中国工程机械工业协会发文称，2025年2月升降工作平台出租率指数为350点，环比下降21.4%，同比增 长34.1%。由于每年春节假期时间都在一二月份变换，因此出租率指数同比、环比跳跃较大。 CME预计2025年3月挖掘机销量28500台，同比+14%，其中国内18500台，同比+22%，出口10000台，同 比+2%。2025年1-3月挖掘机累计内销35545台，同比+34%，累计出口24737台，同比+5%，国内外需求 边际回暖开启共振。 展望全年，东吴证券研究认为水利投资高增速对小挖形成支撑，地产企稳、基建发力对中挖形成支撑， 矿山需求稳定对大挖销量形成支撑，叠加存量更新替换背景下，全年挖机内销值得期待。 太平洋证券发布研报称，海关公布2025年1、2月挖机产品出口数据，同比继续高增长，目前海外对主机 厂利润贡献很大，预计随着出口同比继续向上，这一比例有望继续提升。且下游各主要区域同比均呈现 向好趋势，该行认为出口端利润率更高，今年在海外需求环境向好预期下，预计会对各主机厂业绩端形 成积极影响，该行继续看好工程机械板块。 工程机械相关港股企业： 中联重科（000157）(01157)、中国龙工(0333 ...

会议指出，农机装备是保障国家粮食安全、建设农业强国的重要支撑。要坚持面向农业需求、聚焦重点 领域，从突破基础技术、完善创新体系、培育优质企业、打造产业集群等方面综合施策，加快标志性产 品研制和关键核心技术攻关。 要用好用足农机购置与应用补贴、大规模设备更新等政策措施，加强中试验证和熟化应用，促进先进适 用农机装备市场推广。 要发挥标准引领作用，做好鉴定检测认证，强化质量监督管理，促进农机装备产品加快升级。 国常会：研究推动农机装备高质量发展有关措施。 市场端，文件中也提出推进老旧农机报废更新，有望加强新型农机的市场需求，加速老旧农机的淘汰， 推动农业生产方式向智能化、精准化、高效化转变。 在此背景下，具备技术创新能力、产品质量可靠、售后服务完善的农机企业，将有望扩大市场份额，提 升其盈利能力。 国金证券指出，农机行业库存去化继续推进，有望为25Q1旺季开门红做好铺垫。 农机相关港股企业： 第一拖拉机股份(00038)：第一拖拉机股份公布，2024年度拖拉机产品销量约7.43万台，同比增2.71%， 其中大马力拖拉机销量升12.49%，而中马力拖拉机及小马力拖拉机销量分别跌4.57%及52%。至于柴油 机产品销 ...

智通财经APP讯，第一拖拉机股份(00038)公布2024年业绩，营业总收入约119.04亿元，同比增长3.26%; 归属于母公司所有者的净利润约9.22亿元，同比减少7.52%。基本每股收益0.8206元，每10股派发现金 红利人民币2.995元(含税)。 公告称，营收增长主要由于主导产品销量同比上升。 拖拉机业务方面，公司持续丰富拖拉机产品组合和产品配置，加快新产品上市推广。聚焦拓市场的关键 环节，优化渠道管理，针对薄弱区域推进「一地一策、一品一策」，提升区域产品竞争力。针对重点市 场、战略产品、跨区作业集中区域等制定专项服务方案，为用户提供专业化的产品和服务，并通过东方 红金融业务有效缓解经销渠道和终端用户的资金压力。公司更加注重探索新媒体在营销宣传等领域应 用，达到品牌宣传、引流客户效果。2024年，公司实现大中型拖拉机产品销售7.43万台，同比增长 2.73%，继续保持行业领先位势。 动力机械业务方面，2024年公司柴油机产品继续以稳定扩大拖拉机、收获机等传统农业机械主机产品配 套市场为主，同时培育开拓船机、发电机、工程机械等市场。受拖拉机、收获机产品市场集中度提升影 响，柴油机外部配套市场需求有所 ...

Financial Performance - Total operating revenue for the year ended December 31, 2024, was RMB 11,904,370,911.94, an increase from RMB 11,533,786,779.44 in 2023, representing a growth of approximately 3.2%[13] - Net profit attributable to shareholders of the parent company was RMB 922,023,211.45, compared to RMB 770,570,612.56 in the previous year, reflecting a year-on-year increase of about 19.6%[2] - Earnings per share for the year was RMB 0.8206, up from RMB 0.6854 in 2023, indicating a growth of approximately 19.7%[2] - Operating profit for the year reached CNY 1,046,347,111.80, an increase of 5.04% from CNY 996,266,250.37 in the previous year[14] - Total profit amounted to CNY 1,051,777,667.34, up from CNY 1,003,085,973.63, reflecting a growth of 4.83%[14] - Net profit for the year was CNY 930,937,715.31, a decrease of 5.8% compared to CNY 989,027,297.80 from the previous year[14] - Total comprehensive income for the year was CNY 931,151,092.03, a decrease of 5.5% from CNY 984,994,466.66 in the previous year[15] - The company reported a net profit attributable to shareholders of approximately $922.02 million for the year, contributing to an increase in retained earnings to approximately $2.70 billion[50] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 14,691,335,709.97, an increase from RMB 13,817,261,971.79 in 2023, representing a growth of about 6.3%[10] - Total liabilities increased to RMB 6,913,064,048.45 from RMB 6,597,932,308.41, marking an increase of approximately 4.8%[8] - The total current assets as of December 31, 2024, were RMB 7,425,048,133.18, up from RMB 6,487,671,852.68 in 2023, indicating a growth of approximately 14.5%[4] - The total non-current assets decreased slightly to RMB 7,266,287,576.79 from RMB 7,329,590,119.11, a decline of about 0.9%[5] - The total current liabilities increased to RMB 6,498,069,754.11 from RMB 6,044,604,287.57, representing a rise of approximately 7.5%[7] - The total equity attributable to shareholders of the parent company was RMB 7,255,707,334.12, an increase from RMB 6,691,690,666.55 in 2023, reflecting a growth of about 8.4%[11] Research and Development - Research and development expenses for the year were RMB 516,377,794.17, compared to RMB 461,344,381.32 in 2023, reflecting an increase of about 11.9%[13] - The research and development strategy emphasizes self-initiated projects and collaboration with academic institutions to meet market demands[63] - The company plans to enhance its R&D investment focusing on advanced technologies such as power shifting and hybrid technology to maintain competitive advantage[87] - The company is committed to innovation-driven development, increasing R&D investment, and enhancing its technological workforce to create competitive advantages in products like continuously variable transmission and hybrid tractors[83] Sales and Market Presence - The company operates primarily in the manufacturing and sales of agricultural and power machinery[16] - The company operates in two main segments: Agricultural Machinery and Power Machinery, with over 90% of revenue and assets located in China[31] - The sales model includes a comprehensive distribution network covering 31 provinces in China and various international markets[64] - The company is actively expanding its overseas market presence, signing a contract for the supply of 301 tractors for an agricultural engineering project in Nigeria[74] - The company exported 7,100 tractors in 2024, a year-on-year increase of 8.23%[74] Cost Management and Efficiency - The company is focusing on cost management through various measures, including optimizing production processes and implementing lean production techniques to enhance economic efficiency[84] - The company’s operating costs for 2023 were adjusted from ¥9,696,630,033.53 to ¥9,783,012,246.50, reflecting an increase of ¥86,382,212.97 due to the implementation of Interpretation No. 18[34] - Operating costs increased to CNY 10,145,221,753.22, reflecting a year-on-year rise of 3.70% from CNY 9,783,012,246.50[90] Dividends and Shareholder Returns - A cash dividend of RMB 0.2995 per share is proposed for the 2024 fiscal year, totaling RMB 33,653 million[59] - The board of directors has proposed a cash dividend of RMB 2.995 per 10 shares, totaling RMB 336.53 million, subject to approval at the 2024 annual general meeting[124] Corporate Governance and Compliance - The financial statements are prepared in accordance with the Chinese Accounting Standards, reflecting the company's financial position and operating results accurately[19] - The company has established a merger accounting policy based on control, including all subsidiaries in the consolidated financial statements[28] - The company has confirmed that it has obtained necessary approvals and completed required procedures for mergers[27] - Changes in the board include the election of new directors and the appointment of a new CFO, reflecting organizational adjustments[123] Environmental and Social Responsibility - The company’s 2024 Environmental, Social, and Governance report is scheduled to be published by April 2025, in compliance with the Hong Kong Stock Exchange guidelines[121] Risk Management - The company is subject to foreign exchange risks due to its export trade primarily settled in foreign currencies, which may impact its performance[116] - The company is responding to industry uncertainties by adjusting its sales strategies based on subsidy policy changes and market competition dynamics[82]

Summary of First Tractor Company Limited Core Viewpoint The report provides an audit summary of non-operating fund occupation and other related fund transactions for First Tractor Company Limited, ensuring the accuracy and completeness of the financial data presented. Group 1: Audit Overview - The audit was conducted by Xinyong Zhonghe Accounting Firm according to Chinese CPA auditing standards, covering the financial statements for the year ending December 31, 2024 [1]. - The audit report issued was unqualified, indicating no significant discrepancies were found in the financial data [1]. Group 2: Non-Operating Fund Occupation - The report details the non-operating fund occupation for the year 2024, including the total amount occupied at the beginning of the year, the amount occupied during the year, and the total amount repaid [1]. - The total non-operating fund occupation at the end of 2024 was reported, along with the reasons for these transactions [1]. Group 3: Related Party Transactions - The report includes a summary of related party transactions, detailing the amounts involved and the nature of these transactions [2][3]. - Specific amounts for accounts receivable and payable with various related parties are listed, indicating the operational relationships and financial interactions [2][3]. Group 4: Financial Data - The financial data includes significant figures such as total receivables and payables with related parties, highlighting the financial health and operational dynamics of the company [5][6]. - The report notes changes in financial positions due to currency fluctuations and the consolidation of subsidiaries, particularly the acquisition of a controlling stake in a joint venture [6].

第一拖拉机股份有限公司 内部控制审计报告 索引 页码 审计报告 1-2 内部控制审计报告 《企业内部控制应用指引》 、 《企业内部控制评 价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是一拖股份公司董事 会的责任。 XYZH/2025BJAA3B408 第一拖拉机股份有限公司 第一拖拉机股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审计 了第一拖拉机股份有限公司（以下简称一拖股份公司）2024 年 12 月 31 日财务报告内部 控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》 、 我们认为，第一拖拉机股份有限公司于 2024 年 12 月 31 日按照《企业内部控制基 本规范》和相关规定在所有重大方面保持了有效的财务报告内部控制。 信永中和会计师事务所(特殊普通合伙) 中国注册会计师： 中国注册会计师： 中国 北京 二○二五年三月二十七日 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计意 见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固 ...

Financial Performance - Total revenue for 2024 reached ¥11,904,370,911.94, an increase of 3.21% compared to ¥11,533,786,779.44 in 2023[21] - Net profit attributable to shareholders decreased by 7.52% to ¥922,023,211.45 from ¥997,022,699.99 in 2023[21] - Basic earnings per share for 2024 was ¥0.8206, down 7.52% from ¥0.8873 in 2023[22] - The company's total assets increased by 6.33% to ¥14,691,335,709.97 in 2024 from ¥13,817,261,971.79 in 2023[21] - Net cash flow from operating activities rose by 15.13% to ¥1,216,115,552.21 in 2024 compared to ¥1,056,261,600.78 in 2023[21] - The weighted average return on equity decreased to 13.22% in 2024 from 15.76% in 2023, a decline of 2.54 percentage points[22] - The company's net assets attributable to shareholders increased by 8.43% to ¥7,255,707,334.12 in 2024 from ¥6,691,690,666.55 in 2023[21] - The total liabilities of the company were ¥6,913,064,048.45 in 2024, up from ¥6,597,932,308.41 in 2023[33] - Non-recurring gains and losses amounted to ¥55,146,131.09 in 2024, compared to ¥71,137,510.83 in 2023[27] - The company reported a significant increase in cash flow from operating activities in the first three quarters of 2024, with the third quarter showing a net cash flow of ¥830,164,297.98[24] Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 2.995 per 10 shares, totaling RMB 336.53 million, based on a total share capital of 1,123,645,275 shares as of December 31, 2024[4] - The cash dividend represents 36.50% of the net profit attributable to ordinary shareholders in the consolidated financial statements[140] - The cumulative cash dividend amount over the last three accounting years is RMB 949.03 million[142] - The average net profit over the last three accounting years is RMB 866.70 million, with a cash dividend ratio of 109.50%[143] Corporate Governance and Compliance - The company emphasizes strict compliance with corporate governance regulations, ensuring effective decision-making and supervision to protect shareholder interests[103] - The company has adopted the corporate governance code and ensured compliance with all relevant regulations[152] - The company has implemented risk identification and assessment processes to mitigate various risks effectively[144] - The internal control system was evaluated as effective as of December 31, 2024, with no significant deficiencies identified in financial reporting controls[144] - The company has established specialized committees, including the Audit Committee, Nomination Committee, Compensation Committee, and Strategic Investment and Sustainable Development Committee, with independent directors serving as chairs[123] Operational Highlights - The company is focused on expanding its agricultural machinery business, particularly in the tractor segment, which includes various models and components[12] - The company sold 743,000 large and medium-sized tractors in 2024, representing a year-on-year growth of 2.73%[38] - The company exported 7,100 tractors in 2024, an increase of 8.23% year-on-year[39] - The company completed the development of new products for hillside and mountainous tractors, achieving the first batch market application in China for 50-80 horsepower models[37] - The company’s diesel engine products sold 145,900 units in 2024, with external sales of 77,600 units, a year-on-year decline of 5.98%[38] Research and Development - Research and development expenses rose to approximately CNY 516.38 million, marking an 11.93% increase compared to the previous year[56] - The number of R&D personnel is 1,124, representing 16.24% of the total workforce[73] - The company is focusing on high-end agricultural machinery development, including new platform tractors and intelligent driving technologies[53] - The company plans to increase R&D investment to develop products tailored for hilly and mountainous regions, addressing the specific needs of these areas[94] Environmental and Social Responsibility - The company invested 61.82 million yuan in environmental protection during the reporting period[154] - The company has established a mechanism for environmental protection and compliance with relevant regulations[153] - The company has reduced carbon emissions by 1,604 tons through measures such as using clean energy and promoting carbon reduction technologies in production[162] - The company invested a total of 303,600 yuan in poverty alleviation and rural revitalization projects, benefiting 3,295 individuals[163] Market Expansion and Strategy - The company is actively expanding its overseas market presence, leveraging international engineering resources to develop tailored products for different regional needs[39] - The company is exploring strategic acquisitions to enhance its service offerings and market reach[177] - The company plans to enhance its digital transformation efforts, with an investment of 50 million yuan in digital tools and platforms[111] - The company is investing 100 million yuan in R&D for new technologies aimed at improving production efficiency by 15%[111] Related Party Transactions - The company is involved in multiple related party transactions, with details published in various announcements on the Shanghai Stock Exchange[178] - The company’s related party transactions are in accordance with the relevant regulations and have not reached the disclosure threshold[183] - The expected transaction amount for related party transactions in 2024 is projected to be 600 million RMB, with an actual amount of 261 million RMB recorded, representing 15.42% of similar transactions[180] Management and Leadership - The company has a structured process for determining executive compensation, which includes performance assessments and board approvals[116] - The company’s senior management team includes experienced professionals with backgrounds in production, management, and finance, enhancing operational efficiency[116] - The company has undergone changes in its board of directors, with new appointments including Zhao Weilin as chairman and Yang Jianhui as a director due to work requirements[117]

2023 年 12 月 18 日，公司持有的标的股权在北京产权交易所正式公开挂牌， 截至 2024 年 12 月 23 日，标的股权公开挂牌期届满，未征集到符合条件的意向 受让方，本次挂牌事宜终止。 证券代码：601038 证券简称：一拖股份 公告编号：临 2024-54 第一拖拉机股份有限公司 关于公开挂牌转让参股公司股权的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、交易概述 第一拖拉机股份有限公司（以下简称公司）于 2023 年 10 月 27 日召开第九 届董事会第十五次会议，审议同意公司通过北京产权交易所公开挂牌转让所持洛 银金融租赁股份有限公司 6.875%股权（以下简称标的股权），挂牌价格不低于 经国资监管机构备案的标的股权评估值。具体内容详见公司于 2023 年 10 月 28 日在上海证券交易所网站披露的《关于公开挂牌转让参股公司股权的公告》。 二、交易进展情况 三、其他说明 公司目前经营情况正常，本次交易的终止不会对公司现有的日常经营和财务 状况等方面造成重大不利影响，不存在损害公司及 ...

Financial Performance - Operating revenue for the third quarter was CNY 2,929,760,090.86, a decrease of 2.45% compared to the same period last year[5]. - Net profit attributable to shareholders was CNY 195,552,935.06, down 40.93% year-on-year[5]. - Basic earnings per share decreased by 40.93% to CNY 0.1740[5]. - The weighted average return on net assets was 2.66%, a decrease of 2.34 percentage points compared to the same period last year[5]. - Total revenue for the first three quarters of 2024 reached RMB 10,736,379,923.58, an increase of 4.73% compared to RMB 10,251,806,292.67 in the same period of 2023[25]. - The net profit for the first three quarters of 2024 reached ¥1,115,315,214.65, a slight increase from ¥1,092,324,002.62 in the same period of 2023, representing a growth of approximately 2.1%[27]. - Total revenue from operating activities amounted to ¥9,107,655,152.34 in the first three quarters of 2024, compared to ¥8,534,245,072.80 in 2023, indicating an increase of about 6.7%[32]. - The operating profit for the first three quarters of 2024 was ¥1,305,114,623.98, up from ¥1,157,018,048.68 in 2023, reflecting a growth of approximately 12.8%[26]. - Basic earnings per share for the first three quarters of 2024 were ¥0.9798, compared to ¥0.9658 in 2023, showing an increase of about 1.9%[30]. - The total comprehensive income attributable to the parent company's owners for the first three quarters of 2024 was ¥1,115,529,348.54, compared to ¥1,096,537,446.61 in 2023, marking a growth of approximately 1.7%[30]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 15,800,090,626.94, an increase of 14.35% from the end of the previous year[5]. - Total assets as of September 30, 2024, amounted to RMB 15,800,090,626.94, compared to RMB 13,817,261,971.79 at the end of 2023, indicating a growth of 14.3%[21]. - The total liabilities increased to RMB 7,831,296,534.02 from RMB 6,597,932,308.41, marking a rise of 18.7%[23]. - The company's equity attributable to shareholders rose to RMB 7,440,324,374.61 as of September 30, 2024, compared to RMB 6,691,690,666.55 at the end of 2023, an increase of 11.2%[24]. Cash Flow - Net cash flow from operating activities for the year-to-date was CNY 1,744,781,554.68, an increase of 16.27% year-on-year[5]. - The net cash flow from operating activities for the first three quarters of 2024 was ¥1,744,781,554.68, up from ¥1,500,649,110.70 in 2023, reflecting a growth of about 16.3%[34]. - Cash inflow from operating activities increased to ¥9,107,655,152.34 in 2024 from ¥8,534,245,072.80 in 2023, representing a rise of about 6.7%[32]. - Cash outflow for purchasing goods and services was ¥5,889,702,280.20 in 2024, compared to ¥5,659,505,167.91 in 2023, indicating an increase of approximately 4.1%[34]. - The company's cash and cash equivalents decreased to RMB 2,317,864,928.67 as of September 30, 2024, down from RMB 2,769,578,885.96 at the end of 2023, a decline of 16.3%[20]. - The ending balance of cash and cash equivalents as of September 2024 was approximately $1.74 billion, down from $2.87 billion at the end of September 2023[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 19,574, with 48.81% of shares held by the largest shareholder, China Yituo Group Co., Ltd.[12]. - The top 10 shareholders hold a total of 548,485,853 unrestricted circulating shares, with HKSCC NOMINEES LIMITED holding 389,025,309 shares, representing 70.8% of the total[15]. - The largest shareholder, 富国基金－中國人壽保險股份有限公司－分紅險, holds 7,671,241 shares, accounting for 0.68% of the total shares[16]. - The total number of shares held by the basic pension insurance fund is 3,898,699, which represents 0.35% of the total shares[16]. - The top 10 unrestricted shareholders include several investment funds, with 招商銀行股份有限公司－南方 holding 2,617,000 shares, representing 0.23%[14]. - The report indicates that there are no known relationships among the top shareholders that would classify them as acting in concert under the regulations[17]. - The company has not disclosed any information regarding the participation of the top shareholders in margin financing and securities lending[17]. Strategic Initiatives - The company plans to expand its market presence through strategic acquisitions and partnerships, as evidenced by the recent acquisition of ZF's equity[19]. - The company acquired 51% equity of ZF (China) Investment Co., Ltd. for a total price of 97,476,149 RMB, which will be consolidated into the company's financial statements[19]. - The company announced the resignation of three board members, including the chairman, and appointed new non-independent directors during the 2024 first extraordinary shareholders' meeting[18]. - The company will continue to monitor and adapt its strategies in response to market conditions and shareholder dynamics[18]. Expenses and Income - Operating costs for the first three quarters of 2024 were RMB 9,670,238,422.90, up from RMB 9,239,404,972.71 in 2023, reflecting a year-over-year increase of 4.66%[25]. - Research and development expenses for the first three quarters of 2024 were RMB 317,450,819.65, up from RMB 290,167,982.58 in 2023, reflecting a growth of 9.4%[25]. - The company reported a financial income of RMB 38,287,439.33 for the first three quarters of 2024, compared to RMB 45,931,429.25 in the same period of 2023, a decrease of 16.7%[25]. - Investment income for the first three quarters of 2024 was ¥122,315,342.61, compared to ¥98,510,105.73 in 2023, showing an increase of approximately 24.2%[26]. Inventory and Receivables - Accounts receivable increased significantly to RMB 1,498,823,037.09 from RMB 331,205,994.88, representing a growth of 352.5%[20]. - The inventory decreased to RMB 1,226,171,260.62 from RMB 1,514,190,377.68, representing a decline of 19.0%[20].

Financial Performance - The company's operating revenue for Q3 2024 was approximately ¥10.74 billion, a decrease of 2.45% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was approximately ¥1.10 billion, down 40.93% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥1.07 billion, a decrease of 40.44% compared to the previous year[4]. - The basic earnings per share for the period was ¥0.9798, reflecting a decline of 40.93% year-on-year[4]. - Total operating revenue for the first three quarters of 2024 reached CNY 10,736,379,923.58, an increase of 4.73% compared to CNY 10,251,806,292.67 in the same period of 2023[16]. - Net profit attributable to shareholders of the parent company was CNY 1,100,902,509.20, up from CNY 1,085,194,909.92 in the previous year, reflecting a growth of 1.46%[17]. - The total comprehensive income for the period was CNY 1,115,529,348.54, slightly up from CNY 1,096,537,446.61 in the previous year, indicating a growth of 1.73%[18]. Assets and Liabilities - The total assets of the company at the end of the reporting period were approximately ¥15.80 billion, an increase of 14.35% compared to the end of the previous year[4]. - The company's total assets reached CNY 15,800,090,626.94, up from CNY 13,817,261,971.79, indicating a growth of 14.31%[15]. - The total liabilities increased to CNY 7,831,296,534.02, compared to CNY 6,597,932,308.41 in the previous year, marking an increase of 18.69%[15]. - The company's current assets totaled approximately RMB 7.89 billion, up from RMB 6.49 billion at the end of 2023, indicating a growth of around 21.6%[13]. - The cash and cash equivalents decreased to approximately RMB 2.32 billion from RMB 2.77 billion, a decline of about 16.3%[12]. - The total liabilities of the company are not specified in the provided documents, but the increase in total assets suggests a potential increase in leverage[12]. Cash Flow - The net cash flow from operating activities for the period was approximately ¥1.74 billion, an increase of 16.27% year-on-year[4]. - The cash flow from operating activities showed a significant improvement, with net cash inflow reported at CNY 1,115,529,348.54 compared to CNY 1,096,537,446.61 in the previous year[18]. - In the first three quarters of 2024, the cash inflow from operating activities reached ¥9,107,655,152.34, an increase of 6.7% compared to ¥8,534,245,072.80 in the same period of 2023[21]. - The net cash flow from operating activities for the first three quarters of 2024 was ¥1,744,781,554.68, up from ¥1,500,649,110.70 in 2023, representing a growth of 16.3%[21]. - The total cash outflow from investing activities in the first three quarters of 2024 was ¥2,204,139,704.69, slightly higher than ¥2,159,793,874.85 in 2023[21]. - The net cash flow from investing activities for the first three quarters of 2024 was -¥1,830,292,014.39, an improvement from -¥2,124,329,045.16 in 2023[21]. - The cash outflow from financing activities in the first three quarters of 2024 totaled ¥394,123,868.94, compared to ¥338,604,648.76 in 2023[22]. - The net cash flow from financing activities for the first three quarters of 2024 was -¥394,123,868.94, worsening from -¥38,604,648.76 in 2023[22]. - The cash and cash equivalents at the end of the third quarter of 2024 amounted to ¥1,744,554,983.94, down from ¥2,865,916,340.18 at the end of the same period in 2023[22]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,574, with the largest shareholder holding 48.81% of the shares[8]. - The company appointed new non-independent directors during the shareholder meeting held on August 2, 2024, indicating a shift in governance[11]. Investments and Expenses - Research and development expenses for the first three quarters amounted to CNY 317,450,819.65, which is an increase of 9.25% from CNY 290,167,982.58 in the same period last year[16]. - The company completed the acquisition of a 51% stake in ZF (China) Investment Co., Ltd. for a total price of RMB 97.48 million, enhancing its market position[11]. - The company received tax refunds of ¥143,073,680.06 in the first three quarters of 2024, a decrease from ¥230,651,928.16 in 2023[21]. - The company paid ¥867,458,400.34 to employees in the first three quarters of 2024, an increase from ¥800,200,119.24 in 2023, reflecting a growth of 8.4%[21].