Financial Performance - Operating revenue for Q3 2023 was approximately RMB 7.99 billion, a decrease of 6.63% compared to the same period last year[4] - Net profit for Q3 2023 reached approximately RMB 842.57 million, an increase of 11.50% year-on-year[4] - Net profit attributable to shareholders was approximately RMB 742.24 million, up 11.26% from the previous year[4] - For the first three quarters of 2023, total operating revenue was RMB 2,462,674.08 million, a decrease of 8.60% compared to the same period last year[11] - Net profit for the first three quarters of 2023 was CNY 2,951,159,986.62, slightly up from CNY 2,948,255,040.66 in 2022, indicating a marginal increase of 0.1%[19] - Net profit for the first three quarters of 2023 reached CNY 2,289,292,081.94, representing an increase of 7.37% from CNY 2,131,966,050.65 in 2022[28] Research and Development - Research and development expenses totaled approximately RMB 483.54 million, representing 6.05% of operating revenue, an increase of 0.68 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2023 were CNY 1,086,665,409.95, slightly up from CNY 1,080,916,105.83 in 2022, showing a growth of 0.5%[18] - The company reported a decrease in research and development expenses to CNY 54,271,654.87 in 2023 from CNY 101,068,395.04 in 2022, a reduction of 46.36%[27] Assets and Liabilities - Total assets as of the end of Q3 2023 were approximately RMB 117.29 billion, a slight increase of 0.41% from the end of the previous year[4] - The company's total liabilities as of September 30, 2023, were CNY 68,971,613,402.59, a decrease from CNY 69,528,809,483.31 at the end of 2022[18] - Shareholders' equity totaled CNY 48,316,660,432.43 as of September 30, 2023, compared to CNY 47,277,735,000.57 at the end of 2022, representing an increase of 2.2%[16] - The total liabilities to equity ratio as of September 30, 2023, was approximately 1.43, indicating a slight improvement in financial leverage compared to the previous year[16] - The total liabilities and equity as of September 30, 2023, amounted to CNY 46,061,771,030.80, down from CNY 49,944,567,542.39 at the end of 2022[26] Cash Flow - Cash flow from operating activities showed a net outflow, with a total of approximately RMB 70.13 million for the quarter[4][6] - In the first three quarters of 2023, the cash inflow from operating activities was CNY 22.80 billion, a decrease of 13.3% compared to CNY 26.44 billion in the same period of 2022[22] - The net cash flow from operating activities was negative CNY 800.98 million, worsening from negative CNY 184.91 million year-over-year[22] - The total cash outflow from investment activities was CNY 640.63 million, slightly down from CNY 709.08 million in the previous year[23] - The net cash flow from investment activities was negative CNY 503.80 million, a significant decline from positive CNY 1.09 billion in the same period of 2022[23] Shareholder Information - The company reported a total of 71,026 ordinary shareholders at the end of the reporting period[7] - The largest shareholder, China Railway Signal Group Co., Ltd., holds approximately 62.37% of the shares[7] Contracts and Revenue Streams - New contracts signed in the first three quarters totaled RMB 50.883 billion, an increase of 12.01% year-on-year[11] - The railway sector saw new contracts amounting to RMB 14.469 billion, up 10.49% year-on-year[11] - The urban rail transit sector's new contracts reached RMB 9.493 billion, an increase of 13.82% year-on-year[11] - The overseas business segment experienced a significant increase in new contracts, totaling RMB 2.002 billion, up 1,014.95% year-on-year[11] - The company reported a significant increase in other business revenue, which rose by 61.93% year-on-year to RMB 83.82 million[11] Accounting Changes - The company announced the implementation of new accounting standards starting from 2023, which will involve adjustments to the financial statements at the beginning of the year[32]

Financial Performance - The company reported a revenue of RMB 5.2 billion for the first half of 2023, representing a year-on-year increase of 12%[16] - The net profit attributable to shareholders was RMB 1.1 billion, up 15% compared to the same period last year[16] - The company's operating revenue for the first half of the year was CNY 16,633,010,199.97, a decrease of 9.52% compared to the same period last year[20] - Net profit attributable to shareholders was CNY 1,823,846,746.52, reflecting a decline of 5.70% year-over-year[20] - The net cash flow from operating activities was negative CNY 871,102,628.48, an improvement from negative CNY 1,091,172,765.94 in the previous year[20] - The company's total assets increased by 1.64% to CNY 118,721,134,594.77 compared to the end of the previous year[20] - Basic earnings per share decreased by 5.56% to CNY 0.17, while diluted earnings per share remained the same[20] - The management provided a performance guidance of 10-15% revenue growth for the second half of 2023[16] Research and Development - The company has allocated RMB 300 million for research and development in advanced signaling technologies for the next fiscal year[16] - The R&D expenditure as a percentage of operating revenue increased to 4.31%, up by 0.20 percentage points from the previous year[20] - Research and development (R&D) expenses totaled RMB 716,990,603.46, a decrease of 5.07% compared to RMB 755,279,166.11 in the previous year[80] - The R&D investment capitalized ratio decreased by 4.60 percentage points to 9.53%[80] - The company filed 629 new patent applications in the first half of 2023, including 549 invention patents, and has received 333 new patent grants[75] - The company has achieved significant advancements in high-speed railway control systems, supporting speeds of up to 450 km/h and enhancing automatic driving capabilities[61] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in international sales by 2025[16] - The company is exploring potential mergers and acquisitions to strengthen its technology portfolio and market position[16] - The board emphasized the importance of risk management strategies in light of potential economic fluctuations impacting the railway sector[16] - The company continues to focus on the rail transit control system and related businesses, with no significant changes in business composition during the reporting period[25] Technology and Innovation - New product development includes the launch of an upgraded Automatic Train Operation (ATO) system, expected to enhance operational efficiency by 30%[16] - The company has developed a safety computer platform technology that meets the highest international functional safety certification standards, ensuring high reliability and performance for train control systems[36] - The company has developed a frequency-hopping key-controlled signal safety modulation and demodulation technology, widely applied in high-speed rail, intercity rail, and conventional rail, achieving critical safety functions such as real-time integrity checks of the rails[38] - The company has established a high-precision simulation analysis platform with an error margin of less than 0.5%, covering approximately 10,000 typical configurations of railway circuit transmission characteristics[41] - The company has implemented a comprehensive video surveillance technology for rail transit, addressing challenges such as high-definition video stream forwarding and intelligent maintenance, enhancing overall safety management[43] Industry Trends and Challenges - The global railway infrastructure construction is expected to remain at a high level, but competition is intensifying due to protectionist trends in Europe and the U.S.[26] - The domestic railway industry is expected to maintain a relatively high level of infrastructure construction, although the company is in the later stages of railway infrastructure projects[27] - The increasing proportion of urban rail transit construction is expected to become a new growth point for the industry, driven by the rising demand for medium and low-capacity rail systems[30] - The rail transit control systems industry is characterized by high technical barriers, requiring strong risk resistance and R&D capabilities for sustainable product and service delivery[30] Project Investments - The company is developing a new generation of dispatching centralized systems with a total investment of RMB 15,858.06 million, of which RMB 1,097.90 million was invested in the current period[85] - The project for high-density autonomous operation control technology has a total investment of RMB 18,180.98 million, with RMB 3,153.05 million invested in the current period[87] - The new type of train control system project has a total investment of RMB 16,294.01 million, with RMB 1,139.71 million invested in the current period[89] - The company has completed the development of a train autonomous control system (TACS) for commercial operation on Shenzhen Line 20, with a total investment of RMB 20,169.63 million[89] - The company has achieved a total investment of CNY 9,030.77 million in the intelligent operation and maintenance system, with CNY 457.44 million invested in the current period[96] Awards and Recognition - The company has received multiple national science and technology awards, including a first-class award for the complete technology and equipment for China's railway speed-up project in 2002[63] - The company has been recognized with several Chinese patent awards, including the Excellent Award for a dynamic tracking method for train positioning in urban rail transit systems in 2015[65] - The company has been recognized as a "National-level Specialized and Innovative 'Little Giant'" enterprise in 2022 and 2023, highlighting its leadership in the railway signal equipment sector[66]

Financial Performance - The company reported unaudited interim results for the six months ended June 30, 2023[1]. - The company's operating revenue for the first half of 2023 was approximately ¥16.63 billion, a decrease of 9.52% compared to the same period last year[20]. - Net profit attributable to shareholders for the same period was approximately ¥1.82 billion, down 5.70% year-on-year[20]. - The net cash flow from operating activities was approximately -¥871 million, an improvement from -¥1.09 billion in the previous year[20]. - The total assets at the end of the reporting period were approximately ¥118.72 billion, an increase of 1.64% compared to the end of the previous year[20]. - The basic earnings per share for the first half of 2023 was ¥0.17, a decrease of 5.56% from ¥0.18 in the same period last year[20]. - Research and development expenses accounted for 4.31% of operating revenue, an increase of 0.20 percentage points compared to the previous year[20]. - Research and development (R&D) expenses totaled RMB 716,990,603.46, a decrease of 5.07% compared to RMB 755,279,166.11 in the previous year[80]. - Capitalized R&D expenses decreased significantly by 35.98% to RMB 68,317,319.70 from RMB 106,704,500.35 in the previous year[80]. Corporate Governance and Risk Management - The board guarantees the truthfulness, accuracy, and completeness of the semi-annual report, with no false records or major omissions[2]. - There are no significant risks related to non-operational fund occupation by controlling shareholders or related parties[3]. - The report includes a detailed description of existing risk factors in the management discussion and analysis section[2]. - The report does not indicate any special arrangements for corporate governance[3]. - The company emphasizes that forward-looking statements regarding future economic trends and macro policies may be subject to change[3]. - The company operates under the supervision of the State-owned Assets Supervision and Administration Commission[9]. Business Operations and Market Conditions - The company continues to focus on the rail transit control system and related businesses, with no significant changes in business composition during the reporting period[25]. - The global railway infrastructure construction remains at a high level, but competition in the international market is intensifying due to protectionism trends in Europe and the United States[26]. - The domestic railway industry is expected to maintain a relatively high level of infrastructure construction, although the company’s business is experiencing a delay effect from favorable policies[27]. - The company anticipates continued high investment levels in the domestic subway construction market during the "14th Five-Year Plan" period, despite tightened national policies[30]. Technological Advancements and Innovations - The company has developed core technologies for train operation control, which are widely applied in high-speed rail and urban rail transit, ensuring safe and efficient operations[29]. - The company holds 3,901 authorized patents in China as of June 30, 2023, including 1,902 invention patents, ensuring protection of its core technologies[31]. - The company has successfully applied its autonomous train driving technology across high-speed rail, intercity rail, and urban rail transit, improving punctuality, accuracy of stops, and operational energy consumption[33]. - The comprehensive automation technology for freight railways has been widely implemented, enhancing efficiency and safety in freight operations[33]. - The intelligent detection and maintenance technology for rail transit has significantly reduced equipment failure rates and improved maintenance efficiency through proactive monitoring and lifecycle management[36]. - The company has developed a safety computer platform technology that meets the highest international functional safety certification standards, ensuring high reliability and performance for its control systems[36]. - The company is focusing on digitalization and intelligence in rail transit operations, leveraging big data and cloud services for enhanced operational risk management[36]. - The company has developed a frequency-hopping key-controlled signal safety modulation and demodulation technology, widely applied in high-speed rail, intercity rail, and conventional rail, achieving critical safety functions such as real-time integrity checks of the rails[38]. - The company has established a high-precision simulation analysis platform with an error margin of less than 0.5%, covering approximately 10,000 typical configurations of railway circuit transmission characteristics[41]. - The comprehensive video monitoring technology for rail transit has been successfully implemented in high-speed and intercity rail, addressing challenges such as high-definition video stream forwarding and intelligent maintenance[43]. - The company has made advancements in broadband wireless communication technology based on LTE-M/R, enhancing the efficiency and experience of cluster scheduling and command systems[41]. - The company has developed a regional rail transit collaborative transportation and service technology, improving overall transportation capacity and emergency response efficiency in urban clusters[43]. - The lightweight rail transit intelligent transportation and control technology integrates cloud computing, enabling autonomous train operation control and smart travel services[47]. - The company has created a leading international high-speed switch conversion system technology, providing robust safety guarantees for railway development[38]. - The company has overcome significant technical challenges in switch conversion synchronization and integrated electrical interface technology, enhancing the reliability of rail systems[39]. - The company has implemented a comprehensive management system for rail transit safety, ensuring systematic quality assurance throughout the manufacturing process[41]. - The company has achieved significant advancements in simulation testing technology for rail transit, supporting various stages of system verification and integration[40]. - The autonomous train operation technology has achieved significant improvements in resource management and safety protection, enhancing operational efficiency and real-time processing capabilities[49]. - The full electronic computer interlocking control system has reached a safety integrity level of SIL4, reducing installation and debugging time by over 80%[51]. - The CTCS2+ATO automatic return technology can automatically return trains within 3 minutes and switch ends in 20 seconds, effectively reducing passenger waiting times[53]. - The video intelligent analysis technology utilizes deep learning to enhance performance in complex environments, providing customized solutions for various scenarios[53]. - The fully automated flexible train formation technology optimizes transport organization based on passenger flow characteristics, improving operational efficiency and reducing energy consumption[56]. - The heavy-haul train group operation control system enhances transportation efficiency and reduces labor intensity through advanced communication technologies[56]. - The CR450 control system technology supports safe operation at speeds of up to 450 km/h, strengthening China's position in high-speed rail technology[56]. - The company has developed a high-speed magnetic levitation control system technology capable of supporting train operations at speeds of 600 km/h and above, overcoming multiple technical challenges[58]. - The digital comprehensive management technology for freight yards enhances the automation and intelligence of key equipment, improving the efficiency of cargo handling operations[58]. - The company has introduced a safety-type railway intelligent signal display technology, featuring energy-saving and long-life smart LED signal machines, which serve as an upgrade to existing railway signal display equipment[58]. - The system RAM modeling and evaluation technology aids in estimating and evaluating system reliability and maintainability, helping to shorten the verification cycle of control system equipment[58]. Research and Development Initiatives - The company is actively deploying innovation chains around the industrial chain, focusing on the transformation and industrialization of core technologies, which cover various railway control systems and automation systems[21]. - The autonomous train operation technology has been developed to manage resources and ensure active interval protection, enhancing freight capacity through dynamic configuration of train tracking intervals[21]. - The introduction of a fully automated flexible train formation technology aims to improve operational service levels, reduce energy consumption, and enhance the ability to respond to passenger flow uncertainties[21]. - The new heavy-load train group operation control system technology is designed to improve transportation efficiency and reduce labor intensity, significantly enhancing the overall effectiveness of freight railway transport[21]. - The company has achieved significant advancements in high-speed magnetic levitation control systems, supporting train operations at speeds of 600 km/h and above, addressing multiple technical challenges[21]. - The digital comprehensive management technology for freight yards has been introduced to enhance automation and efficiency in cargo handling processes[21]. - The company has received multiple national science and technology awards, including the first-class award for the complete technology and equipment for China's railway speed-up project in 2002[63]. - The company has been recognized with several Chinese patent awards, including the Excellent Award for a dynamic tracking method for train positioning in urban rail transit systems in 2015[65]. - The core technologies of the company have not undergone significant changes during the reporting period, ensuring stability in its operational capabilities[21]. - The company continues to enhance its core business in the design, manufacturing, and delivery of railway traffic control systems, relying heavily on its core technologies[21]. - The company has been recognized as a "National-level Specialized and Innovative 'Little Giant'" enterprise in 2022 and 2023, highlighting its leadership in the railway signal equipment sector[66]. - During the reporting period, the company completed the construction of an electromagnetic environment effect research and testing platform, and developed a low vacuum tube ultra-high-speed magnetic levitation control system[67]. - The company has achieved significant milestones in international projects, including the successful completion of the Jakarta-Bandung High-Speed Railway, which serves as a flagship project for China's overseas railway operations[70]. - The company has conducted adaptability analysis for communication signal systems on the Sichuan-Tibet Railway, providing equipment selection recommendations and technical route selections[71]. - In the first half of 2023, the company applied for 629 new patents, including 549 invention patents, and received 333 authorized patents, with 259 being invention patents[75]. - The company has established two national railway industry technology innovation bases, focusing on electromagnetic safety and intelligent operation and maintenance applications[67]. - The company has successfully developed a new type of train control system based on Beidou satellite positioning, currently undergoing a one-year field trial[72]. - The company has launched a high-performance autonomous operation control system for urban railways, marking a significant advancement in the industry[73]. - The company has completed the development of various key technologies, including a digital wireless dispatch communication system and a video monitoring system, enhancing operational efficiency[72]. - The company has been awarded multiple national and industry-level science and technology awards for its innovative projects, reinforcing its position as a leader in railway technology[75]. - The company filed 759 new patent applications during the reporting period, with 428 patents granted, bringing the total to 9,556 applications and 6,148 granted patents[76]. - The company has established itself as a national railway industry technology innovation base, recognized by the National Railway Administration[83]. - The total investment for the high-speed railway control system research and equipment development is projected at 7,420.54 million, with 566.71 million invested in the current period and a cumulative investment of 5,705.63 million[91]. - The development of the new generation of railway signal basic equipment has achieved a cumulative investment of 2,390.00 million, with 61.68 million in the current period, and has completed the equipment development phase[93]. - The smart railway signal system has completed the high-frequency digital communication module development, with a total investment of 9,030.77 million, including 457.44 million in the current period[96]. - The vacuum tube (tunnel) system for high-speed maglev has completed system release with a total investment of 1,525.00 million, including 779.75 million in the current period[105]. - The company has achieved a significant milestone in the development of the integrated system and equipment research, with successful trials in the Czech Republic and Germany, indicating advanced domestic technology[104]. - The company has completed the development of the locomotive vehicle-mounted power supply equipment, with a total investment of 1,148.00 million, including 599.16 million in the current period[93]. - The company has made progress in the development of the intelligent operation control system, with a total investment of 11 million, including 457.44 million in the current period[96]. - The company has achieved safety certification for the vehicle-ground communication equipment, enhancing the reliability and maintainability of the signal system[91]. - The company is focusing on expanding its market presence in Europe, particularly with the ETCS vehicle-mounted products, which meet the highest technical standards[93]. - The company has initiated pilot projects in various regions, including state railways, to implement its integrated safety platform[100]. - The company completed the construction of the automation testing platform for ETCS-2/CTCS-3 level train control systems, supporting the Thai railway signal system renovation project[122]. - Total investment in the overseas railway control system experimental platform reached 4,055.15 million, with 51.15 million invested in the current period[109]. - The company achieved a cumulative investment of 1,417.78 million in the autonomous perception system development, focusing on obstacle detection using laser radar technology[124]. - The safety simulation testing platform for integrated security systems was completed, with a total investment of 3,550.00 million and 2,020.02 million invested in the current period[109]. - The company has made significant progress in the development of new train control systems, with a total investment of 428.30 million for the new regional train control system[122]. - The company has successfully completed the construction of laboratories in Serbia and Thailand for the development of interlocking equipment, with a total investment of 434.54 million[111]. - The company is advancing the development of a new generation of urban rail wireless intelligent dispatch communication systems, with a total investment of 516.00 million[146]. - The company has initiated the research and development of 5G communication technology for railway applications, with a total investment of 1,888.00 million[153]. - The company has completed the initial version of the software for the wireless intelligent dispatch communication system, with an investment of 421.75 million in the current period[126]. - The company has achieved SIL4 safety certification for its interlocking products, ensuring high electromagnetic compatibility and lightning protection performance[115]. - Total investment in the railway communication integrated monitoring technology reached 1,323.00 million, with 121.92 million invested this period, completing the development of vehicle-mounted and fixed stations[170]. - The company has completed the prototype assembly of the integrated video surveillance system, achieving industry-leading levels in video cloud application management for railway transportation[169]. - The high-speed railway control system research project has an investment of 1,367.00 million, with 58.21 million invested this period, focusing on safety control and equipment reliability for speeds over 400 km/h[174]. - The digital control system for freight stations has an investment of 1,407.00 million, with 99.09 million invested this period, aimed at improving operational efficiency and safety in freight railway operations[177]. - The company is developing a comprehensive control and dispatching system with an investment of 1,450.00 million, with 73.47 million invested this period, achieving domestic leading levels in regional rail transportation operations[175]. - The railway video cloud application management platform is under development, enhancing the integration of video surveillance and cloud technology for railway operations[169]. - The company has made significant progress in the research and application of the 5G-R system, addressing challenges in reliable communication and operational control in complex environments[172]. - The investment in the railway control system for the Sichuan-Tibet railway is 2,000.00 million, with 131.00 million invested this period, focusing on high-reliability communication systems under extreme conditions[172]. - The company aims to enhance the automation level of rail transportation through integrated control technology, targeting improvements in service efficiency and safety[175]. - The development of a three-dimensional real-time video management system for station dispatching is underway, aimed at improving operational oversight and response capabilities[169]. - The company has invested a total of 4,602.09 million in the new generation networked intelligent train control system, with a focus on high-performance return key technology and indoor testing completed[179]. - The ongoing development of the networked urban rail control system aims to enhance urban rail traffic scheduling, emergency response capabilities, and intelligent operation and maintenance, leveraging new communication and AI technologies[179]. - The company has allocated 601.58 million for the urban railway dispatching system, achieving significant progress in real-time precise control and emergency response planning models[181]. - A total investment of 5,809.36 million has been made in the integrated automation system for urban rail operations, with 94.48 million invested this period, focusing on multi-professional collaboration and real-time monitoring[184]. - The company is conducting research on multi-dimensional energy composite interval rail break detection technology, aiming to achieve international advanced levels in safety and efficiency[184]. - The company has completed the switch conversion for the Tanzania project, with a total investment of 5,608.94 million, enhancing the safety of rail and urban rail equipment[193].

3.关于解聘徐宗祥相关职务的独立意见 公司全体独立董事同意解聘徐宗祥相关董事会专门委员 会主任、委员以及公司总裁职务。根据《公司法》、《公司章 程》等有关规定，徐宗祥的辞任未导致公司第四届董事会董事 人数低于法定最低人数，不会影响董事会的正常运作。 中国铁路通信信号股份有限公司独立董事关于公司第 四届董事会第 15 次会议相关事项的独立意见 根据《上市公司独立董事规则》《上海证券交易所科创板 股票上市规则》等法律法规的规定，我们作为中国铁路通信信 号股份有限公司（以下简称"公司"）的独立董事，本着实事 求是和对公司及全体股东负责的原则，对公司第四届董事会第 15 次会议的部分事项，发表独立意见如下: 1.关于公司 2023 年上半年募集资金存放与实际使用情况 的专项报告的独立意见 公司全体独立董事认真审阅了公司编制的《2023 年上半 年募集资金存放与实际使用情况的专项报告》，认为公司 2023 年上半年募集资金的存放和使用符合中国证券监督管理委员 会、上海证券交易所关于上市公司募集资金存放和使用的相关 规定，不存在违规使用募集资金的行为，不存在改变或变相改 变募集资金投向和损害股东利益的情况。 2.关于公司 ...

证券代码：688009 证券简称：中国通号 公告编号：2023-024 中国铁路通信信号股份有限公司 关于董事、高管变动的公告 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。 2023年8月24日，中国铁路通信信号股份有限公司（以下简称"公司"）董 事会收到公司执行董事、总裁徐宗祥先生递交的辞任报告。徐宗祥先生因达到法 定退休年龄，申请辞去公司第四届董事会执行董事、相关董事会专门委员会主任、 委员以及公司总裁职务。经公司第四届董事会第15次会议审议通过，同意解聘徐 宗祥相关董事会专门委员会主任、委员以及公司总裁职务。 公司对徐宗祥先生在任职期间为公司做出的贡献表示衷心感谢！ 特此公告。 中国铁路通信信号股份有限公司董事会 2023年8月25日 根据《公司法》《公司章程》等有关规定，徐宗祥先生的辞任未导致公司第 四届董事会董事人数低于法定最低人数，不会影响董事会的正常运作。徐宗祥先 生在相关任职期间与公司董事会和管理层均无任何意见分歧。辞任报告自送达公 司董事会之日起生效。辞任后，徐宗祥先生将不再担任公司任何职务。 ...

中国铁路通信信号股份有限公司对通号集团财务有限公 司的风险持续评估报告 企业类型：其他有限责任公司 — 1 — 统一社会信用代码：91110106MABX5B7E32 根据《企业集团财务公司管理办法》《上海证券交易所上 市公司自律监管指引第5号——交易与关联交易》等相关规定， 中国铁路通信信号股份有限公司（以下简称"本公司"）通过 查验财务公司金融许可证、营业执照等证件资料，并审阅财务 公司的财务报表及相关数据指标，对财务公司的经营资质、内 控、业务和风险状况进行了评估，具体情况报告如下： 一、财务公司基本情况 通号集团财务有限公司是 2022 年 8 月 15 日经中国银行保 险监督管理委员会（现为国家金融监督管理总局）批准设立， 并核发金融许可证的非银行金融机构，于 2022 年 8 月 16 日经 国家工商行政管理总局核准注册成立。财务公司由中国铁路通 信信号集团有限公司（以下简称"通号集团"）和本公司共同 出资设立，注册资本为 20 亿元，本公司出资人民币 19 亿元， 持有财务公司 95%的股权，通号集团出资人民币 1 亿元，持有财 务公司 5%的股权。 法定代表人：戴学兵 注册地址：北京市丰台区汽 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 中 國 鐵 路 通 信 信 號 股 份 有 限 公 司 China Railway Signal & Communication Corporation Limited* （在中華人民共和國註冊成立的股份有限公司） （股份代號：03969） 2 0 2 3 年 第 一 季 度 報 告 中國鐵路通信信號股份有限公司（「本公司」或「公司」）董事會欣然宣佈本公司及其 附屬公司截至2023年3月31日止第一季度期間按照中國企業會計準則編製的未經 審計財務資料。本公告乃根據香港法例第571章證券及期貨條例第XIVA部項下內 幕消息條文及香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)和 第13.10B條的要求作出。 本公告載列本公司在上海證券交易所網站刊登之《中國鐵路通信信號股份有限公 司2023年第一季度報告》的中文版本和英文翻譯版本，僅供參閱。如中英文版本 有任何不一致，以中文版本為準。 ...

Financial Performance - The company's operating revenue for 2022 was CNY 40,203,207,773.29, an increase of 4.81% compared to CNY 38,358,297,108.78 in 2021[25]. - Net profit attributable to shareholders for 2022 was CNY 3,633,640,258.62, reflecting a growth of 10.96% from CNY 3,274,672,689.28 in 2021[25]. - The net profit after deducting non-recurring gains and losses was CNY 3,416,830,555.97, up by 9.38% from CNY 3,123,863,726.28 in the previous year[25]. - The net cash flow from operating activities decreased by 24.80% to CNY 2,082,161,660.88 from CNY 2,768,701,491.06 in 2021[25]. - The total assets at the end of 2022 were CNY 116,806,544,483.88, representing a 7.22% increase from CNY 108,942,588,838.30 at the end of 2021[25]. - Basic earnings per share for 2022 were CNY 0.33, a 10.00% increase from CNY 0.30 in 2021[27]. - The R&D expenditure as a percentage of operating revenue was 4.66%, a decrease of 0.30 percentage points from 4.96% in 2021[27]. - The weighted average return on net assets increased to 8.17%, up by 0.60 percentage points from 7.57% in 2021[27]. - The company reported quarterly revenues of CNY 6,941,051,579.25, CNY 11,442,310,858.50, CNY 8,561,411,457.15, and CNY 13,258,433,878.39 for Q1, Q2, Q3, and Q4 of 2022 respectively[29]. - The net profit attributable to shareholders for Q4 2022 was CNY 1,032,443,413.29, showing a strong performance in the last quarter[29]. Research and Development - The company invested RMB 1.874 billion in R&D throughout the year, focusing on key core technology breakthroughs and applications in various metro lines[9]. - The company is actively engaged in research and development of new technologies, including various train control systems[6]. - The company has developed a regional rail transportation collaborative operation and service system, which has completed on-site demonstration applications[56]. - The company has developed a high-density automatic operation control system for heavy freight trains, aimed at improving transportation efficiency and reducing energy consumption[57]. - The company has developed a new type of train control system based on Beidou satellite positioning, completing comprehensive field testing[83]. - The company has developed advanced technologies for automatic train operation and intelligent detection and maintenance in rail transit, supporting rapid market promotion[118]. - The company has achieved a leading level in the industry with its digital track circuit technology, enhancing safety and reliability in complex environments[97]. - The company has developed a fully electronic interlocking control system with a safety integrity level of SIL4, significantly reducing installation and debugging time by over 80%[74]. - The company has developed a lightweight intelligent relay suitable for railway signal systems, enhancing safety and reliability[103]. - The company has developed a smart maintenance system for subways, expected to significantly improve maintenance efficiency and reduce labor costs through automated functions and cloud-based management[105]. Strategic Initiatives - The company is committed to implementing the "14th Five-Year" strategic plan, focusing on reform and development to adapt to new market conditions[8]. - The company aims to strengthen its position as a world-class enterprise in the railway control system technology sector, focusing on high-quality development and brand building[14]. - The company is actively pursuing international projects, with successful openings of the Hungary-Serbia railway and high-standard railways in Egypt and Indonesia[12]. - The company aims to enhance its technological innovation capabilities and accelerate the development and market transformation of new technologies and products[132]. - The company plans to leverage its integrated advantages across the entire industry chain, including design, manufacturing, and installation[174]. - The company aims to achieve stable growth and optimize its industrial system while focusing on technological innovation and risk prevention in 2023[175]. Market Position and Competition - The company maintains a leading position in the urban rail transit signal system integration sector, securing contracts for 22 projects, which helped maintain over 50% market share nationally[36]. - The company has strengthened its overseas market presence, leveraging successful projects like the Hungary-Serbia high-speed railway to enhance its global brand influence[52]. - The company faces increased competition in the railway construction and urban rail transit markets, necessitating a focus on technological innovation to maintain competitiveness[137]. - The competitive landscape in the rail transit industry is expected to remain stable in the short term, with increasing complexity in market operations due to various factors[173]. - The company anticipates intensified competition in the rail transit control systems sector, particularly from domestic and international players[171]. Corporate Governance and Compliance - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[3]. - The company has not reported any violations of decision-making procedures regarding external guarantees[3]. - The company’s board of directors has fully attended the board meeting, ensuring governance and oversight[2]. - No directors, supervisors, or senior management have any interests or short positions in the company's shares or related securities as of December 31, 2022[197]. - The company has purchased effective directors' insurance for its directors as of the report date[200]. Social Responsibility - The company donated a total of RMB 595,000 to local charitable organizations and impoverished county governments in 2022[190].

Financial Performance - The company has not achieved profitability since its listing, indicating ongoing challenges in financial performance[3]. - The company's operating revenue for 2022 was ¥40,203,207,773.29, representing a 4.81% increase from ¥38,358,297,108.78 in 2021[26]. - The net profit attributable to shareholders for 2022 was ¥3,633,640,258.62, a 10.96% increase compared to ¥3,274,672,689.28 in 2021[26]. - The net profit after deducting non-recurring gains and losses for 2022 was ¥3,416,830,555.97, reflecting a 9.38% increase from ¥3,123,863,726.28 in 2021[26]. - The net cash flow from operating activities decreased by 24.80% to ¥2,082,161,660.88 in 2022 from ¥2,768,701,491.06 in 2021[26]. - The total assets at the end of 2022 were ¥116,806,544,483.88, a 7.22% increase from ¥108,942,588,838.30 at the end of 2021[26]. - The net assets attributable to shareholders at the end of 2022 were ¥45,323,917,197.95, up 4.06% from ¥43,554,652,753.64 at the end of 2021[26]. - Basic earnings per share for 2022 were ¥0.33, a 10.00% increase from ¥0.30 in 2021[28]. - The R&D expenditure as a percentage of operating revenue was 4.66% in 2022, a decrease of 0.30 percentage points from 4.96% in 2021[28]. - The weighted average return on net assets for 2022 was 8.17%, an increase of 0.60 percentage points from 7.57% in 2021[28]. Governance and Compliance - The report includes a standard unqualified audit opinion from the accounting firm, ensuring the accuracy and completeness of the financial statements[3]. - The company emphasizes the importance of risk management and has outlined potential risks in the management discussion section of the report[4]. - The report indicates that there are no non-operational fund occupations by controlling shareholders or related parties[4]. - The company has not violated any regulatory decision-making procedures regarding external guarantees[4]. - The company is committed to ensuring the authenticity and completeness of the annual report, with all directors present at the board meeting[4]. - The company has a comprehensive governance structure in place, with all board members affirming the report's accuracy[4]. - The company has implemented internal controls to ensure compliance with relevant laws and regulations, and the board believes it is in compliance in significant aspects[179]. - The company has not reported any significant transactions involving directors or supervisors that could constitute a conflict of interest during the reporting period[194]. - The company confirms that there are no interests or conflicts of interest among its directors, supervisors, and senior management in competing businesses as of the report date[197]. - As of December 31, 2022, there are no shareholdings or relevant interests held by directors, supervisors, or senior management that require disclosure under the Securities and Futures Ordinance[198]. Market Expansion and Strategy - The company is actively pursuing market expansion through international projects, including the successful opening of the Hungary-Serbia railway and the high-standard opening of the Egypt railway[13]. - The company plans to strengthen its governance and risk prevention measures to ensure stable growth in 2023[15]. - The company aims to enhance its core competitiveness and achieve high-quality development by focusing on technological innovation and system reform[10]. - The company plans to expand its market presence in both high-speed and conventional rail sectors, ensuring growth in contract amounts[35]. - The company aims for significant growth in overall contract levels in 2023, with increases in core business areas such as railways and urban rail exceeding 2022 levels[39]. - The company is focusing on expanding its overseas business, particularly in key regions along the "Belt and Road" initiative, and exploring municipal and information technology services[39]. - The company aims to strengthen its market foundation and enhance its market power by improving information acquisition and analysis capabilities[39]. - The company is committed to integrating its core technology into other industries, focusing on digital industries and new infrastructure as part of national strategic directions[41]. - The company is focused on enhancing its core competitiveness through strategic research and development in response to emerging technologies and market demands[132]. Research and Development - The company achieved a research and development investment of RMB 1.874 billion in 2022, focusing on key core technology breakthroughs[10]. - The company has made significant progress in the development of autonomous train operation systems and other advanced technologies[10]. - The company has developed a smart passenger analysis system integrating AI algorithms, which has been applied in the Phoenix maglev and Taizhou S1 line[86]. - The company has undertaken 42 national and industry standard formulation tasks, with 2 international standards published[88]. - The company has developed a new type of train control system based on Beidou satellite positioning, completing comprehensive field testing[84]. - The company has developed a fully electronic interlocking control system with a safety integrity level of SIL4, ensuring high safety and reliability, and reducing installation and debugging time by over 80%[75]. - The company has achieved significant advancements in 5G key technology research and equipment development for railway communication systems[83]. - The company has developed a high-precision simulation testing technology for rail transit, capable of supporting the entire lifecycle of system verification and integration[67]. - The company has developed a lightweight rail transportation intelligent control technology integrating various systems for autonomous operation and emergency command, applicable to multiple light rail systems[72]. - The company has developed a smart maintenance system for subways aimed at improving equipment reliability and extending service life, significantly reducing maintenance costs[106]. Awards and Recognition - The company received 11 national quality engineering awards and 3 Luban awards in 2022, reflecting its commitment to quality and excellence[13]. - The company has been recognized as a national-level "Little Giant" enterprise and a "Single Champion" in manufacturing for its railway traffic control systems[81]. - The company has received multiple national science and technology awards, including first-class awards for the China Railway Speed-Up Project and the Daqin Railway Heavy Load Transport Technology[80][81]. Corporate Social Responsibility - The company donated a total of RMB 595,000 to local charitable organizations and impoverished county governments in 2022[191]. - The company emphasizes the importance of its employees for sustainable development, with details provided in the corporate governance section[189]. - The company’s environmental policies and performance are detailed in the environmental, social responsibility, and corporate governance section of the report[176].

Financial Performance - The company's operating revenue for Q3 2022 was RMB 8,561,411,457.15, representing a year-on-year increase of 14.61%[4] - Net profit attributable to shareholders for the same period was RMB 667,112,771.41, an increase of 17.30% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was RMB 640,718,794.54, reflecting a 13.90% year-on-year growth[4] - The basic earnings per share for Q3 2022 was RMB 0.07, up 16.67% from the same period last year[4] - Total operating revenue for the first three quarters of 2022 reached ¥26,944,773,894.90, an increase of 6.36% compared to ¥25,334,693,307.89 in the same period of 2021[18] - Net profit attributable to shareholders of the parent company for the first three quarters of 2022 was ¥2,601,196,845.33, up 8.00% from ¥2,409,215,855.80 in the first three quarters of 2021[19] - The company reported a total operating profit of ¥3,500,488,742.53 for the first three quarters of 2022, an increase of 10.04% from ¥3,180,915,198.63 in the same period of 2021[19] - The net profit for the first three quarters of 2022 reached CNY 2,131,966,050.65, up 12.3% from CNY 1,897,505,260.23 in 2021[28] Assets and Liabilities - The total assets as of the end of the reporting period reached RMB 114,294,596,476.86, a 4.91% increase from the end of the previous year[4] - Total assets as of September 30, 2022, amounted to ¥114,294,596,476.86, compared to ¥108,942,588,838.30 at the end of 2021, reflecting a growth of 4.00%[16] - Total liabilities as of September 30, 2022, were ¥68,124,952,248.47, an increase of 7.00% from ¥63,571,212,916.84 at the end of 2021[15] - The total assets of the company reached approximately ¥114.29 billion, up from ¥108.94 billion at the end of 2021[46] - The company's total liabilities decreased to CNY 16,358,257,236.24 as of September 30, 2022, down from CNY 17,601,397,574.52 at the end of 2021[56] Cash Flow - The company reported a net cash flow from operating activities of RMB 906,260,076.74 for the quarter[4] - Cash flow from operating activities for the first three quarters of 2022 was negative CNY 184,912,689.20, compared to a positive CNY 345,439,532.93 in the same period of 2021, reflecting a decline in operational cash flow[22] - Cash flow from operating activities for the first three quarters of 2022 was negative CNY 655,561,001.35, compared to positive CNY 509,011,615.27 in 2021[29] - The company reported a net cash outflow from financing activities of CNY 1,030,129,284.30 in the first three quarters of 2022, an improvement from a net outflow of CNY 5,686,738,960.91 in the same period of 2021[53] Research and Development - Research and development expenses totaled RMB 459,878,716.88 for the quarter, which is a 10.20% increase year-on-year[4] - Research and development expenses for the first three quarters of 2022 were ¥1,080,916,105.83, compared to ¥977,813,595.54 in the same period of 2021, indicating a rise of 10.52%[18] - Research and development expenses increased to CNY 101,068,395.04 in 2022 from CNY 77,562,080.40 in 2021, reflecting a growth of 30.2%[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 91,035[6] - The largest shareholder, China Railway Signal Group Co., Ltd., held 62.37% of the shares[6] - The total number of common shareholders at the end of the reporting period was 91,035, with the largest shareholder, China Railway Signal & Communication Group, holding 6,604,426,424 shares, accounting for 62.37% of the total shares[36] Market Performance - The railway sector's new external contract amount was RMB 130.96 billion, a year-on-year increase of 27.44%[9] - The overseas business saw a significant increase in revenue, with a 113.41% rise to RMB 94,503.36 million compared to the previous year[9] - The company maintained a leading market share in the urban rail transit sector despite a decline in new contracts due to pandemic-related delays[11] - The company secured over 50% of the national market share by winning 16 projects, including key lines in Xuzhou, Changchun, and Shenzhen[41] Comprehensive Income - Total comprehensive income for the first three quarters of 2022 reached CNY 2,927,745,537.23, an increase from CNY 2,688,585,265.95 in the same period of 2021, representing a growth of approximately 8.9%[20] - The total comprehensive income for the first three quarters of 2022 was approximately CNY 2.13 billion, compared to CNY 1.90 billion in 2021[58]