Financial Performance - Total net revenues reached RMB 5,149.2 million, a 27.1% year-over-year increase[12] - Net product revenues increased by 28.7% year-over-year, reaching RMB 4,726.3 million[12] - Net service revenues grew by 11.6% year-over-year to RMB 422.8 million[12] - GAAP income from operations saw a significant increase of 385.1% year-over-year, reaching RMB 120.8 million[12] - Non-GAAP income from operations increased by 34.9% to RMB 140.3 million[12] Business Updates - Net product revenues, excluding ATI and international business, increased by 31.9% year-over-year[14] - Multi-category recycling services within the 3P business grew by 55.1% year-over-year[14] - Total transaction units increased by 19.8% year-over-year, reaching 10.9 million units[14] Store Network Expansion - The total number of AHS stores reached 2,195, representing a net increase of 558 stores year-over-year[15] - Self-operated standard stores increased by 228, reaching 997 stores[15] - Joint-operated standard stores increased by 422, reaching 1,099 stores[15]

Core Insights - CN has published its 2025-2026 Winter Plan, emphasizing its commitment to safely and efficiently meet customer demand during the winter season [1][2] Group 1: Winter Plan Overview - The Winter Plan outlines CN's strategies for maintaining safe and reliable service during winter challenges [1][2] - CN's approach includes investing in infrastructure, utilizing innovative technology, and collaborating with customers and partners [1][7] Group 2: Key Highlights - Resilience Focused: CN integrates winter readiness into its operating model, employing predictive analytics and automated inspection technologies to minimize disruptions [7] - Strategic Investment: The company has a capital program exceeding $3 billion for 2025, with $1.5 billion allocated to Western Canada for expanding corridors and upgrading major yards [7] - Collaborative Solutions: CN collaborates with various stakeholders, including ports and shippers, to enhance supply chain performance, resulting in a 10% increase in weekly train movements to and from North Vancouver [7]