
6,359
6,179
6,712
6,962
7,769
8,654
8,881
9,817
11,302
10,464
10,607
11,176
13,189
15,139
19,976
- -
Depreciation Expense
7,397
6,690
7,390
9,375
10,360
12,258
12,509
16,067
17,198
23,678
25,188
27,618
31,273
33,483
27,887
22,892
15,562
Net Income, GAAP
21.23
24.59
24.13
25.43
30.28
27.72
28.12
27.32
23.23
19
18.37
18.93
17.89
18.31
20.87
21.45
24.6
Effective Tax Rate (%)
1.56
1.45
1.53
1.67
1.69
1.96
1.94
2.32
2.32
2.78
2.58
2.57
2.71
2.65
2.4
2.09
1.91
Profit Margin (%)
33,569
54,331
68,544
82,646
74,162
94,962
88,305
62,127
29,221
33,496
36,643
12,928
25,193
-4,947
-12,105
-54,919
-62,225
Working Capital
44,394
73,606
87,899
102,399
92,734
93,748
91,361
83,556
84,026
114,812
162,913
196,114
280,890
312,690
366,422
422,112
439,679
LT Debt
74,289
81,350
88,160
96,800
109,064
139,401
149,159
169,720
222,144
245,475
313,194
358,343
423,018
459,902
510,140
540,598
546,552
Total Equity
6.2
5.07
4.47
4.26
4.9
4.81
4.76
6.75
6.77
6.88
7.23
6.66
5.71
5.75
4.46
3.63
2.43
Return on Invested Capital (%)
8.19
6.18
5.81
5.76
5.92
6.84
6.51
8.1
7.14
7.69
7.04
6.3
5.74
5.37
4.23
3.16
2.28
Return on Capital (%)
23.57
18.27
17.48
19.01
18.13
18.5
16.57
18.94
17.82
21.03
19.23
18.51
18.45
17.34
12.92
9.88
6.58
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
155,892
182,873
LT Borrowings
- -
418,701
436,496
LT Finance Leases
- -
3,411
3,182
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
24,686
24,686
Market Capitalization
88,403
84,635
87,547

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
1,339,667
1,278,026
Cash, Cash Equivalents & STI
- -
266,300
194,282
Accounts Receivable, Net
- -
288,878
281,086
Inventories
- -
235,608
248,739
Total Current Liabilities
- -
1,394,586
1,340,251
Payables & Accruals
- -
- -
- -
ST Debt
- -
155,892
182,873
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.78%
11.62%
5.97%
Free Cash Flow
-63.4%
50.81%
5.22%
Net Income, GAAP
7.69%
-0.93%
-17.91%
Sales/Revenue/Turnover
6.03%
2.64%
-5.76%
Total Cash Common Dividend
7.7%
7.4%
11.11%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
265,646
278,877
275,761
340,028
1,160,311
2025
249,283
263,219
- -
317,435
1,093,494
2026
235,710
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.29
- -
- -
- -
1.09
2025
0.24
- -
- -
- -
0.85
2026
0.18
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.18
- -
- -
- -
0.85
2025
0.18
- -
- -
- -
0.9
2026
0.15
- -
- -
- -
- -
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Business
China Railway Group Limited (CREC) is a super-large state-owned conglomerate headquartered in Beijing, China, and founded in 1950 as a multi-functional integrated construction company primarily engaged in engineering survey, design and construction; industrial equipment manufacturing; real estate development; resources and mining development; financial investment; and other businesses such as asset management, merchandise trading, and service concession operations. It operates through key segments including Infrastructure Construction, which builds railways, highways, bridges, tunnels, buildings, irrigation works, hydroelectricity projects, ports, docks, airports, municipal works, and urban rail transit including subways and light railways; Design and Consulting Services, providing survey, design, consulting, research and development, feasibility studies, and compliance certification for infrastructure projects; Engineering Equipment and Component Manufacturing, designing, developing, manufacturing and selling turnouts, bridge steel structures, railway-related equipment, engineering machinery, components and materials; Property Development, developing, managing and selling residential and commercial properties; and Other Businesses encompassing mining, financial services, highway operations and information technology. CREC conducts business across all provinces in Mainland China and in more than 90 countries and regions worldwide, with leading positions in bridge, tunnel, subway construction and railway electrification technologies, and holds qualifications for special-grade general contracting of railway projects and grade-A contracting for roads, municipal facilities, bridges and tunnels. In recent developments, subsidiaries won bids for three major sections of the Kyrgyzstan portion of the China-Kyrgyzstan-Uzbekistan Railway in June 2025, valued at RMB5.34 billion to enhance Belt and Road connectivity; in October 2025, the company agreed to acquire minority equity interests totaling approximately 18% in China Railway 11 Bureau, 14% in China Railway Construction, 13% in CRCC Investment, and 29% in Kunlun Investment from eight investors including Taiping Life and various financial asset management firms for RMB11 billion in cash, making these subsidiaries wholly-owned upon completion; and new contract amounts reached RMB476.23 billion in Q3 2025, with 1-3Q25 totaling significant growth amid ongoing infrastructure focus.