China Railway Signal & Communication Corporation Limited (03969) has released its interim results for the 2026 fiscal year, reporting operating revenue of approximately 14.08 billion yuan, a decrease of 3.98% compared to the same period last year. Net profit attributable to shareholders of the listed company stood at roughly 1.473 billion yuan, marking a 9.07% year-on-year decline. Basic earnings per share reached 0.14 yuan.
According to the company's announcement, the revenue decline was primarily driven by reduced income from its equipment manufacturing, system delivery services, and general engineering contracting business segments. During the reporting period, in the railway weak-current system integration market, the company secured contracts for key high-speed rail projects including the Mianyang-Suining-Neijiang line and the Zhangzhou-Shantou Guangdong section, maintaining its leading market share position.
Additionally, the company won bids for several major projects, including the new Yining-Aksu railway, the railway special line for the Wuhai Economic Development Zone's low-carbon industrial park, engineering works related to the Shenzhen Pinghu South to Yantian Port railway renovation and Pinghu South inland port, the Aksu-Bachu section capacity expansion, procurement of onboard CTCS-3 train control systems for 350 km/h Fuxing bullet trains, and signal equipment integration for the Jinhua railway hub expansion. These contracts helped sustain stability in the railway market.
In the urban rail transit signal system integration market, China Railway Signal & Communication Corporation Limited won projects including the Nanjing Line 2 renovation, Jinan Line 9, and Changsha Line 6, solidifying its top position in market share. The company also undertook specialized engineering works in urban rail markets across Beijing, Shanghai, Nanjing, Changchun, and Shaoxing, achieving counter-trend growth in newly signed contract value.
In overseas markets, the company continued to deepen its global business network layout and enhance the quality and efficiency of new project acquisition. It secured projects such as the Bogota Metro Line 1, European onboard ETCS-2 systems, and Malaysia's 3CS project. Simultaneously, the company focused on maintaining existing overseas clients and broadening cooperation on current overseas projects to generate secondary revenue streams.
In the general engineering contracting and other markets, the company concentrated on its core business and accelerated its exit from municipal and housing construction activities. During this reporting period, newly signed contracts in the municipal and housing construction sector amounted to 560 million yuan, accounting for 3.16% of total new contract value. The company is driving its subsidiaries to transform and upgrade toward areas such as rail transit, intelligent low-altitude economy, smart cities, and intelligent operations, resulting in an overall optimized business structure.
During the reporting period, the company actively explored the domestic low-altitude economy market and continuously refined its core product systems and business scenarios. In the Qingdao project, the company fully deployed a low-altitude intelligent networked system, a unified "one-network flight control" platform, and supporting infrastructure including communications, sensing, and countermeasure systems, which are now operating on a routine basis.
The company developed an unmanned emergency communication coverage solution, conducting multiple field tests in Nanjing, Jiangyin, and other locations. These tests supported mobile access for three major telecom operators, 370MHz rescue communication coverage, concurrent communications for thousands of users, and HD video backhaul capabilities. Additionally, the company implemented a forest fire emergency prevention and control application scenario in the Fenghuang Mountain area of Zhuhai, building a "cloud-edge-device" coordinated "detect, strike, and deliver" unmanned prevention and control system. Fire detection and delivery technologies were validated, achieving a detection range of 1.4 kilometers.
The company deepened its collaboration with Beijing Institute of Technology and the Zhuhai municipal government to establish the Bay Area Low-Altitude Research Institute (Guangdong) Co., Ltd. This initiative focuses on developing original technologies such as electrostatic detection and hyperspectral sensing, integrating radar, radio, acoustic, and electro-optical perception methods to effectively address sensing challenges in concealed areas below the "tree line." Combined with multi-level countermeasures including directional suppression, omnidirectional suppression, navigation deception, net capture, and fiber projectiles, the company has formed a full-spectrum product line of "six senses and five countermeasures," enabling detection and interception of unauthorized drone targets.
In cities including Shijiazhuang, Qingdao, Chengde, and Rongjiang, the company has commercially operated its "one-network flight control" business, accumulating 58,000 flight sorties, covering 432,000 kilometers and approximately 18,000 flight hours. At the 2026 World Artificial Intelligence Conference, the company's "low-altitude government one-network flight control operations service scenario" was selected as a high-value artificial intelligence strategic scenario for central state-owned enterprises, further enhancing its industry influence. During the reporting period, newly signed contracts in the low-altitude economy sector reached 171 million yuan.
Comments