康尼机电：公司直接出口业务中，对欧盟市场的销售是以境内主体直接向欧盟客户出口

Core Viewpoint - The company reported that as of the end of Q3 2025, its overseas revenue from the rail transit sector reached 273 million yuan, accounting for approximately 13.1% of the total revenue from this segment [1] Group 1: Company Performance - The overseas business revenue of the company in the rail transit sector is 273 million yuan [1] - The proportion of overseas revenue in the rail transit main business is about 13.1% [1] - The company is unable to accurately obtain detailed revenue data for terminal products due to the global distribution of customer projects [1] Group 2: Market Dynamics - The company's direct export business to the EU market is conducted through domestic entities exporting directly to EU customers [1] - The company's operational analysis and decision-making are primarily based on sales to overseas direct customers and main engine manufacturers [1]