（http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2024 年 9 月 5 日(星期四)16:00 前通过邮件、电话的形式将 需要了解和关注的问题提前提供给公司。公司将以适当方式对投资者普遍关注的 问题进行回答。 株洲中车时代电气股份有限公司（以下简称"公司"）已于 2024 年 8 月 23 日发布公司 2024 年半年度报告，为便于广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况、发展理念，公司参与了由上海证券交易所主办的 2024 年半年度科创板航空航天及先进轨交集体业绩说明会，此次活动将采用网 络文字互动的方式举行，投资者可登录上海证券交易所上证路演中 心 会议召开时间：2024 年 9 月 6 日(星期五) 下午 14:00-16:00 会议召开地点：上海证券交易所上证路演中心 （http://roadshow.sseinfo.com/）参与线上互动交流。 证券代码：688187（A 股） 证券简称：时代电气（A 股） 公告编号：2024-040 证券代码： 3898（H 股） 证券简称：时代电气（H 股） 株洲中车 ...

Investment Rating - The report maintains a "Buy-A" rating for the company, indicating an expected price increase of over 15% relative to the benchmark index [5]. Core Views - The company has shown strong growth in its rail transit and semiconductor businesses, with new growth drivers emerging [5]. - The semiconductor production line is fully operational, and the company is progressing with its projects, which are expected to enhance market share and optimize product structure [5]. - The company is positioned as a benchmark central enterprise in technology innovation, with a strategic focus on cross-industry and cross-field development [5]. Company Performance Summary - For the first half of 2024, the company achieved revenue of 10.284 billion yuan, a year-on-year increase of 19.99%, and a net profit of 1.507 billion yuan, up 30.56% year-on-year [2]. - The company's net profit margin for the first half of 2024 was 15.57%, reflecting a 1.7 percentage point increase [3]. - The rail transit business revenue reached 6.139 billion yuan, a significant year-on-year increase of 30.87% [3]. Financial Data and Projections - The company forecasts net profits of 3.831 billion yuan, 4.684 billion yuan, and 5.702 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding EPS of 2.71, 3.32, and 4.04 yuan [5]. - The projected revenue for 2024 is 26.132 billion yuan, with a year-on-year growth rate of 19.9% [7]. - The company's gross margin is expected to remain stable, with projections of 33.9% for 2024 [7].

Investment Rating - The report maintains a "Buy" rating for both A-shares and H-shares of the company [1][10] Core Insights - The company's performance in the first half of 2024 reached new highs, with operating revenue of 10.28 billion yuan, a year-on-year increase of 20.0%, and a net profit attributable to shareholders of 1.51 billion yuan, up 30.6% year-on-year [2] - The rail transit equipment business and power semiconductor sectors are significant contributors to the company's growth, with the rail transit equipment revenue growing by 30.9% year-on-year [3][4] - The company is expected to benefit from the increasing demand for rail transit equipment updates and maintenance, particularly in high-level repairs for train sets [4][10] Revenue Performance - The rail transit equipment segment generated 6.14 billion yuan in revenue in H1 2024, with various product lines showing significant growth: electrical equipment (+27.3%), engineering machinery (+15.6%), communication signals (+131.5%), and other equipment (+52.2%) [3] - The emerging equipment business also saw steady growth, with revenue of 4.09 billion yuan, a 9.2% increase year-on-year, driven by power semiconductors and new energy vehicle drive systems [5][9] Market Position and Future Outlook - The company maintains a stable market share in the rail transit sector, with ongoing development in new energy locomotives and traction systems [3][4] - The demand for high-level maintenance of train sets is expected to rise, with significant increases in tender volumes for repairs compared to previous years [4][10] - The power semiconductor segment is expanding rapidly, with revenue of 1.75 billion yuan in H1 2024, reflecting a 26.6% year-on-year growth [8]

{"code":501,"datatype":"none","msg":"501 Sentinel Block Error","datasize":0,"data":null,"timestamp":1724746886982} ...

[Definitions](index=4&type=section&id=Section%201%20Definitions) This chapter primarily explains professional terms and company entity abbreviations used in the report to ensure accurate information transmission - This chapter primarily explains professional terms and company entity abbreviations used in the report to ensure accurate information transmission[15](index=15&type=chunk)[16](index=16&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's key financial performance and indicators for the first half of 2024, highlighting significant growth in revenue and net profit [Key Accounting Data and Financial Indicators](index=7&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In the first half of 2024, the company reported significant financial growth with operating revenue increasing by 19.99% to 10.284 billion yuan and net profit attributable to shareholders rising by 30.56% to 1.507 billion yuan, alongside a positive shift in operating cash flow Key Accounting Data (January-June 2024) | Key Accounting Data | Current Period (Jan-Jun) (Yuan) | Prior Period (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 10,283,733,393 | 8,570,210,633 | 19.99 | | Net Profit Attributable to Shareholders of Listed Company | 1,506,841,018 | 1,154,168,154 | 30.56 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | 1,158,683,608 | 928,692,585 | 24.77 | | Net Cash Flow from Operating Activities | 670,363,515 | -468,059,212 | Not Applicable | Key Financial Indicators (January-June 2024) | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/Share) | 1.07 | 0.81 | 32.10% | | Diluted Earnings Per Share (Yuan/Share) | 1.07 | 0.81 | 32.10% | | Weighted Average Return on Net Assets (%) | 3.93 | 3.28 | Increased by 0.65 percentage points | | R&D Investment as % of Operating Revenue (%) | 9.47 | 9.97 | Decreased by 0.50 percentage points | - The company explained the changes in key financial indicators: - **Net profit attributable to parent company increased by 30.56%**: Primarily due to the year-on-year increase in operating profit driven by revenue growth[26](index=26&type=chunk) - **Net cash flow from operating activities turned positive**: Primarily due to the year-on-year increase in cash received from sales of goods and provision of services[26](index=26&type=chunk) - **Earnings per share increased by 32.10%**: Primarily due to the year-on-year increase in net profit attributable to the parent company[26](index=26&type=chunk) Non-recurring Gains and Losses (January-June 2024) | Non-recurring Gains and Losses | Amount (Yuan) | | :--- | :--- | | Government Subsidies | 359,866,247 | | Fair Value Changes and Disposal Gains/Losses of Financial Assets/Liabilities | 56,608,780 | | Disposal Gains/Losses of Non-current Assets | 2,958,532 | | Other Non-operating Income and Expenses | 6,082,662 | | **Total** | **348,157,410** | [Management Discussion and Analysis](index=10&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's industry landscape, core business operations, technological advancements, and strategic initiatives during the reporting period [Industry and Main Business Overview](index=10&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20for%20the%20Reporting%20Period) The company, a leader in rail transit traction converter systems, pursues a concentric diversification strategy by expanding into power semiconductors and new energy sectors, benefiting from national strategic opportunities - The company's main business involves R&D, design, manufacturing, sales, and service of rail transit equipment products, forming an "device + system + complete machine" industrial structure[29](index=29&type=chunk) - The company actively expands beyond rail transit, with businesses extending to power semiconductor devices, industrial converter products (wind, solar, storage, hydrogen, mining truck electric drives, etc.), new energy vehicle electric drive systems, sensor devices, marine engineering equipment, and other fields[29](index=29&type=chunk) - National top-level strategies such as the "Outline for Building a Powerful Transportation Nation" and "Dual Carbon" targets provide important opportunities for the company's business development, especially in intelligent and green transportation equipment and new energy sectors[31](index=31&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) [Core Technologies and R&D Progress](index=12&type=section&id=II.%20Core%20Technologies%20and%20R%26D%20Progress) The company maintains its technological leadership through 13 core technologies and 3,540 patents, demonstrating significant R&D achievements in rail transit and new industries with a 13.95% increase in R&D investment in H1 2024 [R&D Achievements](index=23&type=section&id=2.%20R%26D%20Achievements%20During%20the%20Reporting%20Period) In H1 2024, the company achieved international leading technical standards in CR450 EMU systems and made breakthroughs in 4500V press-pack and 1200V SiC modules, adding 142 new patents to its total of 3,540 - **Rail Transit Industry**: Completed the development of key traction network systems for CR450 EMU, with technical indicators reaching international leading levels; completed the installation and debugging of Fuxinghao locomotive permanent magnet traction system; further expanded application scenarios for hybrid power traction systems[47](index=47&type=chunk) - **New Industries**: Breakthroughs in 4500V press-pack product cosmic ray resistance technology; completed development of 1200V automotive-grade L5 plastic-packaged SiC modules; completed development of offshore floating 20MW full-power wind power converters; achieved demonstration application of 120t hydrogen-electric hybrid mining truck electric drive system[48](index=48&type=chunk) Intellectual Property Overview (First Half 2024) | Category | New Applications This Period | New Grants This Period | Cumulative Grants | | :--- | :--- | :--- | :--- | | Invention Patents | 95 | 93 | 2,215 | | Utility Model Patents | 21 | 46 | 1,200 | | Design Patents | 2 | 3 | 125 | | **Total** | **124** | **148** | **3,924** | [R&D Investment](index=25&type=section&id=3.%20R%26D%20Investment%20Table) In H1 2024, total R&D investment increased by 13.95% to 0.974 billion yuan, with expensed R&D rising by 16.69% and capitalized R&D decreasing by 35.55%, while R&D intensity slightly declined to 9.47% of revenue R&D Investment (January-June 2024) | Item | Current Period (Yuan) | Prior Period (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Expensed R&D Investment | 944,888,068 | 809,725,754 | 16.69 | | Capitalized R&D Investment | 28,905,627 | 44,852,017 | -35.55 | | **Total R&D Investment** | **973,793,695** | **854,577,771** | **13.95** | | R&D Investment as % of Operating Revenue (%) | 9.47 | 9.97 | Decreased by 0.50 percentage points | | Capitalization Ratio of R&D Investment (%) | 2.97 | 5.25 | Decreased by 2.28 percentage points | [R&D Personnel Information](index=45&type=section&id=5.%20R%26D%20Personnel%20Information) As of the reporting period end, the company's R&D personnel increased to 3,076, comprising 37.08% of total staff, with over 43% holding master's or higher degrees and nearly 80% under 40 years old R&D Personnel Overview | Item | Current Period | Prior Period | | :--- | :--- | :--- | | R&D Personnel Count (Persons) | 3,076 | 2,775 | | R&D Personnel as % of Total Company Headcount (%) | 37.08 | 35.26 | - The R&D team's educational background is primarily bachelor's and master's degrees, totaling over **95%**. The age structure is young, with the **30-40 age group** forming the backbone, accounting for nearly **50%**[74](index=74&type=chunk)[75](index=75&type=chunk) [Analysis of Core Competitiveness](index=46&type=section&id=III.%20Analysis%20of%20Core%20Competitiveness%20During%20the%20Reporting%20Period) The company's core competitiveness stems from its leading market position in rail transit, innovation-driven technology, high-quality service, full-chain synergy, and top-tier talent, with emerging businesses also achieving significant market presence - **Market Position**: High-speed rail and locomotive traction converter products lead the domestic market; urban rail traction converter systems have held the top domestic market share for **twelve consecutive years** from 2012 to 2023[77](index=77&type=chunk) - **Breakthroughs in Emerging Businesses**: Passenger vehicle power module installations ranked among the **top two** in the industry in the first half of 2024 (market share **13.4%**); domestic winning bids for photovoltaic inverters entered the **top five** in the industry; new energy vehicle electric drive system installations ranked among the **top nine** domestically[78](index=78&type=chunk) - **Technology and Talent**: Possesses **6 national-level technology innovation platforms** and has accumulated **3,540 authorized patents**. The R&D team is led by a Chinese Academy of Engineering academician, with R&D personnel accounting for **37.08%** of the total, of whom over **43%** hold master's or doctoral degrees[80](index=80&type=chunk)[84](index=84&type=chunk) [Discussion and Analysis of Operating Conditions](index=49&type=section&id=IV.%20Discussion%20and%20Analysis%20of%20Operating%20Conditions) In H1 2024, the company achieved steady growth through its concentric diversification strategy, with rail transit maintaining market share and emerging equipment businesses expanding rapidly, though the sensor segment faced challenges - **Rail Transit Industry**: China National Railway Group's EMU tender volume exceeded last year's full-year total, and the company's market share remained stable; new orders for urban rail traction systems continued to lead the industry[88](index=88&type=chunk) - **Power Semiconductors**: Existing production lines are at full capacity, and the Yixing Phase III project is progressing steadily, expected to commence production in the **second half of 2024**. IGBT **7.5 generation chip products** achieved batch delivery, and SiC products are undergoing continuous verification[89](index=89&type=chunk) - **New Energy Passenger Vehicle Electric Drives**: The national "1+N" four major production bases layout is largely complete, with capacity steadily increasing, and approximately **40,000 units** exported overseas in partnership with Hozon and SAIC-GM-Wuling[89](index=89&type=chunk) - **Sensor Segment**: Revenue declined in the first half of 2024 due to decreased demand growth in the photovoltaic industry and a decline in the unit price of automotive sensor products[90](index=90&type=chunk) [Risk Factors](index=50&type=section&id=V.%20Risk%20Factors) The company faces various risks, including uncertainties in core technology R&D, complexities of overseas operating environments, financial risks from exchange rate fluctuations, fierce market competition in new energy vehicles and other industries, and macro-environmental risks from international trade protectionism - The main risks identified by the company include: - **Core Competitiveness Risk**: High R&D investment with uncertainties, potentially leading to R&D failure or lower-than-expected returns from new products[91](index=91&type=chunk) - **Operating Risk**: Overseas operations face political, supply chain, and increased cost risks[93](index=93&type=chunk) - **Financial Risk**: Increased international operations may lead to asset losses or increased costs due to exchange rate fluctuations[94](index=94&type=chunk) - **Industry Risk**: Fierce price competition and rapid technological iteration in the new energy vehicle component market[95](index=95&type=chunk) - **Macro-environmental Risk**: International trade protectionism may lead to increased costs and greater difficulty in securing orders[96](index=96&type=chunk) [Key Operating Conditions](index=53&type=section&id=VI.%20Key%20Operating%20Conditions%20During%20the%20Reporting%20Period) During the reporting period, the company achieved robust financial performance with operating revenue up 19.99% to 10.284 billion yuan and net profit up 30.56% to 1.507 billion yuan, driven by growth in both rail transit and emerging equipment businesses, alongside significant asset increases and a strategic capital increase for a subsidiary [Main Business Analysis](index=53&type=section&id=(I)%20Main%20Business%20Analysis) In H1 2024, the company's main business showed strong performance, with rail transit equipment revenue growing by 30.87% to 6.139 billion yuan, notably in communication signal systems, and emerging equipment revenue increasing by 9.21% to 4.094 billion yuan, despite a decline in sensor devices Revenue by Business Segment (Unit: Billion Yuan) | Revenue Segment | Current Period (Billion Yuan) | Prior Period (Billion Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | **Rail Transit Equipment Business** | **6.139** | **4.691** | **30.87** | | Of which: Rail Transit Electrical Equipment | 4.947 | 3.885 | 27.33 | | Rail Engineering Machinery | 0.557 | 0.482 | 15.57 | | Communication Signal Systems | 0.416 | 0.180 | 131.47 | | **Emerging Equipment Business** | **4.094** | **3.749** | **9.21** | | Of which: Power Semiconductor Devices | 1.747 | 1.380 | 26.63 | | Sensor Devices | 0.136 | 0.257 | -47.01 | | New Energy Vehicle Electric Drive Systems | 0.903 | 0.833 | 8.23 | | Industrial Converters | 0.903 | 0.937 | -3.58 | | Marine Engineering Equipment | 0.405 | 0.342 | 18.61 | | **Total** | **10.284** | **8.570** | **19.99** | [Analysis of Assets and Liabilities](index=55&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) As of the reporting period end, total assets grew 16% to 61.936 billion yuan, primarily driven by increases in monetary funds, accounts receivable, and construction in progress, while other payables significantly rose due to unpaid dividends Major Balance Sheet Item Changes | Item Name | End of Current Period (Yuan) | End of Prior Period (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 10,788,369,571 | 7,903,177,340 | 36.51 | | Notes Receivable | 986,313,390 | 2,376,882,219 | -58.50 | | Accounts Receivable | 12,653,604,811 | 9,635,843,983 | 31.32 | | Construction in Progress | 3,197,950,382 | 1,261,506,969 | 153.50 | | Other Payables | 2,819,948,208 | 1,145,345,758 | 146.21 | [Significant Asset and Equity Disposals](index=59&type=section&id=(V)%20Significant%20Asset%20and%20Equity%20Disposals) During the reporting period, the company completed a 4.328 billion yuan capital increase and share expansion for its controlling subsidiary CRRC Times Semiconductor, reducing its stake to 77.7771% while retaining control - Controlling subsidiary CRRC Times Semiconductor completed capital increase and share expansion, introducing strategic investors and an employee stock ownership platform, with a capital increase of **4.328 billion yuan**. The company's shareholding decreased to **77.7771%**, but it maintained its controlling position[106](index=106&type=chunk) [Corporate Governance](index=62&type=section&id=Section%204%20Corporate%20Governance) This section details significant changes in the company's board, supervisory committee, senior management, and core technical personnel, along with share repurchase activities during the reporting period [Changes in Directors, Supervisors, Senior Management, and Core Technical Personnel](index=63&type=section&id=II.%20Changes%20in%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Core%20Technical%20Personnel) During the reporting period, several changes occurred in the company's directors, supervisors, senior management, and core technical personnel, including resignations and new appointments across various key positions - Changes in Board of Directors members: - **Resignations**: Zhang Xinning (Non-executive Director), Liu Ke'an (Vice Chairman, Executive Director), Gao Feng (Independent Non-executive Director)[114](index=114&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) - **New Appointments/Elections**: Shang Jing (Vice Chairman, Executive Director), Xu Shaolong (Executive Director), Feng Xiaoyun (Independent Non-executive Director)[114](index=114&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) - Changes in Senior Management: - **Resignations**: Yan Changqi (Deputy General Manager), Liu Zehua (Deputy General Manager, CFO), Shang Jing (General Manager), Yi Weihua (Deputy General Manager), Li Peng (Deputy General Manager)[114](index=114&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) - **Appointments**: Gan Weiwei (Deputy General Manager), Sun Shan (Deputy General Manager, CFO), Xu Shaolong (General Manager)[114](index=114&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) [Repurchase, Sale or Redemption of Listed Securities of the Company](index=67&type=section&id=(IV)%20Repurchase%2C%20Sale%20or%20Redemption%20of%20Listed%20Securities%20of%20the%20Company) During the reporting period, the company repurchased a total of 4,696,800 H shares on the Hong Kong Stock Exchange in January 2024, which have since been cancelled, with a total consideration of approximately 98.56 million HKD, aiming to enhance shareholder value H-share Repurchase Details (January 2024) | Repurchase Month | Number of H-shares Repurchased | Highest Price Paid Per Share (HKD) | Lowest Price Paid Per Share (HKD) | Total Consideration (HKD) | | :--- | :--- | :--- | :--- | :--- | | January 2024 | 4,696,800 | 21.8 | 19.64 | 98,558,789.24 | [Environmental and Social Responsibility](index=69&type=section&id=Section%205%20Environmental%20and%20Social%20Responsibility) This section outlines the company's environmental protection efforts, including investments, compliance, and initiatives to reduce carbon emissions through product innovation and clean energy adoption [Environmental Information](index=69&type=section&id=I.%20Environmental%20Information) The company has established environmental protection mechanisms, investing 3.96 million yuan in environmental protection during the reporting period, ensuring compliance for key pollutant-discharging subsidiaries and actively pursuing carbon reduction through energy-saving products and clean energy initiatives - Environmental protection investment of **3.96 million yuan** during the reporting period[131](index=131&type=chunk) - Contributes to carbon reduction through R&D and production of new products, for example: - **SiC Traction System**: Implemented in Shenzhen Metro lines, with actual measured energy savings exceeding **10%**[140](index=140&type=chunk) - **Hydrogen Energy Catenary Maintenance Vehicle**: Completed online trial operation, with a single vehicle expected to reduce CO2 emissions by over **75 tons** annually[140](index=140&type=chunk) - Achieves carbon reduction through the use of clean energy and energy-saving technical upgrades: - Added **3MW** of rooftop photovoltaic capacity, with an annual power generation capacity of approximately **3 million kWh**[141](index=141&type=chunk) - Purchased over **5 million kWh** of green electricity in the first half of the year, with a full-year plan to purchase **18 million kWh**, expected to reduce emissions by approximately **10,000 tons**[142](index=142&type=chunk) - Implemented energy-saving optimization for production line equipment and smart air conditioning and lighting upgrades[141](index=141&type=chunk)[142](index=142&type=chunk) [Significant Matters](index=74&type=section&id=Section%206%20Significant%20Matters) This section covers key corporate actions and financial disclosures, including significant guarantees and the progress of raised funds utilization [Significant Guarantees Provided and Outstanding During the Reporting Period](index=109&type=section&id=(II)%20Significant%20Guarantees%20Provided%20and%20Outstanding%20During%20the%20Reporting%20Period) During the reporting period, the company had no external guarantees, only guarantees for its subsidiaries, totaling 0.262 billion yuan, with 0.226 billion yuan provided for entities with an asset-liability ratio exceeding 70% Company Guarantee Total | Item | Amount (Yuan) | | :--- | :--- | | Total Guarantees (A+B) | 262,217,410.39 | | Total Guarantees as % of Company's Net Assets (%) | 0.71 | | Debt Guarantees for Guaranteed Entities with Asset-Liability Ratio > 70% (D) | 226,075,000.00 | [Explanation of Progress in Use of Raised Funds](index=110&type=section&id=XI.%20Explanation%20of%20Progress%20in%20Use%20of%20Raised%20Funds) The net proceeds from the company's initial public offering amounted to 7.443 billion yuan, with 5.450 billion yuan cumulatively invested as of the reporting period end, representing a 73.22% investment progress, while temporarily idle funds are utilized for cash management Overall Use of Raised Funds | Item | Amount (Yuan) | | :--- | :--- | | Net Proceeds from IPO (after deducting issuance expenses) | 7,443,212,046 | | Cumulative Raised Funds Invested as of End of Reporting Period | 5,449,575,035 | | Cumulative Investment Progress as of End of Reporting Period (%) | 73.22 | - The company used temporarily idle raised funds not exceeding **3.2 billion yuan** for cash management to increase returns on the company's cash assets. As of the end of the reporting period, the cash management balance was **1.66 billion yuan**[227](index=227&type=chunk) [Share Changes and Shareholder Information](index=116&type=section&id=Section%207%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital due to repurchases and provides an overview of its shareholder structure, including major shareholders and lock-up commitments [Share Capital Changes](index=116&type=section&id=I.%20Share%20Capital%20Changes) During the reporting period, the company's total share capital decreased from 1,416,236,912 shares to 1,411,540,112 shares due to the repurchase and cancellation of 4,696,800 H shares in January 2024 - The company repurchased and cancelled **4,696,800 H shares** in January 2024, leading to a reduction in total share capital[233](index=233&type=chunk) Share Capital Change Table | Share Class | Quantity Before This Change | Change (Increase/Decrease) | Quantity After This Change | | :--- | :--- | :--- | :--- | | I. Restricted Shares | 608,966,468 | 0 | 608,966,468 | | II. Unrestricted Tradable Shares | 807,270,444 | -4,696,800 | 802,573,644 | | Of which: Overseas Listed Foreign Shares (H-shares) | 547,329,400 | -4,696,800 | 542,632,600 | | **III. Total Shares** | **1,416,236,912** | **-4,696,800** | **1,411,540,112** | [Shareholder Information](index=117&type=section&id=II.%20Shareholder%20Information) As of the reporting period end, the company had 16,516 common shareholders, with CRRC Zhuzhou Institute Co., Ltd. and HKSCC NOMINEES LIMITED as the top two largest shareholders, and the controlling shareholder extending its pre-IPO share lock-up period Top Ten Shareholders' Shareholding (As of June 30, 2024) | Shareholder Name | Shares Held at Period End | Proportion (%) | | :--- | :--- | :--- | | CRRC Zhuzhou Institute Co., Ltd. | 591,000,716 | 41.87 | | HKSCC NOMINEES LIMITED | 541,316,466 | 38.35 | | Hong Kong Securities Clearing Company Limited | 26,498,358 | 1.88 | | China Merchants Bank - Huaxia SSE STAR Market 50 ETF | 20,052,422 | 1.42 | | CRRC Zhuzhou Electric Locomotive Co., Ltd. | 10,000,000 | 0.71 | - Controlling shareholder CRRC Zhuzhou Institute pledged to voluntarily extend the lock-up period for its **589,585,699 pre-IPO shares** by **12 months**, until **September 6, 2025**[217](index=217&type=chunk)[240](index=240&type=chunk) [Preferred Shares Information](index=127&type=section&id=Section%208%20Preferred%20Shares%20Information) This section confirms the company had no preferred shares outstanding or related activities during the reporting period - During the reporting period, the company had no preferred shares information[246](index=246&type=chunk) [Bond Information](index=128&type=section&id=Section%209%20Bond%20Information) This section confirms the company had no outstanding bonds or bond-related activities during the reporting period - During the reporting period, the company had no bond information[247](index=247&type=chunk) [Financial Report](index=129&type=section&id=Section%2010%20Financial%20Report) This section presents the company's comprehensive financial statements for the first half of 2024, providing a detailed view of its financial position, performance, and cash flows [Financial Statements](index=129&type=section&id=II.%20Financial%20Statements) This chapter provides the company's unaudited consolidated and parent company financial statements for the first half of 2024, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, showing growth in total assets, revenue, and profit, with significantly improved operating cash flow Consolidated Balance Sheet Summary (June 30, 2024) | Item | End of Period Balance (Yuan) | Beginning of Period Balance (Yuan) | | :--- | :--- | :--- | | **Total Assets** | **61,936,184,997** | **53,404,847,387** | | **Total Liabilities** | **19,395,527,401** | **15,688,316,505** | | Owners' Equity Attributable to Parent Company | 39,518,775,875 | 36,865,956,579 | | **Total Owners' Equity** | **42,540,657,596** | **37,716,530,882** | Consolidated Income Statement Summary (January-June 2024) | Item | Amount for Current Period (Yuan) | Amount for Prior Period (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 10,283,733,393 | 8,570,210,633 | | Operating Profit | 1,702,661,203 | 1,211,280,886 | | Total Profit | 1,708,743,865 | 1,225,639,966 | | Net Profit | 1,601,032,565 | 1,188,316,862 | | Net Profit Attributable to Parent Company Shareholders | 1,506,841,018 | 1,154,168,154 | Consolidated Cash Flow Statement Summary (January-June 2024) | Item | Amount for Current Period (Yuan) | Amount for Prior Period (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 670,363,515 | -468,059,212 | | Net Cash Flow from Investing Activities | -3,074,478,598 | 69,930,686 | | Net Cash Flow from Financing Activities | 4,495,429,019 | 37,816,024 | | Net Increase in Cash and Cash Equivalents | 2,090,396,372 | -355,366,109 |

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 作 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 中 國 中 車 集 團 公 司 為 本 公 司 的 關 連 人 士，故 根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」），本 集 團 與 中 國 中 車 集 團 該 等 公 司 進 行 的 上 述 互 相 供 應 交 易 構成本公司的持續關連交易，並須遵守上市規則第十四A章的申報、公告及獨立股 東 批 准 規 定。本 公 司 已 於 二 零 二 二 年 六 月 十 七 日 召 開 的 股 東 週 年 大 會 上 就 該 協 議 項下擬進行之交易取得相關獨立股東批准。 為 保 障 本 公 司 獨 立 股 東 之 權 益，本 公 司 已 採 納 一 系 列 企 業 管 治 措 施，包 括 但 不 限 於 本 公 司 的 獨 立 非 執 行 董 事 按 季 度 審 閱 該 協 議 項 下 之 相 關 交 易 ...

株洲中车时代电气股份有限公司 董事会审计委员会工作细则 1 | 第一章 总则 | 3 | | --- | --- | | 第二章 人员组成 | 3 | | 第三章 职责权限 | 5 | | 第四章 决策程序 | 10 | | 第五章 议事规则 | 11 | | 第六章 附则 | 13 | 株洲中车时代电气股份有限公司 董事会审计委员会工作细则 第一章 总则 第二章 人员组成 3 第一条 为强化株洲中车时代电气股份有限公司（简称"公司"或"本公司"） 董事会决策功能，做到事前防范、专业审计，确保董事会对管理层 的有效监督，完善公司治理结构，根据《中华人民共和国公司法》、 《上市公司治理准则》、《上市公司独立董事管理办法》、《上海证券 交易所科创板上市公司自律监管指引第 1 号——规范运作》、《上海 证券交易所科创板股票上市规则》、《香港联合交易所有限公司证券 上市规则》(简称"《联交所上市规则》")（前述上市规则以下统称 "上市地上市规则"）等法律、行政法规、规范性文件以及《株洲 中车时代电气股份有限公司章程》（简称"《公司章程》"）的有关规 定，公司董事会特设立董事会审计委员会，并制定本细则。 第二条 董事会 ...

中车财务公司是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）批准成立的非银行金融机构，成立于 2012 年 11 月。中车财务公司统一社会 信用代码为 911100000573064301，注册资本为人民币 320,000 万元。中车财务 公司现持有中国银行保险监督管理委员会核发的《金融许可证》，机构编码为 L0166H211000001。 中车财务公司经营范围包括：许可项目：企业集团财务公司服务。（依法须 经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门 批准文件或许可证件为准）（不得从事国家和本市产业政策禁止和限制类项目的 经营活动）。 截至本风险持续评估报告出具之日，中国中车集团有限公司直接持有中车财 务公司 8.64%股权，对应出资金额人民币 27,648 万元；中国中车股份有限公司直 接持有中车财务公司 91.36%股权，对应出资金额人民币 292,352 万元。 二、中车财务公司内部控制的基本情况 （一）控制环境 中车财务公司已根据《中华人民共和国公司法》《企业集团财务公司管理办 法》及其《公司章程》的有关规定，建立了股东会、董事会、监事会三权分立的 现代企业法人 ...

证券代码：688187（A 股） 证券简称：时代电气（A 股） 公告编号：2024-037 证券代码：3898（H 股） 证券简称：时代电气（H 股） 株洲中车时代电气股份有限公司 关于自愿披露控股子公司对外投资中低压 功率组件产能建设(宜兴)项目的公告 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。 重要内容提示： 投资标的名称及金额:中低压功率组件产能建设(宜兴)项目,投资总额约 人民币 94,600 万元 投资主体：宜兴中车时代半导体有限公司（以下简称"宜兴时代半导体"）， 系株洲中车时代电气股份有限公司（以下简称"公司"或"时代电气"）之控股 子公司株洲中车时代半导体有限公司（以下简称"中车时代半导体"）之全资子 公司 资金来源:自有及自筹资金 项目建设周期:24 个月 相关风险提示 1.项目投资资金来源为宜兴时代半导体自有及自筹资金，虽然宜兴时代半导 体具有一定的资金实力，且银行信用良好，但项目投资、建设过程中的资金筹措、 信贷政策的变化可能导致项目存在资金筹措到位不及时的风险，进而影响项目建 设进度； 2.项目 ...

株洲中车时代电气股份有限公司(以下简称"时代电气"、"本公司"或"公司")根 据中国证券监督管理委员会(以下简称"证监会")《上市公司监管指引第2号——上市 公司募集资金管理和使用的监管要求》及《上海证券交易所科创板上市公司自律监 管指引第1号——规范运作》的规定，编制了2024年半年度募集资金存放与实际使 用情况的专项报告。现将2024年半年度募集资金存放与实际使用情况专项报告如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到位时间 证券代码：688187（A 股） 证券简称：时代电气（A 股） 公告编号：2024-033 证券代码：3898（H 股） 证券简称：时代电气（H 股） 株洲中车时代电气股份有限公司 2024 年半年度募集资金存放与实际使用情况 的专项报告 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。 经中国证券监督管理委员会《关于同意株洲中车时代电气股份有限公司首次公 开发行股票注册的批复》（证监许可[2021]2112 号）核准，公司首次公开发行人民 1 币普通股（A 股）240,760,27 ...