HK Stock Market Move | China Railway (00390) falls more than 5% after performance, net profit in the first quarter decreases by 27% year-on-year, and the newly signed contract amount drops by nearly 40%.

China Railway (00390) fell more than 5% after its performance announcement, dropping 5.49% to 3.79 Hong Kong dollars with a turnover of 140 million Hong Kong dollars. In terms of news, China Railway released its first quarter earnings, with operating income of approximately 234.98 billion Yuan, a year-on-year decrease of 5.46%; net profit attributable to shareholders was approximately 43.59 billion Yuan, a year-on-year decrease of 27.65%. During the period, the total value of new contracts signed was 338.51 billion Yuan, a year-on-year decrease of 39.6%, including 305.73 billion Yuan for domestic contracts, a year-on-year decrease of 38.2%, and 32.78 billion Yuan for overseas contracts, a year-on-year decrease of 50.1%.