CRRC(601766)2024-10-30 13:07Financial Performance - The company's operating revenue for Q3 2024 reached RMB 62,543,500, an increase of 12.22% compared to the same period last year[2] - Net profit attributable to shareholders was RMB 3,044,125, reflecting a growth of 13.11% year-on-year[2] - The net profit excluding non-recurring gains and losses was RMB 2,637,020, up 11.52% from the previous year[2] - Total revenue for the first three quarters of 2024 reached CNY 152.58 billion, an increase of 6.5% compared to CNY 143.04 billion in the same period of 2023[19] - Net profit for the first three quarters of 2024 was CNY 9.47 billion, up 18.1% from CNY 8.02 billion in the same period of 2023[19] - The company reported a comprehensive income total of CNY 9.57 billion for the first three quarters of 2024, an increase from CNY 8.09 billion in the same period of 2023[20] Assets and Liabilities - The total assets at the end of the reporting period amounted to RMB 501,501,315, representing a 6.30% increase from the end of the previous year[3] - Total assets as of September 30, 2024, amounted to CNY 501.50 billion, up from CNY 471.79 billion at the end of 2023[17] - Total liabilities increased to CNY 297.69 billion, compared to CNY 275.27 billion at the end of 2023, reflecting a growth of 8.2%[17] - The company reported a decrease in total equity to CNY 100,915,012 thousand as of September 30, 2024, down from CNY 106,057,186 thousand at the end of 2023[24] Cash Flow - The cash flow from operating activities showed a net inflow of RMB 76,221,850, a significant improvement from a net outflow of RMB 39,920,000 in the same period last year[6] - Operating cash inflow for the first three quarters of 2024 reached CNY 167,250,303 thousand, an increase of 16.1% compared to CNY 144,006,571 thousand in the same period of 2023[22] - Net cash flow from operating activities was CNY 7,622,185 thousand, a significant improvement from a net outflow of CNY -3,992,206 thousand in the previous year[22] - The company experienced a net cash outflow from financing activities of CNY -8,903,448 thousand in the first three quarters of 2024, compared to a net inflow of CNY 1,223,771 thousand in the same period of 2023[23] Shareholder Information - The total equity attributable to shareholders was RMB 163,485,332, reflecting a 1.56% increase from the previous year[3] - As of the end of the reporting period, the total number of ordinary shareholders was 539,942, with the largest shareholder, CRRC Group, holding 14,587,578,250 shares, accounting for 50.83% of the total shares[10] - CRRC Group's total holdings, including A shares and H shares, amounted to 14,765,441,250 shares, representing approximately 51.45% of the company's total issued shares[13] - The company has not reported any changes in the participation of major shareholders in securities lending activities during the reporting period[14] Business Segments - The railway equipment business generated RMB 71,765,238 in revenue, a 36.69% increase year-on-year, driven by higher sales of multiple train types[8] - The company reported a decrease in the modern services business revenue by 49.03%, mainly due to a reduction in logistics and leasing services[9] Management and Strategy - The company appointed Ma Yunduo as president and several vice presidents on February 22, 2024, indicating a strategic shift in management[14] - The company plans to continue its strategic development and market expansion, focusing on enhancing shareholder value through share buybacks and management optimization[12][15] - The report emphasizes the importance of ongoing investor communication regarding the company's operational performance and strategic initiatives[14] Research and Development - Research and development expenses increased to CNY 9.70 billion, representing a rise of 21.6% compared to CNY 7.98 billion in the first three quarters of 2023[19] - Research and development expenses increased to CNY 322,670 thousand in the first three quarters of 2024, up from CNY 127,962 thousand in 2023, marking a rise of 152.5%[26] Cash and Investment Activities - Cash inflow from investment activities reached 23,501,046 thousand RMB, up from 18,640,975 thousand RMB in the previous year, reflecting a growth of approximately 26.5%[27] - The company received 16,641,841 thousand RMB from investment recoveries, an increase from 13,982,141 thousand RMB in the previous year[27] - The cash received from investment income was 6,859,205 thousand RMB, compared to 4,658,834 thousand RMB in the same period of 2023, marking a growth of approximately 47.2%[27] Accounting Standards - The company did not apply new accounting standards or interpretations for the year 2024[28]