CRCHI(688425)2024-10-31 10:13Financial Overview - In the first nine months of 2024, the company achieved operating revenue of 6.801 billion CNY, with Q3 revenue of 1.997 billion CNY, representing a year-on-year growth of 9.05% [3] - Profit for the same period reached 1.029 billion CNY, with Q3 profit of 306 million CNY, showing a significant increase [3] - Net cash flow from operating activities was 889 million CNY, reflecting a year-on-year increase [3] Contract Acquisition - Total contracts signed in the first nine months of 2024 amounted to 105.89 billion CNY, with tunnel boring machines contributing 6.917 billion CNY (20% of total), specialized equipment 1.563 billion CNY (15%), and rail transit equipment 2.109 billion CNY (20%) [3] - Domestic contracts accounted for 78.39 billion CNY (74%), while overseas contracts were 26% of the total [3] Overseas Market Performance - New contracts signed overseas in the first nine months of 2024 reached 4.5 billion CNY, marking a year-on-year growth of 49.27%, the highest in history [3] - The company has consistently increased its overseas contract acquisition over the past three years, with figures of 770 million CNY (2021), 1.35 billion CNY (2022), and 2.06 billion CNY (2023) [3] Product Applications and Future Outlook - The company's products are applied in urban rail transit, railways, and highways, with a focus on expanding into new markets such as water conservancy and mining [4] - The company is actively pursuing opportunities in water conservancy projects and enhancing its mining equipment applications [4] R&D and Technological Advancements - R&D investment totaled 631 million CNY in the first nine months of 2024, with an R&D intensity of 9.27% [4] - The company has made significant progress in core technologies for underground engineering equipment, including breakthroughs in key components like main bearings and hydraulic pumps [4] Emerging Equipment and Agricultural Machinery - The company has developed innovative high-altitude equipment and agricultural machinery, including a series of products for high-altitude construction and cotton harvesting [5] - New agricultural machinery products were showcased at the 2024 China International Agricultural Machinery Exhibition, highlighting the company's commitment to expanding its product line [5]