China Railway Group Limited

China Railway Group Limited

CRWOF
China Railway Group LimitedUS flagOther OTC
0.41
USD
- -
- -
15.25BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
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
Basic EPS, GAAP
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
Free Cash Flow per Basic Share
-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
Dividend per Share
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
Book Value per Share
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
Tangible Book Value per Share
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
Basic Weighted Avg Shares
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
Sales/Revenue/Turnover
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
Operating Margin (%)
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
Depreciation Expense
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
- -
Net Income, GAAP
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
Effective Tax Rate (%)
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
Profit Margin (%)
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
Working Capital
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
LT Debt
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
Total Equity
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
Return on Invested Capital (%)
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 Capital (%)
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 Common Equity (%)
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

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
85,109
85,495
92,097

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
- -
- -
- -
- -

Company Description

APIChat
CEO
Wenjian Chen
Full Time Employees
297,359
Sector
Industrials
Industry
Engineering & Construction
Address
Block A Beijing People's Republic of China 100039
IPO Date
Jan 8, 2021
Website
crec.cn
Business
China Railway Group Limited (CREC) is a leading multinational infrastructure construction conglomerate headquartered in Beijing, China, founded in 2007. The company operates primarily in the construction industry with a comprehensive portfolio of products and services including railways, highways, municipal facilities, urban rail transit, tunnels, bridges, airports, harbors, water conservancy, hydropower stations, and real estate development. CREC also engages in engineering survey and design, industrial equipment manufacturing, technical consulting, capital management, resources and mining development, and financial investment. CREC holds a significant share in the Chinese construction market and undertakes large-scale infrastructure projects overseas, particularly in Southeast Asia, Africa, and other international regions. Among its core industrial products are tunnel boring machines (TBMs), railway turnout systems, bridge steel structures, shielding machines, and various high-end construction machinery used in railway and urban transit construction. The company is recognized as one of the world's top infrastructure engineering contractors, with technical leadership in bridge construction technology, railway electrification, and tunnel and subway construction in China. Recently, CREC has intensified its strategic focus on digitalization, efficient resource utilization, and carbon reduction aligning with the Chinese government's national priorities under the current Five-Year Plan. In 2024, CREC reported planning new contract signings worth approximately EUR 357 billion and targeting revenue near EUR 144 billion, reflecting its ongoing expansion and operational efficiency drive. The company has also reinforced its competitive edge by strengthening international partnerships and innovation capabilities, especially in smart railway control systems, railway electrification technology, and heavy equipment manufacturing with independent intellectual property rights. Operationally, CREC continues to lead with turnkey construction services integrating survey, design, manufacture, installation, and maintenance, ensuring vertical industry chain integration. It maintains technological dominance in railway infrastructure, contributing to more than two-thirds of China’s total railway mileage and 90% of electrified railways. The company consistently ranks among the top Fortune Global 500 enterprises, underscoring its market significance. CREC’s parent company is China Railway Engineering Corporation (CRECG), a state-owned entity, which holds a major ownership stake. CREC is publicly traded on the Shanghai and Hong Kong stock exchanges under tickers SSE: 601390 and SEHK: 390. The company operates through various subsidiaries, including China Railway International Group Co., Ltd, which manages international business operations. Recent corporate developments emphasize sustainable development, technology-driven improvements in rail transit communication, and signal engineering, alongside increased investments in high-speed rail innovations and urban transit solutions, reinforcing CREC’s commitment to leading global railway modernization. Its extensive experience in major infrastructure and transport sectors positions it as a critical player in both domestic and global markets.

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