XJEC(000400)2023-10-31 11:21Financial Performance - The company achieved a revenue of 10.664 billion yuan, representing a year-on-year growth of 16.98% [2] - The net profit attributable to shareholders reached 772 million yuan, with a year-on-year increase of 19.11% [3] - The net cash flow from operating activities was 1.469 billion yuan, showing a significant year-on-year growth of 157.23% [3] Business Development - The company focuses on core businesses in ultra-high voltage and power distribution, with key products including converter valves and smart meters [3] - The company aims to serve the "Belt and Road" countries, actively expanding markets in regions such as Saudi Arabia, Chile, Thailand, Bangladesh, and Nigeria [3] - In the current year, the company secured contracts exceeding 1.3 billion yuan for four ultra-high voltage direct current projects [3] Cost and Efficiency - The company increased its R&D investment, with a cost rate of 9.04%, which decreased year-on-year [2] - The gross profit margin in the third quarter was lower than in the second quarter due to changes in product structure and lower margins from certain projects [3] Future Outlook - The company has a robust order backlog for energy storage products, including PCS, and is expanding into commercial energy storage [3] - Future revenue recognition for offshore wind projects will depend on the progress of engineering projects [3]