2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 55,732,259, representing a year-on-year increase of 2.70%[4] - The net profit attributable to shareholders for Q3 2023 was CNY 2,691,225, a decrease of 7.09% compared to the same period last year[4] - The cash flow from operating activities, excluding non-recurring gains and losses, was CNY 2,364,538, showing a slight increase of 0.78% year-on-year[4] - The total operating revenue for the first three quarters of 2023 reached CNY 143,035,486 thousand, an increase of 5.4% compared to CNY 135,563,342 thousand in the same period of 2022[20] - The net profit attributable to shareholders of the parent company for the first three quarters of 2023 was CNY 6,151,584 thousand, up 2.1% from CNY 6,027,302 thousand in the same period of 2022[20] - The company reported a total operating profit of CNY 9,106,794 thousand for the first three quarters of 2023, which is an increase of 4.0% from CNY 8,759,134 thousand in the same period of 2022[20] Assets and Liabilities - Total assets at the end of Q3 2023 reached CNY 476,716,004, reflecting a growth of 7.82% compared to the end of the previous year[5] - The total assets as of September 30, 2023, amounted to CNY 476,716,004 thousand, compared to CNY 442,140,146 thousand at the end of 2022, reflecting a growth of 7.8%[18] - The total liabilities increased to CNY 283,934,135 thousand as of September 30, 2023, from CNY 251,154,230 thousand at the end of 2022, representing a rise of 13.1%[18] - The company’s total equity as of September 30, 2023, was CNY 192,781,869 thousand, compared to CNY 190,985,916 thousand at the end of 2022, showing a slight increase of 0.9%[18] - The company’s total equity decreased to CNY 98,974,537 as of September 30, 2023, down from CNY 103,485,410 at the end of 2022, reflecting a decline of approximately 4.3%[26] Cash Flow - The cash flow from investing activities showed a net outflow of CNY 67.53 billion, an increase of CNY 7.39 billion compared to the same period last year[9] - Net cash flow from operating activities was negative CNY 3,992,206, a significant decline compared to a positive CNY 9,859,793 in the previous year[23] - Cash inflow from financing activities totaled CNY 41,984,443 in the first three quarters of 2023, compared to CNY 35,647,024 in the same period of 2022, an increase of approximately 17.5%[24] - The total cash and cash equivalents at the end of Q3 2023 were 9,393,269 thousand RMB, down from 16,856,482 thousand RMB at the end of Q3 2022, a decrease of approximately 44.4%[28] - The company reported a significant decrease in cash received from operating activities, totaling 4,110,638 thousand RMB in 2023 compared to 9,779,992 thousand RMB in 2022, a decline of about 58.0%[28] Shareholder Information - As of the end of the reporting period, the total number of common shareholders was 588,089[13] - China CRRC Group Co., Ltd. holds 14,558,389,450 shares, accounting for 50.73% of the total shares[14] - The number of A-share shareholders was 585,929, while H-share shareholders numbered 2,160[14] - The company’s total issued shares amount to 28,749,000,000, with China CRRC Group holding 51.35% of the total[14] - The company has a total of 4,358,687,388 shares held by HKSCC NOMINEES LIMITED, representing foreign investors[14] Research and Development - Research and development expenses for the first three quarters of 2023 were CNY 7,977,457 thousand, an increase of 6.5% compared to CNY 7,492,683 thousand in the same period of 2022[20] - Research and development expenses increased to CNY 127,962 in the first three quarters of 2023, compared to CNY 83,745 in the same period of 2022, reflecting a growth of about 53%[27] Management Changes - The company experienced changes in senior management, with several executives resigning in 2023[16] Debt and Financing - The company issued 6 tranches of short-term financing bonds totaling RMB 17 billion, with a remaining balance of RMB 9 billion[16] - The company has not issued any new corporate bonds in the first nine months of 2023, with a total of RMB 2.5 billion in bonds redeemed[16] - The company’s debt financing tools include 12.824543 billion RMB in asset-backed commercial paper (ABCP) redeemed[16] - Cash outflow for debt repayment in 2023 was 12,509,703 thousand RMB, down from 17,770,696 thousand RMB in 2022, a reduction of approximately 29.0%[28] Inventory and Expenses - The inventory level rose significantly to CNY 88,772,921 thousand, up 40.5% from CNY 63,136,015 thousand in the previous year[18]