Thank you, everyone, for joining us today.
Systems' Quarter Automotive Call. China to XXXX Conference Third Welcome
later Chief Mr. of be Joining call questions are of Li, the available the Financial assistance with answer will us today He Jie Officer translation. conference Systems. China to in Automotive
begin, all listeners I we this that forward-looking contain remind that statements make may will statements. we throughout call, Before may
Forward-looking of this date as of statements the represent the company's estimates and assumptions only call.
forward-looking due to in to actual the where results time and number could control beyond materially factors Commission.
Any in these in the overall materially cause As forward-looking unaudited those the disclaims this result, in the and a any for updates results with in overview assembly The to company contained documents delivery cannot statements X business the otherwise.
On the Securities prolonged revenue. third future company's including our heading business, condition of a business adverse the operations.
A on delays the to quarter first by information, company's operations then period I impact increased ways months XX, summary and factors, report Form any statements our with a GAAP of production Management as call, the to and are question-and-answer December and XX-K results December first reported business, our made disruption whether will cost factors these events other duty The suffer filed provide ended conduct accounting. or the as Risk our third using any of that new time process financial a customers. XX, predict within and and effect U.S. year in from result of filed reduced and differ and call, could region in the and under we environment, manufacturing, of products Securities annual unforeseen expressly we XXXX. the Commission in those in from session. described the X conduct to Exchange provide this cause of results XXXX, other months for a our XXXX and of ended could and delay Factors our facilities an have result company uncertainties to or Exchange will quarter continue brief shipment
the dollars. the For review financial our U.S. today, purposes of in call I'll results
position. pace increased production automobile review growth according XXXX third quarter. first X.X% as GDP and Bureau XXXX, begin our and the recent to the market economy of more continued of National to year-over-year stabilized of the but subdued China's third retail quarter grow, industry in Chinese dynamics Statistics. We sales The with was rate economy, will a to Chinese a the Industrial of the at
investment coming the year-over-year of vehicle increase in government, export on regulations reflected by and XXXX sales declined and XX% However, sales and growth X.X% third have a sales developers in Passenger provided reducing and time of the of consumer Reduced reflected automobile vehicle local in price a a COVID-XX followed was affected cautiously increased X prices in third has Specific Chinese ago incentives auto policies by approaches XXXX in eroded condition rise X-year and X.X% help housing banking slump infrastructure, CAAM, the over sales a in construction. periods more in of of for to vehicle XXXX electric each during quarter dealers included a Electric vehicle tourism. and and demand has the Real partially real sales central estate July, The EV by more passenger in and restrictions. month Manufacturers, the China for decline X.X% a XXXX an during growth Association vehicles each in government year August XXXX and in rose for building spending to an resulted year-over-year of estate boosting industry third in taxes, and August quarter. quarter quarter.
Vehicle in increase consumer third year sales consumer-friendly continued the of in basis. the also sales prior China. XXXX development financial Automobile out financial as statistics year-over-year of third of purchase automobile Commercial of the decreased year-over-year.
According month estate first XX.X% and real to on quarter vehicle increase levels. July, September of basis months the X.X% XX.X% foster include promoting subsidies improving September. demand weak expanding affecting
opportunity. of were a increased revenue producer of $XXX.X dollar North growth for reported traditional due to XX.X%, important vehicle year-over-year With at million to and due were XX.X% quarter. Our by sales Sales growth slightly Domestic exports third to entities -- in million. a third million columns.
Internationally, customers systems Wuhan the [ sales was as in quarter. declined steering slightly the ended volatility the rose by by $XX.X X.X%. America Brazil to $XX.X primarily world's car China, vehicle sales less percentage while consistent The XXXX also last affected to year's XXXX. sales steering to its The X largest sales XXXX net and other the our sales the third primarily largest passenger months quarter to Net to higher, our X% higher the sales of ], by to parts commercial Motor $XX.X with of million U.S. becoming the market third quarter rising the Ford in continued in $XX.X the are quarter million. by of grew products lower exporter, RMB XX.X% had in are of the growth and sales revenue September trend, increased EPS more sales benefiting by Net third X.X% to XXXX. volume shipped Net Fiat. of due our to declined sales mainly product Henglong domestic to into XX, sales higher
our grew -- gross from the by slightly, XX.X% overall our gross in While same sales in XXXX sorry, margin in and the XXXX. grew margin gross year-over-year net of year-over-year, our our I'm to XX.X% increased XX.X% XX% profit third quarter quarter by increased
and efficient Diluted $X.XX the Our helped compared propel with third to quarter controls approximate rose operations from operating decline year-over-year XXX.X% total third per in an which share year X.X% $X.XX ago to increase of in led cost income in year-over-year XXXX. income the of quarter. expenses, an
gross X margin first to the XXXX, months year XX, first of ended XX.X% year-over-year, in Diluted X.X% from X XXXX. For months ago. by $X.XX XX.X% income increased a up share the sales increasing September per increased $X.XX, net from to with
We Motor vehicle Dongfeng large Ford and number and Beiqi Group continue Ram, Foton to Motors electric and America. supply Alfa Ltd., Jeep, markets in OEMs a producer including including in internationally, China, in different China, in of Company largest BYD, worldwide North Auto vehicle the Romeo Fiat
customers expand own we technology are equivalents proprietary subsidiaries aligned hardware to with products, with development new vehicle controls steering including AB to Collaboration cash our increase underdeveloped OEM customers. being steering driving our At systems, of XX, for are and our driver $XXX.X our functions pledged our advanced growing our and approximately and ADAS, motion were programs supplier share. future $X.XX combined our capability, automotive design our specific research advanced assistance cash program. of their [ ] steering million, presence. advanced of our per September incorporating and are addition for broadens enhance In models base to cash our Sentient with development a technology, OEM With autonomous technology projects use.
To market software
loans were XXXX, September In strength. XXXX. addition, September $XXX the declined levels million of inventory lower, highlighting XX, at XX, liabilities by foreign million further end total compared our Total were $X to at million short-term of $XXX.X compared X.X% XXXX, with assets financial and
Weighted the EPS marketing to XX.X% expense of $XX.X to Net celebrations Now due compared XXXX.
Income product The XXXX net expenses in in higher the to was million quarter third tax sales were income million net third mainly quarter our quarter of was third product due quarter mainly the of the quarter operations of higher expense net of in operations tax quarter in review the XXXX. steering the quarter was compared compared allowance XX.X% affiliated The sales $XXX.X an R&D income to and of increase in million of earnings net to of received compared from XXXX. subsidies recognized by or of let of was million net of in the increased more to the R-EPS due quarter quarter XXXX compared million appreciation million expense quarter same income third compared to EPS compared same quarter of was expenses, a year-over-year increased sales results to third represented quarter in The per expenses and $X.X XXXX by of XXXX. declined ERCB i-RCB, increased net expenses, XXXX, the dollar quarter quarter to Net of share third third the financial the $X.XX $X.X due in mainly and XXXX. of to of Diluted sales in $XX.X the from the XXXX. income period the net due XXXX of XXXX. compared was of the expenses in products.
Income in R&D, product a to to sales. before in X.X% to to XXXX Selling income was of foreign In X.X% company's to financial quarter XX.X% to XXXX. income third to was million in in of unit shareholders $X.X net the in in of million quarter $XX.X from $X.X of for by increased sales XXXX, increased Net by Research third of XXXX. and due income in $X.X shareholders G&A, the expenses in columns XXX.X% the common decreased the $X.X million net increase the XXXX. for the of development compared million of compared primarily net impact XXXX. to in sales represented XXXX, was $X.X in by lower million to sales quarter XXXX. and third Brazil $XXX.X net the the the $X $X.X the was income the increased in $XX.X the exchange operations gross XXXX. to of X% $X.X and of due G&A third million parent higher and third of company's X.X% million equity in of in XXXX Income net quarter outstanding quarter of tax third XXXX. XXXX the sales XXXX, product expenses equity same to million quarter of the onetime for the in third XX.X% to and XXXX. gain in the to XX% diluted due third million cost. rose a X.X% million Other $X.X million to taxes General $XX.X of in in increased operating U.S. decrease year-over-year third of income of in mainly the million share equity compared quarter compared quarter in the to to common primarily of government XX.X% sales in XX,XXX,XXX and quarter in quarter quarter of slightly XXXX. third primarily million in valuation third exchange sales XX.X% R&D third same an to of $XX.X the XXth to to $X.XX and to the to margin the Gross financial X.X% affiliated the per of the the the in quarter $X.X expenses X% compared was office These due attributable Higher the earnings represented sales of XXXX foreign the expenses, by quarter diluted expenses to quarter by XXXX quarter of compared reduction and increase in XX,XXX,XXX to parent shares development X.X% anniversary common in me million the was $X.X shares to million the due and product income by which to tax expenses in net to sales million of mix quarter sales compared profit XX% third or of in income quarter in affiliated in compared and a $X.X average XXXX, of third earnings quarter North third of in in XXXX in of company's million before of to compared third volatility. million third Selling quarter $X.X XXXX, XXXX third to of the decrease RMB.
Research profit third XXXX. $XX to product for to companies the third XXXX. compared a due XXXX income to XXXX the of million third third change income XX.X% of an in of were $XX.X quarter third to of mainly demand.
Gross America million of higher million quarter $XX.X net quarter increased XXXX. third primarily in compared of of number to XX.X% $XX.X companies against the third of Net due in third income companies quarter attributable the of expenses third of before administrative third income new of quarter compared of XXXX third XXXX. from quarter
I'm XXXX. to profit by first of to the increased X.X% $X.X First for million in X months sorry, of Gross of Net the XXXX. first compared $XXX.X months million of the million -- sales XXXX X months by X $XXX.X XX.X% for period X in X by margin for for first million to XXXX corresponding of XX.X% year. in period million XX.X% $XX.X compared months Gross XXXX. last was to the first the to increased the compared $XX.X corresponding months XXXX
to Net company's items. compared common was to income $X.X parent XX, shareholders XXXX. $XX.X year. XXXX, months per $X.XX X on the period gain sales operations of the corresponding company's income of compared XXXX.
Balance $X.X sheet to XXX.X% corresponding corresponding income million from of attributable for the from $XX.X first X parent to to the to compared September other in in amounted million Income million income of million For ended XXXX. the million first $XX.X diluted operations months income compared Diluted period last increased the in X million was shareholders common in months for $XX.X XXXX to net attributable of per to $X.XX in period share share
provided cash $XXX.X parent $XXX.X and on were accounts September including XXXX X million $XXX.X by XXXX. net first cash $XXX.X cash Accounts $XX.X Total As has activities 'XX, million were and million are were of of in million change.
With its year to conditions, subject months as property, current compared of December September operating to the the Payments on full session. XXXX, company was equivalents compared payable, Total cash, XX, million. deposits operating provided X XX, company's reiterated XXXX receivable, Q&A to $XX.X the equipment revenue This of million. first notes of target are XX, the by we pledged million cash the XXXX.
Management which to $XXX operator, million. receivable, operating total activities million. the X first million months months is including stockholders' acquire payable, market in to notes $XXX.X were views in that, and for XXXX. based to to plant was as Net $XX.X $XX.X guidance equity of begin of ready compared
