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。 （上 市 債 務 證 券 代 號：40686、40687和84570） 2025年第三季度報告 本公告乃根據香港法例第571章證券及期貨條例第XIVA部及香港聯合交 易所有限公司證券上市規則第13.09條及第13.10B條 而 作 出。 本公司截至2025年9月30日 之 第 三 季 度 未 經 審 計 業 績 摘 要： 公司董事會及董事、高級管理人員保證季度報告內容的真實、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。 公 司 負 責 人、主 管 會 計 工 作 負 責 人 及 會 計 機 構 負 責 人（會 計 主 管 人 員）保 證 季 度 報 告 中 財 務 信 息 的 真 實、準 確、完 整。 第三季度財務報表是否經審計 是 ✔ 否 – 2 – 一. 主要財務數據 （一）主要會計數據和財務指標 ...

Revenue and Profitability - The Group's revenue decreased, but the gross profit margin improved from 8.73% for the six months ended June 30, 2024, to 11.60% for the six months ended June 30, 2025[25]. - The gross profit margin of the Group increased from 8.73% for the six months ended June 30, 2024, to 11.60% for the six months ended June 30, 2025, due to improved product profitability in the media entertainment platform segment[28]. - Revenue for the six months ended June 30, 2025, was HK$225,269,000, a decrease of 27.8% compared to HK$312,076,000 in 2024[174]. - Gross profit for the same period was HK$26,140,000, down 4.1% from HK$27,255,000 in 2024[174]. - Loss for the period attributable to owners of the Company was HK$40,161,000, a significant decline from a profit of HK$17,995,000 in 2024[175]. - Basic and diluted loss per share for the period was HK$3.26, compared to earnings of HK$1.46 per share in 2024[175]. - Total comprehensive income for the period was a loss of HK$44,900,000, compared to a loss of HK$3,938,000 in the previous year[175]. Revenue by Segment - The media entertainment platform related products segment experienced a revenue decline of approximately 65.71% compared to the same period in 2024[25]. - Revenue from media entertainment platform related products decreased by approximately 65.71%, from approximately HK$70.3 million for the six months ended June 30, 2024, to approximately HK$24.1 million for the six months ended June 30, 2025[29][31]. - Revenue from other multimedia products slightly decreased by approximately 0.25%, from approximately HK$43.5 million for the six months ended June 30, 2024, to approximately HK$43.4 million for the six months ended June 30, 2025[32][36]. - Revenue from satellite TV equipment and antenna products decreased from approximately HK$198.3 million for the six months ended June 30, 2024, to approximately HK$157.8 million for the six months ended June 30, 2025, representing a decline[41]. - Revenue from Asia increased by approximately 9.4%, from approximately HK$63.9 million for the six months ended June 30, 2024, to approximately HK$69.9 million for the six months ended June 30, 2025[48][49]. - Revenue from Europe decreased by approximately 31.8%, from approximately HK$44.0 million for the six months ended June 30, 2024, to approximately HK$30.0 million for the six months ended June 30, 2025[48][49]. - Revenue from the Middle East increased by approximately 30.0%, from approximately HK$8.0 million for the six months ended June 30, 2024, to approximately HK$10.4 million for the six months ended June 30, 2025[48][49]. - Revenue from North America for the six months ended June 30, 2025 was approximately HK$113.2 million, a decrease of approximately 40.2% from HK$189.2 million in the prior year, accounting for approximately 50.2% of total revenue[56]. - Revenue from South America for the six months ended June 30, 2025 was approximately HK$1.6 million, down approximately 76.5% from HK$6.8 million in the previous year, representing about 0.7% of total revenue[56]. Financial Position and Cash Flow - Loss attributable to owners of the Company was approximately HK$40.2 million for the six months ended 30 June 2025, compared to a profit of approximately HK$18.0 million for the same period in 2024[60]. - The Group's finance costs for the six months ended 30 June 2025 were approximately HK$14.2 million, an increase from approximately HK$13.5 million in the prior year[62]. - As at 30 June 2025, the Group's total borrowings were approximately HK$395.0 million, slightly down from approximately HK$398.1 million as of 31 December 2024[76]. - The Group's current ratio as of 30 June 2025 was 0.63, compared to 0.65 as of 31 December 2024[75]. - The trade and bills receivables as of 30 June 2025 were approximately HK$71.5 million, down from approximately HK$90.2 million as of 31 December 2024[70]. - The average turnover days for trade receivables were 66 days for the six months ended 30 June 2025, compared to 65 days in the previous year[70]. - The Group's capital-to-debt ratio improved from approximately 46.28% as of December 31, 2024, to about 44.38% as of June 30, 2025[79]. - The Group's bank deposits used as collateral for general bank credit amounted to approximately HK$6.3 million, up from HK$4.6 million as of December 31, 2024[80]. - The outstanding guarantees to the bank for mortgage arrangements amounted to RMB121.536 million (approximately HK$133.263 million) as of the end of the reporting period[84]. - The Group's existing loans that were past due amounted to US$138.06 million as of June 30, 2025, comprising a principal amount of US$71.298 million and accrued interest of US$66.762 million[98]. - The Group's financial statements have been prepared on a going concern basis, despite the material uncertainties identified[199]. - The Group's ability to renew bank and other borrowings is critical for maintaining its going concern status[200]. Strategic Initiatives and Future Outlook - The Group is committed to identifying effective avenues for future business growth and exploring opportunities to strengthen its revenue base and long-term profitability[20]. - The Group aims to diversify its income sources by identifying business opportunities in emerging markets and other sectors[15]. - The Group is mitigating the impacts of the China-US trade war by sourcing from suppliers in Southeast Asia to avoid excessive tariffs imposed by the US on products from China[14]. - The Group has been outsourcing production to suppliers in Vietnam since 2018 and has progressively wound down its own production facilities[19]. - A joint venture agreement was entered into in July 2023 with Guangdong Huasuan International Industrial Park Investment Development Co., Ltd. for the redevelopment of the Group's industrial land into a precision intelligent manufacturing center[19]. - The joint venture will redevelop the land into a precision intelligent manufacturing center and R&D innovation hub, with the Group contributing the land and Huasuan funding the redevelopment costs[117]. - The Group will retain 20% of the total gross floor area and corresponding revenue from new buildings, while Huasuan will receive 80%[118]. - The redevelopment project is currently in progress, with ongoing funding needs being closely monitored by both parties[119]. Corporate Governance and Compliance - The Group emphasized the importance of good corporate governance practices to enhance shareholder value[155]. - The Company confirmed compliance with the Model Code for securities transactions by Directors throughout the six months ended June 30, 2025[160]. - No incidents of non-compliance were noted by the Company for the six months ended June 30, 2025[160]. - The Company maintained the prescribed public float under the Listing Rules as of the date of the interim report[167]. - There were no competing interests or conflicts of interest reported among Directors or controlling Shareholders for the six months ended June 30, 2025[162]. Shareholding and Capital Structure - As of June 30, 2025, Mr. Hung Tsung Chin holds 140,000,000 shares, representing 11.38% of the issued share capital of the Company[137]. - The total number of issued shares as of June 30, 2025, is 1,230,403,725[137]. - First Steamship Company Limited is a substantial shareholder with 473,869,283 shares, accounting for 38.51% of the issued share capital[148]. - Legacy Trust Company Limited holds 187,118,394 shares, which is 15.21% of the issued share capital[148]. - Chen Ming-Jieh owns 120,000,000 shares, representing 9.75% of the issued share capital[148]. - The shares held by Metroasset Investments Limited are also attributed to Mr. Hung Tsung Chin, who beneficially owns 45.09% of that corporation[137]. - The Company has established service contracts with all directors for a maximum term of three years[134]. Employment and Workforce - The Group employed a total of 872 full-time employees as of June 30, 2025, down from 1,116 as of December 31, 2024[129].

Financial Performance - Total revenue for Q3 2025 reached RMB 401,015,623.64, representing a year-on-year increase of 9.55%[7] - The net profit attributable to shareholders was a loss of RMB 11,854,518.21, with a total profit of RMB -4,562,540.32 for the quarter[7] - The basic and diluted earnings per share for the quarter were both -0.02 RMB[7] - The weighted average return on equity was -1.12% for the quarter, a decrease of 0.08% compared to the previous year[7] - Total operating revenue for the first three quarters of 2025 was CNY 1,081,359,385.64, a decrease of 2.1% compared to CNY 1,114,845,789.14 in the same period of 2024[28] - The net profit for the first three quarters of 2025 was a loss of CNY 26,455,880.13, compared to a loss of CNY 8,415,156.38 in the same period of 2024[29] - Basic and diluted earnings per share for the first three quarters of 2025 were both -0.05 RMB, compared to -0.03 RMB in the same period of 2024[31] - Total comprehensive income for the first three quarters of 2025 was -27,364,337.22 RMB, compared to -8,114,027.82 RMB in the same period of 2024, indicating a significant decline[31] Cash Flow and Assets - Cash flow from operating activities showed a significant increase, amounting to RMB 81,275,935.41, up 1,234.01% compared to the previous year[7] - As of September 30, 2025, the company's total current assets amount to RMB 1,751,793,984.15, an increase from RMB 1,470,064,248.64 as of December 31, 2024[23] - Cash and cash equivalents increased to RMB 736,363,672.13 from RMB 482,988,509.97[23] - Accounts receivable rose to RMB 520,918,618.93 compared to RMB 499,865,493.32 in the previous year[23] - The net cash flow from operating activities for the first three quarters of 2025 was -8,676,632.10 RMB, an improvement from -137,254,868.82 RMB in the same period of 2024[35] - Cash received from sales of goods and services increased to 755,035,363.98 RMB in the first three quarters of 2025, up from 707,372,287.52 RMB in 2024, reflecting a growth of approximately 6.7%[34] - The total net cash increase for the first three quarters of 2025 was 238,719,061.69 RMB, contrasting with a decrease of -119,451,319.54 RMB in the same period of 2024[36] - The cash outflow from operating activities totaled 862,706,808.90 RMB in the first three quarters of 2025, slightly lower than 870,588,579.75 RMB in 2024[35] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,171[14] - The largest shareholder, Beijing Jingcheng Machinery Holdings Co., Ltd., holds 44.88% of the shares, totaling 245,735,052 shares[15] - HKSCC Nominees Limited is the second-largest shareholder with 18.17%, holding 99,494,827 shares[15] Research and Development - Research and development expenses increased year-on-year as the company invested in enhancing core competitiveness and product development[13] - Research and development expenses increased to CNY 60,339,328.39 in the first three quarters of 2025, up from CNY 45,318,705.16 in 2024, reflecting a growth of 33.2%[28] Liabilities and Equity - Total assets at the end of the reporting period were RMB 3,332,242,347.54, reflecting a 7.96% increase from the previous year[8] - Equity attributable to shareholders decreased by 28.80%, totaling RMB 771,914,740.85 compared to RMB 1,084,156,625.22 at the end of the previous year[8] - Total liabilities as of September 30, 2025, amounted to CNY 1,940,280,183.15, an increase from CNY 1,674,456,080.34 at the end of 2024[26] - The total equity attributable to shareholders of the parent company decreased to CNY 771,914,740.85 as of September 30, 2025, from CNY 1,084,156,625.22 at the end of 2024[26] Corporate Actions and Events - The company plans to repurchase and cancel 180,000 restricted shares due to five individuals no longer meeting incentive criteria[18] - Tianhai Hydrogen Equipment Co., Ltd. will raise RMB 290 million through public offerings to diversify equity and enhance governance structure[19] - Tianhai Low Temperature Equipment Co., Ltd. is facing bankruptcy proceedings initiated by creditors due to inability to repay debts[21] - The company has established a dedicated account for the repurchase of restricted shares with the China Securities Depository and Clearing Corporation[18] - The company will continue to monitor the bankruptcy situation and comply with relevant disclosure obligations[21] - The company reported a significant increase in other income to CNY 14,907,449.23 in the first three quarters of 2025, compared to CNY 9,012,342.75 in 2024[29] - Long-term borrowings increased to CNY 152,337,500.00 as of September 30, 2025, up from CNY 133,350,000.00 at the end of 2024[26] - The company raised 290,000,000.00 RMB from investments in the first three quarters of 2025, with no corresponding figure reported for 2024[36]

Financial Performance - The company's operating revenue for Q3 2025 was RMB 9,004,162,355.11, a decrease of 55.94% compared to the same period last year[6] - Total profit for the period reached RMB 5,619,017,956.67, representing a significant increase of 96.52% year-over-year[6] - Net profit attributable to shareholders was RMB 4,480,495,200.25, up 73.94% from the previous year[6] - The basic earnings per share increased by 90.00% to RMB 0.38 compared to RMB 0.20 in the same period last year[6] - Net profit attributable to shareholders for the current reporting period is 55.94 million, driven by increases in investment, brokerage, and investment banking revenues[17] - Total profit for the current reporting period is 96.52 million, primarily due to revenue growth in investment, brokerage, and investment banking[17] - Basic earnings per share for the current reporting period is 90.00, reflecting an increase in net profit attributable to shareholders[17] - Net profit for the first three quarters of 2025 was ¥10.97 billion, up 57.5% from ¥6.96 billion in the first three quarters of 2024[39] - Basic earnings per share for the first three quarters of 2025 were ¥0.92, compared to ¥0.55 in the same period of 2024, representing a 67.3% increase[40] - Net profit for the first three quarters reached ¥9,923,515,647.77, an increase of 54.5% from ¥6,419,771,466.54 in the previous year[50] Assets and Liabilities - Total assets at the end of the reporting period were RMB 861,092,526,709.18, reflecting a growth of 16.76% from the end of the previous year[9] - Total liabilities increased by 30.51% to 132.51 billion, primarily due to the expansion of lending activities[19] - Total assets as of September 30, 2025, amounted to ¥861.09 billion, an increase from ¥737.47 billion as of December 31, 2024[35] - Total liabilities increased to ¥708.68 billion as of September 30, 2025, compared to ¥596.97 billion at the end of 2024, reflecting a growth of 18.7%[36] - Total liabilities as of September 30, 2025, amounted to ¥584,469,422,772.00, up from ¥510,205,709,946.22 at the end of 2024, indicating a growth of 14.5%[47] - The total assets of the company reached ¥730,648,365,129.09, compared to ¥645,705,764,711.05, marking an increase of 13.2%[47] Cash Flow - The company reported a net cash flow from operating activities of RMB 33,090,979,606.89 for the year-to-date period, a decrease of 43.00% compared to the previous year[6] - Operating cash flow for the year-to-date period was ¥33.09 billion, a decrease of 43% compared to ¥58.06 billion in the same period last year, primarily due to net cash outflow from lending activities[25] - Total cash inflow from financing activities in the first three quarters of 2025 reached CNY 116.58 billion, significantly higher than CNY 42.78 billion in 2024[43] - The net cash flow from financing activities for the first three quarters of 2025 was CNY 15.65 billion, compared to a net outflow of CNY 20.37 billion in 2024[54] - Cash inflow from financing activities in the first three quarters of 2025 reached CNY 114.5 billion, significantly higher than CNY 40.6 billion in 2024[54] Investment and Income - Net commission income for the year-to-date period is 7.26 billion, a 63.14% increase compared to the same period last year, mainly from brokerage and investment banking activities[21] - Investment income and fair value changes for the year-to-date period is 12.10 billion, up 41.35% year-on-year, due to gains from financial instruments and fair value changes[21] - The company reported a significant increase in investment income, which reached ¥11.15 billion in the first three quarters of 2025, compared to ¥1.48 billion in the same period of 2024[38] - Investment income surged to ¥9,077,214,417.50, a substantial rise from ¥1,898,536,575.04, indicating a growth of 378.5%[49] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 125,066, with 124,499 being A-share ordinary shareholders[26] - The largest shareholder, China Galaxy Financial Holdings, holds 47.43% of the shares, amounting to approximately 5.19 billion shares[28] Other Financial Metrics - The company's income tax expense for the year-to-date period is 2.29 billion, a 422.40% increase year-on-year, driven by higher taxable income[22] - The company's derivative financial liabilities increased by 75.38% to 3.33 billion, reflecting changes in the fair value of derivative financial instruments[19] - Total operating expenses for the first three quarters of 2025 were ¥9.46 billion, an increase of 13.1% from ¥8.36 billion in the same period of 2024[39] - The company's total equity increased to ¥152.41 billion as of September 30, 2025, up from ¥140.50 billion at the end of 2024, marking an increase of 8.6%[36]

Financial Performance - For the nine months ended September 30, 2025, the company reported a revenue of RMB 123,285,250, representing a 0.95% increase compared to RMB 122,126,912 for the same period in 2024[2] - Gross profit for the same period was RMB 8,489,252, which is a decrease of 6.32% from RMB 9,062,077 in 2024[2] - Profit attributable to equity holders of the parent company was RMB 3,136,777, reflecting a 2.40% increase from RMB 3,063,348 in the previous year[2] - Basic and diluted earnings per share increased to RMB 1.39, up 2.40% from RMB 1.36 in 2024[2] Assets and Liabilities - Total assets as of September 30, 2025, were RMB 86,974,303, a decrease of 3.73% from RMB 90,347,204 at the end of 2024[2] - Total liabilities decreased by 8.76% to RMB 52,870,680 from RMB 57,945,540[2] - Net asset value increased by 5.25% to RMB 34,103,623 compared to RMB 32,401,664 in 2024[2] Audit and Cautionary Notes - The financial data for the nine months ended September 30, 2025, is unaudited and based on internal data and management accounts[3] - The financial results have been reviewed by the company's audit committee[3] - Investors are advised to exercise caution when trading the company's shares and consult their professional advisors if they have any questions regarding their investment status[4]

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。 本公告分別以中、英文兩種語言編訂，如中英文版本有任何不一致，以中文版本為 準。 承董事會命 株洲中車時代電氣股份有限公司 董事長 李東林 中國，株洲，二零二五年十月三十日 於本公告日期，本公司董事長兼執行董事為李東林；副董事長兼執行董事為尚敬； 其他執行董事為徐紹龍；以及獨立非執行董事為李開國、鍾寧樺、林兆豐及馮曉雲。 – 1 – （於中華人民共和國註冊成立的股份有限公司） （股份代號：3898） 2025年第三季度報告 本公告乃根據香港法例第571章證券及期貨條例第XIVA部項下內幕消息條文及香 港聯合交易所有限公司證券上市規則第13.09(2)和 第13.10B條的要求作出。 株 洲 中 車 時 代 電 氣 股 份 有 限 公 司（「本公司」）之 董 事 會（「董事會」）欣 然 公 佈 本 公 司 及 其 附 屬 公 司（「本集團」）截 至 ...

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份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。 POSTAL SAVINGS BANK OF CHINA CO., LTD. 2025年第三季度報告 中國郵政儲蓄銀行股份有限公司（「本行」）董事會（「董事會」）謹此宣佈本行及附屬公司截至2025年9月30日止九個月 的業績。本公告乃根據《證券及期貨條例》（香港法例第571章）第XIVA部及《香港聯合交易所有限公司證券上市規則》 第13.09條的規定而作出。 1 重要提示 1 1.1 本行董事會、監事會及董事、監事、高級管理人員保證本季度報告內容的真實、準確、完整，不存在虛假記 載、誤導性陳述或者重大遺漏，並承擔個別和連帶的法律責任。 1.2 2025年10月30日，本行董事會審議通過了《2025年第三季度報告》。 1.3 本行法定代表人鄭國雨、主管財務工作副行長徐學明及財務會計部負責人鄧萍保證本季度報告中財務信息的 真實、準確、完整。 1.4 本季度財務報表未經審計。 2 主要財務數據 2.1 主要會 ...

Financial Performance - Operating revenue for the third quarter was RMB 3,541,368,113.69, a decrease of 3.03% compared to the same period last year[8] - Total profit for the quarter reached RMB 156,866,203.89, an increase of 75.06% year-on-year[8] - Net profit attributable to shareholders was RMB 146,651,458.37, reflecting a significant increase of 122.98% compared to the previous year[8] - Basic earnings per share for the quarter were RMB 0.03, a 50.00% increase from the same period last year[8] - Total revenue for the first three quarters of 2025 was approximately ¥14.45 billion, a decrease of 8.5% compared to ¥15.79 billion in the same period of 2024[34] - Net profit for the first three quarters of 2025 was approximately ¥1.75 billion, slightly up from ¥1.73 billion in 2024, indicating a growth of 1.5%[36] - Total comprehensive income for the first three quarters of 2025 reached ¥1,750,130,657.00, a slight increase of 1.4% compared to ¥1,726,180,812.21 in the same period of 2024[39] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.37, up from ¥0.35 in the same period of 2024, reflecting a growth of 5.7%[39] - Net profit for the first three quarters of 2025 was CNY 1,241,994,807.31, down 35.8% from CNY 1,933,370,884.49 in the first three quarters of 2024[54] Cash Flow - The net cash flow from operating activities was RMB 2,469,660,739.32, up 212.72% year-on-year[8] - Cash inflow from operating activities totaled ¥16,938,628,265.95 in the first three quarters of 2025, an increase of 7.6% from ¥15,738,041,610.22 in 2024[42] - Net cash flow from operating activities for the first three quarters of 2025 was ¥5,551,566,311.30, significantly higher than ¥2,885,813,484.71 in 2024, marking an increase of 92.5%[43] - Cash inflow from financing activities for the first three quarters of 2025 amounted to 1.5 billion, compared to 172.57 million in the same period of 2024[61] - Net cash flow from financing activities for the first three quarters of 2025 was -782.74 million, a decrease from -2.32 billion in the first three quarters of 2024[61] - The ending cash and cash equivalents balance for the first three quarters of 2025 was 629.38 million, up from 266.83 million in the same period of 2024[61] Assets and Liabilities - Total assets at the end of the reporting period were RMB 87,309,827,369.40, representing a 3.92% increase from the end of the previous year[10] - The company's total liabilities as of September 30, 2025, amounted to approximately ¥57.36 billion, an increase from ¥56.90 billion at the end of 2024[31] - Current liabilities totaled approximately ¥19.91 billion as of September 30, 2025, compared to ¥22.60 billion at the end of 2024, showing a decrease of 12%[29] - Non-current liabilities increased to approximately ¥37.44 billion as of September 30, 2025, from ¥34.30 billion at the end of 2024, representing an increase of 6.2%[31] - The company's total equity as of September 30, 2025, was approximately ¥29.95 billion, up from ¥27.11 billion at the end of 2024, reflecting an increase of 10.5%[32] - Total liabilities as of September 30, 2025, amounted to CNY 2,225,216,989.28, a decrease of 38.2% from CNY 3,598,357,543.13 at the end of 2024[50] - Total equity increased to CNY 19,413,172,084.71 as of September 30, 2025, up 10.7% from CNY 17,534,257,760.69 at the end of 2024[51] Shareholder Information - As of September 30, 2025, the total number of shareholders is 39,209, with 38,094 A-share shareholders and 1,115 H-share shareholders[18] - The top 10 shareholders hold a total of 4,112,000,000 shares, representing 92.85% of the total shares[20] - Hebei Construction Investment Group holds 2,058,841,253 shares, accounting for 48.95% of the total shares[20] - HKSCC Nominees Limited holds 1,835,962,285 shares, representing 43.65% of the total shares[20] Operational Insights - The company reported a decrease in natural gas sales volume compared to the same period last year, impacting revenue[17] - The increase in net profit was primarily due to a reduction in costs and expenses compared to the previous year[17] - The company expects continued growth in cash flow from sales of goods and services, driven by increased cash receipts[17] - The company has not reported any changes in the participation of major shareholders in securities lending or margin trading activities[25] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[56] Research and Development - Research and development expenses for the first three quarters of 2025 were approximately ¥199.14 million, down from ¥255.87 million in 2024, indicating a decrease of 22%[34] - Research and development expenses for the first three quarters of 2025 were CNY 11,409,422.65, down 17.5% from CNY 13,828,036.97 in the first three quarters of 2024[53]

Financial Performance - Revenue for the third quarter was RMB 176.86 billion, a decrease of 1.30% compared to the same period last year[7]. - Net profit attributable to shareholders decreased by 16.34% year-on-year, amounting to RMB 4.08 billion[7]. - The company achieved a gross profit margin of 11.04%, down by 0.50 percentage points year-on-year[11]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, totaling RMB 11.70 billion, a decline of 13.45% year-on-year[7]. - Total operating revenue for the first three quarters of 2025 was CNY 513.92 billion, a decrease of 4.25% compared to CNY 536.64 billion in the same period of 2024[37]. - Net profit for the first three quarters of 2025 was CNY 18.21 billion, a decline of 13.4% from CNY 20.99 billion in 2024[38]. - The total profit for the first three quarters of 2025 was CNY 22.79 billion, down 10.4% from CNY 25.58 billion in 2024[38]. - For the first three quarters of 2025, the total comprehensive income attributable to the parent company was CNY 13,910,882,585, a decrease of 30.5% compared to CNY 20,022,875,470 in the same period of 2024[39]. - The company's basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.79, down from CNY 0.94 in the same period of 2024, a decrease of 16%[39]. Assets and Liabilities - Total assets increased by 9.76% year-on-year, reaching RMB 2,039.67 billion[6]. - The company's total liabilities increased to CNY 1.55 trillion as of September 30, 2025, compared to CNY 1.39 trillion at the end of 2024, reflecting a growth of 11.8%[34]. - Current liabilities totaled CNY 981.20 billion as of September 30, 2025, up from CNY 868.81 billion at the end of 2024, representing an increase of 12.9%[34]. - Long-term borrowings rose to CNY 422.39 billion as of September 30, 2025, compared to CNY 392.95 billion at the end of 2024, marking an increase of 7.5%[34]. - The company's total equity increased to CNY 485.43 billion as of September 30, 2025, compared to CNY 467.81 billion at the end of 2024, indicating an increase of 3.3%[34]. - The total liabilities as of September 30, 2025, were CNY 138,118,912,256, compared to CNY 117,147,852,827 at the end of 2024, indicating an increase of 17.9%[48]. - The total equity of the company increased to CNY 157.56 billion as of September 30, 2025, compared to CNY 145.90 billion at the end of 2024[49]. Cash Flow - Operating cash flow for the quarter was RMB 11.51 billion, with a significant improvement compared to a net outflow of RMB 65.79 billion year-to-date[11]. - The net cash flow from operating activities for the first three quarters of 2025 was -CNY 65,790,413,885, an improvement from -CNY 77,028,344,565 in 2024, indicating a 14.4% reduction in cash outflow[42]. - Cash flow from operating activities for the first three quarters of 2025 was negative CNY 1.19 billion, an improvement from negative CNY 19.99 billion in the same period of 2024[56]. - Cash flow from financing activities generated a net inflow of CNY 15.33 billion in the first three quarters of 2025, compared to CNY 21.68 billion in the same period of 2024[57]. Contracts and Business Growth - The company completed 63% of its annual revenue target of RMB 771.94 billion for 2024, reflecting a 5.0% growth plan[11]. - New contracts signed from January to September 2025 amounted to RMB 1,339.97 billion, a year-on-year increase of 4.65%[19]. - The new contracts from overseas regions totaled RMB 284.06 billion (approximately USD 39.93 billion), a year-on-year increase of 7.13%[21]. - Infrastructure construction business contracts amounted to RMB 1,222.44 billion, while dredging business contracts were RMB 78.83 billion[20]. - The new contract value in emerging business areas reached RMB 466.38 billion, a year-on-year increase of 9.38%[22]. - The new contract value from energy engineering projects was RMB 79.48 billion, up 80.60% year-on-year, while agricultural and forestry projects saw a new contract value of RMB 10.88 billion, increasing by 72.77%[23]. - The total contract value for infrastructure investment projects was RMB 76.58 billion, a decrease of 5.33% year-on-year[25]. - The cumulative total for domestic operations was RMB 1,055.91 billion, reflecting a 4.00% increase compared to the same period last year, while overseas operations totaled RMB 284.06 billion, up 7.13%[24]. Shareholder Information - As of September 30, 2025, the total number of shares was 16,278,611,425, with A-shares accounting for 72.86% and H-shares for 27.14%[14]. - The company repurchased 9,715,200 A-shares, representing 0.39% of the free-floating A-shares and 0.0597% of the total shares[14]. - The top shareholder, China Communications Construction Group, holds 57.59% of the total shares[17]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 15.34 billion, a decrease of 12.0% from CNY 17.44 billion in 2024[37]. - Research and development expenses for the first three quarters of 2025 were CNY 103.14 million, an increase from CNY 88.92 million in the same period of 2024[52].

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份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 光大證券股份有限公司 Everbright Securities Company Limited （於中華人民共和國註冊成立的股份有限公司） （股份代號：6178） 趙陵 中國上海 2025年10月30日 於本公告日期，本公司董事會成員包括趙陵先生（董事長、執行董事）、劉秋明先 生（執行董事、總裁）、馬韌韜女士（非執行董事）、連涯鄰先生（非執行董事）、潘 劍雲先生（非執行董事）、尹岩武先生（非執行董事）、秦小徵先生（非執行董事）、 任永平先生（獨立非執行董事）、殷俊明先生（獨立非執行董事）、劉應彬先生（獨 立非執行董事）、陳選娟女士（獨立非執行董事）及呂隨啟先生（獨立非執行董事）。 1 重要內容提示 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。 茲載列光大證券股份有限公司（「本公司」或「公司」 ...