China's train maker CRRC reports revenue, profit drop in Q1

0 Comment(s)Print E-mail Xinhua, May 5, 2020
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A staff member of CRRC Changchun Railway Vehicles Co., Ltd. checks a Fuxing bullet train at a manufacturing center in Changchun, northeast China's Jilin Province, June 20, 2019. [Photo/Xinhua]


China's train maker CRRC Corporation Ltd. reported lower revenue and profit in the first quarter (Q1) of 2020 amid the COVID-19 epidemic.

The company's business revenue stood at 33.4 billion yuan (about 4.73 billion U.S. dollars) in Q1, down 15.81 percent year on year, according to its financial report filed with the Shanghai Stock Exchange.

Its net profit dropped by 58 percent year on year to 748 million yuan during the period, the report said.

CRRC was formed in June 2015 through the merger of China's top two train makers -- China North Railway and China South Railway.

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