Against the backdrop of falling raw materials, contemporary amperex technology maintained stable growth momentum in the third quarter. Although revenue declined, profit increased through optimizing cost structure.

On Friday, October 18, the leading power battery manufacturer contemporary amperex technology released its third-quarter performance, specifically:

Revenue: Revenue for the third quarter was 92.278 billion yuan, a decrease of 12.48% compared to the same period last year. Revenue for the first three quarters was 259.045 billion yuan, down 12.09% year-on-year;

Net Income: Net income for the third quarter was 13.136 billion yuan, an increase of 25.97% year-on-year. Cumulative net income for the first three quarters reached 36 billion yuan, up 15.59% year-on-year;

Net Income Attributable to Shareholders: Net income attributable to shareholders for the third quarter was 12.122 billion yuan, an increase of 28.58% year-on-year. Cumulative net income attributable to shareholders for the first three quarters was 32.17 billion yuan, up 19.26% year-on-year;

Basic Earnings Per Share: Earnings per share for the third quarter was 2.9877 yuan per share, an increase of 25.86% year-on-year. Cumulative earnings per share for the first three quarters was 8.1894 yuan per share, up 15.51% year-on-year;

It is worth mentioning that the company has performed outstandingly in cost control, with a year-on-year decrease of 19.15% in cost of goods sold in the first three quarters, providing strong support for profit growth.

In terms of expenses, contemporary amperex technology's research and development expenses decreased by 12.12% year-on-year in the first three quarters, reflecting a phased adjustment in the company's research and development investment. Sales expenses and administrative expenses were 10.927 billion yuan and 6.774 billion yuan respectively, with year-on-year increases of 6.90% and decreases of 2.07% respectively. This indicates an increased investment in market promotion by the company, while administrative expenses have decreased.

In addition, in the first three quarters, the company made a total provision for credit and impairment of related assets of 7.543 billion yuan.