CRRC(SH:601766)2020-10-30 16:00Financial Performance - Operating revenue decreased by 5.66% to CNY 145,774,978,000 for the first nine months compared to the same period last year[4] - Net profit attributable to shareholders decreased by 19.25% to CNY 6,793,205,000 year-on-year[4] - Basic earnings per share decreased by 17.24% to CNY 0.24 compared to the same period last year[4] - Total operating revenue for Q3 2020 was CNY 56,371,652, a decrease from CNY 58,372,840 in Q3 2019[25] - Net profit attributable to shareholders for Q3 2020 was CNY 3,100,550, down from CNY 3,631,991 in Q3 2019[26] - The total comprehensive income for Q3 2020 was a loss of CNY 195,949,000, compared to a profit of CNY 1,111,796,000 in Q3 2019, reflecting a decline of 117.60%[27] - The investment income for Q3 2020 was CNY 42,814,000, a decrease from CNY 1,149,397,000 in Q3 2019, indicating a decline of 96.27%[27] Cash Flow - Net cash flow from operating activities was negative at CNY -15,168,007,000 for the first nine months[4] - Cash inflow from operating activities for the first nine months of 2020 was CNY 4,341,384,000, a decrease of 22% compared to CNY 5,575,684,000 in the same period of 2019[30] - Net cash flow from operating activities increased significantly to CNY 1,222,058,000, compared to CNY 544,409,000 in the first nine months of 2019, representing a growth of 125%[30] - Cash inflow from investment activities totaled CNY 27,150,938,000, down 28% from CNY 37,747,828,000 in the previous year[30] - Net cash flow from investment activities was negative at CNY (13,297,313,000), worsening from CNY (7,415,839,000) in the same period of 2019[30] - Cash inflow from financing activities reached CNY 144,382,549,000, an increase of 10% compared to CNY 130,887,005,000 in 2019[30] - Net cash flow from financing activities improved to CNY 5,029,010,000, compared to CNY 3,548,777,000 in the first nine months of 2019, marking a growth of 42%[30] Assets and Liabilities - Total assets increased by 13.98% to CNY 437,177,698,000 compared to the end of the previous year[4] - The total liabilities of the company reached RMB 274.80 billion, up from RMB 224.74 billion in the previous year, marking an increase of approximately 22.3%[21] - The equity attributable to shareholders of the parent company was RMB 138.29 billion, compared to RMB 135.89 billion at the end of 2019, showing a slight increase of about 1.0%[21] - The company's cash and cash equivalents decreased to RMB 36.96 billion from RMB 44.90 billion year-over-year[20] - Accounts receivable increased significantly to RMB 93.31 billion, up from RMB 59.71 billion in the previous year, indicating a growth of approximately 56.3%[20] - Inventory levels rose to RMB 81.61 billion, compared to RMB 60.83 billion at the end of 2019, reflecting an increase of about 34.2%[20] Business Segments - The railway equipment business revenue decreased by 36.38% to RMB 56.30 billion, primarily due to a decline in railway product deliveries[12] - The urban rail and urban infrastructure business revenue increased by 44.82% to RMB 39.59 billion, driven by higher sales of urban rail products[13] - The new industries business revenue rose by 37.29% to RMB 44.95 billion, mainly due to increased sales of wind power products[14] Shareholder Information - The total number of shareholders reached 755,550 by the end of the reporting period[6] - The largest shareholder, China CNR Corporation Limited, holds 50.28% of the shares[6] Research and Development - Research and development expenses for Q3 2020 were CNY 3,260,969, compared to CNY 2,755,983 in Q3 2019, reflecting a 18.3% increase[25] - Research and development expenses increased to CNY 168,594,000 in Q3 2020, up from CNY 63,990,000 in Q3 2019, reflecting a growth of 163.66%[27] Financial Management - The company signed new orders totaling approximately RMB 152.3 billion in the first nine months, with international contracts accounting for about RMB 16.2 billion[14] - Short-term borrowings increased by 52.66%, reflecting the company's need for additional bank loans to support daily operations[11] - The company reported a 76.94% increase in financial expenses, mainly due to exchange rate fluctuations leading to increased foreign exchange losses[11] - The company issued multiple short-term financing bonds totaling RMB 30 billion each, with various maturities throughout the year, indicating active capital management[17]