CRRC(01766)2023-10-27 11:37Financial Performance - Operating revenue for Q3 2023 was RMB 55,732,259 thousand, an increase of 2.70% compared to the same period last year[3] - Net profit attributable to shareholders was RMB 2,691,225 thousand, a decrease of 7.09% year-on-year[3] - The basic earnings per share for the quarter was RMB 0.09, down 10.00% from the previous year[3] - The total operating revenue for the first nine months of 2023 was RMB 143.0 billion, an increase of 5.51% compared to the same period last year[8] - Net profit attributable to shareholders of the parent company was RMB 6.15 billion, up 2.1% from RMB 6.03 billion in the previous year[24] - Total comprehensive income for the first three quarters was RMB 8.09 billion, slightly down from RMB 8.15 billion in the previous year[25] Assets and Liabilities - Total assets at the end of the reporting period were RMB 476,716,004 thousand, an increase of 7.82% from the end of the previous year[3] - The total liabilities of the company reached RMB 283.93 billion as of September 30, 2023, compared to RMB 251.15 billion at the end of 2022, marking an increase of approximately 13.1%[23] - The company's equity attributable to shareholders amounted to RMB 155.64 billion, slightly up from RMB 155.04 billion, reflecting a growth of about 0.4%[23] - As of September 30, 2023, the total assets of the company amounted to RMB 476.72 billion, an increase from RMB 442.14 billion as of December 31, 2022, representing a growth of approximately 7.8%[22] - The company's current assets totaled RMB 320.03 billion as of September 30, 2023, compared to RMB 290.46 billion at the end of 2022, reflecting an increase of about 10.2%[21] Cash Flow - Cash flow from operating activities showed a net outflow of RMB 3,992,206 thousand, compared to a net inflow of RMB 9,860,000 thousand in the same period last year[6] - Cash and cash equivalents decreased to RMB 44.06 billion from RMB 54.86 billion, a decline of approximately 19.5%[21] - The company reported a total investment cash outflow of RMB 25.07 billion, compared to RMB 33.56 billion in the same period of 2022[27] - Cash inflow from financing activities totaled RMB 41.98 billion, an increase from RMB 35.65 billion in the previous year[27] - The company paid RMB 32.76 billion in cash for debt repayment, up from RMB 28.21 billion in the same period last year[28] Revenue Breakdown - The railway equipment business accounted for 36.70% of total operating revenue, with new industries contributing 39.10%[7] - Railway equipment business revenue increased by 12.41% year-on-year, totaling RMB 52.5 billion, driven by increased sales of high-speed trains and locomotives[8] - Urban rail and infrastructure business revenue decreased by 12.92% year-on-year, primarily due to reduced income from urban rail subway vehicles[9] - New industry business revenue increased by 14.77% year-on-year, reaching RMB 55.9 billion, mainly from sales of energy storage equipment and general components[9] - Modern services business revenue decreased by 18.96% year-on-year, totaling RMB 4.5 billion, mainly due to declines in logistics and leasing services[9] Shareholder Information - The largest shareholder, China CNR Corporation Limited, holds 50.73% of the shares, totaling approximately 14.56 billion shares[11] - HKSCC Nominees Limited, the second-largest shareholder, holds 15.19% of the shares, totaling approximately 4.36 billion shares[11] - The total number of common shareholders at the end of the reporting period was 588,089[10] - The company’s A-share shareholders numbered 585,929, while H-share shareholders totaled 2,160[15] Inventory and Receivables - Inventory increased by approximately 40.61%, primarily due to increased production materials[5] - The company reported an increase in inventory to RMB 88.77 billion from RMB 63.14 billion, representing a significant rise of approximately 40.5%[21] - Accounts receivable increased to RMB 98.65 billion, up from RMB 88.99 billion, indicating a growth of around 10.5%[21] - The company has seen a notable increase in other receivables, which rose to RMB 4.71 billion from RMB 2.87 billion, indicating a growth of approximately 64%[21] Research and Development - Research and development expenses amounted to RMB 7.98 billion, representing a 6.5% increase from RMB 7.49 billion in the same period last year[24] - Research and development expenses increased to RMB 127.96 million in 2023 from RMB 83.75 million in 2022, reflecting a rise of approximately 53.0%[31] Future Plans - The company plans to continue expanding its new industries and railway equipment business to drive future growth[7] - The company plans to complete the election of new supervisors following the resignation of a supervisor due to the legal minimum number of supervisors being affected[18]