Financial Performance - The total revenue for 2022 reached 10.861 billion CNY, an increase of 14.51% year-on-year[6]. - The net profit attributable to shareholders was 1.069 billion CNY, a decrease of 12.65% compared to the previous year[6]. - Yingda Trust achieved a revenue of 2.607 billion CNY, up 15.79% year-on-year, with a net profit of 1.404 billion CNY, an increase of 13.90%[6]. - Yingda Securities reported a revenue of 1.891 billion CNY and a net profit of 54.04 million CNY[6]. - Yingda Carbon Assets generated a revenue of 48.40 million CNY, a significant increase of 87.78%, with a net profit of 8.34 million CNY, up 283.29%[6]. - ZhiXin Electric's revenue was 6.315 billion CNY, growing by 12.52%, with a net profit of 68.04 million CNY, an increase of 50.48%[6]. - The company plans to distribute a cash dividend of 0.57 CNY per 10 shares, totaling approximately 325.95 million CNY, which accounts for 30.5% of the net profit attributable to shareholders[10]. - Total revenue for 2022 reached ¥10,861,214,271.72, an increase of 14.51% compared to ¥9,485,273,791.55 in 2021[24]. - Operating income was ¥7,080,914,506.64, reflecting a growth of 23.95% from ¥5,712,643,878.14 in the previous year[24]. - The net cash flow from operating activities increased by 68.97% to ¥1,286,659,899.03, compared to ¥761,481,737.72 in 2021[24]. - The net assets attributable to shareholders increased by 2.74% to ¥18,840,581,032.93 from ¥18,338,602,209.76 in the previous year[24]. - Basic earnings per share for 2022 were ¥0.187, down 12.62% from ¥0.214 in 2021[25]. - The weighted average return on net assets decreased to 5.75%, down from 6.88% in 2021, a reduction of 1.13 percentage points[25]. - The company reported a 15.67% decline in interest income, totaling ¥808,909,067.96 compared to ¥959,218,715.62 in 2021[24]. - Commission and fee income increased by 5.62% to ¥2,971,390,697.12 from ¥2,813,411,197.79 in the previous year[24]. Innovation and Development - The company is committed to innovation, with 7 new patent applications and 2 patents granted in the field of vanadium flow battery technology[6]. - The company completed 121 patent applications in 2022, with 90 of them being invention patents[31]. - The company is actively exploring innovative carbon service models and has launched a comprehensive "carbon management" service platform[63]. - The company is investing in R&D for new products, including high-voltage capacitors and vanadium battery structures, to meet the demands of renewable energy applications[92]. - The company has established a sound incentive mechanism linked to employee performance, skills, and tenure, enhancing employee motivation and corporate cohesion[133]. Green Finance and Sustainability - The company is focusing on green finance and has developed 6 green financial services and 8 green financial products to support low-carbon transitions[7]. - The company issued green bonds and provided carbon management services, facilitating over RMB 6.5 billion in low-cost financing for enterprises[31]. - The company has developed and promoted green products, including energy-efficient transformers, which were recognized in the national energy-saving technology equipment directory[151]. - The company has committed to a paperless office initiative and promotes green commuting among employees[151]. - The company invested CNY 3.2336 million in environmental protection during the reporting period[146]. - The company achieved a reduction of 1,076 tons in carbon dioxide equivalent emissions through various carbon reduction measures[150]. - The company was recognized as the second in the "Central Enterprise ESG Social Value Pioneer 50 Index" by the State-owned Assets Supervision and Administration Commission[148]. Governance and Compliance - The company aims to enhance its governance and has achieved an A-level rating for information disclosure for two consecutive years[7]. - The company has established a comprehensive internal governance structure, including an audit and compliance management committee, nomination committee, and strategic committee[100]. - The company adheres to corporate governance standards, ensuring compliance with relevant laws and regulations during shareholder meetings[98]. - The company has implemented measures to ensure compliance with legal and regulatory requirements, enhancing its governance framework[104]. - The company received an "A" grade for its information disclosure work from the Shanghai Stock Exchange for the 2021 to 2022 period, having disclosed 4 regular reports and 33 temporary announcements[103]. Market and Strategic Focus - The company is focused on enhancing asset management capabilities and developing innovative financial products to support the real economy[36]. - The company plans to continue expanding its market presence in clean energy and integrated energy services, aligning with industry trends towards low-carbon development[63]. - The company is actively pursuing mergers and acquisitions to strengthen its competitive position in the industry[114]. - The company is exploring opportunities for market expansion and strategic partnerships to enhance its competitive position[116]. - The company aims to achieve total operating revenue of RMB 10.8 billion and total profit of RMB 2.6 billion in 2023, with capital expenditures projected at RMB 410 million[91]. Risk Management - The company emphasizes a comprehensive risk control system to prevent major risks and enhance risk management capabilities[90]. - Credit risk management is being strengthened through improved risk preference systems and digital risk control mechanisms[94]. - The company is actively monitoring market risks, including interest rate and commodity price fluctuations, to maintain acceptable risk levels[95]. - The company’s risk management measures were effective, with no major risk events reported throughout the year[31]. Employee and Management Structure - The company has a total of 3,082 employees, with 29 in the parent company and 3,053 in major subsidiaries[132]. - The company employed 648 R&D personnel, accounting for 21.03% of total staff[75]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 10.3033 million yuan[121]. - The remuneration for directors and supervisors is determined by the shareholders' meeting, while the remuneration for senior management is decided by the board of directors[121]. - The company has a diverse management team with members holding positions in various financial and energy-related organizations[119]. Subsidiaries and Joint Ventures - The company’s subsidiary, Yinda Insurance Asset Management Co., generated CNY 27.59 million in revenue from service sales[181]. - The company’s joint venture with Nanjing General Electric Smart Monitoring and Diagnosis Co. reported sales revenue of CNY 2.74 million[181]. - The company’s total sales from various subsidiaries included CNY 425.23 million from leasing services, indicating a diverse revenue stream[181]. Shareholder and Equity Structure - The controlling shareholder, Yingda Group, holds 65.53% of the company's shares, ensuring the company operates independently in business, assets, personnel, and finance[102]. - The top ten shareholders held a total of 3,747,456,382 shares, representing 65.53% of the total shares[197]. - The largest shareholder, State Grid Yingda International Holdings Group Co., Ltd., holds 3,747,456,382 shares, with no pledged or frozen shares[197]. - The company has no significant changes in shareholder structure or asset and liability structure during the reporting period[195].

Financial Performance - Operating revenue for the quarter reached RMB 2,105,185,150.22, a year-on-year increase of 4.83%[4] - Net profit attributable to shareholders of the listed company was RMB 454,256,769.02, a significant year-on-year increase of 187.11%[4] - Total operating revenue for Q1 2023 was 2,105,185,150.22 RMB, up from 2,008,270,897.94 RMB in Q1 2022[16] - Revenue from main business operations in Q1 2023 was 1,101,822,965.40 RMB, slightly up from 1,080,751,408.66 RMB in Q1 2022[16] - Operating profit surged to RMB 809.12 million in Q1 2023, compared to RMB 270.41 million in Q1 2022[17] - Net profit attributable to parent company shareholders rose to RMB 454.26 million in Q1 2023, up from RMB 158.22 million in Q1 2022[17] - Basic earnings per share increased to RMB 0.079 in Q1 2023 from RMB 0.028 in Q1 2022[18] - Total comprehensive income for Q1 2023 was RMB 671.33 million, a significant increase from RMB 155.79 million in Q1 2022[18] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 45,615,207,125.75, an increase of 2.50% compared to the end of the previous year[5] - Total assets increased to 45,615,207,125.75 RMB as of March 31, 2023, compared to 44,501,544,724.80 RMB at the end of 2022[13] - Total liabilities increased to 22,889,722,862.74 RMB as of March 31, 2023, compared to 22,447,390,629.44 RMB at the end of 2022[14] - Monetary funds decreased to 6,243,263,776.06 RMB as of March 31, 2023, from 7,889,952,926.12 RMB at the end of 2022[13] - Trading financial assets increased to 12,985,911,265.73 RMB as of March 31, 2023, from 11,837,035,611.23 RMB at the end of 2022[13] - Accounts receivable slightly increased to 3,438,870,892.63 RMB as of March 31, 2023, from 3,430,804,883.42 RMB at the end of 2022[13] - Inventory increased to 1,446,807,828.71 RMB as of March 31, 2023, from 1,137,847,030.83 RMB at the end of 2022[13] - Short-term borrowings decreased to 2,068,012,724.46 RMB as of March 31, 2023, from 2,716,663,931.09 RMB at the end of 2022[14] - Equity attributable to owners of the parent company increased to 19,356,173,100.28 RMB as of March 31, 2023, from 18,840,581,032.93 RMB at the end of 2022[15] Income and Expenses - Fee and commission income increased by 10.40% year-on-year to RMB 813,777,297.96[4] - Fee and commission income increased to RMB 813.78 million in Q1 2023, up from RMB 737.10 million in Q1 2022[17] - Interest income for Q1 2023 was RMB 189.58 million, slightly down from RMB 190.42 million in Q1 2022[17] - Management expenses surged by 354.03% due to adjustments in financial reporting formats[7] - The company's financial expenses decreased by 75.85% due to increased bank deposit interest income and reduced loan scale[8] - The company's credit impairment losses increased by 430.33% due to higher bad debt provisions[8] Cash Flow - Net cash flow from operating activities was -393.91 million yuan, a decrease of 163.28 million yuan compared to the same period last year[20] - Net cash flow from investing activities was -19.86 million yuan, a decrease of 142.45 million yuan compared to the same period last year[20] - Net cash flow from financing activities was -650.10 million yuan, a decrease of 494.23 million yuan compared to the same period last year[21] - Total cash inflow from operating activities was 5.22 billion yuan, an increase of 2.72 billion yuan compared to the same period last year[20] - Total cash outflow from operating activities was 5.61 billion yuan, an increase of 2.89 billion yuan compared to the same period last year[20] - Cash received from repurchase business increased by 1.73 billion yuan, a significant increase of 1.22 billion yuan compared to the same period last year[20] - Cash received from issuing bonds was 250 million yuan, a decrease of 102.26 million yuan compared to the same period last year[20] - Cash paid for repayment of debts was 915 million yuan, an increase of 348.15 million yuan compared to the same period last year[21] - Cash paid for taxes and fees was 685.51 million yuan, an increase of 138.01 million yuan compared to the same period last year[20] - Net increase in cash and cash equivalents was -1.06 billion yuan, a decrease of 799.81 million yuan compared to the same period last year[21] - Cash received from sales of goods and services grew to RMB 1.33 billion in Q1 2023, up from RMB 1.12 billion in Q1 2022[19] - Cash received from interest and commission fees increased to RMB 1.07 billion in Q1 2023, compared to RMB 1.01 billion in Q1 2022[19] Shareholder Information - The top shareholder, State Grid Yingda International Holdings Group Co., Ltd., holds 65.53% of the company's shares[9] Return on Equity - The company's weighted average return on equity (ROE) was 2.38%, an increase of 1.52 percentage points year-on-year[4] Contract Liabilities - The company's contract liabilities increased by 126.19% due to higher advance payments for goods[7]

Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) This report is the unaudited Q3 2022 report of State Grid Yingda Co., Ltd., with the Board, Supervisory Board, and management affirming its truthfulness and completeness - The financial statements for this quarter are unaudited[3](index=3&type=chunk) - The company's Board of Directors, Supervisory Board, and management assume legal responsibility for the truthfulness, accuracy, and completeness of the report content[3](index=3&type=chunk) I. Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) (I) Key Accounting Data and Financial Indicators](index=1&type=section&id=(%E4%B8%80)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company achieved significant growth in total operating revenue and operating revenue in Q3 2022 and YTD, but net profit attributable to shareholders and basic earnings per share decreased year-on-year, while total assets and owners' equity attributable to shareholders increased compared to the end of the previous year Key Financial Indicators for Q3 2022 and YTD | Indicator | Current Period (Q3 2022) | YoY Change (%) | Year-to-Date (YTD 2022) | YoY Change (%) | | :------------------------------------------------------------------------------------------------------- | :----------------- | :----------- | :----------------- | :----------- | | Total Operating Revenue | 2,812,849,802.11 | 39.41 | 7,219,432,963.53 | 27.95 | | Operating Revenue | 1,876,525,992.07 | 77.96 | 4,387,629,886.08 | 52.40 | | Interest Income | 191,387,856.80 | -17.70 | 591,845,283.79 | -10.35 | | Fee and Commission Income | 744,935,953.24 | 1.94 | 2,239,957,793.66 | 6.49 | | Net Profit Attributable to Shareholders of Listed Company | 202,224,386.98 | -39.86 | 822,994,893.33 | -16.13 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | 202,004,286.15 | -39.15 | 810,547,575.26 | -16.39 | | Net Cash Flow from Operating Activities | 不适用 | 不适用 | 586,959,925.23 | -33.47 | | Basic Earnings Per Share (Yuan/share) | 0.035 | -40.68 | 0.144 | -16.28 | | Diluted Earnings Per Share (Yuan/share) | 0.035 | -40.68 | 0.144 | -16.28 | | Weighted Average Return on Net Assets (%) | 1.08 | 减少0.85个百分点 | 4.39 | 减少1.15个百分点 | Balance Sheet Indicators as of Q3 2022 | Indicator | As of Current Period End (2022.09.30) (Yuan) | As of Prior Year End (2021.12.31) (Yuan) | Change (%) | | :----------------------------------- | :-------------------- | :-------------------- | :--------------- | | Total Assets | 45,495,243,163.90 | 44,908,856,477.14 | 1.31 | | Owners' Equity Attributable to Shareholders of Listed Company | 18,769,087,394.95 | 18,338,602,209.76 | 2.35 | (II) Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=(%E4%BA%8C)%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) The company's non-recurring gains and losses totaled **220,100.83 Yuan** for the current period and **12,447,318.07 Yuan** year-to-date, primarily including government subsidies, non-current asset disposal gains/losses, and other non-operating income/expenses Non-recurring Gains and Losses Items and Amounts | Item | Current Period Amount (Yuan) | Year-to-Date Amount (Yuan) | | :------------------------------------------------------------------------------------------------------- | :---------------- | :---------------------- | | Gains/Losses on Disposal of Non-current Assets | 9,062.21 | -1,281,021.51 | | Government Subsidies Included in Current P&L (Excluding those closely related to normal operations, compliant with national policies, and continuously enjoyed at fixed/quantitative standards) | 1,342,881.10 | 17,287,000.81 | | Other Non-operating Income and Expenses Apart from the Above | -1,347,020.46 | 877,955.80 | | Less: Income Tax Impact | -181,969.10 | 4,352,461.20 | | Minority Interests Impact (After Tax) | -33,208.88 | 84,155.83 | | Total | 220,100.83 | 12,447,318.07 | (III) Changes and Reasons for Key Accounting Data and Financial Indicators](index=2&type=section&id=(%E4%B8%89)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E3%80%81%E5%8E%9F%E5%9B%A0) The company's operating revenue increased by **52.40%** year-on-year for the year-to-date period, mainly due to increased power equipment and securities basis businesses, while net cash flow from operating activities decreased by **33.47%** year-on-year, primarily due to lower securities brokerage volume - Operating revenue increased by **52.40%** year-on-year, primarily due to increased power equipment business and securities basis business in the current period[7](index=7&type=chunk) - Net cash flow from operating activities decreased by **33.47%** year-on-year, mainly due to lower securities brokerage volume in the current period[7](index=7&type=chunk) II. Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) (I) Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings](index=3&type=section&id=(%E4%B8%80)%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had **78,682** common shareholders, with State Grid Yingda International Holdings Group Co., Ltd. being the largest shareholder with **65.53%** of shares, all of which are restricted shares, and multiple state-owned corporate shareholders with related party relationships among the top ten - The total number of common shareholders at the end of the reporting period was **78,682**[9](index=9&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding (%) | Number of Restricted Shares Held | | :----------------------------------- | :-------------------- | :-------------------- | :--------------- | :--------------------- | | State Grid Yingda International Holdings Group Co., Ltd. | State-owned Legal Person | 3,747,456,382 | 65.53 | 3,747,456,382 | | State Grid Electric Power Research Institute Co., Ltd. | State-owned Legal Person | 428,138,981 | 7.49 | 0 | | Shanghai Zhixin (Group) Co., Ltd. | Domestic Non-state-owned Legal Person | 207,857,842 | 3.63 | 0 | - State Grid Corporation of China has related party relationships through equity control over State Grid Yingda International Holdings Group Co., Ltd., State Grid Electric Power Research Institute Co., Ltd., and State Grid Xinyuan Holdings Co., Ltd[9](index=9&type=chunk) III. Other Reminders](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) The company has no other significant operating information requiring investor attention during the reporting period - The company's operating situation during the reporting period has no other important information requiring investor attention[10](index=10&type=chunk) IV. Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) (I) Type of Audit Opinion](index=5&type=section&id=(%E4%B8%80)%E5%AE%A1%E8%AE%A1%E6%84%8F%E8%A7%81%E7%B1%BB%E5%9E%8B) The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[11](index=11&type=chunk) (II) Financial Statements](index=5&type=section&id=(%E4%BA%8C)%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated balance sheet as of Q3 2022, and consolidated income statement and cash flow statement for the year-to-date period, detailing its financial position, operating results, and cash flows Consolidated Balance Sheet](index=5&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2022, the company's total assets increased by **1.31%** from the end of the previous year, with significant increases in trading financial assets and non-current assets due within one year, and decreases in accounts receivable, funds lent, and financial assets purchased under resale agreements, while current liabilities saw a substantial increase in financial assets sold under repurchase agreements and a significant decrease in funds borrowed Consolidated Balance Sheet Key Item Changes (2022.09.30 vs 2021.12.31) | Item | September 30, 2022 (Yuan) | December 31, 2021 (Yuan) | Change Amount (Yuan) | Change (%) | | :----------------------------------- | :-------------------- | :-------------------- | :------------ | :----------- | | Cash and Bank Balances | 7,289,409,838.52 | 7,347,489,517.64 | -58,079,679.12 | -0.79 | | Trading Financial Assets | 13,262,091,205.91 | 11,670,883,306.41 | 1,591,207,899.50 | 13.63 | | Accounts Receivable | 3,934,807,507.90 | 4,325,711,226.72 | -390,903,718.82 | -9.04 | | Inventories | 1,695,016,470.06 | 1,044,402,766.10 | 650,613,703.96 | 62.30 | | Non-current Assets Due Within One Year | 2,111,345,905.74 | 573,327,160.38 | 1,538,018,745.36 | 268.26 | | Other Debt Investments | 7,776,206,633.14 | 9,070,644,875.01 | -1,294,438,241.87 | -14.27 | | Short-term Borrowings | 2,448,062,455.22 | 2,693,681,322.37 | -245,618,867.15 | -9.12 | | Funds Borrowed | 501,840,277.78 | 1,502,312,750.03 | -1,000,472,472.25 | -66.60 | | Financial Assets Sold Under Repurchase Agreements | 7,068,902,476.22 | 5,178,815,591.15 | 1,890,086,885.07 | 36.49 | | Client Funds for Securities Trading | 6,477,113,624.83 | 7,229,243,059.50 | -752,129,434.67 | -10.40 | | Total Liabilities | 23,492,947,572.48 | 23,525,679,387.98 | -32,731,815.50 | -0.14 | | Total Owners' Equity | 22,002,295,591.42 | 21,383,177,089.16 | 619,118,502.26 | 2.90 | Consolidated Income Statement](index=7&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) As of September 30, 2022, the company's total operating revenue increased by **27.95%** and operating revenue by **52.40%** year-on-year for the year-to-date period, however, net profit attributable to parent company shareholders decreased by **16.13%** to **0.144 Yuan/share** in basic earnings per share, impacted by investment income, fair value changes, and credit impairment losses Consolidated Income Statement Key Item Changes (YTD 2022 vs YTD 2021) | Item | Q1-Q3 2022 (Yuan) | Q1-Q3 2021 (Yuan) | Change Amount (Yuan) | Change (%) | | :------------------------------------------------------------------------------------------------------- | :-------------------- | :-------------------- | :------------ | :----------- | | Total Operating Revenue | 7,219,432,963.53 | 5,642,526,017.90 | 1,576,906,945.63 | 27.95 | | Operating Revenue | 4,387,629,886.08 | 2,878,996,019.76 | 1,508,633,866.32 | 52.40 | | Interest Income | 591,845,283.79 | 660,176,589.79 | -68,331,306.00 | -10.35 | | Fee and Commission Income | 2,239,957,793.66 | 2,103,353,408.35 | 136,604,385.31 | 6.49 | | Total Operating Costs | 5,353,375,429.68 | 3,967,780,149.36 | 1,385,595,280.32 | 34.92 | | Investment Income (Losses Indicated by "-") | 124,222,468.82 | 427,279,030.64 | -303,056,561.82 | -70.93 | | Gains/Losses from Changes in Fair Value (Losses Indicated by "-") | -551,055,704.19 | -443,080,475.07 | -107,975,229.12 | 24.37 | | Credit Impairment Losses (Losses Indicated by "-") | 1,814,391.80 | -25,432,724.13 | 27,247,115.93 | -107.13 | | Operating Profit | 1,462,188,242.72 | 1,649,668,274.02 | -187,480,031.30 | -11.36 | | Net Profit | 1,106,232,492.63 | 1,266,993,741.38 | -160,761,248.75 | -12.69 | | Net Profit Attributable to Parent Company Shareholders | 822,994,893.33 | 981,243,837.13 | -158,248,943.80 | -16.13 | | Basic Earnings Per Share (Yuan/share) | 0.144 | 0.172 | -0.028 | -16.28 | Consolidated Cash Flow Statement](index=10&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) As of September 30, 2022, net cash flow from operating activities decreased by **33.47%** year-on-year, mainly due to lower securities brokerage volume, while net cash outflow from financing activities replaced last year's net inflow, leading to a negative net increase in cash and cash equivalents Consolidated Cash Flow Statement Key Item Changes (YTD 2022 vs YTD 2021) | Item | Q1-Q3 2022 (Yuan) | Q1-Q3 2021 (Yuan) | Change Amount (Yuan) | Change (%) | | :----------------------------------- | :-------------------- | :-------------------- | :------------ | :----------- | | Net Cash Flow from Operating Activities | 586,959,925.23 | 882,228,602.57 | -295,268,677.34 | -33.47 | | Net Cash Flow from Investing Activities | -43,158,199.43 | -161,003,067.58 | 117,844,868.15 | -73.10 | | Net Cash Flow from Financing Activities | -865,576,744.97 | 834,125,089.73 | -1,699,701,834.70 | -203.77 | | Net Increase in Cash and Cash Equivalents | -311,297,423.50 | 1,554,523,747.40 | -1,865,821,170.90 | -120.02 | | Cash and Cash Equivalents at Period End | 8,141,065,862.45 | 8,026,338,984.50 | 114,726,877.95 | 1.43 | - The decrease in net cash flow from operating activities was mainly due to lower securities brokerage volume[7](index=7&type=chunk) - Net cash flow from financing activities shifted from a net inflow in the same period last year to a net outflow, primarily due to a significant decrease in cash received from borrowings and bond issuance, while cash paid for debt repayment remained high[22](index=22&type=chunk)

Financial Performance - Total operating revenue for the first half of 2022 reached ¥4,406,583,161.42, an increase of 21.57% compared to ¥3,624,784,194.29 in the same period last year[17]. - Operating income was ¥2,511,103,894.01, reflecting a growth of 37.63% from ¥1,824,551,674.46 year-on-year[17]. - Net profit attributable to shareholders of the listed company was ¥620,770,506.35, a decrease of 3.76% from ¥644,990,871.78 in the previous year[17]. - Net profit after deducting non-recurring gains and losses was ¥608,543,289.11, down 4.54% from ¥637,466,600.93 year-on-year[17]. - Basic earnings per share for the reporting period (January to June) was CNY 0.109, a decrease of 3.54% compared to the same period last year[18]. - Diluted earnings per share for the reporting period was also CNY 0.109, reflecting a 3.54% decline year-over-year[18]. - The weighted average return on equity decreased by 0.32 percentage points to 3.33% compared to the previous year[18]. - Net profit for the first half of 2022 was CNY 5.812 billion, a year-on-year decrease of 4.59%[22]. Cash Flow and Assets - The net cash flow from operating activities was ¥1,039,017,424.42, a significant improvement from a negative cash flow of ¥381,721,713.84 in the same period last year[17]. - Net assets attributable to shareholders of the listed company increased to ¥18,535,168,433.93, up 1.07% from ¥18,338,602,209.76 at the end of the previous year[17]. - Total assets reached ¥45,334,114,128.09, reflecting a 0.95% increase from ¥44,908,856,477.14 at the end of the previous year[17]. - The company's cash and cash equivalents stood at ¥7,405,331,373.28, accounting for 16.34% of total assets[46]. - The company's total current assets as of the end of the reporting period amount to 33,962,909,474.87 RMB, an increase from 32,559,272,975.15 RMB at the beginning of the period[108]. Revenue Sources - Interest income decreased by 6.36% to ¥400,457,426.99 from ¥427,636,709.74 in the previous year[17]. - Commission and fee income increased by 8.92% to ¥1,495,021,840.42 compared to ¥1,372,595,810.09 in the same period last year[17]. - The company reported a total revenue of CNY 4.92 billion from its futures business, representing a year-on-year growth of 342.67%, with net profit reaching CNY 16 million, an increase of 96.15%[29]. - The company reported a total comprehensive income of CNY 759,676,757.25, down from CNY 908,350,594.55 in the previous year, a decrease of 16.4%[116]. Industry Trends and Challenges - The trust industry faced significant transformation pressures, with total trust assets decreasing by CNY 0.22 trillion year-over-year, a decline of 1.06%[21]. - The securities industry reported a revenue decline of 11.40% year-over-year, totaling CNY 205.92 billion[21]. - The net profit for the securities industry fell by 29.50% year-over-year, amounting to CNY 81.195 billion[21]. - The company faces operational risks due to global economic challenges, including inflation and geopolitical tensions, which may impact profitability in its power equipment sector[54]. Investments and Future Plans - The company plans to invest over CNY 500 billion in the power grid in 2022, expected to drive social investment exceeding CNY 1 trillion[24]. - The company aims for over 80% of new energy-efficient transformers to be adopted by 2025, in line with national energy efficiency improvement plans[24]. - The company is focusing on transforming its business model to adapt to regulatory changes and market conditions, emphasizing standardized investment and core business services[21]. Governance and Compliance - The company has undergone a board restructuring, with the election of a new board of directors and supervisory board on May 17, 2022[62]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[65]. - The company has committed to minimizing related party transactions with the listed company and ensure that unavoidable transactions are conducted at market prices[75]. - The company has a history of timely and strict adherence to its commitments, with no noted failures in compliance[73]. Research and Development - R&D expenses increased by 49.06% to ¥75,570,344.99, reflecting higher investment in research and development[43][44]. - The company applied for 44 invention patents and received 39 new authorized invention patents during the reporting period, showcasing its commitment to technological innovation[33]. Environmental and Social Responsibility - The company has implemented various carbon management measures, including the issuance of green asset-backed commercial papers to fund 13 green energy projects[67]. - The company is actively involved in rural revitalization efforts, including the promotion of new products in various provinces to support agricultural smart energy projects[69]. Financial Instruments and Accounting Policies - The company recognizes interest income using the effective interest method, with specific treatments for impaired financial assets[149]. - The company confirms joint operation assets and liabilities based on its share, recognizing income from the sale of joint operation outputs[145]. - The company assesses credit risk of financial instruments using a "three-stage" impairment model based on expected credit losses[150].

Financial Performance - The total revenue for the year 2021 reached CNY 9.485 billion, representing a year-on-year growth of 17.22%[3] - The net profit attributable to shareholders was CNY 1.224 billion, with a year-on-year increase of 4.07%[3] - Basic earnings per share (EPS) was CNY 0.214, reflecting a growth of 0.94% compared to the previous year[3] - The revenue from Yingda Trust was CNY 2.252 billion, up 24.92% year-on-year, while its net profit decreased by 0.43% to CNY 1.232 billion[3] - Yingda Securities achieved a revenue of CNY 1.494 billion, marking a 21.59% increase, and a net profit of CNY 411 million, which is a 28.56% increase[3] - Total operating income for 2021 reached ¥9,485,273,791.55, an increase of 17.22% compared to ¥8,091,587,654.49 in 2020[21] - Net profit attributable to shareholders was ¥1,223,922,770.27, reflecting a growth of 4.07% from ¥1,176,009,762.34 in the previous year[21] - The company reported a total operating income of 3.843 billion RMB in Q4 2021, with a quarterly net profit of 243 million RMB[24] - The company achieved a total operating revenue of 9.485 billion RMB in 2021, representing a year-on-year growth of 17.22%[30] - The net profit attributable to shareholders of the listed company was 1.224 billion RMB, an increase of 4.07% compared to the previous year[30] Cash Flow and Assets - The net cash flow from operating activities for 2021 was ¥761,481,737.72, a significant recovery from a negative cash flow of ¥195,512,120.34 in 2020[21] - The company’s total assets increased by 13.18% to ¥44,908,856,477.14 at the end of 2021, up from ¥39,679,969,181.69 at the end of 2020[21] - The company’s net assets attributable to shareholders increased by 6.19% to ¥18,338,602,209.76 at the end of 2021, compared to ¥17,269,918,410.89 at the end of 2020[21] - The company’s cash and cash equivalents at the end of the reporting period amounted to CNY 1.28 billion, a 38.29% increase from the previous period[85] - The company’s total assets at the end of the reporting period were CNY 72.29 billion, with a net asset increase of 19.07% year-on-year[88] Business Strategy and Development - The company plans to distribute a cash dividend of CNY 0.66 per 10 shares, totaling CNY 377.42 million, with a cash dividend payout ratio of 30.8%[7] - The company aims to enhance its capabilities in green finance and carbon asset management, with a new green trust business scale exceeding CNY 7 billion[4] - The company is committed to maintaining a dual main business model of "finance + manufacturing" to drive sustainable growth[5] - The company has established a comprehensive risk management system to mitigate financial risks and enhance operational efficiency[4] - The company is actively expanding its carbon asset management services, having developed 8 methodologies for carbon reduction and providing comprehensive carbon management services[61] - The company plans to continue expanding its market presence and developing new technologies to enhance its competitive edge[65] - The company aims to achieve a total revenue of 10 billion yuan and a profit of 2.3 billion yuan in 2022[107] - The company plans to accelerate the development of green finance products and services, focusing on clean energy projects and carbon asset management[107] Research and Development - Research and development expenses increased by 44.02% to 132.74 million RMB, reflecting the company's commitment to innovation[64] - The total R&D investment amounted to ¥231,901,892.19, representing 4.06% of operating revenue[80] - The company is investing heavily in R&D, with a budget allocation of 10 million for new technology development in the upcoming year[128] - The company has increased its R&D efforts on products such as amorphous closed-loop three-dimensional distribution transformers and all-vanadium flow batteries, positively impacting innovation and market competitiveness[82] Environmental and Social Responsibility - The total carbon emissions for the year 2021 were 16,353 tons, a reduction of 3,117 tons or 16% compared to the previous year[158] - The company has achieved carbon neutrality for two consecutive years by purchasing CCER credits[158] - The company has established a charity trust with a fundraising target of 1 million yuan to support local education and infrastructure in rural areas[161] - The company emphasizes green office practices and has adopted a "paperless" approach to reduce energy consumption[159] - The company is actively promoting the development of a green supply chain to enhance resource utilization efficiency across the industry[159] Governance and Compliance - The company received an "A" grade for its information disclosure practices from the Shanghai Stock Exchange for the 2020 to 2021 period, reflecting its commitment to transparency[119] - The company revised 13 governance rules, enhancing its internal management and compliance systems during the reporting period[120] - The company held 3 shareholder meetings during the reporting period, ensuring compliance with legal regulations and providing equal rights to all shareholders, especially minority shareholders[115] - The company has maintained a transparent and compliant decision-making process regarding profit distribution, ensuring the protection of minority shareholders' rights[148] Market and Competitive Position - The company’s financial subsidiaries, including Yingda Trust and Yingda Securities, contributed to the overall financial service offerings for the energy industry[30] - The company launched a series of green financial products, including the first "carbon neutral" asset-backed commercial paper[30] - The company’s manufacturing subsidiary, Zhixin Electric, made significant advancements in high-end, intelligent, and green equipment manufacturing[30] - The company is focusing on sustainability initiatives, with a commitment to reduce carbon emissions by 30% by 2025[128] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[129]

Financial Performance - Total operating revenue for Q3 2021 was ¥2,017,741,823.61, a decrease of 8.44% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was ¥336,252,965.35, down 13.02% year-on-year[4] - Basic earnings per share for Q3 2021 was ¥0.059, a decrease of 13.24% compared to the same period last year[5] - The total operating revenue for the first three quarters of 2021 reached CNY 5,642,526,017.90, an increase of 14.4% compared to CNY 4,931,523,277.76 in the same period of 2020[14] - Net profit for the period was ¥1,266,993,741.38, compared to ¥1,233,980,978.80, reflecting a growth of approximately 2.7%[15] - Total comprehensive income reached ¥1,388,412,752.55, up from ¥1,151,156,081.09, indicating an increase of about 20.6%[17] Assets and Liabilities - Total assets at the end of Q3 2021 reached ¥45,154,954,333.37, an increase of 13.80% from the end of the previous year[5] - The total assets of the company increased to CNY 45,154,954,333.37, compared to CNY 39,679,969,181.69 at the end of 2020, representing a growth of 13.7%[12] - The total liabilities rose to CNY 24,077,497,507.94, an increase from CNY 19,636,382,092.68, indicating a growth of 22.4%[13] - Total liabilities amounted to ¥19,636,382,092.68, a decrease from ¥19,980,923,609.19, reflecting a reduction of ¥344,541,516.51[23] - Current liabilities were reported at ¥18,214,786,170.60, slightly lower than ¥18,258,173,700.64, with a difference of ¥43,387,530.04[23] Cash Flow - The company reported a net cash flow from operating activities of ¥882,228,602.57 for the year-to-date period[4] - Cash flow from operating activities generated ¥882,228,602.57, a significant improvement from a negative cash flow of -¥592,932,464.27 in the previous year[18] - The net cash flow from investing activities was -161,003,067.58 RMB, compared to -570,145,122.04 RMB in the previous period, indicating an improvement[19] - The net cash flow from financing activities was 834,125,089.73 RMB, a decrease from 1,859,458,467.41 RMB in the previous period[19] Income Sources - Interest income for Q3 2021 was ¥232,539,880.05, an increase of 7.96% compared to the same period last year[4] - Commission and fee income for Q3 2021 was ¥730,757,598.26, up 18.91% year-on-year[4] - The interest income for the first three quarters of 2021 was CNY 660,176,589.79, up from CNY 570,511,171.27 in the same period of 2020, representing a growth of 15.7%[14] - Commission and fee income increased to ¥2,103,353,408.35 from ¥1,686,818,401.63, representing a growth of approximately 24.6%[15] - The company reported a net investment income of ¥427,279,030.64, down from ¥465,171,847.89, a decrease of approximately 8.1%[15] Equity and Retained Earnings - The total equity attributable to shareholders at the end of Q3 2021 was ¥18,016,503,510.28, an increase of 4.32% from the end of the previous year[5] - The company reported a total equity of ¥20,043,587,089.01, consistent with previous reports[25] - The company's retained earnings increased to CNY 5,559,564,610.73 from CNY 4,932,863,789.73, reflecting a growth of 12.7%[13] - The company’s retained earnings stand at ¥4,932,863,789.73, reflecting stable profit retention[25] Expenses - Total operating costs rose to ¥3,967,780,149.36 from ¥3,631,809,025.52, an increase of about 9.3%[15] - Research and development expenses increased to ¥75,617,904.48 from ¥55,245,105.14, marking a rise of approximately 37%[15] Cash and Cash Equivalents - The company's cash and cash equivalents amounted to CNY 6,838,707,086.30 as of September 30, 2021, up from CNY 5,723,881,785.78 a year earlier, reflecting a growth of 19.5%[11] - The cash and cash equivalents at the end of the period totaled 8,026,338,984.50 RMB, compared to 6,380,743,080.01 RMB at the end of the previous period[19] - The company holds cash and cash equivalents of ¥1,200,100,000.00, indicating strong liquidity[23] Changes in Accounting Standards - The company has implemented new leasing standards starting from 2021, which may impact future financial reporting[20] - The company has implemented new leasing standards effective January 1, 2021, impacting financial reporting significantly[26]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching 1.2 billion RMB, representing a 15% year-over-year growth[10]. - Net profit for the first half of 2021 was 300 million RMB, an increase of 20% compared to the same period last year[10]. - Total operating revenue for the first half of 2021 reached ¥3,624,784,194.29, a 32.89% increase compared to ¥2,727,716,119.03 in the same period last year[17]. - Net profit attributable to shareholders was ¥644,990,871.78, reflecting a 13.31% increase from ¥569,237,714.16 year-on-year[17]. - Basic earnings per share increased to ¥0.113, up 6.60% from ¥0.106 in the previous year[18]. - The company achieved a total operating revenue of 3.625 billion RMB, representing a year-on-year growth of 32.89%[38]. - The net profit attributable to shareholders reached 645 million RMB, with a year-on-year increase of 13.31%[38]. - The company reported a total comprehensive income of CNY 908,350,594.55, up from CNY 727,699,508.40 in the first half of 2020, representing a growth of 25%[129]. Market Expansion and Strategy - The company has expanded its user base by 10%, now serving over 5 million customers[10]. - Future outlook indicates a projected revenue growth of 12% for the second half of 2021, driven by new product launches and market expansion strategies[10]. - Market expansion efforts include entering two new provinces, which are expected to contribute an additional 100 million RMB in revenue[10]. - The company has no plans for major acquisitions in the near term, focusing instead on organic growth strategies[10]. - The company plans to leverage government policies to expand its green finance business, including green asset securitization and green bonds[41]. - The company aims to enhance its market competitiveness and operational performance through the development of green financial products[41]. Research and Development - The company is investing 200 million RMB in research and development for new technologies, focusing on smart grid solutions[10]. - Research and development expenses surged by 93.78% to ¥50,697,167.63, reflecting increased investment in R&D as business activities expanded[43]. - Research and development expenses increased to CNY 50,697,167.63, up from CNY 26,162,537.77, indicating a growth of 94%[128]. Sustainability and Corporate Responsibility - The management highlighted a commitment to sustainability, with plans to reduce carbon emissions by 25% by 2025[10]. - The company established a carbon asset management platform, enhancing its competitive advantage in carbon asset management[38]. - The company reported a total carbon emission of 19,470 tons of CO2 for the year 2020, achieving carbon neutrality for that year through the cancellation of an equivalent amount of China Certified Emission Reduction (CCER) credits[68]. - During the reporting period, the company organized the purchase of poverty alleviation products worth over 370,000 yuan from impoverished counties to support local farmers and businesses[69]. Financial Position and Liquidity - The company has maintained a strong liquidity position, with cash reserves of 500 million RMB as of the end of June 2021[10]. - The total assets grew by 9.27% to ¥43,358,606,379.20 from ¥39,679,969,181.69 at the end of the previous year[17]. - The company's total liabilities increased by 30.29% to ¥1,229,643,006.97, indicating a rise in financial obligations[46]. - The total current assets as of June 30, 2021, amounted to RMB 30.257 billion, an increase from RMB 27.273 billion at the end of the previous year[122]. - Cash and cash equivalents amounted to CNY 152.23 million, significantly up from CNY 77.74 million, representing an increase of approximately 95.4%[125]. Risk Management - No significant risks were identified that could impact the company's operations in the foreseeable future[10]. - The company implemented a comprehensive risk management system, achieving substantial results in risk prevention[39]. - The company plans to continuously optimize its business structure and strictly control operational risks in response to the complex economic environment and regulatory challenges[54]. Related Party Transactions and Governance - The company guarantees that senior management of the listed company will not hold any administrative positions or receive salaries from the company or its controlled entities[77]. - The company commits to maintaining the financial independence of the listed company, including independent financial decision-making and separate bank accounts[77]. - The company will minimize related party transactions and ensure that unavoidable transactions are conducted at market prices and do not harm the interests of the listed company or its minority shareholders[75]. - The company has adhered to all commitments regarding the independence of the listed company since the last restructuring on October 17, 2019[76]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 78,822[110]. - The largest shareholder, State Grid Yingda International Holdings Group Co., Ltd., held 3,747,456,382 shares, representing 65.53% of the total[111]. - A total of 136,621,756 restricted shares were released during the reporting period, with no new restricted shares added[109]. Accounting and Financial Reporting - The company’s financial statements are prepared based on the assumption of going concern, with no significant issues affecting its ability to continue operations for at least 12 months[150]. - The company’s accounting policies comply with the latest enterprise accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status and operating results[152]. - The company recognizes expected credit losses for debt investments using a general model, ensuring accurate financial reporting[175]. Operational Performance - Operating costs rose to ¥1,542,540,573.61, marking a 31.90% increase year-over-year, primarily due to the growth in power operation and maintenance services[44]. - The company reported a total cost of operations of CNY 2,496,178,181.94, which is a 25% increase from CNY 1,999,635,054.82 in the first half of 2020[128]. - The company has maintained a 100% loan repayment and interest payment rate[121].

Financial Performance - The company achieved a net profit of ¥598,595,377.87 for the year 2020, with a distributable profit of ¥667,121,330.07 by the end of the year[5]. - A cash dividend of ¥0.62 per 10 shares (including tax) is proposed, totaling ¥354,543,016.13, which accounts for 30.1% of the net profit attributable to shareholders[5]. - The company plans to retain a remaining undistributed profit of ¥312,578,313.94 after the dividend distribution[5]. - Total revenue for 2020 was CNY 8,091,587,654.49, an increase of 6.42% compared to 2019[19]. - Operating income decreased by 2.66% to CNY 5,044,251,356.25 in 2020[19]. - Net profit attributable to shareholders was CNY 1,176,009,762.34, representing a 23.43% increase year-on-year[19]. - The company reported a net cash flow from operating activities of CNY -195,512,120.34, a decrease of 112.45% compared to the previous year[19]. - The total assets at the end of 2020 were CNY 39,679,969,181.69, up 19.78% from 2019[19]. - The net assets attributable to shareholders increased by 23.46% to CNY 17,269,918,410.89[19]. - Basic earnings per share for 2020 were CNY 0.21, a 16.67% increase from 2019[20]. Risk Management - The company does not foresee any significant risks in its operations, with identified risks being operational, credit, market, and compliance risks[7]. - The company is committed to enhancing its credit risk management mechanisms and will strengthen early warning management and risk control in key areas[90]. - The company aims to continuously improve its market risk management system and will strictly implement risk limit management to keep market risks within a reasonable range[91]. - The company has strengthened its financial risk management framework, with a focus on digital risk control platforms and compliance management[49]. Corporate Governance - The audit report issued by the accounting firm is a standard unqualified opinion, ensuring the accuracy of the financial report[4]. - The company’s board of directors and senior management confirm the authenticity and completeness of the annual report[3]. - The company has established a governance structure that ensures clear responsibilities and effective checks and balances[196]. - The board of directors includes independent members who contribute to corporate governance and oversight, ensuring diverse perspectives in decision-making[176]. - The company emphasizes a compensation policy aligned with its business goals, linking pay to performance and market standards[192]. Strategic Acquisitions and Business Model - The company completed the acquisition of 73.49% of Yingda Trust and 96.67% of Yingda Securities, enhancing its operational scale and profitability[22]. - The company completed a major asset restructuring in 2020, transitioning its main business from electrical manufacturing to a dual focus on "finance + manufacturing," which includes trust, securities, futures, factoring, carbon assets, and power equipment[29]. - The company plans to expand its market presence through strategic acquisitions and partnerships[22]. - The company emphasizes the importance of collaboration and sharing insights among its team to enhance overall performance and strategic execution[177]. Social Responsibility and Sustainability - The company achieved carbon neutrality by offsetting 19,470 tons of CO2 emissions through the cancellation of equivalent Chinese Certified Emission Reductions (CCER)[154]. - The company is committed to enhancing its social responsibility and sustainable development initiatives[151]. - The company has established a green supply chain and focuses on producing energy-efficient and low-carbon products[152]. - The company plans to leverage its financial advantages to support rural revitalization efforts[150]. Shareholder Relations - The company has established a stable cash dividend policy to ensure reasonable returns for investors, particularly small and medium-sized investors[92]. - The company is actively adapting to regulatory changes to avoid compliance risks and potential penalties[91]. - The company is focused on enhancing investor relations and market value management to communicate its core value proposition effectively[86]. - The company has maintained transparency in the actual payment of remuneration, ensuring it aligns with disclosed figures[188]. Employee Engagement and Development - The total number of employees in the parent company is 22, while the main subsidiaries employ 2,950, resulting in a total of 2,972 employees[191]. - In 2020, the company conducted over 200 training sessions, with more than 5,300 participants, focusing on various professional development areas[193]. - The company has implemented a comprehensive welfare system to enhance employee engagement and cohesion[192]. - The company emphasizes the integration of social, environmental, and market performance into its sustainable development strategy[151]. Future Outlook - The company provided a positive outlook for 2021, projecting a revenue growth of 12% to 15% based on market expansion strategies[179]. - The company aims to enhance its digital transformation efforts, with a budget of 300 million yuan dedicated to upgrading its IT infrastructure[179]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[179]. - The company aims to improve operational efficiency by 10% through the implementation of advanced data analytics tools[181].