年 報 ANNUAL REPORT 2024 2024 // CORPORATE INFORMATION 公司資料 DIRECTORS Executive Directors Mr. Chen Zhi (Chairman & Chief Executive Officer) Mr. Chen Ye (redesignated from Non-executive Director as on 2023.06.30) Mr. Yu Shiquan (retired as on 2023.06.30) Mr. Wang Xu (appointed as on 2023.01.09 and retired as on 2023.06.30) Non-executive Directors Ms. Wang Bao Zhu (appointed as on 2023.06.30) Mr. Chen Ye (appointed as on 2023.01.09 and redesignated to Executive Director as on 2023.06.30) Ms. Chen Min (retired a ...

Financial Performance - The company reported a significant increase in net profit attributable to shareholders, rising by approximately HKD 21.1 million or about 297.2%, from HKD 7.1 million in the previous year to approximately HKD 28.2 million for the year ended July 31, 2025[22]. - Earnings per share for the year ended July 31, 2025, were HKD 2.82, compared to HKD 0.71 for the previous year[22]. - Total revenue for the year ended July 31, 2025, reached approximately HKD 330.7 million, an increase of about HKD 51.4 million or 18.4% compared to approximately HKD 279.3 million for the previous year[29]. - The company recorded a 297.2% increase in net profit attributable to shareholders, rising from approximately HKD 7.1 million to about HKD 28.2 million for the year ended July 31, 2025[28]. - Revenue from the sale of heavy equipment and parts increased by approximately HKD 50.2 million or 31.7%, from about HKD 158.4 million to approximately HKD 208.6 million[31]. - Revenue from heavy equipment leasing and operator services rose by approximately HKD 3.2 million or 3.0%, from about HKD 105.3 million to approximately HKD 108.5 million[32]. - Revenue from maintenance, logistics, and other ancillary services decreased by approximately HKD 2.0 million or 12.8%, from about HKD 15.6 million to approximately HKD 13.6 million[33]. - The cost of revenue for the year ended July 31, 2025, was approximately HKD 262.9 million, an increase of about HKD 40.9 million or 18.4% compared to approximately HKD 222.0 million for the previous year[34]. - Gross profit increased by approximately HKD 10.5 million or 18.3%, from about HKD 57.3 million to approximately HKD 67.8 million, with a gross margin of approximately 20.5%[35]. - Profit and total comprehensive income increased from approximately HKD 7.1 million for the year ended July 31, 2024, to approximately HKD 28.2 million for the year ended July 31, 2025, representing an increase of approximately 297.2%[41]. Dividends - The board proposed a final dividend of HKD 0.02 per share, with total cash dividends for the year reaching HKD 0.035 per share, up from HKD 0.015 per share in the previous year[22]. - The proposed final cash dividend is HKD 0.02 per ordinary share, which, if approved, will result in a total cash dividend of HKD 0.035 per share for the year ended July 31, 2025, compared to HKD 0.015 for the previous year[42]. Operational Developments - The company continues to provide comprehensive "one-stop service" for earthmoving equipment users and has established strong partnerships with suppliers like Hitachi and Bell Equipment[23]. - The company has fully adopted a safety smart site system across its rental fleet, enhancing project management capabilities and safety standards through digital platforms and AI[23]. - The company plans to launch the latest ZAXIS-7 series hydraulic excavators from Hitachi in 2024, featuring collision safety systems and Aerial Angle® smart cameras to reduce accident risks[23]. - The integrated ConSite® system will monitor oil properties and overheating anomalies to enhance operational reliability[23]. - The company offers Bell brand articulated dump trucks equipped with the Fleetm@tic® satellite-based fleet management system for real-time tracking and performance optimization[24]. - The company remains cautiously optimistic about the outlook for heavy equipment sales and rentals, driven by various development projects initiated by the Hong Kong government[28]. - The company plans to diversify its supplier base and actively procure innovative safety systems and smart products to enhance sustainability and competitiveness[29]. - The Hong Kong government is expected to invest an average of over HKD 120 billion annually in public works projects over the next few years, which is anticipated to sustain strong demand for heavy equipment[29]. Risk Management and Governance - The company’s financial performance, business operations, and outlook may be affected by various risks and uncertainties[73]. - The board believes that the risk management and internal control systems are adequate and effective, with no significant issues identified that could impact financial, operational, or compliance monitoring[177]. - The company has engaged an external consultant to assist in identifying and assessing risks as part of the annual review of the risk management and internal control systems[177]. - The board is responsible for overseeing the management of the group's business affairs and overall performance, including setting the group's values and standards[131]. - The company has maintained good corporate governance practices in accordance with the principles and code provisions set out in the listing rules, with a noted deviation from code provision C.2.1[123]. Employee and Director Information - The total employee cost for the year ending July 31, 2025, is approximately HKD 58.0 million, an increase from HKD 55.0 million in the previous year[116]. - The company employs 116 full-time employees as of July 31, 2025, up from 107 employees a year earlier[116]. - The board consists of a mix of executive and independent non-executive members, ensuring governance and oversight[101]. - The board consists of seven members, with non-executive directors (including independent non-executive directors) making up over 50% of the board, and three out of seven directors being female, reflecting gender diversity[134]. - The company has appointed executive directors for a three-year term starting from July 27, 2023, with the possibility of renewal[103]. - Independent non-executive directors have confirmed their independence after approximately eight years of service, in accordance with listing rules[104]. Shareholder Communication and Meetings - The company has adopted a shareholder communication policy to ensure effective communication with shareholders, with annual reviews of its implementation and effectiveness[191]. - The company will hold its 2025 Annual General Meeting on November 26, 2025[70]. - The company will hold a special general meeting if a qualified shareholder holding at least 10% of the voting rights requests it[187]. - The board is committed to maintaining ongoing dialogue with shareholders, with key executives present at the annual general meeting to address shareholder inquiries[191]. Audit and Compliance - The board's audit committee reviewed the consolidated financial statements for the year ending July 31, 2025, confirming compliance with applicable accounting standards and sufficient disclosures[120]. - Key audit matters identified include the estimation of net realizable value of inventory and impairment assessment of trade and lease receivables[200]. - The external auditor's fee for the audit services related to the financial statements for the year ending July 31, 2025, is 0.8 million HKD[171]. - The company has not changed its independent auditor in the past three years, with a resolution to seek shareholder approval for the reappointment of the auditor at the upcoming annual general meeting[125].

Financial Performance - Revenue for the nine months ended September 30, 2025, was RMB 214,833 million, an increase of 17.9% compared to RMB 182,154 million in the same period of 2024[5] - Gross profit for the same period was RMB 29,464 million, representing a gross margin of 13.7%, up from RMB 27,004 million in 2024[5] - Net profit for the nine months was RMB 14,501 million, a 28.6% increase from RMB 11,312 million in 2024[5] Research and Development - Research and development expenses increased to RMB 7,878 million, up 20.2% from RMB 6,553 million in the previous year[5] Assets and Liabilities - Total assets as of September 30, 2025, were RMB 183,574 million, compared to RMB 162,401 million at the end of 2024[6] - Current liabilities increased to RMB 173,473 million from RMB 165,802 million at the end of 2024[7] - The company's equity increased significantly to RMB 43,910 million, up from RMB 25,924 million in 2024[8] - The company reported a significant increase in trade receivables, which rose to RMB 34,119 million from RMB 17,423 million in the previous year[6] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies and products[9] - The board has not yet finalized any specific guidance for future performance but remains optimistic about growth prospects[9]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （股份編號：0347） 2025年第三季度報告 本 公 司 及 董 事 會 全 體 成 員 保 證 信 息 披 露 的 內 容 真 實、準 確、完 整，沒 有 虛 假 記 載、誤 導 性 陳 述 或 重 大 遺 漏。 重 要 內 容 提 示： 董事、高級管理人員是否存在對季度報告內容存在異議或無法保證其真實、 準 確、完 整 的 情 況 – 1 – 是 ✓ 否 1. 董 事 會 及 董 事、高 級 管 理 人 員 保 證 季 度 報 告 的 真 實、準 確、完 整，不 存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 2. 公 司 負 責 人 王 軍 先 生、主 管 會 計 工 作 負 責 人 李 景 東 先 生 及 會 計 機 構 負責人馬莉女士聲明：保證季度報告中財務信息的真實、準確、完整。 3. 第三季度財務會計報 ...

Financial Performance - Total revenue for the third quarter was RMB 316,386,319, a decrease of 34.87% compared to the same period last year[9]. - Net profit attributable to shareholders was RMB 19,773,669, down 80.11% year-on-year[9]. - Basic earnings per share decreased by 76.92% to RMB 0.03[9]. - Operating revenue decreased by 26.23% year-to-date due to market competition and a decline in sales order prices[16]. - Total profit increased by 242.54% year-to-date, primarily due to a decrease in gross profit and the dual impact of changes in the fair value of biological assets[16]. - Net profit attributable to shareholders increased by 214.79% year-to-date, influenced by lower gross profit and changes in the fair value of biological assets[16]. - Total profit for the current reporting period decreased by 81.85%, primarily due to compressed profit margins from sales orders and decreased contributions from laboratory services[17]. - Net profit attributable to shareholders for the current reporting period decreased by 80.11%, influenced by similar factors affecting total profit[17]. - The net profit from laboratory services for the year-to-date period was a loss of RMB 156,891,000, a significant decrease of 9,101.32% year-on-year[12]. - The net profit excluding non-recurring gains and losses for the year-to-date period was RMB 29,044,731, a decrease of 92.94%[9]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 9,533,382,709, an increase of 1.46% from the previous year[9]. - The total liabilities increased to RMB 1.41 billion as of September 30, 2025, compared to RMB 1.32 billion at the end of 2024[25]. - The total non-current assets decreased to RMB 4.22 billion from RMB 4.36 billion, showing a decline of approximately 3.2%[24]. - The company's fixed assets increased to RMB 780.36 million from RMB 696.79 million, reflecting a growth of about 12%[24]. - The contract liabilities rose to RMB 978.97 million from RMB 827.16 million, indicating a growth of approximately 18.4%[25]. Cash Flow - The company's cash flow from operating activities for the year-to-date period was RMB 266,391,149, an increase of 38.51%[9]. - Net cash flow from operating activities increased by 38.51% year-to-date, mainly due to a decrease in cash payments for goods and taxes[16]. - Operating cash inflow for the first three quarters of 2025 was CNY 1,323,471,987.19, a decrease of 3.2% compared to CNY 1,367,691,390.73 in the same period of 2024[35]. - Cash inflow from investment activities totaled CNY 1,966,983,491.98, down 21.5% from CNY 2,508,098,115.21 in 2024[36]. - Net cash flow from investment activities was negative at CNY -264,722,612.49, an improvement from CNY -950,050,766.71 in the previous year[36]. - Cash outflow from financing activities decreased significantly to CNY 58,988,545.91 in 2025, compared to CNY 248,828,091.97 in 2024[37]. - The net increase in cash and cash equivalents for the first three quarters of 2025 was CNY -63,142,619.75, a notable improvement from CNY -1,013,522,516.10 in 2024[37]. - The ending balance of cash and cash equivalents as of September 2025 was CNY 902,060,508.84, down from CNY 1,840,124,511.87 in 2024[37]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 96,458[19]. - The total equity attributable to shareholders increased by 0.52% to RMB 8,120,652,590[9]. - The total equity attributable to shareholders as of September 30, 2025, was CNY 8,120,652,590.12, slightly up from CNY 8,078,818,586.72 at the end of 2024[26]. - The total liabilities and equity amounted to CNY 9,533,382,709.22 as of September 30, 2025, compared to CNY 9,396,152,610.45 at the end of 2024[26]. Income and Expenses - Total operating revenue for the first three quarters of 2025 was CNY 984,961,529.76, a decrease of 26.1% compared to CNY 1,335,156,050.40 in the same period of 2024[28]. - Total operating costs for the first three quarters of 2025 were CNY 1,025,427,901.11, down from CNY 1,227,734,251.03 in 2024, reflecting a reduction of 16.5%[28]. - The net profit for the first three quarters of 2025 was CNY 80,706,047.32, compared to a net loss of CNY 74,244,009.94 in the same period of 2024[29]. - The comprehensive income total for the first three quarters of 2025 was CNY 74,225,826.90, a significant improvement from a loss of CNY 79,103,195.69 in 2024[31]. - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.11, compared to a loss of CNY 0.09 per share in 2024[31]. - Other income increased to CNY 24,712,928.01 in 2025 from CNY 19,124,400.35 in 2024, marking a growth of 29.0%[29]. - Investment income decreased to CNY 20,033,342.30 in 2025 from CNY 31,620,189.62 in 2024, a decline of 36.8%[29]. - The company reported a decrease in research and development expenses to CNY 63,864,270.44 in 2025 from CNY 71,085,657.06 in 2024, a reduction of 10.0%[28].

Financial Performance - The company's operating revenue for the reporting period was CNY 19,496,655,926, representing a year-on-year increase of 5.35%[7] - The total profit for the reporting period was CNY 365,974,032, while the net profit attributable to shareholders was CNY 158,409,222[7] - The basic earnings per share for the reporting period was CNY 0.02, compared to CNY 0.01 for the same period last year[7] - The company reported a net profit attributable to shareholders, excluding non-recurring gains and losses, of CNY 176,264,998 for the reporting period[7] - The total profit of Maanshan Iron & Steel Co., Ltd. was approximately RMB 296 million during the reporting period[17] - The total comprehensive income for the first nine months of 2025 was RMB 355.63 million, compared to a loss of RMB 2.78 billion in 2024, showing a strong recovery in overall financial performance[26] - The total profit for the first nine months of 2025 was RMB 483.69 million, a substantial recovery from a loss of RMB 2.62 billion in the same period of 2024[25] - Net profit attributable to the parent company for the first nine months of 2025 was RMB 83.63 million, compared to a loss of RMB 2.53 billion in 2024, indicating a significant turnaround[25] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 69.60%, amounting to CNY 4,324,134,550[7] - The company reported a net cash flow from operating activities of RMB 4.32 billion for the first nine months of 2025, an increase from RMB 2.55 billion in the same period of 2024, representing a growth of 69.83%[28] - The cash flow from operating activities was not detailed in the provided data, but the overall cash position improved significantly[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 83,199,735,142, reflecting a 5.37% increase from the previous year[7] - The company reported a total current asset of RMB 25.89 billion as of September 30, 2025, compared to RMB 19.47 billion at the end of 2024, reflecting a 32.9% increase[22] - The company's total liabilities decreased to RMB 50.38 billion as of September 30, 2025, from RMB 51.64 billion at the end of 2024, a reduction of 2.4%[24] - The company reported cash payments for investments totaling $662,714,173 in 2025, with no comparable figure for 2024, suggesting a new investment strategy[29] Operational Efficiency - The company attributed the increase in net profit to improved operational efficiency and reduced cash payments for raw materials and services[10] - The company is actively implementing technical cost reduction projects to support operational performance improvement[18] - The company plans to enhance operational efficiency by optimizing marketing strategies and improving product structure[20] - The company is focusing on deepening reforms and innovations to manage costs and improve operational performance[20] Production and Sales - The company produced 14.12 million tons of pig iron, 15.26 million tons of crude steel, and 14.47 million tons of steel products from January to September 2023[17] - New product sales reached approximately 1.32 million tons, with gross profit from new products increasing by 113% year-on-year[18] - The company has launched three new products, including high-strength 2200MPa aluminum-silicon coated hot-formed steel, marking their domestic debut[18] Cost Management - The company achieved a reduction in fuel ratio by 9 kg/t and coke ratio by 8 kg/t compared to Q1 2025, supporting low-carbon production and cost control[17] - The incidence of waste and defective products decreased by 0.65 percentage points and 0.71 percentage points, respectively, compared to Q1 2025[18] - The company achieved a cost reduction of RMB 190 million through 46 planned energy-saving measures by the end of September 2025[19] - The company reported a decrease in cash paid for purchasing goods and services to RMB 47.99 billion in 2025 from RMB 52.62 billion in 2024, a reduction of 8.83%[28] Recognition and Awards - The company has received recognition as a "Carbon Peak and Carbon Neutrality Benchmark Enterprise" and won a special award for innovative achievements in carbon neutrality[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 131,371[11] - The equity attributable to shareholders increased by 3.44% to CNY 24,057,112,997 compared to the previous year[7] - The company reported a total equity attributable to shareholders of RMB 24.06 billion as of September 30, 2025, compared to RMB 23.26 billion at the end of 2024, an increase of 3.4%[24]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 東方電氣股份有限公司 馮 勇 聯席公司秘書 中國‧四川省‧成都 2025年10月30日 2025年第三季度報告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.09條和第 13.10B條及香港法例第571章證券及期貨條例第XIVA部 刊 發。 下文載列截至2025年9月30日止九個月（「報告期」）東方電氣股份有限公司（「公 司」或「東方電氣」）及 其 附 屬 公 司 的2025年 第 三 季 度 報 告。該 報 告 所 載 的 財 務 報 告 乃 根 據 中 國 企 業 會 計 準 則 編 製，且 未 經 審 計。 本 公 告 以 中 英 文 兩 種 語 言 編 製。如 中 英 文 版 本 有 任 何 歧 義，概 以 中 文 版 本 為 準。 承董事會命 – 1 – 於 本 公 告 刊 發 日 期，公 司 董 事 如 下： 非 執 ...

Financial Performance - The company's operating revenue for the third quarter reached CNY 268,497,491.74, representing a year-on-year increase of 109.51%[8] - The total profit for the period was CNY 84,476,176.70, with a year-to-date profit of CNY 211,788,696.95, reflecting a significant increase of 220.09% compared to the previous year[8] - Net profit attributable to shareholders was CNY 77,061,913.60 for the quarter, and CNY 191,531,404.47 year-to-date, marking a 213.21% increase year-on-year[8] - The basic earnings per share for the quarter was CNY 0.20, with a year-to-date figure of CNY 0.50, showing a growth of 212.50%[9] - The company reported a net cash flow from operating activities of CNY 174,567,044.11 year-to-date, indicating improved cash management[8] - Total operating revenue for the first three quarters of 2025 reached ¥756,093,897.40, compared to ¥508,283,661.62 in the same period of 2024, indicating a significant increase[25] - Net profit for the first three quarters of 2025 reached CNY 191,612,423.86, a significant increase from CNY 61,008,648.47 in the same period of 2024, representing a growth of approximately 213%[26] - Operating profit for the first three quarters of 2025 was CNY 211,727,931.57, compared to CNY 65,450,654.17 in 2024, indicating an increase of about 223%[26] - The total comprehensive income for the first three quarters of 2025 was CNY 191,612,423.86, compared to CNY 61,008,648.47 in 2024, showing a growth of approximately 213%[27] Research and Development - Research and development expenses totaled CNY 35,618,326.74 for the quarter, accounting for 13.27% of operating revenue, a decrease from 11.71% in the previous year[9] - Research and development expenses for the first three quarters of 2025 amounted to ¥86,472,598.27, compared to ¥99,676,406.70 in the same period of 2024, showing a decrease[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 6,164, with 6,149 A-share holders and 15 H-share holders[18] - The largest shareholder, Shi Chunbao, holds 120,209,043 shares, representing 31.34% of the total shares[16] - The second-largest shareholder, Yue Shujun, holds 95,447,900 shares, accounting for 24.88% of the total shares[17] - Beijing Panmao Investment Management Co., Ltd. holds 17,250,000 shares, representing 4.50% of the total shares[17] - The report indicates that there are no known relationships or concerted actions among the top shareholders[18] - The company has not received any notifications regarding changes in the lending or borrowing of shares among the top shareholders[19] Dividend Distribution - The company plans to distribute a cash dividend of 2.10 RMB per 10 shares, amounting to a total of 80,260,246.29 RMB, which represents 41.90% of the net profit attributable to ordinary shareholders[20] - The total share capital as of September 30, 2025, is 383,568,500 shares, with 1,376,851 shares held in the A-share repurchase account excluded from the profit distribution[20] - The company does not plan to convert capital reserves into share capital or issue bonus shares in the current profit distribution plan[20] - The cash dividend distribution plan is subject to approval at the company's first extraordinary general meeting in 2025[20] Asset and Liability Management - Total assets at the end of the reporting period were CNY 3,540,324,901.27, an increase of 2.15% from the previous year[9] - The total current assets as of September 30, 2025, were ¥2,900,888,254.67, an increase from ¥2,840,481,126.00 at the end of 2024[22] - The total liabilities decreased to ¥554,084,889.04 as of September 30, 2025, down from ¥644,390,846.18 at the end of 2024[23] - The total assets as of September 30, 2025, were ¥3,540,324,901.27, compared to ¥3,465,734,982.98 at the end of 2024, indicating growth[23] - Cash and cash equivalents as of September 30, 2025, were ¥1,109,889,349.24, slightly down from ¥1,139,778,517.24 at the end of 2024[22] - Cash and cash equivalents at the end of the reporting period were CNY 1,105,901,679.78, down from CNY 1,155,205,573.66 at the end of the previous year[30] Operational Strategy - The company attributes revenue growth to the integration of product lines into centralized procurement and a focus on product innovation and international development strategies[14] - The company plans to continue optimizing resource allocation and enhancing operational management to sustain profit growth[14] Cash Flow and Investment - Cash flow from operating activities generated a net amount of CNY 174,567,044.11, a turnaround from a negative cash flow of CNY 17,279,413.75 in the previous year[29] - Investment activities resulted in a net cash outflow of CNY 180,050,292.79, compared to a net inflow of CNY 50,828,134.57 in the same period of 2024[29] - The company incurred credit impairment losses of CNY 13,646,674.50, compared to CNY 7,060,926.86 in the previous year, indicating an increase in credit risk[26] - The company reported a decrease in accounts payable to ¥178,184,791.15 from ¥227,845,174.60 in the previous year[23] - The company reported a decrease in cash outflows related to employee payments, which amounted to CNY 149,971,256.13, down from CNY 195,375,092.18 in the previous year[29]

Financial Performance - Total operating revenue for Q3 2025 reached RMB 49,068,750, representing a year-on-year increase of 0.90%[7] - Net profit attributable to shareholders decreased by 11.31% year-on-year to RMB 3,675,509[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased significantly by 279.95% year-on-year to RMB 3,647,601[7] - The total profit for the reporting period was RMB 4,144,426, a decrease of 5.16% year-on-year[7] - Total operating revenue for the first three quarters of 2025 reached RMB 129,826,184 thousand, a slight increase of 1.31% compared to RMB 128,149,919 thousand in the same period of 2024[32] - Net profit for the first three quarters of 2025 was RMB 1,357,097 thousand, representing a significant increase of 76.3% compared to RMB 769,271 thousand in 2024[33] - Operating profit for the first three quarters of 2025 was RMB 1,224,326 thousand, an increase of 47.5% from RMB 829,699 thousand in 2024[33] - Basic and diluted earnings per share for the first three quarters of 2025 were both RMB 0.11, compared to RMB 0.09 in 2024[34] - Net profit for the first three quarters of 2025 was RMB 467,262 thousand, up 1.4% from RMB 462,065 thousand in 2024[49] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 349,363,328, reflecting a 1.04% increase from the previous year[9] - The total liabilities decreased from RMB 137,610,055 thousand to RMB 117,406,524 thousand, showing a reduction of about 14.7%[28] - The total liabilities as of September 30, 2025, amounted to RMB 307,030,290 thousand, slightly up from RMB 304,824,203 thousand at the end of 2024[29] - Total non-current liabilities increased to RMB 189,623,766 thousand as of September 30, 2025, compared to RMB 167,214,148 thousand at the end of 2024, marking a growth of 13.4%[29] - The total equity attributable to shareholders increased by 2.67% to RMB 46,350,829 compared to the end of the previous year[9] - The total equity attributable to shareholders of the parent company was RMB 46,350,829 thousand as of September 30, 2025, up from RMB 45,147,411 thousand at the end of 2024[29] - The total cash and cash equivalents at the end of September 2025 reached RMB 24,213,124, compared to RMB 20,260,860 at the end of September 2024[40] - The total liabilities and equity amounted to RMB 235,243,186 thousand as of September 30, 2025, slightly down from RMB 235,743,560 thousand at the end of 2024[46] Cash Flow - Cash flow from operating activities for the year-to-date period was RMB 34,076,814, showing a 10.85% increase[7] - Operating cash flow for the first three quarters of 2025 was RMB 34,076,814, an increase of 10.8% compared to RMB 30,741,937 in 2024[38] - Cash inflow from investment activities totaled RMB 3,174,154 in 2025, up from RMB 2,470,695 in 2024, while cash outflow was RMB 13,798,386, compared to RMB 12,710,264 in the previous year[39] - The net cash flow from financing activities in 2025 was -RMB 20,244,400, worsening from -RMB 15,283,175 in 2024, with cash inflow increasing to RMB 71,779,829 from RMB 34,439,551[39] - Cash flow from operating activities generated a net amount of RMB 21,031,119 thousand, an increase from RMB 19,770,703 thousand in the previous year[53] Shareholder Information - The company has a significant shareholder structure, with China National Aviation Holding Company holding 42.53% of shares, indicating strong control over the company[19] - The company reported a total of 6,566,761,847 circulating shares held by major shareholders, reflecting a stable shareholder base[19] - There are no significant changes in the participation of major shareholders in margin financing and securities lending activities[21] Research and Development - The company reported an increase in research and development expenses to RMB 312,482 thousand in the first three quarters of 2025, compared to RMB 293,450 thousand in 2024, reflecting a focus on innovation[32] - Research and development expenses rose to RMB 106,756 thousand in 2025, compared to RMB 84,680 thousand in 2024, reflecting a focus on innovation[49] Other Financial Metrics - The weighted average return on equity decreased by 2.50 percentage points to 8.26%[7] - Other comprehensive income after tax for the first three quarters of 2025 was RMB -670,077 thousand, a decline from RMB 120,134 thousand in 2024[34] - Other comprehensive income after tax increased to RMB 31,574 thousand in 2025 from RMB 15,207 thousand in 2024[50] - The company reported a decrease in financial expenses to RMB 2,416,485 thousand in 2025 from RMB 2,815,913 thousand in 2024, indicating improved financial management[49] - The company reported government subsidies of RMB 67,334 for the current period, contributing to its financial performance[11]

Financial Performance - For the third quarter of 2025, SANY Heavy Industry reported a revenue of RMB 21,207,370, representing a year-on-year increase of 10.73% compared to RMB 19,152,505 in the same period last year[9] - The total profit for the same period was RMB 2,322,193, which is a significant increase of 50.88% from RMB 1,539,127 in the previous year[9] - Net profit attributable to shareholders of the listed company reached RMB 1,919,279, marking a 48.18% increase from RMB 1,295,202 year-on-year[9] - The basic earnings per share for the third quarter was RMB 0.2280, up 48.73% from RMB 0.1533 in the same quarter last year[9] - Total operating revenue for the first three quarters of 2025 reached RMB 66,104,144 thousand, an increase of 13.0% compared to RMB 58,360,802 thousand in the same period of 2024[27] - Operating profit for the first three quarters of 2025 was RMB 8,392,531 thousand, up 48.8% from RMB 5,645,269 thousand in the first three quarters of 2024[28] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was RMB 7,135,595 thousand, representing a 46.5% increase from RMB 4,867,964 thousand in the same period of 2024[28] - Basic earnings per share for the first three quarters of 2025 was RMB 0.8455, compared to RMB 0.5757 in the first three quarters of 2024, reflecting a growth of 47.0%[30] - The company reported a total comprehensive income of RMB 7,702,691 thousand for the first three quarters of 2025, compared to RMB 4,868,730 thousand in the same period of 2024, marking a significant increase of 58.0%[30] Assets and Liabilities - The total assets at the end of the reporting period were RMB 156,896,818, reflecting a 3.12% increase from RMB 152,145,076 at the end of the previous year[10] - The equity attributable to shareholders of the listed company was RMB 73,413,348, which is a 2.03% increase from RMB 71,953,244 at the end of the previous year[10] - Total current assets as of September 30, 2025, amount to 107,733,751 thousand RMB, an increase from 101,505,319 thousand RMB at the end of 2024[21] - Total non-current assets decreased to 49,163,067 thousand RMB from 50,639,757 thousand RMB[22] - Total liabilities as of September 30, 2025, amounted to RMB 82,360,539 thousand, an increase from RMB 79,143,477 thousand as of December 31, 2024[24] - Total current liabilities increased to 67,552,819 thousand RMB from 63,669,228 thousand RMB[23] - Short-term borrowings rose to 7,109,922 thousand RMB from 5,953,356 thousand RMB[23] - Accounts receivable increased to 27,317,858 thousand RMB from 25,516,530 thousand RMB[21] - Inventory as of September 30, 2025, is 21,018,757 thousand RMB, up from 19,947,981 thousand RMB[21] - The total assets and shareholders' equity as of September 30, 2025, were CNY 43,925,878 thousand and CNY 19,118,788 thousand, respectively, compared to CNY 47,362,883 thousand and CNY 22,708,356 thousand as of December 31, 2024[43] Cash Flow - Cash flow generated from operating activities for the year-to-date period was RMB 14,547,126, an increase of 17.55% compared to RMB 12,375,235 in the same period last year[9] - Operating cash inflow for the first three quarters of 2025 was CNY 74,663,936, an increase of 11.5% compared to CNY 67,121,813 in the same period of 2024[34] - Net cash outflow from operating activities was CNY 14,547,126 for the first three quarters of 2025, up from CNY 12,375,235 in 2024, reflecting a growth of 17.6%[35] - Cash inflow from investment activities totaled CNY 9,702,944, slightly down from CNY 9,779,493 in the previous year[36] - Net cash outflow from investment activities was CNY -8,492,013, compared to CNY -229,115 in the same period of 2024, indicating a significant increase in investment expenditures[36] - Cash inflow from financing activities was CNY 18,555,427, a decrease of 10.7% from CNY 20,798,887 in 2024[37] - Net cash outflow from financing activities was CNY -9,281,958, improving from CNY -11,541,280 in the previous year[37] Shareholder Information - Total number of common shareholders at the end of the reporting period is 452,943[17] - The largest shareholder, SANY Group Co., Ltd., holds 2,480,088,257 shares, representing 29.27% of total shares[18] - The company has a significant pledge of shares, with 422,627,942 shares pledged by the largest shareholder[17] Research and Development - Research and development expenses for the first three quarters of 2025 were RMB 3,385,844 thousand, slightly down from RMB 3,850,903 thousand in the same period of 2024, indicating a focus on cost management[28] - Research and development expenses for the first three quarters of 2025 were CNY 149,766 thousand, down 27.0% from CNY 205,253 thousand in the first three quarters of 2024[46] Financial Management - Non-recurring gains and losses for the year-to-date period totaled RMB 222,474, with significant contributions from government subsidies and other operational income[13] - The financial expenses for the first three quarters of 2025 showed a significant improvement, with a net financial expense of -RMB 622,126 thousand compared to RMB 277,624 thousand in the same period of 2024, indicating better financial management[28] - The company’s deferred income as of September 30, 2025, was RMB 2,418,516 thousand, an increase from RMB 2,347,376 thousand as of December 31, 2024, reflecting ongoing revenue recognition strategies[24]