Financial Performance - The company's operating revenue for Q1 2025 was CNY 4,536,728,879, representing a year-on-year increase of 14.81% compared to CNY 3,924,623,207 in the same period last year[2]. - Net profit attributable to shareholders of the listed company reached CNY 631,266,879, up 13.42% from CNY 567,547,208 in the previous year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 29.52%, amounting to CNY 597,096,663 compared to CNY 460,999,116 in the previous year[6]. - The basic earnings per share for the reporting period was CNY 0.45, an increase of 15.38% compared to CNY 0.39 in the same period last year[3]. - In Q1 2025, the company achieved revenue of RMB 4.537 billion, a year-on-year increase of 14.81% from RMB 3.951 billion in the same period last year[11]. - Net profit for Q1 2025 was ¥688,485,308, up 21.6% from ¥566,518,469 in Q1 2024[17]. - Operating profit for Q1 2025 was ¥777,887,759, a 28.6% increase from ¥604,941,540 in Q1 2024[17]. Cash Flow and Assets - The net cash flow from operating activities was CNY 54,459,641, a significant improvement from a negative cash flow of CNY -482,272,409 in the same period last year[2]. - The company's cash and cash equivalents stood at RMB 10.348 billion, slightly down from RMB 10.652 billion at the end of 2024[13]. - The company reported a decrease in cash and cash equivalents by ¥2,199,881,050 during Q1 2025[20]. - Cash flow from operating activities generated a net amount of ¥54,459,641, a significant recovery from a net outflow of ¥508,704,086 in Q1 2024[20]. - Investment activities resulted in a net cash outflow of ¥3,362,874,954, compared to a net inflow of ¥411,827,928 in Q1 2024[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 66,471,687,057, reflecting a 2.58% increase from CNY 64,802,246,319 at the end of the previous year[3]. - The company's total assets reached RMB 66.472 billion, an increase from RMB 64.802 billion at the end of 2024[14]. - The total liabilities of the company amounted to RMB 21.913 billion, compared to RMB 20.040 billion in the previous year[14]. - The company's equity attributable to shareholders was RMB 41.268 billion, a slight decrease from RMB 41.528 billion year-on-year[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,531[8]. - The top ten shareholders held a combined 43.84% of the shares, with the largest shareholder being CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd. holding 600,381,485 shares[8]. - The number of A-share shareholders reached 23,496, while H-share shareholders numbered 1,035[10]. Business Segments - The rail transit business generated RMB 2.347 billion, up 10.72% from RMB 2.120 billion year-on-year, with the rail transit electrical equipment segment growing by 18.89% to RMB 1.923 billion[12]. - The emerging equipment business reported revenue of RMB 2.171 billion, reflecting a growth of 20.88% compared to RMB 1.795 billion in the previous year[12]. - The company reported a significant increase in industrial conversion revenue, which surged by 400.41% to RMB 205 million[12]. Research and Development - Research and development expenses accounted for a significant portion of the operating revenue, although specific figures were not disclosed in the provided content[3]. - Research and development expenses increased to ¥523,230,356, representing a 12.7% rise compared to ¥464,214,856 in the previous year[16]. Acquisition - The company made a 100% acquisition of Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. in December 2024, which was included in the consolidated financial statements[3].

Financial Performance - The company's operating revenue for Q1 2025 was RMB 4,536,728,879, representing a year-on-year increase of 14.81% compared to RMB 3,924,623,207 in the same period last year[12] - Net profit attributable to shareholders for Q1 2025 was RMB 631,266,879, up 13.42% from RMB 567,547,208 in the previous year[12] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 29.52%, reaching RMB 597,096,663 compared to RMB 460,999,116 in the same period last year[12] - Basic and diluted earnings per share for Q1 2025 were both RMB 0.45, reflecting a 15.38% increase from RMB 0.40 in the same period last year[12] - Total comprehensive income for Q1 2025 reached ¥706,959,160, a 21.5% increase from ¥582,119,645 in Q1 2024[45] - Basic and diluted earnings per share for Q1 2025 were both ¥0.45, up from ¥0.39 in Q1 2024, reflecting a 15.4% increase[45] Cash Flow - The company's cash flow from operating activities for Q1 2025 was RMB 54,459,641, a significant recovery from a negative cash flow of RMB -482,272,409 in the previous year[12] - Net cash flow from operating activities for Q1 2025 was ¥54,459,641, a significant recovery from a negative cash flow of ¥508,704,086 in Q1 2024[48] - Cash received from sales of goods and services in Q1 2025 was ¥3,969,482,090, representing a 35.4% increase compared to ¥2,931,910,285 in Q1 2024[48] - Net cash flow from financing activities for Q1 2025 was ¥1,109,125,592, up from ¥255,586,143 in Q1 2024, showing a strong improvement[50] - The ending cash and cash equivalents balance for Q1 2025 was ¥5,437,691,767, down from ¥7,171,026,005 in Q1 2024, reflecting a decrease of 24.2%[50] Assets and Liabilities - Total assets at the end of Q1 2025 were RMB 66,471,687,057, representing a 2.58% increase from RMB 64,802,246,319 at the end of the previous year[14] - Total liabilities increased to RMB 21,912,599,133 as of March 31, 2025, from RMB 20,039,828,511 as of December 31, 2024[38] - The total current assets as of March 31, 2025, amounted to RMB 46.872 billion, slightly up from RMB 46.433 billion at the end of 2024[34] - The company’s total non-current assets reached RMB 19,599,338,682 as of March 31, 2025, up from RMB 18,368,895,952 as of December 31, 2024[36] Research and Development - Research and development expenses totaled RMB 538,205,522, which accounted for 11.86% of operating revenue, a slight decrease from 11.88% in the previous year[12] - Research and development expenses for Q1 2025 amounted to RMB 523,230,356, an increase of 12.7% compared to RMB 464,214,856 in Q1 2024[41] Business Segments - The rail transportation business generated RMB 2.347 billion, up 10.72% from RMB 2.120 billion year-on-year, with the rail transportation electrical equipment segment increasing by 18.89%[30] - The emerging equipment business reported RMB 2.171 billion, a growth of 20.88% from RMB 1.795 billion year-on-year, with industrial conversion showing a significant increase of 400.41%[30] Shareholder Information - The largest shareholder, CRRC Zhuzhou Electric Locomotive Research Institute, holds 600,381,485 shares, accounting for 43.84% of the total shares[23] - HKSCC Nominees Limited, as an overseas entity, holds 499,117,566 shares, representing 36.45% of the total shares[25] - The company has a total of 23,496 A-share shareholders and 1,035 H-share shareholders as of the report date[28] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[28] - The company is indirectly controlled by China CRRC Corporation Limited, which holds a total of 49.36% of the shares[27] Acquisitions and Investments - The company completed the acquisition of 100% equity in Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. in December 2024, which was included in the consolidated financial statements[14] - Cash outflow for investment activities in Q1 2025 totaled ¥6,977,577,347, compared to ¥3,407,920,635 in Q1 2024, indicating a substantial increase in investment[48] - Cash inflow from investment recoveries in Q1 2025 was ¥3,492,800,000, slightly down from ¥3,771,000,000 in Q1 2024[48] Other Information - The total amount of non-recurring gains and losses for the period was RMB 34,170,216, with significant contributions from government subsidies and asset disposals[17] - The weighted average return on net assets for Q1 2025 was 1.52%, showing a slight increase of 0.02 percentage points compared to the previous year[12] - The company reported no net profit from merged entities in both Q1 2025 and Q1 2024, indicating no impact from mergers on earnings[45] - The company has not adopted new accounting standards for the current reporting period[51] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[40]

Financial Performance - The company's operating revenue for 2024 reached RMB 53,778,787,056, representing a year-on-year increase of 20.50%[16] - Net profit attributable to shareholders for 2024 was RMB 3,948,755,845, reflecting a growth of 21.77% compared to the previous year[16] - Basic earnings per share for 2024 were RMB 2.62, up from RMB 2.15 in 2023, marking a growth of 21.86%[16] - The company's operating revenue for 2024 reached approximately ¥24.91 billion, representing a 13.9% increase from ¥21.96 billion in 2023[20] - Net profit attributable to shareholders for 2024 was approximately ¥3.70 billion, an increase of 21.8% compared to ¥3.04 billion in 2023[20] - The company achieved significant improvements in operational efficiency through digital transformation, enhancing inventory turnover rates[29] - The company achieved a historic revenue breakthrough of 24.91 billion RMB, representing a 13.42% increase compared to the previous year[41] - The net profit after deducting non-recurring gains and losses was 3.23 billion RMB, reflecting a 24.28% growth compared to the previous year[41] - The net cash flow from operating activities was 3.36 billion RMB, up 21.45% from the previous year[41] - The company's total assets increased to 64.80 billion RMB, a 20.50% rise compared to the previous year[41] - The total operating revenue for Q4 2024 reached RMB 8.52 billion, while net profit attributable to shareholders was RMB 1.25 billion, marking a significant increase[45] Assets and Liabilities - The total assets as of December 31, 2024, amounted to RMB 64,802,246,319, an increase of 12.24% from the previous year[16] - The total liabilities as of December 31, 2024, were RMB 20,039,828,511, indicating a strategic focus on maintaining a healthy balance sheet[16] - Total equity attributable to shareholders as of December 31, 2024, was RMB 41,527,759,522, showing an increase of 27.99% year-on-year[16] - Cash and cash equivalents at the end of the period were RMB 10.652 billion, which is 16.44% of total assets, an increase of 34.71% compared to the previous period[200] - The company's total liabilities increased by 30.83% in accounts payable, amounting to RMB 8.2896 billion, which is 12.79% of total assets[200] Research and Development - Research and development expenses for 2024 were approximately ¥2.66 billion, a 28.8% increase from ¥2.06 billion in 2023[20] - The R&D investment accounted for 11.41% of operating revenue, an increase of 1.45 percentage points from the previous year[42] - The company has applied for 504 patents and has led or participated in the release of 38 international, national, and industry standards[29] - The company has developed a total of 3,762 effective domestic and international registered patents to protect its core technologies as of December 31, 2024[84] - The total R&D investment reached approximately RMB 2.84 billion, representing a 29.95% increase year-on-year, with R&D investment accounting for 11.41% of operating revenue, up from 9.96%[110] Market Position and Strategy - The company aims to enhance its market presence in the transportation and energy sectors, aligning with its vision to become a world-class enterprise[7] - The company aims to deepen its engagement in the transportation energy sector and accelerate the development of emerging sectors such as new energy generation and automotive equipment[41] - The company is confident in leveraging its industry advantages to consolidate its market position and create greater value for shareholders in the future[65] - The company holds a leading position in the domestic rail transit industry, maintaining a market share of over 30% in the traction converter systems sector from 2012 to 2024[74] - The company is focused on developing green and intelligent high-end rail transit equipment systems, aligning with national strategies for smart and low-carbon transportation[81] Acquisitions and Investments - The company acquired 100% equity of Hunan CRRC Commercial Vehicle Power Technology Co., Ltd., which will be included in the consolidated financial statements[18] - The company completed the acquisition of 100% equity in Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. in December 2024, which will be included in the consolidated financial statements[22] - The company plans to enhance its investment layout, with the semiconductor Yixing Phase III project fully operational and the Zhuzhou Phase III project completing pile foundation construction[27] - The company has secured its first order for a new energy locomotive traction system, maintaining over 50% market share in the domestic urban rail traction system for 2024, marking 13 consecutive years as an industry leader[60] Challenges and Risks - The company faces risks related to unprofitability and significant performance declines, necessitating ongoing R&D for new technologies and products[155] - The international business strategy is challenged by economic slowdowns, trade protectionism, and supply chain issues, impacting overseas operations[158] - Financial risks arise from currency fluctuations due to increased international operations, necessitating effective foreign exchange risk management[159] - Geopolitical risks and economic uncertainties are affecting the company's overseas operations, leading to potential cost increases and order acquisition difficulties[162] Future Outlook - The company plans to focus on high-quality development and efficient operations in 2025, enhancing its core technology support[32] - The company aims to enhance profitability as a core management objective for 2024, focusing on high-quality development[59] - The company plans to continue focusing on high-quality development and seizing opportunities in intelligent, digital, and green development[164]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 10 per 10 shares, totaling RMB 1,369,339,712, which accounts for 36.98% of the net profit attributable to shareholders for the fiscal year 2024[14]. - The total share capital as of February 26, 2025, is 1,369,339,712 shares, which will be the basis for the dividend distribution[14]. - The company has not experienced any changes in its total share capital from the date of the profit distribution announcement to the record date[14]. - The company’s board of directors has approved the profit distribution plan, pending approval from the annual shareholders' meeting[14]. Financial Performance - The company's operating revenue for 2024 reached RMB 24,908,937,548, representing a growth of 13.42% compared to RMB 21,962,105,911 in 2023[24]. - Net profit attributable to shareholders for 2024 was RMB 3,702,585,914, an increase of 21.77% from RMB 3,040,760,113 in 2023[24]. - Total assets as of December 31, 2024, amounted to RMB 64,802,246,319, up from RMB 53,778,787,056 in 2023, reflecting a growth of 20.50%[26]. - The company's total liabilities rose to RMB 20,039,828,511 in 2024, compared to RMB 15,930,081,855 in 2023, reflecting a growth of 25.80%[26]. - Operating profit for 2024 was RMB 4,286,006,426, up from RMB 3,252,450,709 in 2023, representing an increase of 31.70%[24]. - Basic earnings per share for 2024 increased to RMB 2.62 from RMB 2.15 in 2023, marking a growth of 21.86%[24]. Audit and Governance - The company has received a standard unqualified audit opinion from BDO China Shu Lun Pan Certified Public Accountants[17]. - The company emphasizes its commitment to transparency and accuracy in its financial reporting, ensuring no false statements or significant omissions[17]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[16]. - The company has not indicated any special arrangements in corporate governance that would affect the annual report's accuracy[16]. - The company has confirmed that all directors attended the board meeting where the annual report was discussed[17]. Research and Development - Research and development expenses for 2024 were RMB 2,656,671,063, an increase of 28.78% from RMB 2,062,404,741 in 2023, indicating a strong focus on innovation[24]. - The company applied for 504 patents and published 38 international, national, and industry standards in the transportation and energy sectors[33]. - The company has been recognized with 13 provincial and industry-level science and technology awards, including 3 first-class awards[33]. - The company has established a comprehensive independent intellectual property system across various high-tech fields, including traction power supply technology and industrial conversion technology[72]. - The company has a strong focus on R&D, implementing a dual-driven strategy of "strategic guidance" and "market orientation" for its research projects[75]. Market Position and Strategy - The company aims to enhance its market presence in the transportation and energy sectors, focusing on high-quality development and innovation[31]. - The company is focusing on high-quality development and efficient operations, enhancing its core technologies in conversion and control[36]. - The company aims to expand its market presence beyond rail transportation, focusing on high-quality operations and efficiency[70]. - The company is actively expanding into new industries beyond rail transportation, including industrial conversion and new energy generation[82]. - The company is committed to deepening reforms and building a modern management mechanism to stimulate new industrial development[33]. Investment and Growth - The company achieved a historic revenue milestone of 24.9 billion yuan, marking a significant breakthrough[35]. - The company plans to continue strengthening its core businesses in rail transportation and semiconductors while accelerating the development of emerging sectors like new energy generation[35]. - The company has completed the development of high-pressure and low-pressure hydrogen production power supply products, with a total investment of 1,627 million and current investment of 668 million[124]. - The company has developed a 320kW string photovoltaic inverter, with mass production and performance parameters reaching industry-leading levels[123]. - The company is advancing the application of IGBT devices to enhance product competitiveness in the modular inverter market[123]. Challenges and Risks - The company faces risks related to unprofitability and significant performance declines, necessitating ongoing investment in new technologies and products[159]. - The international business strategy is impacted by global economic slowdowns and trade protectionism, affecting overseas operations and project management[162]. - Financial risks arise from currency fluctuations due to increased international operations, necessitating effective foreign exchange risk management[163]. - The competitive landscape in the new energy vehicle market is intensifying, requiring the company to enhance its market strategies and technological innovation[165]. - The company is actively monitoring geopolitical risks and their potential impact on overseas operations and project costs[166]. Revenue Breakdown - Revenue from rail transportation equipment business was RMB 14.64 billion, up 13.37% year-on-year[177]. - Revenue from emerging equipment business reached RMB 10.12 billion, growing by 13.71% compared to the previous year[178]. - The gross profit margin for rail transportation equipment and its extended industries was 32.48%, an increase of 3.87 percentage points year-on-year[180]. - Revenue from mainland China amounted to CNY 23,528,651,385, with a year-on-year increase of 12.27%[182]. - The production volume of semiconductor devices was 528.74 million units, with a year-on-year increase of 22.81%[183].

Financial Performance - The company achieved an operating revenue of RMB 24.9 billion in 2024, marking a significant milestone in its financial performance[13]. - The net profit attributable to shareholders for the year is projected to be RMB 3.7 billion, with a cash dividend distribution plan of RMB 1.369 billion, representing 36.98% of the net profit[6]. - The company's operating revenue for 2023 reached CNY 24.91 billion, a year-on-year increase of 13.42% compared to CNY 21.80 billion in 2022[27]. - Net profit attributable to shareholders for 2023 was CNY 3.70 billion, reflecting a 21.77% increase from CNY 3.10 billion in 2022[27]. - The net profit after deducting non-recurring gains and losses was CNY 3.23 billion, up 24.28% from CNY 2.60 billion in 2022[27]. - The company's total assets increased by 20.50% to CNY 64.80 billion in 2023, compared to CNY 53.40 billion in 2022[28]. - The net assets attributable to shareholders rose to CNY 41.53 billion, marking a 12.24% increase from CNY 36.87 billion in 2022[28]. - The company's EBITDA for 2024 was CNY 5,590,883,033, representing a 28.42% increase from CNY 4,353,705,615 in the previous year[35]. - The net profit for 2024 was CNY 3,948,755,845, compared to CNY 3,085,150,423 in 2023, indicating robust financial performance[35]. - The company reported a total revenue of 28,463 million RMB for the period, with a net profit of 15,460 million RMB, reflecting a significant year-on-year growth[91]. Research and Development - The company has filed 504 patent applications and participated in the release of 38 international and national standards in the transportation and energy sectors[15]. - The company's R&D expenditure as a percentage of operating revenue rose to 11.41%, up 1.45 percentage points from 9.96% in 2023[29]. - The company achieved a 28.81% increase in expense-based R&D investment, totaling approximately ¥2.66 billion, compared to ¥2.06 billion in the previous year[73]. - The total R&D investment reached approximately ¥2.84 billion, reflecting a 29.95% increase from ¥2.19 billion in the previous year, with R&D investment accounting for 11.41% of operating revenue[73][74]. - The company has 3,762 valid domestic and international patents protecting its core technologies as of December 31, 2024[56]. - The company has established a comprehensive R&D capability for rail engineering machinery, with products already in mass application in national rail and urban rail infrastructure maintenance[57]. - The company has developed advanced IGBT chip technology with a complete proprietary technology system, widely applied in rail transit, power grids, new energy, automotive, and industrial control sectors[57]. - The company has achieved breakthroughs in silicon carbide chip technology, enhancing reliability and performance in various applications[57]. - The company has developed a complete set of advanced silicon carbide (SiC) chip manufacturing technology, applicable in various fields including new energy vehicles and industrial drives[59]. Market Position and Strategy - The traction system market share continues to lead, with significant advancements in key component systems[14]. - The company is actively pursuing strategic investments and collaborations to enhance its competitive edge in the market[14]. - The company aims to align with national strategies such as "Transportation Power" and "Dual Carbon" initiatives, focusing on technological innovation and market demand[17]. - The company is positioned in a rapidly growing new energy market, with significant potential driven by the national "dual carbon strategy" and emerging industries such as photovoltaic engineering and electric vehicle drive systems[153]. - The company is focusing on green rail transit solutions in line with national carbon neutrality goals, which are gaining popularity among users[152]. - The company is committed to enhancing user experience and strengthening its differentiated competitive advantages through continuous innovation[53]. - The company is focusing on strengthening its core technology development and market research to mitigate risks associated with new product development[105]. - The company is advancing the application of self-developed IGBT devices to enhance product competitiveness and ensure supply chain security[79]. Operational Efficiency and Cost Management - The company has implemented a digital transformation strategy to enhance operational efficiency and decision-making transparency[16]. - The company aims to enhance its operational efficiency and resource allocation through digital transformation, focusing on high-quality development and sustainable value creation for shareholders[154]. - The company plans to implement cost-cutting measures expected to save approximately 100 million yuan annually[167]. - The company reported a 5% reduction in operational costs due to improved efficiency measures[172]. - The company aims to reduce operational costs by 15% through automation and process optimization initiatives[170]. Awards and Recognition - The company has received 1 National Science and Technology Invention Award and 13 provincial and industry-level technology awards, including 3 first prizes[15]. - The company has been recognized as a benchmark for reform actions, ranking fourth nationally in the evaluation of state-owned enterprise reforms[16]. - The company has been awarded the National Technology Invention Second Prize in 2024, highlighting its strong innovation capabilities[100]. Personnel and Management - The company has a strong focus on enhancing its financial management capabilities with experienced professionals[1]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 15.23 million RMB[183]. - The company appointed Xu Shaolong as the new General Manager and Executive Director on June 27, 2024[186]. - The company experienced several personnel changes, including the resignation of Zhang Xinning and the appointment of Sun Shan as Deputy General Manager and Financial Director[184]. - The company has recognized new core technical personnel, including Dou Zechun and Qi Yu, while others were no longer recognized due to position adjustments[185]. Strategic Acquisitions and Investments - The company completed the acquisition of 100% equity in Hunan CRRC Commercial Vehicle Power Technology Co., Ltd. in December 2024, enhancing its market position[32]. - The company plans to invest approximately CNY 946 million in the low-voltage power component capacity construction project in Yixing[143]. - The company plans to introduce strategic investors and an employee stock ownership plan, raising 432.78 million RMB in capital for Zhuzhou CRRC Times Semiconductor Co., Ltd., maintaining a 77.7771% ownership stake[149]. - The company completed a strategic acquisition of a tech startup for 500 million yuan, enhancing its technological capabilities[167]. Governance and Compliance - The governance structure of the company is designed to ensure compliance with legal regulations and protect shareholder interests, enhancing governance levels[157]. - The company has established various specialized committees, including the Audit Committee and the Risk Control Committee, to enhance governance[191]. - The audit committee held five meetings during the reporting period, ensuring compliance with relevant laws and regulations[197]. - The audit committee reviewed the 2023 annual report and financial statements, approving all 13 proposals unanimously[198].

点击 关注我们 报告发布日期：2025年3月24日 报告名称:《 能源电子月报： 汽车功率持续升高，碳化硅渗透率稳步提升 》 分析师：胡剑 S0980521080001/胡慧 S0980521080002/ 叶 子 S0980522100003 / 詹浏洋 S0980524060001 / 张大为 S0980524100002/ 李书颖 S0980522100003 联系人：连欣然 完整报告请扫描下方二维码 国信研究 能源电子月报: 汽车功率持续升高,碳化硅 渗透率稳步提升 2025-03-24 | 胡剑 胡慧 叶子 詹浏洋 连欣然 新能源汽车:我国新能源汽车功率200kW以上的主驱 占比由22年的9%提升至25年1月的28%. 电驱最高峰值 功率由22年255kW升至25年1月的450kW。整车情况:根 据中汽协数据,我国2月新能源汽车单月销量89万辆(YoY +87.1%,MoM-5.5%),产量88.8万辆(YoY+91.6%,MoM- 12.5%),单月新能源车渗透率为41.9%。主驱功率模块情 况: 主驱IGBT模块主力厂商芯联集成、时代电气、土兰微 、斯达半导领先优势逐步确立,海外厂商份额逐步下降 ...

Financial Performance - Total operating revenue for 2024 reached RMB 2,490,893.75 million, a year-on-year increase of 13.42%[3] - Operating profit amounted to RMB 430,239.11 million, reflecting a growth of 32.28% compared to the previous year[3] - Total profit for the period was RMB 433,297.86 million, up 31.52% year-on-year[3] - Net profit attributable to shareholders of the parent company was RMB 370,258.59 million, representing a 21.77% increase from the previous year[3] - Basic earnings per share were RMB 2.62, reflecting a year-on-year increase of 21.86%[4] Return on Equity - The weighted average return on equity was 9.31%, an increase of 0.83 percentage points year-on-year[4] Assets and Equity - Total assets at the end of the reporting period were RMB 6,455,202.62 million, a growth of 20.03% from the beginning of the period[6] - Shareholders' equity attributable to the parent company was RMB 4,150,226.72 million, up 12.17% from the beginning of the period[6] Strategic Initiatives - The company acquired 100% equity of Hunan CRRC Commercial Vehicle Power Technology Co., Ltd., leading to adjustments in financial data[5] - The company emphasized its commitment to high-quality development and capitalized on opportunities in "intelligent, digital, and green" growth[6]

Financial Performance - Operating revenue for the third quarter reached ¥5,972,702,299, an increase of 8.10% compared to the same period last year[4] - Net profit attributable to shareholders was ¥994,344,893, reflecting a growth of 10.61% year-on-year[4] - The basic earnings per share for the quarter was ¥0.70, an increase of 9.37% year-on-year[4] - The company achieved operating revenue of RMB 16.256 billion in Q3 2024, a year-on-year increase of 15.33% from RMB 14.095 billion in the same period last year[12] - Net profit attributable to shareholders for the first three quarters of 2024 was RMB 2,501,185,911, representing a 21.8% increase from RMB 2,053,097,956 in the same period of 2023[17] - Total comprehensive income for the first three quarters of 2024 was RMB 2,704,976,961, an increase of 27.0% from RMB 2,130,377,547 in the same period of 2023[18] Research and Development - Research and development expenses totaled ¥615,135,965, representing a significant increase of 31.28% compared to the previous year[4] - The ratio of R&D expenses to operating revenue increased to 10.30%, up by 1.82 percentage points from the previous year[4] - Research and development expenses increased to RMB 1,534,294,907 in the first three quarters of 2024, up 20.9% from RMB 1,268,225,480 in the same period of 2023[16] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥63,219,627,390, marking an 18.38% increase year-on-year[4] - The company's total current assets as of September 30, 2024, amounted to RMB 43.978 billion, an increase from RMB 37.515 billion at the end of 2023[13] - Non-current assets totaled RMB 19.242 billion as of September 30, 2024, compared to RMB 15.890 billion at the end of 2023[14] - Total liabilities increased to RMB 19.607 billion from RMB 15.688 billion at the end of 2023[15] Shareholder Information - The company reported a total equity attributable to shareholders of ¥40,540,547,152, an increase of 9.97% compared to the previous year[4] - The total number of common shareholders at the end of the reporting period is 16,562[7] - The largest shareholder, CRRC Zhuzhou Electric Locomotive Research Institute, holds 591,000,716 shares, representing 41.87% of total shares[7] - HKSCC NOMINEES LIMITED is the second-largest shareholder with 541,302,966 shares, accounting for 38.35%[7] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone holding over 80%[9] - The company has a total of 15,511 A-share shareholders and 1,051 H-share shareholders at the end of the reporting period[10] Cash Flow - The net cash flow from operating activities was not applicable for this reporting period[4] - In the first three quarters of 2024, the company generated a net cash flow from operating activities of ¥554,465,376, compared to a negative cash flow of ¥233,845,840 in the same period of 2023[20] - Total cash inflow from operating activities reached ¥13,389,537,887, an increase of 12.6% from ¥11,885,470,986 in the first three quarters of 2023[20] - Cash outflow from investing activities resulted in a net cash flow of -¥4,460,077,013, a significant decline from a positive cash flow of ¥238,156,412 in the same period last year[20] - Cash inflow from financing activities increased to ¥4,891,877,377, compared to only ¥653,296,466 in the same period of 2023[21] Business Segments - The rail transportation business generated RMB 9.434 billion, up 22.16% from RMB 7.722 billion year-on-year, with rail transportation electrical equipment contributing RMB 7.631 billion, also a 22.05% increase[12] - The emerging equipment business reported revenue of RMB 6.755 billion, an 11.05% increase from RMB 6.083 billion, with power semiconductor devices growing by 26.84% to RMB 2.712 billion[12] - The company reported a significant decrease in sensor device revenue, which fell by 44.87% to RMB 2.33 billion[12]

Financial Performance - Operating revenue for Q3 2024 reached ¥5,972,702,299, an increase of 8.10% year-on-year[2] - Net profit attributable to shareholders was ¥994,344,893, reflecting a growth of 10.61% compared to the same period last year[2] - Basic and diluted earnings per share were both ¥0.70, up 9.37% from the previous year[3] - The company achieved operating revenue of RMB 16.256 billion in Q3 2024, representing a year-on-year increase of 15.33% from RMB 14.095 billion in the same period last year[11] - Net profit attributable to shareholders of the parent company was CNY 2,501,185,911, up 21.8% from CNY 2,053,097,956 in the previous year[19] - The company reported a gross profit of CNY 2,322,115,119, which is a 20.5% increase from CNY 1,894,215,070 in the previous year[19] - The company’s basic earnings per share for the period was CNY 1.77, compared to CNY 1.45 in the previous year, reflecting a growth of 22.1%[19] Research and Development - R&D investment totaled ¥615,135,965, representing a 31.28% increase year-on-year, accounting for 10.30% of operating revenue[3] - The company plans to continue expanding its R&D efforts and enhance its market presence through strategic initiatives[5] - The company is actively engaged in research and development of new technologies to support its growth strategy[12] - Research and development expenses for the first three quarters amounted to CNY 1,534,294,907, representing a 20.9% increase from CNY 1,268,225,480 in the same period last year[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥63,219,627,390, an increase of 18.38% from the end of the previous year[3] - Total assets increased to CNY 63,219,627,390, a growth of 18.3% from CNY 53,404,847,387 year-over-year[16] - Total liabilities rose to CNY 19,606,696,154, compared to CNY 15,688,316,505 in the previous year, reflecting an increase of 25.5%[16] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥554,465,376, with no applicable comparison for the current period[2] - The net cash flow from operating activities for the first three quarters of 2024 was RMB 554,465,376, a significant improvement compared to a net outflow of RMB -233,845,840 in the same period of 2023[20] - Total cash inflow from operating activities reached RMB 13,389,537,887, up from RMB 11,885,470,986 in the previous year, reflecting a growth of approximately 12.6%[20] - Cash outflow from investment activities was RMB 16,822,719,504, an increase from RMB 13,555,765,879 in 2023, indicating a rise of about 24.5%[20] - The net cash flow from financing activities was RMB 2,690,486,512, recovering from a net outflow of RMB -501,017,915 in the same period last year[21] Market Presence and Strategy - The company is focusing on expanding its market presence and enhancing its product offerings in the rail transportation and emerging equipment sectors[12] - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge[19] Shareholder Information - Shareholder structure includes major stakeholders such as CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd. holding 41.87% of shares[6] - The company reported a total of 15,511 A-share shareholders and 1,051 H-share registered shareholders by the end of the reporting period[10] Inventory and Receivables - Accounts receivable increased to RMB 14.471 billion, compared to RMB 9.636 billion at the end of 2023, indicating a significant rise in outstanding payments[13] - Inventory levels rose to RMB 6.465 billion, up from RMB 5.443 billion, reflecting increased production or stockpiling[13] Cash and Cash Equivalents - The company's cash and cash equivalents stood at RMB 7.381 billion as of September 30, 2024, down from RMB 7.903 billion at the end of 2023[13] - The company’s cash and cash equivalents increased to CNY 43,977,960,941, up from CNY 37,514,972,626, indicating a growth of 17.5%[16] - The company reported a total cash and cash equivalents balance of RMB 5,792,473,531 at the end of the period, down from RMB 6,576,798,295 at the end of the previous year[21] Non-Recurring Gains and Losses - Non-recurring gains and losses amounted to ¥105,770,125 for the current period, with a total of ¥453,927,535 year-to-date[4]

证券代码：688187（A 股） 证券简称：时代电气（A 股） 公告编号：2024-049 证券代码： 3898（H 股） 证券简称:时代电气（H 股） 2024 年 10 月 30 日 1 株洲中车时代电气股份有限公司 关于变更公司类型并办理工商变更登记的公 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、准确性和完整性依法承担法律责任。 株洲中车时代电气股份有限公司（以下简称"公司"或"时代电气"）于 2024 年 10 月 30 日召开第七届董事会第十三次会议，审议通过了《关于变更公司类型的 议案》。具体情况如下： 株洲中车时代电气股份有限公司营业执照上现登记的公司类型为"股份有限公 司（台港澳与境内合资、上市）"，根据《中华人民共和国外商投资法》《中华人民 共和国外商投资法实施条例》等法律法规及规范性文件的规定，公司拟向市场监督 管理部门申请将企业类型变更为"股份有限公司（港澳台投资、上市）"。上述变更 事项最终以市场监督管理部门核定的内容为准。 本次变更事项尚需提交公司股东会审议。董事会提请股东会授权公司管理层及 相关人员办理工商变更相关事宜 ...